~ Old Dog / New Tricks ~
Hello all,
I'm still getting PM's about my GJ system, so hopefully I can quash any confusion in this thread. Maybe even find someone to help me improve it..?
The basic idea is breakout, but with very specific filters. The filters are the key ( as with any method I suppose ). As you can see on the chart, I'm using the "trillion dollar days" indicator and a 60 sma. I modified the "trillion dollar days" indicator a bit and renamed it "Dans Asain Breakout". ( I just don't want folks to think I'm taking credit for the indicator ) I modified some colors and inputs, but that's it. If you install the attached Temp and indicator you can see for yourself...
My Breakout Method: I enter trades when the price touches the dotted dark blue line ( entry can be long or short ) and exit my position when the price touches the solid lite blue line. I use a 70 + spread stop on all trades. The green, pink and yellow dotted lines are: open, close and med price respectivly and they only refer to the "pre-entry" price range. I only take a trade in the direction of the 60 sma ( solid yellow line ). If the 60 sma is flat or bouncing, I leave the market alone. The GJ trends often enough, so you can be picky about your trades.
That's it. Take a look on the historical charts and let me know what you think. I've been using this method successfully for a couple years now, but I am always open to new ideas...
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