Hi Tom, I've read your books and enjoyed learning about your approach. Thanks!
Forgive me if you've addressed this elsewhere, but you mention entering trending markets using either the 21-day Keltner, BB, or Donchian indicators. Is your exit trigger ONLY the 50 day BB, or do you pair that with a 50-day Keltner and/or Donchian for the same "first of three to hit" approach?
Second, it sounds like you use hard stops. I assume you set those right at the lower band? I've done some backtesting and found a few instances where the daily candle pierces the 50-day BB but closes above and then resumes the upward trend...do you think soft stops are feasible for someone who is able to check prices at market close each day to make the in/out decision based on the daily close, or do you prefer the protection of a hard stop against limit down days, etc.?
Hi Tom, I've read your books and enjoyed learning about your approach. Thanks!
Forgive me if you've addressed this elsewhere, but you mention entering trending markets using either the 21-day Keltner, BB, or Donchian indicators. Is your exit trigger ONLY the 50 day BB, or do you pair that with a 50-day Keltner and/or Donchian for the same "first of three to hit" approach?
Second, it sounds like you use hard stops. I assume you set those right at the lower band? I've done some backtesting and found a few instances where the daily candle pierces the 50-day BB but closes above and then resumes the upward trend...do you think soft stops are feasible for someone who is able to check prices at market close each day to make the in/out decision based on the daily close, or do you prefer the protection of a hard stop against limit down days, etc.?