I don't know if I am drifting away from Survivor's logic here but I think that these bars are what in candlestick theory are called engulfing bars.
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DislikedMaybe it's just me but I couldn't make it work when these bars are later in the new trend. I found that usually what tricks me to be a breakout like that in your chart, very often is just an exhaustion. I think the best plays are if these bars are taken immediately after the opposite trend with support or resistance far away. Like a reversal bar. Look at this post to see what I mean.
I don't know if I am drifting away from Survivor's logic here but I think that these...Ignored
DislikedSurvivor, belated congrats on your first thread! I've been focusing on learning lately and missed that you started this nearly a month ago. I've read all of you previous posts when you were with Dance/Choros, and you are good at keeping everything simple, AND being successful!
Thanks for sharing the fruits of your hard work! I'll be along for the ride!Ignored
DislikedAfter programming the software to analyze the excellent Dance/Choros system setups and discovering many interesting things in the process, I think that algorithmic trading is what I -personally- should focus on. And this system is something that I will be soon testing.
I feel confident that I can program everything that a succesful trader can explain with words, but it has been my experience that many times this is not enough to replicate the results of successful traders. Often, successful traders have developed a "feeling" that they may not...Ignored
DislikedI think it may show a little bit more complex as it is based almost entirely on Survivors discretion on judging a momentum bar and his knowledge and feeling of the market, it will surely be another educational journey...Ignored
DislikedDo you think you can code an indicator for me, i don't want to clogg this great thread up with talks of that, can you pm me or send me an email from my profile and I will send you the parameters, its a simple indicator I need created and is related to this trading method.Ignored
DislikedHere is my trading "system"! Simple and effective. Hope you like it.
No Specific exit strategy. I exit my half lot at 1*Sl so that my trade becomes free. Then i let other half run with fast trailing of tight stop. I generally let PA guide me. if i see my side winning, i stay in longer. I also take profits when i reach may daily target of 40 pips. So i exit on variety of reasons.
No indicators. I used them and didnt like them. I find more indicators less reliable. It all becomes confusing hell.Ignored
DislikedCould you please explain why you didn't sell at 1 & 2 and why you didn't buy at 3 ?Ignored
DislikedVery Interesting Thread Survivor. The more I read, the more the fog clears. :-)
I did a bit of analysis on a M1 chart from this afternoon. Please critique my understanding of your method.Ignored
QuoteDislikedOriginally Posted by Tpc23
It's a heck of a lot harder to read the charts real-time than with hindsight !!
Was able to eke out 30 pips this morning.
This is a fun way to do things. Thanks for the dissertation.
T
DislikedIt's a heck of a lot harder to read the charts real-time than with hindsight !!
Was able to eke out 30 pips this morning.
This is a fun way to do things. Thanks for the dissertation.
TIgnored