May I suggest that we allow Tymen to complete a section and then discuss it, having all the relevant posts to refer to can only benefit understanding and make for easier reading of the thread.
Hmmmmm.
Who said anything about trades?
Have you actually read the thread?
I am just trying to establish a quality definition of a trend.
Trading the trend will become a matter of this thread later on.
Please give this thread a chance to develop - it is only 2 days old.
But to answer your hyper critical pointā¦
You would not go short.
You would simply close the trade.
ā¦you would [B]go short [/B]as that bearish candle closes with your [B]SL above the most recent swing high[/B], and again, its a[B] losing trade[/B]
I do not understand what you are talking about here (not that it is relevant), but again, no shorting, just closing a trade.
You are heading in the right direction [B]soul786 [/B]!!
Ok, so you close the trade, and then watch as it swings back around in the opposite direction. For instance, if you decided to close out a long trade because its broken the trend line, you would close it and then watch if come back around and go in your favour. āLet your winners run and cut your losers short,ā youāre cutting off your winners.
And, personally, if I close a (Long for example) trade out, it often means that I am effectively saying that I predict that the price will carry on falling. You might sometimes close it out as the price has lost any momentum and is just ranging but most of the time, closing a trade is just like taking the opposite trade
Yes, I have been reading this thread, as did I read both of your candlestick threads, just playing devilās advocate if you will
If you have a trendline drawn into place then by waiting for the close of every candle you can easily see if the close breaks the trendline.
You can then act on the open of the next candle.
I will have much more to say about this further on - remember I mentioned the wiggly wobbly trendline!!
Thatās what I was going to post before I found you had beaten me to it.
Yes, I am very well aware of this and I will have much more to say about this as we go along.
But as I said this thread is only 2 days old and you must let it grow (like [B]kockneerebel [/B]said) and [U]not jump to conclusions[/U]!!
Thank you for coming on my thread fellow Honorary FX Member!!
OK, it is now 2.00 am in the morning here and I am exhausted. :eek:
So please continue to post and I will answer all the matters raised tomorrow.
Slacker
Have a good nights sleep before coming back to the onslaught of questions
Oh, Iām very curious to learn what the wiggly wobbly trendline might be.
Iām thinking perhaps itās a moving average?
wiggly wobbly
I think I had one of those when I was around the age of three. Iāll avoid the more distasteful jokes.
thats what i was thinking as well, ive used multiple MAs for variable S/R before so maybe thats what he means. or maybe he just gets a box of crayons and starts drawing on his charts?
Oh my :eek::eek::eek:
Iām going to make a prediction for the future, and weāll see how it goes:
Moving averages work as trendlines sometimes, but they arenāt very consistent - being that theyāre averages, they like to trend towards the middle, which donāt make them the #1 choice for a trendline.
However, Tymen has mentioned that he did some programming last year, and that heād be posting a fair amount of programming in this thread. Iām thinking that he may have made an indicator that makes a moving average of the highs and lows of a pair, which would solve the ātendency to hang around the middleā problem with regular moving averages.
If so: I canāt wait to get my hands on it. If not then Iāll be even more anxious to see where he ends up.
Does this feel like grade school to you? How about uploading a PDF of the entire ālessonā so we can read and study instead of dragging this out into a big production?
i think he said he will post the PDF when hes done. besides this allows you to read a section and absorb it. hes the teacher after all, im sure he knows how people learn the best
Nice lessons, Tyman, thanks a lot. Particularly that parabolic case is of interest, because I use often the SARs for identifying trends. My EAs also show, they are very accurate, if the trend is really established.
As mentioned earlier, I beleive the goal of all this was so that nothing was being spoonfed. Rather, people could think it through with ample guidance.
This is Tymens method and he has his reasons for doing things his way . Please see #7