murray t turtle
Registered: Dec 2001
05-29-12 11:45 PM
Quote from What:
yeah he almost takes for granted that after 3 support confirmations, the next support will be strong enough to break out of the channel..
he says that trading breakouts when they appear to occur is dangerous.. from your experience, guys, is it really dangerous? do you come across false breakouts so often that you are discouraged to trade breakouts again? Just trying to figure what happens as I might start trading breakouts
3 supports, then breakthru? Maybe, but do not count on much support in a bear market/bear trend., at all.
Well, want to define a false breakout as profitable 30-40%?That win %[35% win, 65% losers] is quite common amoung long term trend followers who do quite well.
I do want to lknow the difference between a trend & countertrend, difference between an up trend & downtrend & sideways trend.[sideways slop]
Wisdom is profitable to direct