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lctrcbddha
28 posts
msg #68671
Ignore lctrcbddha
10/22/2008 11:19:52 AM

I'm not actively trading this (yet). But from what I understand, TRO says...

For down gaps - when a green candle is above the open by .20, buy.
For up gaps - when a red candle is below the open by .20, short.
Don't wait for the candles to close. Just do it.

Exit at any weakness. I'm still not sure how "weakness" is defined. Sometimes TRO says to just scalp .10, sometimes he says to let it ride.

The sell stop is the opposite end of the buy zone than your entry. But TRO says you should have already scalped your .10 before that happens.

If the price moves your way by 1.00 and stops, TRO says to exit. Again, sometimes TRO says to let it ride though.

After the gap closes, yes continue using the original buy zone. However, one is not limited to trading only in the direction of the gap once the gap has been filled.

Yeah, there does seem to be an uncomfortable degree of "feeling" and "knowing" with this method, especially with regard to whether to scalp before a loss or let it ride. Even if you just let it ride though, the statistics are on your side.

ultra5150 wrote:

> When you fade the gap, do you actually watch your screen all days, and just use your
> instinct to get out of a trade (like when the price is whipsawing), or if there's a special
> trick to it?

> Do you set a particular point to take profit? How do you know if the price will continue
> to run higher or lower?

> Without a sell stop, how can you tell the day is not gonna go your way? Or do you just
> hold your breath and watch?

> After the gap is filled, you said you will trade both up and down, do you still stick with
> the original buy zone (open +- $0.10)?

> I have looked through this thread and maybe I missed it, but I don't understand the key
> to entries and exits, perhaps you or someone who are trading with this strategy can help?

TheRumpledOne
6,358 posts
msg #68672
Ignore TheRumpledOne
10/22/2008 11:32:38 AM

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GAP FILL!

TheRumpledOne
6,358 posts
msg #68673
Ignore TheRumpledOne
10/22/2008 11:33:44 AM

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DIMES COUNT, TOO.

TheRumpledOne
6,358 posts
msg #68674
Ignore TheRumpledOne
10/22/2008 11:35:29 AM

luc1grunt

Avery, I think many of those seeking more knowledge of your system wish to know your trade entry, stop (mental or physical), profit goals and overall trade management.

Since you are posting nearly real time, a great education may be provided if you show the live trades and your thought processes.

Many on here understand them and know "how to trade", but to those "relatively" new, this would benefit greatly.

I did exactly that in the daytrading tips thread.

Just a suggestion my friend.

Grunt

===================

I have posted the BUY ZONE RULES.

There is NO THINKING INVOLVED.

It's all REACTION.



luc1grunt
622 posts
msg #68675
Ignore luc1grunt
10/22/2008 12:07:45 PM

I understand (always have)....the post was for others who continue to ask the same questions.

I don't think they lack intelligence or ability, I think just want clarification. Human nature to be inquisitive.

Maybe this will do.

TheRumpledOne
6,358 posts
msg #68677
Ignore TheRumpledOne
10/22/2008 2:01:00 PM

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GOOD EARNINGS.



TheRumpledOne
6,358 posts
msg #68678
Ignore TheRumpledOne
10/22/2008 2:04:55 PM

luc1grunt

I understand (always have)....the post was for others who continue to ask the same questions.

I don't think they lack intelligence or ability, I think just want clarification. Human nature to be inquisitive.

Maybe this will do.

==========================

It's too simple.

Most people won't accept a simple system.

There is no further explaination.

Green candle at open +.10 go long

Red candle at open - .10 go short

Only trade "Cows".

If you can NOT see that the "STOP" is built in then this system is NOT for you.

You should see how simple my new FOREX system is. If you can count to 10 and are NOT colorblind, then you can rake it in. It's in the NEVER LOSE AGAIN thread on www.kreslik.com



impliedvolatility
8 posts
msg #68679
Ignore impliedvolatility
10/22/2008 2:10:41 PM

luc1Grunt:

The entry rules are very obvious and mechanical. The trade exit is not. You have to familiarize yourself with the scan that finds the cows to understand that TRO is looking for a statistical edge. This edge will give you a lot of small profitable, but boring trades.

TRO also says that you have to learn to trade one market like AAPL very well. If you do this the exits should become more profitable the longer you trade.

I don't know if this helps your understanding and I may have gotten it wrong...good luck.

luc1grunt
622 posts
msg #68681
Ignore luc1grunt
10/22/2008 2:56:51 PM

LOL.

As I said, the explanation is not for me. I've been trading the gaps for a couple years and don't need an explanation.

Is there a full moon?

ROFL,.

TheRumpledOne
6,358 posts
msg #68683
Ignore TheRumpledOne
10/22/2008 3:11:19 PM

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Like a moth to the flame...

PRICE MUST LEAVE THE BUYZONE!!

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