Re: Trading Pullbacks System

#842
josi wrote:
Thu Jul 22, 2021 3:59 pm
you are quite right, of course - and as long there is a 2nd touch (retest) after the TL-break you get a pretty good entry price.
And in hindsight it all looks easy enough... but only in hindsight:
Those times, however, when this is not the case, you have to buy a market high (up) or low (down) and that can really hurt (if - God forbid - you buy/sell a fake-BO (and, as Adam Grimes has proven statistically, most breakouts fail)).
Especially for pullbacks in a clear trend it could (I am just saying, nobody has to agree) make sense if you bought (close to) the low of the pullback in an uptrend/(close to) the high of the pullback in a downtrend.
So - my unqualiified opinion - MAs (for example Jurik) could have a place for continuation trades in such an environment.
Don't take my word for it: Just look at your entries using TLs and then look at possible entries using MA (but you have to be sure about trend direction before you think about it).
But what do I know?

Re: Trading Pullbacks System

#843
Ok just to be clear: the charts I post here are not made after the fact (in hindsight)-I use a mechanical /non repainting approach with zero discretion

Re: Trading Pullbacks System

#845
josi wrote:
Thu Jul 22, 2021 4:15 pm
Josi, I disagree with you...at least partly. Of course the Jurik line is tradable. I simply prefer trendlines because the price doesn't constantly cross the line and I can decide where to put them.......i.e. I get a clearer picture.
1) This is my actual trading chart, not hindsight. If I could trade the latter I'd make tons of money....With the former I get merely a ton... :D
2) Breakouts fail....Yes, in my experience mostly because people trade zoomed in charts. I zoom them out as you can see and get a much better picture. Consolidation..break...consolidation...break...trend...break......and so on....day in day out. Secondly I look for direction on higher TFs.
My breakouts hardly fail and the money I pay for that is small. Usually when I haven't paid appropriate attention.

Just to make my point.... last one Meyney..... :D
Josi, you could not trade that ...US30 European opening ....with the Jurik MA line.....Yet with simple trendlines it separates the erratic price action very well.
I scalp that every day. Love fast price action

Trendlines_2.JPG


Re: Trading Pullbacks System

#847
notice wrote:
Thu Jul 22, 2021 9:30 pm
GU TF 5M
Thank you, RplusT !
Great! That's the way to go. Boosts confidence. Can't take it all anyway. Who wants to sit in front of the computer all day.!
Wouldn't have taken your missed trade with a possible S/R level right above it. But after the break of that level it would have been worth a try I guess.

Re: Trading Pullbacks System

#848
Just to make my point.... last one Meyney..... :D
Josi, you could not trade that ...US30 European opening ....with the Jurik MA line.....Yet with simple trendlines it separates the erratic price action very well.
I scalp that every day. Love fast price action

yup nice clean and sweet
#WS30mM122-7-21.png


  1. Similar Topics

    1. Help for Introduce Good trading system for Trading

      8 Replies 2499 Views

      by alijvhr, Fri May 14, 2021 5:17 pm in Trading Systems

      8 Replies
      2499 Views
    2. What trading system is this?

      11 Replies 3965 Views

      by Mukhari325, Mon Mar 22, 2021 8:24 pm in Trading Systems

      11 Replies
      3965 Views
    3. Searching for Simo_v7 Trading System!

      2 Replies 1329 Views

      by dmnik, Sun Jan 10, 2021 1:25 am in Trading Systems

      2 Replies
      1329 Views

Return to “Trading Systems”