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Tradesy

The Tradesy, my Holy Grail of entry systems in StocksBacktesting my 50% retracement system for Apple stock is a perfect example of how it works. Drawing my bespoke fib levels from the previous low to the new high gives me my entry point, stop and initial target. ENTRY 50% STOP 25% TP1 100% Closing (selling) 50% of the initial position at TP1 allows the remaining 50% of the position to be risk free. There are two methods to manage the trade beyond the initial target:- Scaling out (conservative) = Closing 50% of the remaining position at each TP. TP2 (4R) TP3 (8R) TP4 (16R) TP5 (32R) etc,etc. Balls deep (aggressive) = Moving the stop to the previous entry price as each new TP is hit, accumulating a large risk free position which will eventually close out as structure breaks down.
NASDAQ:AAPLEducation
by Cryptsyxalt
1
The Butterfly Pattern, Tutorial (Basic)The Butterfly pattern, is a harmonic pattern discovered by Bryce Gilmore using his Wave trader software program. The pattern structure was further refined using specific Fibonacci levels by Scott Carney which he outlined in his book 'The Harmonic Trader', published in 1998. The Butterfly pattern must include an AB=CD pattern to be a valid signal. In general, the AB=CD Pattern will possess an extended CD leg that is 127.2% or 161.8% of the AB leg.
Education
by Cryptsyxalt
1
The Gartley Pattern, Tutorial (Basic)The Gartley Pattern , is a harmonic pattern discovered by H M Gartley and outlined in his book 'Profits in the Stock market', published in 1935. The pattern was further defined using specific Fibonacci levels by Scott Carney which he outlined in his book 'The Harmonic Trader', published in 1998. The pattern incorporates the 78.6% retracement of XA, as the defining element in the Potential Reversal Zone (PRZ). The B point must be at the 61.8% retracement of XA. The Gartley utilizes a minimum 127.2% projection of BC. In addition, the pattern should possess a distinct AB=CD pattern that converges in the same area as the 78.6% retracement of XA and the BC projection.
Education
by Cryptsyxalt
3
The Bat Pattern, Tutorial (Basic)The Bat Pattern, is a precise harmonic pattern discovered by Scott Carney in 2001 The pattern incorporates the 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ). The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The Bat utilizes a minimum 1.618BC projection. In addition, the AB=CD pattern within the Bat pattern is extended and usually requires a 1.27 AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.
Education
by Cryptsyxalt
22