DislikedThat is true, tkimbleīs system is close to the first strike, but also it isnīt. The entry is similar, just with different pips for stops. The main difference is, that tkimbleīs system is trying to get into the weekly trend up to 4 times, whereas The First Strike only gives it one shot, thatīs why Iīm surprised that OzzieDave is still in the EUR/USD, as the long one was triggered first and stopped out, so the short entry was cancelled. But Iīm short in the very same pair too, just for different reasons. As my long got stopped out, I was free to trade whatever I saw on the chart - 123 pips in profit right now.
In all the trades Iīm still in, I just added positions in the weekly trend direction using DIBS or discretionary entries, which worked fantastic this week my equity being up 7% by risking 0.5% on each entry and taking profits for partial lots to get the free rides based on DIBS
Not every week will be like that, but thatīs part of the business.
Anyway - to come back to the point I tried to make - I cannot recommend tkimbleīs thread in the way to understand TRTīs strategies, as TRT trades The First Strike just once a week. He says that people should feel free to take several tries, if they get stopped out, but the probability for the second trade to be a winner is down to 75% of the probability of the first one. That is why he doesnīt re-enter.
I recommend to go to his website and apply for the newsletter and read every single post of the blog, as you can learn a lot from that, not just about the systems but the marketsIgnored
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Indicators show the past. Price Action "Indicates" the future.
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Many share my views with me. But I don't share them with them...
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Haste not to Enter AND Haste not to Exit !-TradeStar
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Just Trade It
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Indicators show the past. Price Action "Indicates" the future.
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Haste not to Enter AND Haste not to Exit !-TradeStar
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Many share my views with me. But I don't share them with them...