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Please let me know what you think of the system I put together based on the Videos in section 13. I have viewed up through Video 44, but I'm going back to see what I can learn from using this system in a Paper Trading account.
"Always In" trading system
Look for one, two, or three trend bars that form a big break out and look to enter for any reason, if the context is good.
Trades in this system are usually swing trades in a trend. Only context and signal bars change the "Always In" direction, but traders might take profits at 2x-4x risk, Measured Moves, exhaustion, and other Support or Resistance levels.
Traders hold or re-enter while the trend is forming Major Higher Lows in a Bull trend or Major Lower Highs in a Bear Trend. And, after a trend has gone on for 20 bars, they might look to exit and wait for another break out, constantly looking for signs of strength or weakness in momentum.
Traders also look for price bars to form a Major Trend Reversal pattern and might stand aside to see how it breaks out.
Success is in the details. I think generally you have some good principles in the system you are outlining. But what do you mean by "trend bars", "big breakout", and "good context"? Does a good trend bar need to have a certain size body or no tail whatsoever? How far above/below the previous high/low does a bar need to be to be consider a big breakout? How do you define a good context - after a DT/DB or WB/WT?
My suggestion would be to apply your system to a couple of days over the past week and evaluate how successful it was. Then, in simulation mode, apply it in real time and evaluate the results. How do the two tests compare?
