Best Thread Live Cable Trading
eatontrade
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mark twain uk said:
I have now reversed and gone short - this is also a powerful Long signal
Ripcord said:
I am telling you that if you took the Big Baruch signal this morning, you would now have around 150 pips in profit. Why do I tell it? Because it's more than Big Ben and Hans123, and we have been following those systems for some time.
trendie
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Baruch said:
not strictly true, Baruch.
a: hans123 has definite rules for entry and exit, so back-testing is quantifiable.
b: Big Ben has a definite entry, but the exit criteria are vague, and upto each trader, and thus not quantifiable. ( some may wish to trail the trade, some may choose to take a daily target )
c: Big Baruch has a vaguely defineable entry, which cannot be back-tested, unless more exacting rules are invoked.
Big Baruch, as far as I am aware, has no defintie exit criteria, and thus cannot be back-tested.
In retrospect, 150 pips were on the cards, but without some defining exit rules, it is conjecture whether they would have been won, or whether a Big Baruch trader would have bailed out earlier.
trendie said:
a. Right.
b. Right.
c. Not right. Big Baruch is just Big Ben with a changed time rule (starts one hour earlier) , and a new rule: Confirmation from euro (to protect us against stop hunting in cable).
PS. Yes, the exit is a problem for both Big Ben and Big Baruch, and I need to think about that problem. But I don't think Hans123 has found the solution. Here you can have a profit of 105 pips, but end up with a b/e. That's a bad solution.
Baruch said:
I am not seeking to pick on you Baruch but you do leave yourself open to it a bit.
So to clarify if the signal is taken and its a heavily trending day and you manage to hang on and identify the very bottom of the trend for the day then 150 pips is yours.
Mate, I dont care about your entries its your masterful exits that I wish to learn, I should be able to multiply my profits many times over (tongue firmly in cheek)!
PS. Or are exits only taken in the theory of hindsight, pehaps thats what ive missed
Ripcord said:
I suppose traders here don't care about how Baruch trades - they care about the Big Baruch method (I hope!). Because they can use Big Baruch, not me. Big Baruch (like Big Ben) gives some rules for entry - not for exit. That's why it makes no sense to talk about exit from Big Baruch, because exit has nothing to do with Big Baruch. But as I have said, I will think and work with this exit problem, and I hope I can make a complete system with exit rules like Hans123 - but only better. But we all know from trading: It's not the entry which matters, it's the exit, so it ain't easy...
trendie
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one for you guys ( and especially JonnyT, as he is interested in trading pullbacks into the main trend, not unlike myself )
have been reading DiNapoli Levels book.
I will leave out the D-Levels, and Fib retraces, etc.
However, he is quite particular about defining the trend, and the neatness of buying dips, and selling rallies.
He uses MACD at 8,17,9. When it is trailing down, the trend is down.
When trailing up, the trend is up.
( he describes this as showing the position of the strong-hands - thats the pros )
Then he uses Stochs set at 8,3,3.
( he describes this as showing the position of the weak-hands - thats me )
The simpler idea ( without the D-Levels, as I believe this could stand on its own as a mechanism ),
is that when the MACD trend is up, wait for the Stochs to fall, and then turn and rise again. The turning point is an ideal "buy the dip", ( weak hands being shaken out ) back into the broader trend.
Reversed for "selling rallies", whereby you wait for the Stochs to pitch up, and keel over, back downwards into direction of MACD direction.
Interestingly, the Stochs idea is surprisingly similar to Linda Bradford Raschkes "The Anti" signal, Stochs set to 7,10,4, where you use the 10 as the broad trend, and wait for the 7 to move away to extremes.
When the 7 "hooks back" towards the 10 line, you take the trade in the direction of the slower 10 line.
( pullback to the trend )
just something to mull over when you get bored counting your money.
have been reading DiNapoli Levels book.
I will leave out the D-Levels, and Fib retraces, etc.
However, he is quite particular about defining the trend, and the neatness of buying dips, and selling rallies.
He uses MACD at 8,17,9. When it is trailing down, the trend is down.
When trailing up, the trend is up.
( he describes this as showing the position of the strong-hands - thats the pros )
Then he uses Stochs set at 8,3,3.
( he describes this as showing the position of the weak-hands - thats me )
The simpler idea ( without the D-Levels, as I believe this could stand on its own as a mechanism ),
is that when the MACD trend is up, wait for the Stochs to fall, and then turn and rise again. The turning point is an ideal "buy the dip", ( weak hands being shaken out ) back into the broader trend.
Reversed for "selling rallies", whereby you wait for the Stochs to pitch up, and keel over, back downwards into direction of MACD direction.
Interestingly, the Stochs idea is surprisingly similar to Linda Bradford Raschkes "The Anti" signal, Stochs set to 7,10,4, where you use the 10 as the broad trend, and wait for the 7 to move away to extremes.
When the 7 "hooks back" towards the 10 line, you take the trade in the direction of the slower 10 line.
( pullback to the trend )
just something to mull over when you get bored counting your money.
