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CliffG

Is this a U-Turn Trade? - From the Trading the Open Webinar by Earl

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I tried out a couple of U-Turn trades earlier, based on what was described by Earl in the recent 'Trading the Open' Webinar.

Both trades failed - and that's ok - it's in sim anyway, but I do wish to understand if they are genuine U-Turn trades as he described. I tried just now to reach out in chat, but he's not online.

Anyone here who paid attention in that webinar confirm if I'm missing something? Or are they good?

Thank You

c.JPG

nvda.JPG

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Generally it looks right to me, but I am not the expert.  You still need to add in trade management rules.

It is a great entry setup which I have in my playbook with my own tweaks.

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Hello CliffG,

I've watched to that Earl's webinar, wich i like a lot, and i´ve started practicing those setups too.

In your charts, what is the PCL? The purple dashed line?

I think in the $C case, i think the EMA´s were not properly ordered for the long side.

In the $NVDA case, althought it doesn´t make a big run, it would work ok if you partial at $198 and eventualy stoped out at BE.

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Here are my first experiments with this setups.

 

- Pullback to stacked EMA´s:

10082021.jpg.29a7c5ae36ee9112e7f232a124227c93.jpg

(went out to early)

 

- U-Turn:

12082021.thumb.jpg.f0e59a107804647da215fd42a03aac3a.jpg

(late entry; partial at around $240,50; stoped out at BE)

 

13082021_2.thumb.jpg.fe71d8df7a16b64ca4685e4c0e86e12c.jpg

(1st try: stoped out; 2nd try: stoped out; didn´t try the 3rd time because i´ve already hit my max daily loss, but it did work a little, at least for $0,30 😁)

 

I will continue to try and improve here.

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Hey guys!  It’s Earl.  

Feel free to email me directly and we can chat (e@earldamron.com).  

I didn’t even realize this thread was here.  I’ll look over these posts and reply very soon.

Thanks

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1 hour ago, Earl Damron said:

Hey guys!  It’s Earl.  

Feel free to email me directly and we can chat (e@earldamron.com).  

I didn’t even realize this thread was here.  I’ll look over these posts and reply very soon.

Thanks

Earl,

Since u offered.....have u ever evaluated the U-Turn setup to the SHORT side ?

Many thks for presentation.

I am sure many questions will be directed at u in this forum.

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2 hours ago, Earl Damron said:

Hey guys!  It’s Earl.  

Feel free to email me directly and we can chat (e@earldamron.com).  

I didn’t even realize this thread was here.  I’ll look over these posts and reply very soon.

Thanks

Thanks Earl, really appreciate some orientation.

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On 8/14/2021 at 9:23 PM, Earl Damron said:

Hey guys!  It’s Earl.  

Feel free to email me directly and we can chat (e@earldamron.com).  

I didn’t even realize this thread was here.  I’ll look over these posts and reply very soon.

Thanks

Thanks Earl,

Really appreciate any feedback and it was an awesome presentation too 🙂

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On 8/14/2021 at 1:30 PM, Alastair said:

Earl,

Since u offered.....have u ever evaluated the U-Turn setup to the SHORT side ?

Many thks for presentation.

I am sure many questions will be directed at u in this forum.

I haven't evaluated this strategy for shorting.  Nothing jumps out at me as an issue, but since I'm long only, I simply haven't done the research.

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On 8/12/2021 at 11:58 AM, CliffG said:

I tried out a couple of U-Turn trades earlier, based on what was described by Earl in the recent 'Trading the Open' Webinar.

Both trades failed - and that's ok - it's in sim anyway, but I do wish to understand if they are genuine U-Turn trades as he described. I tried just now to reach out in chat, but he's not online.

Anyone here who paid attention in that webinar confirm if I'm missing something? Or are they good?

Thank You

c.JPG

nvda.JPG

I generally shy away from price action being a u-turn if it's on its 3rd or 4th change in direction as it breaks PCL.  Keep a watch for cleaner ones that break PCL on their first change in direction very early in the day.

Feel free to email me if you'd like to chat through this further!!

  • Thanks 1

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Hell @Earl Damron, do you post your trades on Twitter ? 

I'd love to analysed them. 

By the way, thank you for your webinar and sharing your amazing learning curve with us 😉

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2 hours ago, tardi44 said:

Hell @Earl Damron, do you post your trades on Twitter ? 

I'd love to analysed them. 

By the way, thank you for your webinar and sharing your amazing learning curve with us 😉

Hello @tardi44!  Thanks for the kind words!  I just gave a go at posting my live trades today on TWTR.  Hopefully I did it right...  🤔

With my LONG-only open moves, and everything on my list gapped down this morning, I wasn't able to do any of them.  Instead, I just caught two small pullbacks on PFE & WMT.

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