Intraday Technical

Discussion in 'Technical Analysis' started by saikiranray, Nov 17, 2003.

  1. nkhoi

    nkhoi

    no rush
     
    #21     Nov 18, 2003
  2. Gee I give up : I won't send one by one every sixty seconds :D !

    So here a copy and paste of answer made to those who received it already:

    the system is from pit traders wich is just based on the midpoint that is to say even simpler than complete set of pivots. Nevertheless what counts is not the midpoint by itself but the philosophy or context behind: just buying or selling midpoint at any time shouldn't work in general. So the criteria for it to work is when there is reason to do so, that is to say when it is significant, and it is significant when it is in countertrend.

    So the strategy can be fitted in two lines: buy the midpoint if the upper period was down and to sell the midpoint if the upper period was up (contrarian philosophy).

    I lost the original text because it is so many years already but as far as I remember on weekly/daily the return was about 100% per year by backtesting that period and it was said that it could work on any time framework which you must check yourself as for intraday.

     
    #22     Nov 19, 2003
  3. upper period = higher timeframe?
     
    #23     Nov 19, 2003