"I feel pretty, Oh, so pretty, I feel pretty and witty and bright! And I pity Any girl who isn't me tonight. I feel charming, Oh, so charming It's alarming how charming I feel! And so pretty That I hardly can believe I'm real. See the pretty girl in that mirror there: Who can that attractive girl be? Such a pretty face, Such a pretty dress, Such a pretty smile, Such a pretty me! I feel stunning And entrancing, Feel like running and dancing for joy, For I'm loved By a pretty wonderful boy! " Being, as it is, a girl's spring feeling above, are you claiming to be a wonderful boy? But I am not the judge or jury.
Pekelo, I am willing to give you some credit here, but I think that it would really help if you could post these trades as you make them, so we can see if you are seeing the trades ahead of time or if you are using hindsight. I think this is important to take this thread any farther. Thanks
Don't worry about Thunderdog. He wants you to fail because he fears your success, which would only reinforce his own failure.
No one indicator works perfectly or does enough to help you make a living out of trading. As you go on you will see that its only the steps you take to run the winners and cutting out losers early that does the trick. mishwar
Pekelo - What do you use for your stops and exits on the YM trades? From my experience the exit rules are more important than the entry rules in making a method work successfully. Sandy
The formula to calculate Williams' %R n is: <CENTER><TABLE><TBODY><TR align=middle><TD align=middle><B><FONT size=3>=</FONT></B></TD> <TD align=middle><FONT size=8>(</FONT></TD><TD align=middle><B><FONT size=2>Highest High in <EM>n</EM> bars - Last bar's Close <HR width=250> Highest High in <EM>n</EM> bars - Lowest Low in <EM>n</EM> bars</FONT></B></TD> <TD align=middle><FONT size=8>)</FONT></TD> <TD align=middle><B><FONT size=3>*-100%</FONT></B></TD></TR></TBODY></TABLE></CENTER> This is: ~ -0% when Last bar's Close =~ Highest High in n bars ~-100% when Last bar's Close =~ Lowest Low in n bars You can see it immediately just looking at the chart. It definitely won't work in a trending market and / or time frame. YM will work better than NQ, daily (or weekly) will work better than intraday.
Thank you, thank you, thank you. Finally an intelligent question and worthy contribution. You made my night. I used 20 points stop loss, and you are right, the problem with Williams, that it doesn't always give the exit. So for exits I used chartpattern recognition, BB, SMA or sometimes I was just statisfied with the profit. For automatization, I would use first the 20 points stop loss, then as the trade moves into profit, move the stop loss closer. About 2-3 times a day the exit was the opposite signal, but that meant that 4-5 times the trade eventually turned back to the entry point. As for live calls, I might make a chatroom on Monday, if at least 3 people PM me that there is an interest for it. Only for fun, because honestly, I don't give a damn if you guys believe me or not... Sorry, too much info. I really don't want to know....
I'm sorry, and I know I will probably get blasted for this the rest of this thread (considering that I have next to zero posts) but i've never seen so many people have such strong opinions about a rather simple indicator as williams%r. Is it really a matter of personal pride to prove or disprove the validity of this thing? If the argument is has anyone ever made any real money off this? The obvious answer is yes, as I know individuals whom have. But, I would never base any trading strategy off it today as it has no original merit unless someone has their own interpretation of it... but perhaps i'm that far behind and i need serious help.
Don't put yourself down! You invite jerks to kick you. Almost any strategy can be successful when applied to a favorable market and time frame, observing strict money management. Maybe its me, but I can't understand people who don't know what they're doing and are proud of it. What's more ridiculous is that often they have the strongest opinions, and are the most dismissive to others'.