Dooku Reversal

March 21, 2006 by Trader Rich

Sticking with my trading system to start the week off has paid off. Dooku generated some realized profits this morning when I closed out 2 positions +$1000. I have since reversed 1 position that Dooku generated after the exit.

Trading with a plan is so much easier than trading without a plan. Where the emotion was so evident before, now it just isn’t as much of a factor. I still don’t know if this trading system is the answer to making a consistent profit but I like the feeling that having a plan gives me.

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Filed Under: Investing and Trading
Tagged: exit, Forex Trading, march 2006, plan, position, profit, profits, system, trading
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Comments

3 Responses to “Dooku Reversal”

Brent on March 21st, 2006 3:16 pm

Have you looked at chart patterns as a system? For example, butterfly, gartley, and AB=CD patterns? I scalp the one minute charts but I’m looking for a system that I can utilize on the daily or 4hr charts. So far my research and backtesting have found them very reliable. I was wondering if you have any insight.

Thanks,
Brent
rich on March 21st, 2006 3:33 pm

Brent, I have not looked at chart patterns as a system. Do you have any resources you could point me to to check out?
Brent on March 21st, 2006 4:11 pm

Sure…

Some of these are forums so you might have to subscribe to get the links to work.

According to my research the gartley and butterly patterns have an 80% success rate.

http://www.moneytec.com/forums/showthread.php?t=17228

http://www.forex-tsd.com/suggestions-trading-systems/1093-harmonic-trading-12.html

http://www.harmonictrader.com/

http://www.forex-tsd.com/attachments/metatrader-4/3170-price-patterns-gartley-butterfly-bat-all11.jpg?d=1138394471

http://www.forex-tsd.com/metatrader-4/885-price-patterns-gartley-butterfly-bat-2.html