Sheiner method

[John Macgregor]

I'm interested in the OHLC method Maurice Sheiner posted on TS in February. (MS has now vanished, and I don't have a TS account - which is why I'm here.)

I'm not an experienced TA trader, so want to stick with the Sheiner basics. (Not interested in additions, extra indicators, etc at this stage.)

The Shiener TS thread outlined some of these basics, but there seem to be some gaps. For example:


• Is there a standard percentage of line penetration required before entering?

• What percentage of the 'white space' range does one try to trade exactly?

• Sheiner said (if long) to place a stoploss below the next line down. What do you do if that line is miles down, and increases your risk too much?

• For the present day's lines, how do you define a high or low? (Does literally every turning point count - or only the more significant ones?)

• Is this system best traded on a 5-minute chart?



Thanks all,

John

[FemmeFX]

"Sheiner said (if long) to place a stoploss below the next line down. What do you do if that line is miles down, and increases your risk too much?"

Hi John,

Not famliar with the OHLC method, but from the way you phrase the question above, if you're already in a trade where the required stop for that strategy to work is beyond your level of risk, then I would suggest that it's a trade you shouldn't have entered in the first place. And if you haven't entered it yet, but it's still beyond what your money management rules allow, then it's a trade that should be passed on.

Would like to know more about the method, though.


Kat

[Ali Son]

MSheiner's posts seems to have changed from the usernername Msheiner to janette, my cursory search online has revealed.

-OS

[Ali Son]

Descriptions of MSheiner on this site and link to TS site.

http://kreslik.com/forums/viewtopic.php ... t=msheiner

-OS