[brownsfan019]

Originally Posted by BlowFish »

I'd go further - The exit plan is MORE important (compared to the entry that is) with all types of trading.

Why not use the candles for exits too? So for example a hammer forms 'against' you and then price breaks out so exit - or even reverse if you are scalping walter style

If you are long and each candle is green and making higher highs and higher lows there's really very little reason to get out. (I should say that over and over for my own benefit!!) Actually I think it was Tom Williams (of VSA fame) who said something along the lines of at least stay in until you get a lower close.

BF - good idea on the candle thing, however candlesticks do not provide timely exits. Waiting for a reversal will cause many trades to 'give too much back' in my experience. Higher highs, lower lows sounds good on paper, but again, back to the 'give too much back' by the time a stop is hit. For example, if trading on the 5 min chart, there can be some decent price action to cause a higher high but by the time you trail a stop, you can literally give back POINTS.

[walterw]

I wasnt following anymore today the market when this gorgeous doji did his job...



today was very nice the amount of good setups we had like this...

funny, if you taked the es signals into ym at the same time, ym was VERY profitable today.... nice work here Brown ¡¡ cheers Walter.

[walterw]

This is what I mean :

[brownsfan019]

Yeah, that was a GORGEOUS risk/reward setup. Just beautiful.

Good times in the room today, plenty of trades for everyone to make some money.

[Anonymous]

This chart has a lot on it.

1. For the canlde crew we see a valid Dark (Open>Close) hammer pattern as per Mark. I have added three (3) Profit Targets using WRBs. This is not my prefered method but I know some use this type, so I placed some on here. Remember, Mark would be exiting as the candle becomes a WRB which is why PT3 is on what is not a WRB at the end of the period.

2. For the VSAers: First, we see demand enter on a down candle with Ultra High Volume candle with the close in the upper portion and the next bar up. This is the Dark Hammer of our Valid hammer pattern and We call this Stopping Volume. The next bar forms a WRB and the bar after that gives us a No Supply within the body of a WRB.....

[brownsfan019]

PP - what market is that chart from? If you remember, put a little tag on the chart or in the post what market so others can follow too. Looks like a currency.