bredin wrote:What I meant by amusing is that some guys will take an idea or method, misconstrue its purpose, construct an example that 'doesnt work' then declare that idea or method invalid.
Anyway. On your sadface chart it is clear that price is closing below 'something'. in this case supply, which gets wicked nicely for a classic short play... anywhere in that rise was a good place to get short, with enough space to ride back to supply, expanding if necessary.
the threads entitled 'blind mouse' and 'ideas that I trade by' are (excuse the pun) Mighty Useful.
G.
So, I take it that you can't or will not fulfill the critique/chart request. My opinion is that if you publish a strategy in a forum it should work in many if not all market conditions. I find the DTB Rat Zone trades to be a very high probability strategy with the rules well documented..
On the other hand let's analyze the Trick, Blow, Wiggle, strategy, it will not work consistently in it's verbatim form. and it is indefensible. Your second post adds veiled clarity which suggest it could have worked if one was privy to other unknown rules.
"All I'll say is that basic idea (presented by MO) is fantastically profitable."
"One trick that you can use (assuming you trade 3 lots) is to place a limit order for 2 lots (15 pips = 2%)"
Good so far.
" and when(?) price blows through it set a sell stop for 1 lot at the entry price (10 pips = 2%)."
A two lot 15 pip gain is protected by entering a ONE lot stop at entry? I beg to differ on this being a " basic idea (presented by MO) is fantastically profitable"
"Provided you know something about the fundamentals of market movement."
My understanding of " the fundamentals of market movement" is it moves up and down, no one knows precisely how far.
"And a little math wouldn't hurt."
Two long entry lots protected by one stop at entry equals one long entry still running below entry.
To me that's not the sort of math to use trading or scalping.
Continuing on with the math in " basic idea (presented by MO) is fantastically profitable"...................
"You still have a 10 pip stop but you had 15 pips of room while you were wiggling your way into a trade."
You had non realized $300 profit on two L.E. lots, price reversed and took out one L.E. lot. Now you have "You still have a 10 pip stop? to end at - $100.
Thanks, but this laughable scalper prefers the Rat trade math, " Do not give back more than 50% of your profit".
