Makosgu. I only use trendlines and channels on daily charts. As I have posted before, my testing proved to my satisfaction that they are useless intraday all by themselves. Maestro says they improve other strategies. That may be, but I believe that it is impossible to reliably test a two part strategy. So I can't post any any intraday examples. Mike.
Do Trendlines work?
- Thread starter duard
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.....Jack. If I may presume to speak for the B-Team (I am the mascot, you know, the idiot who runs around in an animal suit on the sidelines?), we eagerly await detailed explications of your intraday methods. I in particular am keen to see methods so detailed that I can code and test them. Or to understand that they are untestable, which is OK. I have some methods which work which are untestable. If I can recall my prior adventure down the rabbit hole, I will point out the problems I encountered understanding and applying your stuff based on algorithmic ambiguity. Best regards. Mike.
Hi:
I have a minute or so to post. As mentioned in my earlier post, trendlines work. I have not based my own system on them, but on those close relatives, channels and EMAs. For over ten years now, I have made my living leaning on channel lines, pivots, and using EMAs to point me in the right direction. In other posts I have provided numerous charts showing the results. Frankly I am not interested in convincing anyone, rather I hope that perhaps a few sharp folks will take the time to look at the previous posts and get a clue. Part of learning to trade is to put things in perspective. You need a reasonably valid premise to base your trades on, then you need skills that include but are not limited to emotional control, patience, judgement, perseverence. Also you need the basic logistics of a frontend to get you in and out of the market and a consistent connection to your broker. As far as I can see the rest is a matter of practice. I trade intraday using both 3 min bars (for the open and close), 5 min bars and 15 min as a general reference (not to make trade decisions). Maestro was correct (or I should say "I agree") that trendlines do not seem to work with >5 min bars.
bye
Lefty
I have a minute or so to post. As mentioned in my earlier post, trendlines work. I have not based my own system on them, but on those close relatives, channels and EMAs. For over ten years now, I have made my living leaning on channel lines, pivots, and using EMAs to point me in the right direction. In other posts I have provided numerous charts showing the results. Frankly I am not interested in convincing anyone, rather I hope that perhaps a few sharp folks will take the time to look at the previous posts and get a clue. Part of learning to trade is to put things in perspective. You need a reasonably valid premise to base your trades on, then you need skills that include but are not limited to emotional control, patience, judgement, perseverence. Also you need the basic logistics of a frontend to get you in and out of the market and a consistent connection to your broker. As far as I can see the rest is a matter of practice. I trade intraday using both 3 min bars (for the open and close), 5 min bars and 15 min as a general reference (not to make trade decisions). Maestro was correct (or I should say "I agree") that trendlines do not seem to work with >5 min bars.
bye
Lefty
Of course Trendlines work, it only depends on the way you use them. Some prefer a rabbit's foot though as it offers fewer possibilities to err.
nononsense
PS, like you, I don't use them either.
