[brownsfan019]

Good discussion guys, thanks for the comments.

Pivot - I have looked at exiting on a WRB based on my initial entry and VBC being used, but the problem I have found there is that since I am trading on a 'smaller' VBC, a WRB can appear rather quickly on this type of 'timeframe'. Which often causes a very quick exit. I bumped it to a higher VBC to stay in the trade longer. I've thought about multiple exits on multiple timeframes, but to be honest - that's a lot of charts to examine when trading 3-4 markets at the same time. I'm not willing to miss an NQ setup b/c I was starting at 3 different YM timeframes. The other thing I am noticing Pivot is that for me at least, the first WRB that shows is a pretty reliable exit level. What I mean is that since my stops are 'snug' there is a possibility that after I enter a trade and see a WRB form, price can retrace close to or at my stop level. Now, if my stops were larger I could possibly stomach that retrace (like the example you posted in another thread), but most often than not, my stop may be taken out. By exiting on the first WRB I see on a higher VBC chart, I'm not getting shaken out on my smaller VBC chart and still catching a good part of the move that is currently in front of me.

Bramble - we've discussed candlestick trading in other threads. I understand how effective candlestick analysis is done as I've been trading candlesticks for years. Your comment - "You comment that you’re getting smaller profits using this method which is understandable, you’re not letting them run. If by using this method you’re also getting fewer losing trades then I suspect it may be an issue with the underlying system itself rather than this bolt-on exit criteria." First, I am comfortable with my entry method, so there is no 'issue' with the underlying system. Second, if I am getting fewer losing trades by trading this way, how is that a problem? By exiting on WRB's in the very simple fashion I have looked at, the vast majority of my trades are profitable and even when a stop out is taken, my stops are usually not more than 7-9 ticks on the YM.

Mark - as always your posts are very welcomed here! I have no problem admitting that WRB's are new to me and I am learning here as well!

With all that being said guys, I like to keep things simple. I've expressed that a number of times here. I have always wanted to perfect my exits even better than what I was doing, and right now, it looks like WRB's can work for me. More analysis needs done, but I at least wanted to get a discussion going on the topic.

I should also mention that I am not trying to hit home runs here. I would love to hit singles and doubles all day. My goal in capturing a move is 30% - 50% of that move. Let me define that - I'm not talking about the entire move all day (partly b/c I only trade till Noon or so), but from my entry to the very low/high of that 'move' I would like to capture 30% - 50% of that. If that 'move' is 20 ticks, I'd like to take out 6-10. That's how I view my exits - what % of the move did I capture? And I think that's why WRB's may work for me. On higher VBC charts, WRB's happen to appear at the low or top of a move (or pretty close). That's all I'm going for each trade - I'm not looking to take one trade and ride it all day. I'd rather take multiple trades whether that is in the same direction all day or opposite directions all day.