Cowards? I don't think so. Anyway, I've been a long term chart investor way before I got into day trading...it's called diversifying income streams. I guess that leaves me with only half a pair?
what about buying the high every day?
- Thread starter 1a2b3cppp
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It is called trend following per mike coval.
The "ACD system" will interest you. There's a very long thread on it, here.
Sadly untrue. The underlying reasoning has some validity, for sure, but as always the devil is in the detail.
Be nice.
Are you able to explain the outcome?Where do you place your stop and profit targets?
How do you define the high? Is it the high after the cash open? for that 24 hour period beginning with the overnight session? The high between some arbitrary time intervals?
What if there was a higher high in the premarket and spot is now down from there after the first 30 minutes?
What if the overall trend is down but you get a spike at cash open?
How do you define a higher high in premarket?
How do you define a spike?
How do you define an up day vs down day?
How do you know the high 30 minutes in isn't the overall high for the day when you buy it?
Not trying to be a d*ick but I already tested something very similar to this
Are you saying buy if price is breaking the previous day's high? Define 'new high'.
What happens when it hits a new high right after you buy? Do you buy again? You could be buying all day long.