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Anyone use my method?
- Thread starter no_pm_please
- Start date
I think some of you are getting bogged down in details that are not that important. You can use any oscillator and default values. You might not get exactly the same trades, but over time the results should be similar. The important thing is exactly what No PM has emphasized, identify a clear intraday trend that is losing momentum, enter when it gives a clear indication of reversing and have strict management rules. I have never traded his exact method, but divergence is a classic strategy. For me, I want to avoid situations where the price peaks are widely separated or have a lot of garbage between them. I would also want to avoid price congestion, as the oscillator will start losing strength but price could be making a flag, which is one of the strongest trend patterns. One problem with divergences is a strong trend will often produce more than two divergences. I like to pull the stop up to break even after a few ticks in my favor.
Another key point to his success I believe is his discipline in taking only clear set ups. He trades less than once a day on average.
Another key point to his success I believe is his discipline in taking only clear set ups. He trades less than once a day on average.
Quote from AAAintheBeltway:
I think some of you are getting bogged down in details that are not that important. You can use any oscillator and default values. You might not get exactly the same trades, but over time the results should be similar. The important thing is exactly what No PM has emphasized, identify a clear intraday trend that is losing momentum, enter when it gives a clear indication of reversing and have strict management rules. I have never traded his exact method, but divergence is a classic strategy. For me, I want to avoid situations where the price peaks are widely separated or have a lot of garbage between them. I would also want to avoid price congestion, as the oscillator will start losing strength but price could be making a flag, which is one of the strongest trend patterns. One problem with divergences is a strong trend will often produce more than two divergences. I like to pull the stop up to break even after a few ticks in my favor.
Another key point to his success I believe is his discipline in taking only clear set ups. He trades less than once a day on average.
All good points. Price penetrating the Keltner channels and adx above 30 can indicate a fairly strong trend so a lot of caution is needed with this strategy.