BOOMER Trading Method - that WORKS!

[THT]

Hi All,

This one is for Technical Chart based traders - Especially those of you that might be struggling - Trading is not easy, hopefully this method will help you to improve profitability.

This isn't my method, he method below has been around for decades - I've refined the method to suit me - I'd encourage you all to do the same, if not and you trade it "naked" then it's win rate and profitability suffer to the down side - The content shown below is the "Naked" method

I was first alerted to this method at the 2010 Traders Expo in Las Vegas by a well known day trader

This set-up is called a BOOMER - It is  2 CONSECUTIVE INSIDE BARS

They happen very often -  in ALL markets and ALL time-frames

I don't usually give stats and probability away as I've had to test, develop and refine methods all by myself but the average profit of a Boomer is 2R (2 times the RANGE of the Trigger bar) - it won't always return 2R you'll need plans in place to deal with those times

As you can see in the circled area, there's 3 price bars - The TRIGGER bar is the 3rd bar and 2nd Inside Bar in the sequence - My method that I use tells me the most likely direction of the trade (This bit has not been shown or disclosed), but you could of deciphered that for yourself as Bar in the series is a cross bar, so is the next bar and so is the 3rd and trigger bar in the sequence = price indecision at that level and odds on for a decline of some sort

The ENTRY is 1 pip + the spread below the low Trigger Bar

The STOP is 1 pip + the spread above the high of the trigger bar

The TARGET price is 2 times the amount risked

Now look back 12/14 bars and see if you can see another BOOMER set-up!  The reward on this one was more than just 2R because of the narrow range of the trigger bar

I would only trade this method during normal market hours not out of hours where volume and volatility are reduced

I'll let you set and decide on Risk and Trade Management as that's your business

OK - How many of you missed the other BOOMER set-up right at the lows in the chart above?  Spend a week specifically looking for these set-ups and they'll start to pop out to you easily!

Right this one worked BUT it didn't return 2R (2 times amount risked of the range of the trigger bar) - WHY DIDN'T IT WORK????

BECAUSE - that's ALL the market gave us - sometimes you get 1R out them, sometimes a loss of 1R and other times 2R+ depending on how you manage the trade

 

Disclaimer:  Not advice nor recommendation - As a trader you are 100% responsible for your trading methods, decisions, risk and risk management techniques - If you are not 100% confident or competent in any of those areas, it would be highly prudent for you to become an expert in because that will determine your success or failure in this game.

The Information above is just that information for you to build upon I have deliberately left out key information that I use to trade with so that you don't blindly copy - you are highly encouraged to define your own rules, methods and trading practices

No liability for anyone's losses can be held against this post - don't risk money trading/betting

Hope it helps and good luck - managed correctly this can be highly profitable

THT

 

[THT]

This is a continuation of the Boomer - THT Wedger (sort of, but it was within my allowable criteria)

Anyone tells you, you can't use indicators to trade with ignore them, right settings, right indicator and you can beat the market