In the May '09 issue of 'Stocks & Commodities Alan L. Binder put on a piece called, 'True Range, Reward/Risk & Position Size' I found compelling enough to spent some time in. It's a long-only strategy for stocks that pays little to no lip service determining trend or direction that I've tried to optimize for day trading commodities to vain avail. If you've read and studied the piece and have since found and excluded eliminating the exponent quotient for a popular fib projection, may I ask if you didn't give up entirely which constant did you decide on? The plan as it stands works well-enough as a histogram eye-balling where investors are toggling their stops at the very least but I believe in the strategy to streamline the entire market and reduce ranges as a sure-fire hit or miss. A pipe dream maybe, but on paper this strategy on its own is a winner. I just want to day-trade with it. Let's make a thread on it..