The Way to Trade
Financial Times/Prentice Hall | 2000-09 | ISBN: 0273637541 | 282 pages | PDF | 1,9 MB
The author does not trust any trading method which he didn't develop himself. Traditional trading systems are under heavy criticism here:
Elliot's theory is called "garbage". Indicators are called "illusory" and "meaningless".
There is almost no discussion of how indicators work (i.e. Moving averages, MACD, Stochastics, etc.)
Rather, John Piper has developed methods based on "spiky action". That is, if the price unexpectedly jumps up,
you can expect it to go down quiclky, and you can profit from this. Or, vice-versa: if the price falls sharply, you can expect it to go up thereafter, and you can profit from this.
The format of the book is similar to Van Tharp's "Trade your way to financial freedom", but John's book is a little easier to follow. Van Tharp's main idea repeats here: "It is not the entry that counts, but rather the exit."
Alexander Elder's idea of not risking more that 2% of your capital per trade, is also mentioned here.
http://rapidshare.com/files/246575163/T ... e.pdf.html
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I try to optimize ZZ Semofor to find out the daily and weekly high/lows
As Semafor default period is 5-13-34 those are the fibonacci numbers.
I am using 5 min period. That means that daily bar has 288 ,5 min bars.
Fibonnaci 34 (sema 3), Fibonnaci 89 (sema4) , Fibonnaci 233 (sema 5) inside the daily bars limits. (daily high/lows)
Fibonnaci 610 ( sema 6) ( 2 days high/low) , Fibonnaci 1597 sema (7) (weekly high low)
So for daytrading we can consider sema 3,4,5 is in our daily limits.
But when sema 6,7 appears, this is the most possible reverse point..
I added volume stop and fractal also..
When sema 7 appears with cross + fractal, I guess you dont want to miss it...
Colors
Sema 3-Chartreuse
Sema 4-Aqua
Sema 5- Blue
Sema 6-Magenta
Sema 7 -Peru
Regards...
Atteched Tpl...
As Semafor default period is 5-13-34 those are the fibonacci numbers.
I am using 5 min period. That means that daily bar has 288 ,5 min bars.
Fibonnaci 34 (sema 3), Fibonnaci 89 (sema4) , Fibonnaci 233 (sema 5) inside the daily bars limits. (daily high/lows)
Fibonnaci 610 ( sema 6) ( 2 days high/low) , Fibonnaci 1597 sema (7) (weekly high low)
So for daytrading we can consider sema 3,4,5 is in our daily limits.
But when sema 6,7 appears, this is the most possible reverse point..
I added volume stop and fractal also..
When sema 7 appears with cross + fractal, I guess you dont want to miss it...
Colors
Sema 3-Chartreuse
Sema 4-Aqua
Sema 5- Blue
Sema 6-Magenta
Sema 7 -Peru
Regards...
Atteched Tpl...
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- teoforexroom.zip
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- TheRumpledOne
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- TheRumpledOne
- rank: 10000+ posts
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Why can't we see what price is doing?
Price is either moving up, moving down or not moving at all.
What is wrong with our eyes that we can't see what price is doing?
It's so simple, price is either moving or standing still.
Why do we need colors to know which way price is moving?
Does adding a line really make it easier to see what price is doing?
Well, if adding one line makes it easier then adding more lines should make it even easier, right?
Why can't our eyes see the "trend"?
Maybe adding another chart will help us see...
Naturally, if adding another chart makes it easier, we should add more.
If only someone would tell us the "magic" numbers to use...
Price either climbs up or down a "stair".
You mean to tell me I can think of price going up and down stairs?
IT CAN'T BE THAT SIMPLE!!
Price is either moving up, moving down or not moving at all.
What is wrong with our eyes that we can't see what price is doing?
It's so simple, price is either moving or standing still.
Why do we need colors to know which way price is moving?
Does adding a line really make it easier to see what price is doing?
Well, if adding one line makes it easier then adding more lines should make it even easier, right?
Why can't our eyes see the "trend"?
Maybe adding another chart will help us see...
Naturally, if adding another chart makes it easier, we should add more.
If only someone would tell us the "magic" numbers to use...
Price either climbs up or down a "stair".
You mean to tell me I can think of price going up and down stairs?
IT CAN'T BE THAT SIMPLE!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.
Please do NOT PM me with trading or coding questions, post them in a thread.
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Thank you for your support.
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- TheRumpledOne
- rank: 10000+ posts
- Posts: 15561
- Joined: Sun May 14, 2006 9:31 pm
- Reputation: 3035
- Location: Oregon
- Real name: Avery T. Horton, Jr.
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- Contact:
Bushfella wrote:Teoman, thank you for posting your file. (teoforexroom.zip)W hat program do i use to unzip it (technophile!) please. I usually use winram but isn't working with this. Thanks, Bushfella
attached again as .tpl
Best regards..
how it looks is at below ( Iadded fibsr.cci..ema,and VSA?_RSX_BARS_TRO_MODIFIED_VERSION.mq4)
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- teoforexroom.tpl
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