This tutorial is meant to simplify trading breakouts, avoid getting stop-probed, busting some myths and the logic behind breakout patterns. This is my first article any sort of feedback is welcome as long as it is civil.
Commentaire
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Note that this example was not a retrospective study but my actual trade with real capital. I had to exit early because of capital misallocation and I exited with 1R profit.
Thank you for your valuable contribution to the TradingView community and keep up the good work!
I like Bollinger breakouts. Bit similar to this. I look for more compression prior to breakout.
vorayash05
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@Angusmck, Yeah. This was not as compressed as I would have liked either but the market action was desirable enough for me to trade. Thanks for your input!
If you would have said, "I never use Fibonacci, triangles, wedges.... for xyz reason" that would have been an acceptable statement.
But here you have used in general statement that too, as you yourself said without testing (as you don't have data for the same), without much study and knowledge.
Why create a controversy unnecessary?
If your system works well, good for you. But do you really need to downgrade others, just to show how great your system is or how great you are, that too based on your own perceptions and restrictions and half knowledge?
Think about it... and next time, chose your words carefully 🙂
All the best and continue writing...👍
vorayash05
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@indiamarketoutlook,
Did I explicitly mention my system is great? No. I am just sharing my system.
Did I explicitly downgrade anyone? No. I am just sharing my views.
Are my views, as you said, "on your perceptions and half-knowledge?" No. I have a scientific background and have learned some very advanced mathematics. I can also link the statistical work and various resources to back my claim.
Just because my views challenge certain things that do not mean I am here to downgrade anyone. I knew some people would be very upset and that's why even though I have been trading for a while now, I never wanted to publish anything because it is going to create unnecessary outrage. It's not worth it. I am not going to make a penny out of this and people will hate me for no reason. I am probably just going to add my trades and keep it simple, no education. Then people can take whatever they want from it.
indiamarketoutlook
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@vorayash05, when i say downgraded I do not mean people. I meant other technical aspects of the game.
in a way your 2nd point in chart does mention that your system is better whereas you have downgraded other Technical Analysis aspect like triangles, wedges are unnecessary complications and MY SIMPLE LINE is a good way...
Thank you for your valuable contribution to the TradingView community and keep up the good work!
I like Bollinger breakouts. Bit similar to this. I look for more compression prior to breakout.