I have had, what I hope, will be a profitable break through with the Price Driver system. After discussing its failures with folks far wealthier, intelligent and experienced than I --- we have come to the realization that PD is only part of a workable system. The other part is the neo-surf death channel that was demonstrated here for a number of years prior to it losing its effectiveness. However, combined with the Price Drivers to signal volatility rather than direction--- the large losing trades of the last several months would have been large winners. We will be tweaking this new combo named The Price Driver Channel System in real time with the parameters and results recorded here. It does not trade daily, and is not a day trading system although multiple trades may be entered in one day. Best, surf
It does use price breakouts, but the channel levels are not based on patterns or charts used in TA. So it's not TA based. surf PS. Please see the surf report for its basic rules prior to the Price Driver combo.
How will you view a price breakout to know that it has occurred if you are not using charts? Does past price in any way play a role in this new method?
Charts create delusions when used in real time. When a certain price is violated by a certain time frame an entry is triggered-- no need for a chart-- although, charts may be used for illustrative purposes here. Obviously, past price is used as a broad framework of channel system-- as in a stock trading at $30.00, the upper channel line wouldn't be at 10 or 100--- past price has nothing to do with the specific numbers within a range calculated for the channel numbers. surf
What inputs are used then to construct a channel? No need for specific nuances, I understand that's your proprietary work and respect it. But wonder just in general is it some fundamental data related to particular stock or some market action or something else? Always interesting how others trade.
Time frames and past price levels, regardless if you use a chart or not to illustrate this, is still technical analysis. You are using a specific time frame and also using past price within this time frame to determine an entry trigger.