An Edge for an Edge (System Development)

why shoul you put profit target? don't limit your profit, let it run.
you close the position when price breaks the middle bb band (like in that picture) or you close it when price breaks below of upper band

reversal
other trick (using inside days, but with less trade setups)
use daily charts
for long (reverse for sell)
after at least 3 bearsih days (each bar should do a lower low than the yesterday bar) an inside day is formed (if the inside day its bullish its a high probability trade)
entry long if actual price is higher than the high of inside bar
stop low of insideday
take profit target should be at least 10x the size of inside bar

another trick, formed by 2 bars
define long term trend
go on lower timeframes
go long in an uptrend/go short in downtrend

for long(reverse for short)
the long term trend is bullish
1. price has made the highest high in at least 3 bars
2. price has made a lower low than last bar low
3. buy if actual price is higher than the high of 1'st bar
4. stop at second bar low or set stop at current bar low

other trick (not something new, its in every good book on ta)
they are saing that failed patterns are more powerfull (i think its true, because after an pattern its failing people are rushing to exit the losing trade, and driving the price in the oposite direction).

define long term trend
go on lower timeframes
go long in an uptrend/go short in downtrend

for long(reverse for short)
the long term trend is bullish
search for failed inside bar patterns (better to look after comppresion zone, with more than one inside day)
after an compresion zone go long only if: price made only one lower low bar after compresion zone, and next bar (current price) is higher than the high of compresion zone

another trick (some people are calling it a V reversal)
define long term trend
go on lower timeframes
go long in an uptrend/go short in downtrend

for long(reverse for short)
the long term trend is bullish
1. if after at least 3 lower low next bar ith breaking trouch the last 2 highs and price is Closing in the top of the 80% range of candle then
2. go long at the open
3. stop at lowest low finded in the setup

another trick (the basic concept its based on crabel's research)
define long term trend
go on lower timeframes
go long in an uptrend/go short in downtrend

for long(reverse for short)
the long term trend is bullish
1. if after at least 3 lower lows, next bar has the smallest range from the previous 3 bars
2. go long when price breaks the high of the smallest bar
3. stop last low

(this trade generated a reward of 243 to initial risk, but how many people are able to hold for 14 months, and how many are able to loss 22 time in row?)

old trick, they start improving this trick in tulip mania time and every day after that.
only for stock and go long only

1. look for buy after 3 daily close above ema200
2. buy next day at the open or when price is above yesterday high (less setups, with a lower reward but with a higher winrate so it's up to you to chose the thing that fits your personality) if yesterday volume was bigger than any of the last 4 days
3. stop at the lowest low from last 2 days.
4. exit the trade next day after an daily close below ema200

again an inside bar concept
define long term trend, go long in an uptrend/short in downtrend
take the setups that are made after a new high/new low in the daily trend or change to the lower timeframe and also take only the setups that are making new lows/new highs (like for ex: go short if an inside bar is formed on 4h and and the break of the inside bar low its at the lowest low in the last 5 bars or the lowes low int that sesion,using 4h charts that means lowest low in the current week)
stop at the other side of insidebar

i like selling or buying breakouts at new lows/new highs because most of the time you will found very fast if it's a wrong trade or not, and if the trade its right then many people will rush to close the traade because they have stops over thern and price will continue to go further in the direection of the breakout.

old trick, working poorly now (but i post, maybe the logic and conncept behind this trick will help others to find new patterns in markets)
define long term trendv using daily charts, go long in an uptrend/short in downtrend
search for this setup on lower timeframes

from time to time i will make some counter trend bets (maybe i take 3 to 7,8 trades per year like that) but risking less than when i'm following trends.
on this tipes of bets i'm willing to go only Long on USD and shorting some whortless currecncies, or going lond in commodities markets (corn, sugar, copper eg.)
but even like that, it;s not that i'm going long at the low (the market it's bearish, nobody can pick the exact bottom/top and markets can stay irrational more than i can stay solvent) i'm going long when the percived short term trend it's bullsih (you see, even trading counter-trends in fact, at the very basic of trading you are doing trend trading).
this is how i'm doing it: after an extensive bearish trend i will look for 3 consecutive bearsih days (or u can look for only 2 consecutive bearish days) the last 2 bearish days in the setup shoul be also the lowes bars in 20 respectivly 21 days, if next day price is breacking the highs of the last 2 candles i'm going long.(if not i just ignore the setup)
the exit is tricky
p.s. from time to time i will go long also CHF (yes the swiss because even dirty money from drug trafficking to human trafficking are flying to that country)

i friend of mine is trading using 120 daily donchian channel and sma50 as stop and trailing stop
after first entry/signal on daily chart he told me that he is going to lower timeframes to add more possitions int the direction of the trend also using signals from donchian channel but he didn't told me the the setup he is using on lower timeframes (he was like: mate, wee are friends but this is a true edge )) )

trade like a market wizard, similar concept used by bruce kovner, but for the crowd here better use this concept to trade stocks, going long only.
trading universe: stocks above 30usd and go long only
use only weekly charts (or monthly)
after a consolidation phase buy when price is above the high of conosildation range with at least 10 cents
the consolidation phase should have a lenght of 7 weeks or more, if less ignore the
stop in the middle of conolidation range (or divide the range to 3 to place your stop, the reward will be bigger but the winrate will sufer so just use what its suits your psychology)

same concept like above, with a small twist
trading universe: stocks above 30usd and go long only
use only weekly charts (or monthly) to generate the buy signal, after you find the buy signal go to daily timeframe
go long with 5 minutes before market close if today is a bullish day and actual price is above of the trading range wiht at least 10 cents
stop in the middle of conolidation range (or divide the range to 3 to place your stop, the reward will be bigger but the winrate will sufer so just use what its suits your psychology) or in this case put the stop at the lowest low in 2 or 3 days

another old concept, the 1-2-3 pattern
trading universe and rules: long and short commodities, long and short currencies, long and short stock indicies, long only in stocks
define long term trend using ema200 on daily charts, after long term trend defined go to lower timeframes (1h and below)
buy in uptrend and sell in downtrend
take only setups that are formed intra-day (from the open of the trading day to the close of the day) if the patter is build betewn 2 days ignore the setup. this rule helps to avoid overtrading (you will find less setups)
exit the trade when stop loss is hit
or if it's a profitable trade exit when price breakst trouch daily ema200
if the trend is still going just build more positions

lizard days, pin bar concept
for long (reverse for short)
1. the open and close of yesterday bar (signal bar) must be in the upper quarter
2. the low of signal day should be the lowest low in 10 days (or 5 days if you want to have more signals
3. go long 10 cents above yesterday high

use the concept to build only long positions in stocks that are above 35 usd

old trick, for stocks and indicies only
for long (reverse for short)
1. yesterday open price opened lower than lowest low in 20 days (making a gap)
2. yesterday close price is in upper half of the bar
3. buy today if price is above with 10 cents than yesterday high
4. stop yesterday low

or

define long term trend (using ma200 or similar concepts) buy only in uptrends and only sell in downtrends
for long (reverse for short)
1. yesterday open price opened lower than lowest low in 3 or 5 days (like in the picture, is the signal generated above the ma)
2. yesterday close price is in upper half of the bar
3. buy today if price is above with 10 cents than yesterday high
4. stop yesterday low

old trick, for stocks and indicies only (strong setup)
for long (reverse for short)
1. the high of the first signal bar was the highest high in 20 day
2. in the second day price made a lower low than signal bar
3. buy tomorow if price is above 10 cents than yesterday high
4. stop yesterday low

expansion day
trading universe and rules: long and short commodities, long and short currencies, long and short stock indicies, long and short stocks
for long (reverse for short)
1. yesterday price made a new 20 day high and the trading range of this day is higher than of the last 9 days or at least equal with the biggest range from the last 9 day
2. go long today when price is above yesterday high
3. stop yesterday low
(you can build a bigger position using a 5 day expansion day rule, but go in the direction of the long term trend then)

More Grace to you M3rlin.

Thank you for being so kind to share with everyone

since we just enter at any engulfing and its not from breakout or start of a trend therefore we aim for quick profit, the the tp must be the nearest support/ resistance, and for SL i,d say break even till 1:1