Method Q/Approach Conformation
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Tkimble – Would you confirm 01/11/07 trade approach conforms to your method?
On 01/11/07, there was a GBPUSD long signal at 02:00 PST @ 1.9358. Between 04:30 and 05:30/06:00 (PST), a strong break-out occurred that caused the 21 ATR to spike up over 0.0023/ 0.0026 (which I consider high). Based on my understanding of your method, I tightened my stop to trail by 50 pips (vs. 100 pips) because of the high ATR. At 06:30, stop took out the trade during the pull-back at 1.9449 (a 91 pip gain). Since then, RSI has remained above 50. As the method only enters trades on new RSI crosses, I am on the sidelines waiting for the next valid trade signal.
<o></o>I’ve very content with the 91 pip gain, but as I watch GBPUSD rally on after the pull-back, I starting wondering if I implementing your method correctly. Can you confirm if my actions conformed to your method? If not, can you clarify any errors on my implementation to your approach?
<o></o>As said by many others within this forum, thanks for an outstanding method!
<o></o>Regards.
DFoster
<o> </o>
Tkimble – Would you confirm 01/11/07 trade approach conforms to your method?
On 01/11/07, there was a GBPUSD long signal at 02:00 PST @ 1.9358. Between 04:30 and 05:30/06:00 (PST), a strong break-out occurred that caused the 21 ATR to spike up over 0.0023/ 0.0026 (which I consider high). Based on my understanding of your method, I tightened my stop to trail by 50 pips (vs. 100 pips) because of the high ATR. At 06:30, stop took out the trade during the pull-back at 1.9449 (a 91 pip gain). Since then, RSI has remained above 50. As the method only enters trades on new RSI crosses, I am on the sidelines waiting for the next valid trade signal.
<o></o>I’ve very content with the 91 pip gain, but as I watch GBPUSD rally on after the pull-back, I starting wondering if I implementing your method correctly. Can you confirm if my actions conformed to your method? If not, can you clarify any errors on my implementation to your approach?
<o></o>As said by many others within this forum, thanks for an outstanding method!
<o></o>Regards.
DFoster