Based on taking over 40-50 LIVE real money trades with Charles method, I found it to be superior to any other mechanical method I have ever tried and in the last 5 years x 6 hours per day x 7 days a week, believe me, I have tried plenty!
But, in life there are few things that can not be improved on, even Charles will tell you that...
I stumbled onto Perry's webineer recently and was very impressed with his method. Over the last few days, the lightbulb went off in my head; I wondered what would happen if I could take the best of both methods and combine them together? And how could I judge objectively, one chart items performance superiority over the others.
What I did was place the charts of both methods side-by side and then backtested over the last 200 trades.
I love Charles's style of determining Price structure on the 1508 chart with all its nuances for a Long trade, Short trade, Pick and roll, etc. However I found my trade entry determination and ultimately trade profitablilty slightly improved when I used Perry's entry stratagy on the 377 chart. I personally found it to be less ambigious than Charlies 377 entry setup/criteria, and after all isn't that what we are all striving for, less ambiguity and better entry selection?
Bobby, Charles has specifically asked that people not post stuff not related to his method in this thread. That would include Perry's method.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
Because, based on Charles textbook rules on the 1508 you don't have a HH swing inside of cloud.
On the 377, it appears the Big triggers are missing from your chart.
On the 377, where you point to the entry, the stochastic is already at 50% level.
On the 377 , the triggers lines you do have, are not Blue at your entry point, nor are they spread apart!
What is my point?
That all systems/method should lend themselves to being adaptable to some changes in order to stay robust.
I guess I just took the liberty of doing that before you did.
In the end, what matters is that you win at this incredibily difficult game.
Once again, Nice trade!!!!!!!!!!!!!!!!!!!
Last edited by bobbyacim; September 8th, 2011 at 05:13 PM.
Thanks for all of your work and thanks for also verifying that Biggz made a proper trade according to YOUR rules!! Obviously "Bobby" missed one of your recent videos because that example he posted in response showed he had no clue why Biggz took the trade....................Bobby, I'm 53 and going to guess you are younger than 30. My advice to you is to slow down with your excitement.......................
The following 3 users say Thank You to rosow for this post: