Hi TheRumpleOne,thanks for making me notice this interesting method
I have looked into this method and it seems to be valid, i am keeping the main rule about the wait for 3 green bars in a row(10min chart) and then go short on the next red bar.
I am adding some other things to this to make it even better, as entrys and exits are very fluid and not easy to pinpoint as 10min chart is a big timefram in my opinion. I am using a much smaller timefram to get me into the trade with a small stop and it also provids me with a exit. So if its a runner i will catch most of it, if its not a good trade, my moneymanagment will make sure its a breakeven trade and not a looser.I have achived a 75% winning rating with automating it with some modifications, and i am very impressed.I am using it as a scalper in my bread and butter automated system. Its really a nice addition to it.
Anyways, i would like to thank you for showing me this interesting patern, was right infront of my noose, but never dide see it.
For those who are negative to the method i think its cause the thread is called Never loose again, and this method do have loosing trades, like everyhing nothing is perfect.but this one have a high percentage winning rate if done correctly.
But using it right of the box like presented, i can see anyone who are automating this will get bad results.Cause why scalp it when there is a potential a big move you can have, having fixed targes for this method is not a good idea as you will giving away alot of ticks. Cause when you have a few loosers the big movers will make up for it.
Anyways, thanks for the method and good luck to you
With kind regards
Bashir Naimy