Small APEX Entry / Stop Loss?

#1

Hi,

Wondering where to place my Stop Loss on a small APEX entry. Here in my Jing we see an entry (dotted line) with an X that formed on the same bar. I do not know of any rule that advise against entering on a small APEX, but I wonder if I am to set my Stop Loss at 5 ticks above the P (as if it were a normal APEX), or 5 ticks above this new same-bar X that formed. In my Jing I set the Stop loss for 5 ticks above the X (blue bar).

2013-10-08_1110 - Doppelrock’s library

Any thoughts would be much appreciated.

Thanks! Rob

#2

small or large does not matter place it 5 ticks above the P if short - place it 5 ticks below the P if long

there is no rule that advises against entering a small apex as a small apex may move 20 or 100 ticks past the X

small apex = < 6 bars between E and X

if small apex the only rule that applies is to trail your stop to breakeven after 6 lower lows (not lower closes) are made after the E bar and don’t do it before then or you will get stopped out to soon (NOTE this rule does not apply to larger APEX’s only smaller APEXs

#3

Thanks for the clarification - my previous understanding has knocked me out several times too early.

Just to be sure though, we should still be placing a stop 5 ticks above/below the X, but only after and X has formed? So for the example above, if the E and the X are on the same bar, I would wait until the next X to place a 5 tick stop loss. Does my question make sense?

I have my rules written that after an X forms we are to start trailing stops at X bars, High Velocity bars, 10 min dev levels. My confusion here I think was placing stop loss above the first X I saw, even if it was on the same bar as E.

Please let me know if I am off here. I think your explanation will fix it, as I’ve been getting stopped out seemingly a bit too much. Makes my impression of the indexes much more choppy than they actually are I think.

Thanks! Rob

#4

The X bar rule applies if there are 6 bars or more between E and X if not then the 6bb 6 bars to breakeven rule applies see video under system elite on 6bb