I agree with Golfer`s opinion on CTs - by using this system you will make higher percentage of successful trades going WITH the trend than going against it.
We are using fast MAs (I consider anything more than 75 to be a slow MA on this timeframe ).
There is another system by Jon Levine that uses 21EMA, 75SMA and 200SMA to make trades (no MACD).
Absolutely same theory with power candles and signals.
He also does use some candle formations to make CT trades.
By the way this Phillip`s system we are using now is also reminds me of a Floor Trader`s method - yes, real floor traders do use this one when trend in place!
DISCLAIMER : I have no intention to confuse new traders by mentioning this system of Jon but thought it would be nice to share some of the trades he makes online. I will upload a zip file as well. Since I did study with him and actually paid some money for the training I have rights to share the charts (not the documents).
We are using fast MAs (I consider anything more than 75 to be a slow MA on this timeframe ).
There is another system by Jon Levine that uses 21EMA, 75SMA and 200SMA to make trades (no MACD).
Absolutely same theory with power candles and signals.
He also does use some candle formations to make CT trades.
By the way this Phillip`s system we are using now is also reminds me of a Floor Trader`s method - yes, real floor traders do use this one when trend in place!
DISCLAIMER : I have no intention to confuse new traders by mentioning this system of Jon but thought it would be nice to share some of the trades he makes online. I will upload a zip file as well. Since I did study with him and actually paid some money for the training I have rights to share the charts (not the documents).
DislikedI do agree and I do take some CT trades as well - espescially on the top/bottom of a move with some sort of signal present . But Phillip previously asked not to post CT trades here because it is not part of this system. And I do agree because it will just confuse the newbies.
I remember how confused I was with some of the members' posts and trades. Later I do remember some of the members also asking me about my trades and reasons why I took it. For me it came naturally to some trades, then I discover it is not always that clear for other members....Ignored