Salty Gibbon
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Jonny T
Apart from having no meaning, does it therefore follow that you believe they ( and any other candle ) have no significance whatsoever ?
TheBramble
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What is your exit criteria for this trade?babymush said:
or I will push my stop up when there is a swing low or some bearish signal forming.TheBramble
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Wasn't what I meant. All you've shown me is where the stop currently sits.
What is your exit 'criteria' - i.e. how would you write your general exit criteria for any trade using this system?
The other point is I'm not too clear on where you went in. If by 'breakout point' you mean closing through the upper bands(on Nov 22) - it's been well off its Highs and consolidating for almost 3 weeks now. How come you haven't already pulled the plug?
What is your exit 'criteria' - i.e. how would you write your general exit criteria for any trade using this system?
The other point is I'm not too clear on where you went in. If by 'breakout point' you mean closing through the upper bands(on Nov 22) - it's been well off its Highs and consolidating for almost 3 weeks now. How come you haven't already pulled the plug?
Hi
Sorry let me clarify myself.
My entry was at the Long White bar just before the Doji where it breaks the trading range for the past 10 days or so
My exit strategy is actually to let the trade run and move my stop closer and closer till it gets stop out.
Would there be another exit strategy that would be better to use?
Sorry let me clarify myself.
My entry was at the Long White bar just before the Doji where it breaks the trading range for the past 10 days or so
My exit strategy is actually to let the trade run and move my stop closer and closer till it gets stop out.
Would there be another exit strategy that would be better to use?
TheBramble
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BM - what precisely do you mean by "...move my stop closer and closer till it gets stop out"?
Closer and closer based on what?
What I'm trying for here is to understand how you would describe your exit strategy in language simple enough that a 5 year-old could understand it.
As for a better exit strategy, it's your system and you would want to test what works best for you.
One thing is to use the basis of the entry as a seed for the initial stop. As you're trading what seems to be a range breakout, you could look at an initial stop somewhere around the low of the range (for a Long)?
Closer and closer based on what?
What I'm trying for here is to understand how you would describe your exit strategy in language simple enough that a 5 year-old could understand it.
As for a better exit strategy, it's your system and you would want to test what works best for you.
One thing is to use the basis of the entry as a seed for the initial stop. As you're trading what seems to be a range breakout, you could look at an initial stop somewhere around the low of the range (for a Long)?
It's so difficult to answer this almost in abstract without knowing a lot more information that you haven't given, but if you want "guesswork" answers based on not very much, mine is either to close the trade now (perhaps re-opening it quickly if it climbs and that turned out to be unnecessary) or at least to move the stop well up, just below the gravestone Doji exactly as you suggest, yes. It honestly depends whether your trading method is one that takes just this one candle to mean that you shouldn't really be in a long trade. But I'd guess that that wouldn't be an unreasonable view to take, anyway.babymush said:
I would have to agree with rog1111 on this one. In my experiences (mainly futures), gravestone doji's work very well as reversals. (much better then its' bullish couterpart). Especially with such a spike in volume, I would be ready to exit this position soon.
-Nick
-Nick
