Bill Graves Veteran   Posts: 125 Joined: 11/25/2006 Location: Phoenix, Arizona  User Profile | Price has touched the 20 ema. At the close today, I will be placing a buy stop at 3.34. We want price to take out today's high. This is an important part of the system. Should the close today be > 3.32, I will have to adjust my order. If we are to follow Linda's successful setup, we must wait for price to take out the high of the low bar. If we make a new low tomorrow, I must adjust my order to take out the high of that new low bar. Please note that Price only has to touch the 20 ema. I have noticed both in this thread and in a "grail thread" in the Nirvana Club forum, that the OmniLanguage coding is not following Linda's rules, which are posted at the beginning of this thread. At the same time, I appreciate that every trader is free to create his own system. Progress is made through improvement. This is a natural evolution. The trade rules I posted at the beginning of this thread are the ones from Linda's book Street Smarts. Since then, Linda has improved her own system by requiring that the ADX has not fallen below 25 at the time of execution. This additional filter, if employed, greatly improves the overall odds of success. We want to insure trend is still strong. Best regards to all,  Attached file : Grail_20070531-2-EOD.png (29KB - 714 downloads) |
