Jahan ,,,, can you please also answer this ... I am repeating for easy reference
i think ur facing problems with my english....iam week in english...thats why ur not able to understand.....
what iam saying .... he is very specific about entries...he will give two levels for long and short in one of his method...if an entity goes above buylevel he will go long and simiarly when its goes below sell level he will go short....upto this is entry rules....
and...when come to exits he will give multiple target levels..t1=.618X,t2=.786x, t3=1x,t4=1.618x for both buy side and sell side.nearly there are 8 target points 4 above the buylevel and 4 below the sell level.....
now u tell me where u wanna exit if long or short is occured....what happens in real world of trading is ....lets say u decided to exit at t2...ok market reached at t2 and u booked profits ..but after exit the market has gone upto t3 or t4....u have seen this and come to conclusion that in next trade u wait upto t4..then in that particular trade market has come upto t1 and taken a uturn u hit ur stoploss.this happens.....ur always in confusuin regarding ur exit
ok lets say...ur a wise trader and ask him regarding this confusion...he simply tell to u to use trailing stoploss if u have any confusion.
u think that this trailing stoploss will solve ur problem....absolutely not u check the trailing stop with various parameters and still ur in confusion..which parameter to use for trailing the stoploss..it is his duty...to tell about a specific exit point...which has given Max.returns (that rule never changed like his entry)...this what is lacking in his methods.
and when come to Riskmanagement i doubt .....he didn't no much about it.as i didn't read or listen this riskmanagement when he is explaining....in fact there is a small paragraph in his pdf "Essentials of trading"..in that he tell about 2% risk (5-6 line paragraph).
hope this clarify ur confusion..i can't write better english than this.....
regards,