trading system

elovemer

Well-known member
472 0
...the count stays the same
.... whether you take sell day action is not determined by the count but by what happens

by my count ... i have friday as buy day
 

elovemer

Well-known member
472 0
.....price rarely breaks thru the 10 point to go to 20 point during trading hours .... unless it reverses the move the next day
...so far buy day is a low made first

according to the action.... it is sell day action after the buy point thursday which was SSD
 

elovemer

Well-known member
472 0
wednesday was a buy under low of tuesday
thursday was a buy under low of wednesday
.... monday is SD by count .... action profile could be a short on monday
... look for resistance at the low of tuesday
 

rajo222

Newbie
3 0
wednesday was a buy under low of tuesday
thursday was a buy under low of wednesday
.... monday is SD by count .... action profile could be a short on monday
... look for resistance at the low of tuesday

Beauty on the count! Well done!!
 

elovemer

Well-known member
472 0
.....the count is not so important.
for example, if volatility increases, highs and lows will be hit faster. that means action is taken more often instead of waiting for the count.
... monday short ..... closed at the low of the day ... which was below the low of thursday
short should be closed
..... long play 10 points below the previous low with thursday low as target to close... during globex
my rules say when it closes at the low.... it is a long play during globex
and if it bounces before the close, it is a long play the next trading session below the low

it looks like we are starting a down swing.... i find that buy below works very well even in a down swing
.... the sells above are harder to gauge because of non participation but it seems like people always continue to try to buy lows
 

elovemer

Well-known member
472 0
i am not automated, so performance is mostly dependent upon following the rules
....taking profit is the most important rule.... over stop placement
overall performance depends completely upon trade management, as with any system
......don't have other systems to compare it to.
.... above taking profit, taking partial profit is important for trading both long and short
....for backtesting, targets are more important than the entries
... targets of more than 10 points almost always..... happen over more than 1 day as opposed to intraday
elovemer,
How have you found this approach is performing overall ?
 

elovemer

Well-known member
472 0
...close out at previous low

an objective is a high or a low

.....the count is not so important.
for example,

..... long play 10 points below the previous low with thursday low as target to close... during globex

my rulestry to buy lows
 

Trader333

Moderator
8,658 984
I am not sure automation is possible from what I have read in the book although I know there is a site that provides the studies for TS or other platforms. I was just curious how you were finding it as you have spent quite some time working with it.
 

elovemer

Well-known member
472 0
i don't know how you define ... quite some time
....it is the best system i have found.
... i think the entries are not hard to program, the exits would be more difficult
.......only programming the entries would not be automation

I am not sure automation is possible from what I have read in the book although I know there is a site that provides the studies for TS or other platforms. I was just curious how you were finding it as you have spent quite some time working with it.
 

elovemer

Well-known member
472 0
tuesday is a buy under on a low made first
...... by the count it is SSD
i will use the term action profile. the meaning of this term is..... what action is called for regardless of that current count.
normally a buy under occurs on buy day. in this case it was on a SSD

.... wednesday is buy day ... however the action profile is a sell out of longs taken on tuesday
if wednesday gaps down or makes a low made first below the low of tuesday, then there could be a buy under
... due to the range on monday, there is only a small chance of being able to close a long at previous highs on wednesday
 

pssonice

Established member
900 12
you wrote ".... wednesday is buy day ... "

you wrote : ".... wednesday is buy day ... "

Please, insert some trading levels and your entry point in time !

that s what Linda Bradford Raschke - Swing Trading: Rules and Philosophy
is telling us to do :
If the trade moves in your favor,
carry it overnight--the odds favor follow-through.
Expect to exit the next day around the objective point.
An overnight gap presents an excellent opportunity to take profits.
Concentrating on only one entry or one exit per day relieves the pressure.

If your entry is correct, the market should move favorably almost immediately.
It may come back to test and/or exceed your entry point a little, but that's OK.
Do not carry a losing position overnight.
Exit and play for better position the next day.
A strong close indicates a strong opening the following day.
If the market doesn't perform as expected, exit on the first reaction.
If the market offers you a windfall of big profits, take them to the bank on the close.
If you are long and the market closes flat,
indicating a lower opening the following day,
scratch or exit the trade.
Play for better position the next day.
It is always OK to scratch a trade!
Use tight stops when swing trading (wider stops when trading trend).
The goal always is to minimize risk and create "Freebies."
When in doubt--get out! You have lost your road map and your game plan!
Place your orders at the market.
When the trade isn't working, exit on the first reaction.
 

elovemer

Well-known member
472 0
" tuesday is a buy under on a low made first "
that means place a limit order below monday's low ... on a move down from the open
.... this limit order can be placed at any point in time starting from tuesday open up until that level is filled
....I guess i was mistaken in thinking that much was very clear and easy to understand.
...as for exit target ... for an exit on wednesday ... the target is the previous high which is monday high
.... the exit limit order can be place AT ANY TIME since price has not yet reached there

... if anyone has not read Taylor MULTIPLE times, you probably have no business participating in this thread
.... "from what I have read of Taylor" ... FLLuck off !

as for Raschke... i have read it ... it is fluff and i won't discuss that material on this thread
... the purpose of this thread is to explore Taylor's methods ...
MOVE MADE FIRST ... is an objective hit before 12 noon
MOVE MADE LAST ... is an objective hit after 12 noon
....this method is about placing limit orders at objectives to be filled on a move made first

...if you are attempting to place orders at the RIGHT TIME ... based on discretion... that type of trading is total BS and has nothing to do with Taylor


=================
Please, insert some trading levels and your entry point in time !
 
 
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