Best of both worlds
In reviewing my weekly charts and looking at both the base and break setups off the 3-min chart and my normal setups off the :15 chart... something interesting occurred. I realized that the earliest signal off the :15 charts occurred at 11am and a lot of my B&B occurred before this time. So, I'm going to see how things go if I look for B&B trades till 11am then switch over to the :15 chart from there.
I'll still have my trendline alerts in effect and once they're hit I will flip over to the 3-min chart to see if there's any potential B&B setup. Sounds complicated but it's really not.
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3 comments:
00nr7: I find by trading off 15 min charts, I tend to get 3-4 signals on active days. Won't the 3 min generate more signals which might lead to overtrading?
Ralph
hey ralph. Well, you're technically correct. However, I'm using a different methodology with base and break trading off the 3-min charts than I do when I trade off the :15 charts. They both do not overlap. So, up till 11am I will look for particular setups related to B&B trades and after 11am I will switch back to my normal :15 charts. I just noticed that B&B trades can quite often occur before 11am and - with my current setup here in Paris - trading off the :15 charts will be better to wind down my evening here.
VISN 4/30
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