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Bases – Entry Criteria

QuestionsCategory: QuestionsBases – Entry Criteria
ben cameron asked 2 years ago
Hi Pat - I live in Hong Kong, which means I am not able to be awake for the US session, at best I am able to catch the last hour (the time difference is 12 or 13 hours depending on daylight savings). I only trade bases with volume (and will often overlay Minervini criteria) to keep risk lower - now that i have joined MW this will mean using key list as my primary screener. This means I am setting conditional orders using IBKR, it is usually something like: Price > pivot  Volume > 50 SMA  Time > 12pm market time  Stop loss is below open of previous days candle (that i will then adjust if the trade executes) Sell 20-25% once the price then lifts by same amount as stop (e.g. 5% stop i will sell 20% at 5% lift) The 2 questions I have are: 
  1. Do you see anything obvious missing from my approach?
  2. Would you recommend using a market overlay to my criteria (i have been thinking about adding a criteria where QLD must not be lower than the open on previous candle)
Thanks in advance for your advice and go the Chiefs!! 
1 Answers
Avatar photoOwen Staff answered 2 years ago

Hi Ben,
Pat made this video for you...
https://youtu.be/iLXoHp0aTXs

ben cameron replied 2 years ago

Thank you for taking the time to answer. This has been super helpful.