I'm asking how you do it, it's your method. Can you please use your preferences as answers? For example. Is a tick s/r line violation considered a breakout in your case ? Let's use you as a case for answers so I can understand better your ruleset in grey areas. Thanks
No. I used to. But then everybody who didn't want to do the work just copied me, and when things didn't work out to their liking, they blamed either me or the method. But, yes, a "violation" of R is a breakout. That's how a breakout is defined. Where you enter depends on your risk tolerance: a tick, two, four, eight, twelve, whatever, remembering that the longer you wait, the more likely you are to be chopped up. This is something you'll have to test. If you don't know how, I suggest you look at lajax' journal as this is what he's involved in presently.
This is extremely vague and unacceptable for someone so interested in teaching a method. If it's a tick above/below determined S/R, "tick fakes" will destroy you. Trader Vic 2Bs will absolutely crush you and if you keep reversing and a range form, unless you have limited number of losses (even if you using proper stops), they will hurt. If you pause and wait until the range is broken out (up or down) to decide if S/R is holding or breaking, the breakout of the Range itself could also do "tick fakes" or LL/HH fakes. Basically, you will only bank when you have clean breakouts, if price decides to chop you will suffer scars, many times plenty if you follow many of the things you suggest. Any reader with some experience under his belt, and I got plenty, sees a flashing red flag when a person presenting a system cannot systematically describe what constitutes a confirmation of a breakout. In other words, don't use that wildcard on me, Ive been around the block.
You don't act like it. Maybe we should be asking you to post your P/L lol Just kidding. I have my own P/L, and I can't think of any reason to be interested in anyone else's. Now, if I couldn't trade my way out of a paper bag, or I were a 1 lot engineer ...
Which is why I said that you have to decide for yourself how many ticks past R you want to see price move before you enter. I have no idea what your risk tolerance is. I have no idea how afraid you are to enter a trade at all. How can I tell you exactly where to enter and what type of entry to use? You have to decide what is "clean". No one can do that for you. All I can do is show you where the breakout is most likely to occur, which I have done. If you have "plenty" of experience and can't define what constitutes a confirmed breakout, then perhaps you haven't benefited as much from that experience as you should have.
I am asking how you define it, why would me asking how you do define it imply I don't know multiple ways of doing so ? Do you and your friends always belittle people when one has an honest question ? At the same time, risk tolerance is only a small fraction on how you define breakout confirmation. I can define risk just fine by adjusting size should the confirmation take more ticks or less depending on circumstances, don't see the logic here, what I do see are excuses. I could write a dozen ways of confirming a breakout, all with distinct pros and cons and none of them involve a vague answer, but then again Im not the one posting multiple threads in multiple boards on how to trade price. Last try, do you have a straight answer because knowing what I know, I don't think you do or maybe you are just afraid of presenting it.
What difference does it make how I define it since the confirmation of a breakout will be different for each trader depending on his risk tolerance? What is more important is whether or not you are able to implement this within the context of however you yourself confirm a breakout. If you're not interested in learning anything about it, much less implementing it, why are you here?
I am here trying to find out how you define a breakout confirmation around S/R levels, a simple basic technical question, and I cannot get that little bit from you. Asked nicely and was polite, instead you made assumptions about things you dont know about, me, and nothing on the topic at hand. What can I say, I leave disappointed, if a fellow trader approaches me with a question about a topic I'm discussing in pretty much every corner of the forums, I tend to be helpful, not to mention, respectful and make absolutely no assumptions about the trader, especially a stranger. You made your responses about me, instead of your method, food for thought.