12-12-2006, 02:04 PM
Looking at the Matrix today there are a lot of setups with an asterisk (*) in front of it. For those new to the program I wanted to review this feature.
You will occasionally see the trigger box with an asterisk (*) before the trigger price. The asterisk indicates the early stages of a possible trade.
Remember, a room-size pullback is a function of both a price pullback and a time decay factor. As soon a possible a new trade can be defined setting up and the program shows it even if that trade has not yet had a proper price pullback, the program will show the newly identified setup. It shows up even when it may not be a ready trade because it wants to give the trader as much time as possible to evaluate and track a setup in more detail.
A trigger with an asterisk (*) is a evolving trade. The asterisk (*) strongly suggests that the price can continue to change until that room size gets closer to its end phase or extends into that room size transition zone. When you observe an asterisk (*), it may mean that you have more time to prepare for that trade since the trigger level may not be fixed or an optimal trigger point level cannot be calculated. Under this condition, the trigger level could easily fluctuate. As time progresses and the optimal trigger is calculated, the software will remove the asterisk (*). Once the asterisk (*) is removed, the trigger level should not change.
We typically do not take trades with an asterisk in it, but will monitor it more closely to try to anticipate when and where it might become a more proper trade.
You will occasionally see the trigger box with an asterisk (*) before the trigger price. The asterisk indicates the early stages of a possible trade.
Remember, a room-size pullback is a function of both a price pullback and a time decay factor. As soon a possible a new trade can be defined setting up and the program shows it even if that trade has not yet had a proper price pullback, the program will show the newly identified setup. It shows up even when it may not be a ready trade because it wants to give the trader as much time as possible to evaluate and track a setup in more detail.
A trigger with an asterisk (*) is a evolving trade. The asterisk (*) strongly suggests that the price can continue to change until that room size gets closer to its end phase or extends into that room size transition zone. When you observe an asterisk (*), it may mean that you have more time to prepare for that trade since the trigger level may not be fixed or an optimal trigger point level cannot be calculated. Under this condition, the trigger level could easily fluctuate. As time progresses and the optimal trigger is calculated, the software will remove the asterisk (*). Once the asterisk (*) is removed, the trigger level should not change.
We typically do not take trades with an asterisk in it, but will monitor it more closely to try to anticipate when and where it might become a more proper trade.