More to the point, how the hell can you make money relying on Monthly or Daily charts??? You're telling me that you have a 3:1 R:R method, but you have to wait days or even weeks for a result? Absolutely none of this adds up unless you are trading using percentages and have a huge pot. In which case, buy high dividend yielding shares and reveal yourself as an investor, cos that's all it really is... This break out of a 'Kings box'? now show some live entries over the coming days, cos i can gaurantee that it will have just as many failures as winners...
As to stop loss. BigE did not use stop loss either. When at computer exit when green goes flat, check mark, hook. Not at computer, yes then put a stop loss or in profit move TP to break even + spread or trailer stop. (Reading BigE's post's it seemed that most of his trades went straight into profit)
One way of finding the entry. You need to know what the bar and wick is trying to tell you. This is way I prefer to use TMS.
In the beginning, about 18 month's ago it was not simple and extremely difficult. Now it is simple, but not easy
Tool programming does not use indicator buffers.
