mikewinfrey

Thanks for writing the article. If I interpret your explanation correctly, using a price proxy means the entry price is behind the close of the trigger bar and the market must retrace to that price in order for an entry to occur. That also means some entries may be missed if that retrace does not occur. Am I reading you correctly? By the way, I appreciate the definition of the different phases. Thanks, Mike Winfrey

have you actually coded this as you describe with random entries? i just did and it doesn't work out as a profitable system or at least i don't see how it can. i used risk:reward ratios of 1:2, 1:1.5, 1:2,1:3 and 2:1, 2.5:1, 3:1. none of those were profitable. in fact, they were horribly unprofitable which is exactly what i figured they would be. Also, i used a renko brick that accounts for the full range that price goes to form the brick. using renko creates a uniformand bounded view of the market and as long i choose stops and target beyond the range of the brick, i don't have to worry about intrabar wiggel as opposed to other bar types. that is why i chose the renko for this exercise.

Now aren't you the shameless one...You're the author or it sure looks like it. Chapter Five refers to Spear Point trading and coincidentally your name is SpearPointTrader. Glad I didn't actually pay .99 for it. If you want to sell something at least be honest about who you are and what you have to offer. You might actually have more success like that and build some credibility along the way.