[Anonymous]

Nice charts. Glad to see that it is working for you. Are you able to get more profit per trade than with a fixed target?

Now..........if we can just get those MA's off your chart. LOL

[wrbtrader]

Hi brownsfan019,

Thanks for posting the annotated chart with the WRB exits on your VBC charts.

Also, I'm curious just like PivotProfiler to know if WRB exits has been more profitable and/or less stressful trading in comparison to using fixed profit targets ???

Mark
(a.k.a. NihabaAshi) Japanese Candlestick term

[TheBramble]

Originally Posted by brownsfan019 »

but as I mentioned in another thread, I am not interested in WRB's that occur shortly after entry. Taking a YM trade for +3 or +4 is not going to cut it for me. So, once the position reaches at least +5 (on the YM) then I will consider a WRB for exit purposes.

BrownsFan, I'm not too sure what your exit strategy is so it's difficult for me to understand how you're applying it. Could you codify it in a little more detail?

My problem is understanding why if you're using WRB as a proxy for allowing the market to 'tell you' when it's time to come out, why the relative recency of your entry has anything to do with it. Either it's an exit or its not, surely? I guess what I'm saying is whatever your decision process is to place the trade in the first place, it has nothing to do with the immediate or subsequent market action. You could (in fact will over a large number of trades), enter right on the place you'd rather be getting out, so ignoring your exit setup just becasue you've only just gone in seems like it could lead to counterproductive results on occasion.

And I'm sure I'm misunderstanding you when you say about not being willing to let go until you've reached a minimum price objective (albeit only 5 ticks). You mention previously that you use very tight stops (as do I), so how far would you allow the trade to go against you before acknowledging you're not even going to get your minimum 5?

[Anonymous]

WRB's are good for exits, but they provide so much more.

The old trader’s adage says, "Gaps are filled".

Check out the chart below. I want to save the bulk of the analysis for the VSA thread, but note the Long Shadows and Dojis that occur inside the range of the WRB.

The double arrow on the right points to a bar that closes on its high with volume less than the previous two bars. THIS IS A TEST and the signal to go long on the close of this bar.

[brownsfan019]

Originally Posted by NihabaAshi »

Hi brownsfan019,

Thanks for posting the annotated chart with the WRB exits on your VBC charts.

Also, I'm curious just like PivotProfiler to know if WRB exits has been more profitable and/or less stressful trading in comparison to using fixed profit targets ???

Mark
(a.k.a. NihabaAshi) Japanese Candlestick term

Mark - using WRB's is much less stressful and here's why - When I see one (once my minimum profit level is reached), I'm out. No 2nd guessing, wondering what to do or worse - watch a trade come w/in ticks of a profit level and then reverse.

I attached an example on the EC that just took place.

Note: That EC Trade with WRB just happened to call the high of the day so far as of 8:22am EST. If I had a fixed target, it would not have been reached and I would have been stopped out for a loss...

[brownsfan019]

Originally Posted by TheBramble »

BrownsFan, I'm not too sure what your exit strategy is so it's difficult for me to understand how you're applying it. Could you codify it in a little more detail?

My problem is understanding why if you're using WRB as a proxy for allowing the market to 'tell you' when it's time to come out, why the relative recency of your entry has anything to do with it. Either it's an exit or its not, surely? I guess what I'm saying is whatever your decision process is to place the trade in the first place, it has nothing to do with the immediate or subsequent market action. You could (in fact will over a large number of trades), enter right on the place you'd rather be getting out, so ignoring your exit setup just becasue you've only just gone in seems like it could lead to counterproductive results on occasion.

And I'm sure I'm misunderstanding you when you say about not being willing to let go until you've reached a minimum price objective (albeit only 5 ticks). You mention previously that you use very tight stops (as do I), so how far would you allow the trade to go against you before acknowledging you're not even going to get your minimum 5?

Bramble - first, make sure you've read the entire thread that I started here, not just looking at the charts. A lot is explained before the posted charts.

The exit strategy on Visual WRB's on a VBC Chart is simple - after the trade moves +X points in my favor, when a WRB appears, I flatten my position on the close of the WRB. So, when looking at the charts I've posted, anything highlighed in white is a possible exit point. My exact entry points are not annotated on purpose as that is not the purpose of this thread nor am I here to disclose every little way that I trade. My trading system is pretty much scattered on this forum is anyone wants to look close enough for it. Fair warning though - it's much simpler than most people 'want' trading to be.

As for why my entry is relevant is b/c I am not willing to risk 5 ticks to make 3. I'm just not going to do that. I must make at least what I am risking. I've also noted in my brief Visual WRB analysis on VBC Charts that it's not uncommon to see at least 2 WRB's in what I consider a 'move'. Therefore, if the first WRB appears shortly after I enter, I'm not interested in that one. Since I've seen that on VBC Charts that I can expect multiple WRB's usually in a trade setup, I am simply waiting for the 2nd to appear after my minimum profit level has been reached. With that being said, my minimim profit level is not huge or outrageous. I'm simply looking to cover at least the amount of risk in the trade.

As for the trade mgmt part - again, it's rather simple - either I will get a Visual WRB after my minimum profit level is reached or I will probably be stopped out for a loss. Since my losses are 3-6 ticks, I'm not concerned with those. What I am concerned with is getting out after a nice volume push and then looking to re-enter a trade.

[Anonymous]

BF;

I saw this pic in the volume gradient thread and thought of you. First note that the chart comes from Robert. Also note that this is a Constant Volume chart.

What I find interesting is the use of volume to color the bars based on the amount of up volume or down volume.

Now I know you exit at the close of the bar on a WRB.

Here I have shown a hypothetical trade. The entry is in yellow.

Suppose you entered here. Usually you would be looking to exit at the first WRB. However, here you would not. Why? Because you can see that the candle is DARK green. Which means an increase in UP volume. In other words, upside pressure is increasing. Thus you could stay with the position.

Next we move to the second WRB. Here the candle is a light green. This represents a decrease in the up volume vs. the average up volume for x periods. Here, you would want to exit as upside pressure is decreasing.

We see the same thing with the last two WRBs. One is able to stay in the trade a bit longer while feeling confident that the volume pressure is on his side. Just one chart example to be sure. But it looked like it could be up your alley.

[brownsfan019]

Pivot - very interesting indeed. Do you know how to set the coloring on the candles based on the volume? I may have to contact Robert or find it in the forum somewhere.

Thank you for sharing!!