TRO You generally state there is no trend yet in your video you speak of trend? How you explain these price turns in the video has me confused: If all you are doing is waiting for the current bar to be a different colour from the previous bar and hitting a line, how is this any different to your 'horizontal line' strategy? Or the 'famous' 'buzzard reversal'. There's no difference whatsoever as far as I can see and even on the chart you post I see whipsaw after whipsaw as price hits the line, then falls again thus changing color. You mention price testing the low first the going up and hitting the line. Yeah, well we can't see what really happened inside that H1 candle you love to post can we?? How many times did it really bounce around within the hour and take out your famous 10 pip (including spread) stop? Now if what you mean is the 'price turn' candle closes a different color to the previous candle and you then enter on the following candle..that's just another variation of your 'rat' entry and I still fail to see why an indicator is required to see that an arbitrary price bar closed a different color to the previous arbitrary price bar. You also say in the video the reason for entering the market has no bearing on outcome. I agree to some extent. In which case your entry method and indicator are, ergo, useless. So you have a 10 pip stop, a useless entry method and no defined exit (which is what you state makes you money). Here comes the 'exit playbook'
Tango/Hosea... You should have given it a rest for a few days before coining a new nick. You owe me $10MM.
How to understand and use frequency distribution in your trading. http://youtu.be/0YlTX1W3Y9k <iframe width="420" height="315" src="http://www.youtube.com/embed/0YlTX1W3Y9k" frameborder="0" allowfullscreen></iframe> ============================================= PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.
Greetings, FX operators. First time seeing this thread. Thanks, rumpledone for sharing your method and videos. You have quite a personality. You read my mind. I'm firing up easylanguage tonight and seeing how far I get. I'm thinking 3-8 lines of code is all it's gonna take. *edit - already got the core entry coded up and so far it looks very good on AAPL 15 minute chart. I'm using a 100 share position size, $200 stop loss and $200 floor before applying 10% trailing stop. :eek:
PF 2.04, but I didn't add the comm's / slippage. Typically this has a minor effect. Great stuff! Kudos to the OP for sharing something SIMPLE that works.
Why not use a non trending up stock like MSFT and see if your code works. Its easy in hindsight to recognize a bull market and design a strategy that works for it, but then in a bear market, all these strategies blow up.
I was just thinking the same thing. Buy 'n hold would have generated about $8k during the same time period, but with larger dd's More to come......
Yikes, 60% win rate, PF 2.4+ Granted, I actually had to spend a couple minutes fishing for exit parameters on this one. MSFT likes 'em tight. :eek:
PRICE TURN... It should be obvious to the reader that once price turns, there is a statistically higher chance that price will continue in the same direction.