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DOK Chapter 3 http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=61&t=4019 |
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Author: | wrbtrader [ Mon Feb 25, 2019 12:21 am ] |
Post subject: | Re: DOK Chapter 3 |
Hi Wizzle, The engulfing pattern in chapter 3 is for example only. It was selected years ago because I met a few members that were using it in their WRB Analysis. 1) You using the Engulfing pattern as your trade signal strategy in your trades 2) If YES to above, what are your statistical analysis (results) of any backtesting or forward testing or both 3) If NO to the above, what is the general theme of your trade signal strategy that you plan to use with WRB Analysis The above question #3 is very important because users of WRB Analysis must have their own trade signal strategy to use with WRB Analysis. Yet, for illustration purposes only for DOKs involving tutorial chapter 3...they can use the generic explanation I gave about a Japanese Candlestick pattern called Engulfing. This is important because many users of WRB Analysis assume in error that the example I gave is the example the user should be using as their DOK example when in fact the user should be using his/her trade signal as a DOK for tutorial chapter 3. 4) Simply, is the Engulfing pattern your trade signal strategy and how long have you been using it Its much easier for me to work with traders that have their own trade signal strategy but the problem is that I don't know whom is using tutorial chapter 3. Therefore, I had to create an easy example that anybody can look up on the internet at any free webstie about Japanese Candlestick pattern...easy rules to follow in comparison to me using Ascending/Descending Patterns, Double Tops/Bottoms, Fibonacci Retracements...topics much more difficult to talk about in comparison to using a simple Japanese Candlestick pattern in the free study guide... A pattern that I do not use in my own trading...except for DOK illustration purposes only in tutorial chapter 3. Regards, M.A. Perry |
Author: | Wizzle [ Mon Feb 25, 2019 5:08 am ] |
Post subject: | Re: DOK Chapter 3 |
Hi Mr. Perry, I understand the engulfing pattern in chapter three is just an example and I am showing this just as part of the DOK to qualify for the FVB and chapters four and onwards. To be honest, with the (limited) trading that I have done I do not feel confident and competent enough to say I have my own strategy. In fact this is how I ended up on this website after doing more research into price action trading. Having said that, I do see ways to merge some of my ideas/strategies with WRB analysis. So to answer your question, no I do not use the engulfing pattern (in itself). I do every now and then use it as part of a bigger pattern, i.e. a wedge pullback or a two legged pullback, but I do not have reasonable statistical data for this. I hope this all makes sense. Wizzle |
Author: | wrbtrader [ Mon Feb 25, 2019 7:10 am ] |
Post subject: | Re: DOK Chapter 3 |
Hi, Thanks for the explanation that you do understand that the Engulfing pattern is used for illustration purposes only and that traders can use it for their DOK example even though it available for free at any Japanese Candlestick website or book. I've had a few users confused about WRB Analysis in that they thought in error that WRB Analysis was Japanese Candlestick Analysis because I used the Engulfing pattern as an example in tutorial chapter 3. Yet, your explanation also reveals a problem involving how you're going to post images of timestamp trade fills in broker trade execution platform of you using your trade signal strategy with WRB Analysis The above issue has been very problematic for some users of WRB Analysis trying to gain access to the Advance WRB Analysis Tutorial Chapter education content when they had no trade signal strategy to verify they understood & applied WRB Analysis along with any kind of recent statistical analysis of their trading (simulator or real money) prior to purchase of Advance WRB Analysis Tutorial Chapters. By the way, I'm going to reveiw your recent tutorial chapter 2 strong continuation price actions a little closer because I think there's a problem with them. I'll post a reply to them later today after a closer look. Regards, M.A. Perry TheStrategyLab.com Wizzle wrote: Hi Mr. Perry,
I understand the engulfing pattern in chapter three is just an example and I am showing this just as part of the DOK to qualify for the FVB and chapters four and onwards. To be honest, with the (limited) trading that I have done I do not feel confident and competent enough to say I have my own strategy. In fact this is how I ended up on this website after doing more research into price action trading. Having said that, I do see ways to merge some of my ideas/strategies with WRB analysis. So to answer your question, no I do not use the engulfing pattern (in itself). I do every now and then use it as part of a bigger pattern, i.e. a wedge pullback or a two legged pullback, but I do not have reasonable statistical data for this. I hope this all makes sense. Wizzle |
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