ISpec, would you mind sharing with us in a paragraph or two, explaining the concept of a "Holy Grail" setup? I recall reading about that in Linda Raschke's book, but the details don't come back all that clearly. OK to use Candlestick-ease, I think we all know that here, or can look them up.
I do remember, from LBR's book, that it's a VERY GOOD setup, and that the joke is there of course IS NO "Holy Grail" in this business (but this is about as close as it gets). I'm sure a lot of stock traders here would find it of interest, and I know your trading room group is actively using it, very succcessfully.
I notice you use the Turtle Soup and Turtle Soup plus one a lot too, as I recall a TS is when you get a failure on a breakout (thus, fading the turtles, who traded breakouts - "Turtle Soup" being the joke).
Great watching the S&P Futures chat room again today... a lot of trading prowess/finesse on display there... trading stocks is, by comparison, kind of like using a jackhammer to get the same job done (make a profit) <g>
Suggestion for the visiting trader wannabee: pull her account up and have her start day-trading it, with live bullets. This will get her attention & change her perspective just a bit...
-Steve |
