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Worden Discussion Forum » General Discussions » Stock and Market Talk » Daryl Guppy's Countback Line

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rwwoods
Posted : Friday, October 27, 2006 8:50:09 PM
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Joined: 9/14/2006
Posts: 11
 Is anyone using Daryl Guppy's Countback Line as a stop-loss method? If so, are you using the closing or low values, and how many countbacks are you using? Your evaluation of this stop-loss method would be appreciated.

Thanks, Richard
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diceman
Posted : Sunday, October 29, 2006 7:28:53 AM
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Joined: 1/28/2005
Posts: 6,049
 I have not used this method. From what I've seen. It looks
like a minlow for 3 bars. (for a long stop)

That would be a relatively fast stop. (frequent trading)

As long as your timeframe is short I think it would
be OK.

As a general rule of thumb I've had better results using the
low as a stop reference.(on other systems)

I would experiment starting with a lookback of 3 and on
very profitable positions (when your trade is more correct)
expanding the range. (3 to 4 then to 5 and so on)
I've found it best to let your winners run.

Thanks
diceman
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