Parabolic SAR - that's all!

[mule]

Originally Posted by dpaterso

Why??? It's not fair that I'm the only South African to have lost money!!! Open a live account!!! Now!!!

Hi there! For my first post: I'm a South African too, (living in Amsterdam though) and I've lost lots
Not with a live account though, just opened a trial account a week ago and am still a complete and utter n00b.

This thread rocks

[dpaterso]

If you are living in Amsterdam then YOU HAD BETTER MAKE SURE that you go and see After Forever and Within Temptation (for me)!!!

Welcome to the thread.

If I can be of any assistance then let me know.

A word of advice: before you get TOO excited about Parabolic SAR then 'mosey on over' to Trading Systems in 'New Concepts In Technical Trading Systems' by J. Welles Wilder if you want to make money.

Parabolic SAR will not, I don't think, be given too much attention on the new thread (even although it's the first chapter in Wilder's book). Parabolic SAR certainly has gotten it's 'fair share' of attention on this thread I can tell you!!!

[mule]

Originally Posted by dpaterso

If you are living in Amsterdam then YOU HAD BETTER MAKE SURE that you go and see After Forever and Within Temptation (for me)!!!

If you're talking about the July 22 concert, I think I'll probably be in S.A. at that time

Originally Posted by dpaterso

Welcome to the thread.

If I can be of any assistance then let me know.

Thanks! I'll definitely try and pick your brain. I just got bitten by the forex bug a little over a week ago, registered a demo account before even finding babypips or doing any research, then proceeded to net $32000 in two days and thought I was going to be disgustingly rich soon. Thankfully it wasn't a live account, because of course I lost far more than that in less than a day

Originally Posted by dpaterso

A word of advice: before you get TOO excited about Parabolic SAR then 'mosey on over' to Trading Systems in 'New Concepts In Technical Trading Systems' by J. Welles Wilder if you want to make money.

Parabolic SAR will not, I don't think, be given too much attention on the new thread (even although it's the first chapter in Wilder's book). Parabolic SAR certainly has gotten it's 'fair share' of attention on this thread I can tell you!!!

Thanks again! I'll study diligently

[daxm]

Originally Posted by cjd

dosen`t the parabolic sar repaint itself ? I noticed if I disconnect from my broker and reconnect the dots are different....once were over but now under price

They are calculated (mathematically) from the previous stop and reverse point to "now". I can only imagine two cases where they would be on the other side of the chart.

1. You've refreshed your screen right when your broker's closing day occurred AND right when the calculation of the SAR created a Stop and Reverse instance (hence the new dot is "going the other way")

2. You've relogged in and set your timeframe to a different scale. Therefore you are seeing a longer/shorter trend that wasn't seen in your first chart.

[dpaterso]

Hello,

daxm:

Thanks for 'fielding' the question BUT I have to say that I have seen it too i.e. if Parabolic SAR is penetrated at ANY time during the day (period???) and you have the 'facility' to 'refresh' your charts (and if you don't then the 'refresh' would be done when you logout or disconnect and then login and connect again) it CAN 'change places' or 'jump' from one side to the other depending on you charting package or broker. That's why the 'classic' way would be to wait until the daily bar closes and base any trading decisions on Parabolic SAR AT THAT MOMENT. The problem is, of course, that this requires discipline for the simple reason that an hour later Parabolic SAR may get penetrated AGAIN in the opposite direction and it takes a lot to 'stick to the indicator' when you just know that you have another 23 hours of 'nail biting' to go before you're able to act.

[daxm]

Originally Posted by dpaterso

Hello,

daxm:

Thanks for 'fielding' the question BUT I have to say that I have seen it too i.e. if Parabolic SAR is penetrated at ANY time during the day (period???) and you have the 'facility' to 'refresh' your charts (and if you don't then the 'refresh' would be done when you logout or disconnect and then login and connect again) it CAN 'change places' or 'jump' from one side to the other depending on you charting package or broker. That's why the 'classic' way would be to wait until the daily bar closes and base any trading decisions on Parabolic SAR AT THAT MOMENT. The problem is, of course, that this requires discipline for the simple reason that an hour later Parabolic SAR may get penetrated AGAIN in the opposite direction and it takes a lot to 'stick to the indicator' when you just know that you have another 23 hours of 'nail biting' to go before you're able to act.

Thats a good point. My software (GFT) doesn't paint a PSAR until the closing price.

[dpaterso]

I'll be honest with you: that's the way it is SUPPOSED to be. Even MT4 'suffers' from this problem (as a matter of fact with MT4 you don't EVEN have to 'refresh' it just 'paints' all by itself)!!!

[mule]

Originally Posted by dpaterso

Actually - it made me think of a cartoon / drawing that I saw years ago:

It was a picture of a frog about to be eaten by a Pelican. The frog is already in the Pelican's mouth but his arms are around the throat of the Pelican and the caption is 'Never Give Up'! If anybody else has seen this drawing please let me know and if it is on the Internet give me the link - it would make an ideal avatar for me.

Here ya go:

[dpaterso]

That's the one!!!

Thanks.

Edit:

(Actually: I appreciate the thought but didn't want to appear as ungrateful for your trouble. Someone found it last year and I have it 'pinned up' near me so that I see it everyday, but thanks anyway, nice thought).

[mule]

Originally Posted by dpaterso

That's the one!!!

Thanks.

Wow, you're fast. Do you live on babypips.com?