Sheiner method
Posted: Thu Oct 05, 2006 5:30 pm
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
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