| | | I really like your system. It is a bit too "slow" for my taste but it has good risk/reward parameters, with defined stops and targets.
I trade primarily with MAs, focusing mainly on the 5 ma passing through the 10 ma. I prefer a set up prior to the cross, such as wedges, trendline breaks, pennants, flags, etc..When you get a 5 and 10 cross coupled with a breakout (up or down) of a set up it usually works out to a nice trade.
One last thing I like to do is to trade units. So if I enter into a position, i like to buy a certain amount of units, such as 150 shares, broken down into 3 units. Then I set stops at a predetermined point (decided prior to entering the trade) and sell the first unit (50 shares) at target 1, then 2nd unit target 2 and 3rd at target 3, often using trailing stops.
For my system to work, entry price is probably the most important thing. So, it is best when I only make trades that have a high probability of success focused on specific target entries. In this regard, it is similar to your system, although I will enter a trade sooner than you tend to, with a higher risk of being stopped out.
Anyway, thanks again for talking TA with the board. It is great to read and use it to hone my own trading style. |
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