I believe by a ramp he means a quick favorable move in his direction. An EOB stop is an End of Bar stop where you place your trailing stop just below the L of the bar (3min, 5, 10...) if you're long. This works well towards the end of day or after a fast ramp up or down in prices.
Note, however, that he backtested it for four weeks at the end of December '00 when the NQ was 1500 points higher. It's unlikely that you'd make 60 pts a day with it, and the chop we've been experiencing and which is a problem with MA XO systems would likely take back most or all of your profits. It would be interesting to know how it compares to the system you're currently using. --Db
Cathy I'm with you. I posted a similar idea a little bit ago on the Keeping it Simple thread. The monkey thing is very similar. It is really just a rehash of the trend within a trend concept. They all work if traded properly. I agree with your previous posts that even though the method is simple in design, the results can be enhanced by having a feel for the particular trade itself. That of course adds subjectivity, which might or might not be a good thing.
I use a 3 minute chart with a 13 minute overlay. Stochastics, previous days open, high, low, close......I use bollingers to define range, but since I use candlesticks it is not neccessary really. I also do long term trading with the same idea on a daily chart, using the 50 and 200 MA as the larger trends.