You are welcome [B]Xelnar[/B].
Yes, the weather is cooler now, but I will be moving home soon to a cooler climate!!
You are welcome [B]Xelnar[/B].
Yes, the weather is cooler now, but I will be moving home soon to a cooler climate!!
Yes…I suppose you can.
But its hardly the best exit method you can get!!
Originally Posted by [B]paulmccarthy [/B]
quick question tymen…i understand that drawing trend lines to determine your trend bias on the weekly time frame can be subjective at times(of course you want the line to touch as much of the price action as possible) however how many candles on your weekly time frame do you take into account when plotting trend lines?
Your dealbook screen shot of the three timeframes showed 7 candles on the weekly chart if i remember correctly.? thanks again.
A trend line should have a least 3 points of contact.
Of course, the more, the more accurate the trendline is.
You [U]must never use the MMACD[/U] to determine the trend on any timeframe.
The MMACD is a line which is very wiggly wobbly and is good only for divergences.
What settings are we using on the BB?
would you post parametrs of stochastic?
Thanks Tymen
Super guppy is gone.
Also, just paper trading, practice on entries and exits. Was not a real trade.
Thanks
Jack
Lets give this a try now and see what we get…
We will start with a sausage type BB with the stochastic.
We have already looked at this one, a daily of USD/JPY >>>
The stochastic did a very poor job of this one.
I did say, however, that 2 contracts would solve this - exit 1st contract at X1, then set stoploss to break even, then exit 2nd contract at X2.
Nevertheless, we will look at what a higher timeframe will do…the weekly.
The exact period is …
from August 14, 2009 - October 12, 2009 >>>
We now compare…
We note that the crossover of the weekly stochastic is not in the oversold section - this is a worry for a start.
We then see that the exit is at 90.90
Now back to the daily and check >>>
The weekly stochastic exit has been added to the chart.
It is much worse than any other exit!! :eek:
There are many other exit methods that would have done much better than this!!
So…
We enter on the timing chart and maintain and exit on the home chart.
Standard settings - period = 20, dev = 2.0
We use the slow stochastic [B]RenaLa[/B].
When you find the indicator it will give… period = 8, K + D slowing both = 3
Absolutely awesome thread tymen. I have read it from start to finish in the period of a day.
You have another massive fan here.
May I add my thanks for all the time and effort you have put in.
Approximately how much more material can we expect??
Hello, Tymen I want to thank you for showing me how to use the BB.
This thread is really very good, and I discover with pleasure the pleasure of learning from a master.
Again, please:)
First thing I noticed was how efficient the trends are in the clean bubbles. And when the trendline is broken it frequently signifies the start of the bubble contraction.
We should all place bets on how much is left? My money is on page 312 .
Part of me wants to know how the whole thing ends but another part of me likes learning new tricks every day.
Thanks again Tymen
Don’t even KID about that! :eek:
I for one heartily encourage Tymen to move along at a brisk pace. After all, I can’t trade it till we have the PDF done!
Hear! Hear!! I am anxious to start losing …Whoops!..MAKING money with this approach.
thank you Tymen for your explanation and numerous examples.
Ken doubleU
Can someone clarify for me at what point does one start looking at the timing chart to enter the trade?
Yeah I’m confused about this as well. Not sure if we are supposed to wait for the home chart to be trending in conjunction with the trend chart or not.
Heaps!!
We have to finish this trend trading with indicators, then start again without indicators!!
Therefore there will be 2 PDF’s.
I think you may find this material rewarding.
I may, however, add the indicator PDF before we start on the naked trading method so people like [B]Merchant Prince[/B] can get started with trading :).