Replies to post #114 on J.M.HURST

[JLS]

Trend1,

I have no idea what the point is that you are trying to make and how it relates to my previous response.

My last response started with making a trifle of your little H&S pattern. (Sorry if that offended you -- that was not my intention.) Then I followed with a suggestion that you live up to your alias as a Trend trader (and not a pattern trader) and that you would likely make more money if you traded the bounces within the green channel.

And Hey! Trading the bounce within the green channel would have worked much better than a H&S trade because you wouldn't have to wait for confirmation and breakout of the H&S.

So, what is your strategy for taking profits on a H&S pattern? The strategy for pattern trades is usually to have your goal in mind beforehand (as determined by the measure rule) then sell when you hit the goal (or earlier based on stop-loss strategy). I know what the strategy is for a trend trade -- stay with the trend until it changes (which usually yields greater profits than pattern trades because profits are not taken prematurely simply because a predetermined goal was met).