Search results

But that does not account for S&R. I think that a markets ability to move up above a previous high or down below a previous low may be what is most important.

If you notice in this example we have a general downtrend with a lot of short term counter trend rallies. I think the issue in this example is that the metric used to exit is too short term. I would be interested to find out how the following rules would test out. Enter long when the market...

That makes sense. Thank you RT.

As I have said in previous threads I am programming illiterate and so I'm not able on my own to test automated systems. But the thought occurred to me that the support and resistance system described here http://www.seykota.com/tribe/TSP/SR/index.htm might also work well as a day trading...

Wouldn't he have to remove the ankle bracelet first?

He started off as a daytrader in the bucket shops and became more long term later in life.

I agree with the OP. I good exercise after hours to build price action reading skills is to rewind a chart back to a day that you do not remember and then fast forward through the day, stop where you want to place a trade, write down the entry price and stop and then continue fast forward and...

If you auotrade a C2 system I would suggest having your own daily loss limit and stop. A lot of system that look good at first end up blowing up. Also most are not systems but discretionary traders.

My father is currently invested in Overnight in the S&P and Going for a Million, both run by Craig Bender who seems to be a very good trader.

Ed Seykota is one of the great trend followers. On his website he describes 2 simple trend following methods. http://www.seykota.com/tribe/TSP/index.htm

It is much better to have a tight stop and get stoped out unnecessarily than to have no stop and wipe out your account. Sure you can have stops that are too tight, but that is better than too loose. Failure to respect risk is why most traders fail. If Coolweb is good at managing risk is way...

http://www.seykota.com/tribe/tsp/trends/index.htm

It looks to me like X, along with the indicies have entered congestion from a downtrend and usually prices exit congestion in the same direction that they entered, which in this case would be down. So I think that it is more likely that X will see 30 before 40. But of cource take what I say as...

Test the following: Enter long when MACD line crosses above zero line, exit when MACD line crosses below signal line. Enter short when the MACD line crooses below the zero line, exit when the MACD line crosses above the signal line.

And therin lies the value of TA in my opinion. Large price moves don't happen overnight. It's a process and one that can be followed a la "trend following"

The top of the market was on Oct 11, 2007. But the nasty drop did not really begin until Sep 22, 2008. Any trend following methodology would have had you out of the market or short the market by that time.

I expect a strong rally to get under way within the next 30 min based on bullish divergence and the characteristics of the price action.

Haha I love Larry Hite.

Too lazy to learn trading on his own and thinks that he is not capable of it. His attitude is: "I'm a lousy trader with no skill, but there are skilled traders out there so why not use their skill" My response is "No one has made $ in trading by blindly following other people's signals."

Sad to say I was right. He went long near todays high and is still holding. My dad was able to manually exit the trade. It does not matter how good you are, if you fail to manage risk in this business you will not survive.