dmedin

Faith, Peregrin Took! If the oblations from Jackson's hole are not sufficiently sweet and savoury to the gods of the market, we might see the dollar rise again. 🧐

https://uk.reuters.com/article/uk-europe-stocks-poll/what-you-see-is-what-youll-get-no-upside-for-european-stocks-reuters-poll-idUKKBN25M13E?il=0

And this: https://uk.reuters.com/article/us-global-confidence/column-public-confidence-often-inscrutable-pivotal-for-recovery-idUKKBN25M0YI?il=0

That's a great idea!

Gearing up for a new thrust Josephine, 'I f4rt in your general direction!'

All the indices this morning be like this ahead of Jackson's hole (let's hope something savoury comes out of it!)

What's a 'validation set'? Test it 100 times and find a win rate is all I do. Obviously that is not 'sophisticated' enough

Here's an interesting chart. Very large spike in volume.

😻

Ready to drop yet?

A pair of canny loons 😻

Canny loon 😻

I'm SFB today and copied and pasted the wrong bit. It should be: SELL conditions: Price < 200 EMA MACD crossed below signal line from above 0 Bearish candle (e.g. bearish engulfing where current close is < than previous candle close and current open is <= previous candle open) PSAR is above price (sell) BUY conditions are the opposite.

So I'm out of gas now, it's run out of steam, too much constipation around the nation, &c.

Hmmm. Sorry, that's Alexander Elder. Here's Van Tharp. Have not started reading it yet. https://www.pdfdrive.com/trade-your-way-to-financial-freedom-e165232537.html Oh bummer, that one's been removed. One of you guys will need to step up and provide the goods. 🤓

This is a difficult one to backtest 100 times, as the pivots don't usually go far back enough on a single instrument. I suppose it could be tested 100 times by taking recent data for multiple instruments. I'll try it and put it in a new thread

We're in a new bull market

So basically it's not an issue. What's really an issue is me jumping into trades before the MACD makes its crossing. Getting a 'jump start' is, in my experience, less profitable than simply waiting for the confirmation. ProRealTime does not have graphical backtesting as far as I can see. I could program this system partially but ultimately I think it has to be discretionary. So you could program some of the parameters as follows, and set the system to alert you when the conditions are met, then you would review the trade and decide whether to enter and where to put your stop based on candle patterns etc. Buy conditions: Price < 200 EMA MACD crossed below signal line from above 0 Bearish candle (e.g. bearish engulfing where current close is > than previous candle close and current open is >= previous candle open) PSAR is above price (sell) Sell conditions are the opposite. I suppose if you wanted to fully automate it you could simply place the stop a couple of points below/above the PSAR and set TP to 1.5x the distance of the stop. There are other buy conditions and variations such as: * Buy when MACD rises above signal while both lines are above 0 on a bullish candle making a higher high with a stop just under the previous bullish candle * Opposite for selling And all sorts of other variations and optimizations are possible. Slope of the 200 EMA?

https://www.pdfdrive.com/the-new-trading-for-a-living-psychology-discipline-trading-tools-and-systems-risk-control-trade-management-wiley-trading-e157695777.html

I've got 'The new trading for a living' in PDF format and I'm reading through it.

What's the slippage factor on that instrument? Doesn't the likelihood of slippage increase during such parabolic moves?

Tom, what is your directional bias apropos of the charts 🤔

The dollar is hanging on like one of those t^rds that clings to your bunghole.

Yes, you're right. My original intention was to try and find a use for the Bollinger Bands. You know that there are two approaches, selling/buying bounces off the outer bands is one; selling/buying breakouts from narrow bands is another. But if you just follow every signal the Bollinger Bands gives you, you'll lose a LOT of money. Hence it needs a filter. Some filters I've seen mentioned are using stochastics; waiting not just for a bounce but for a move back above/back below the 20 MA; determining the trend using a higher time frame; and using the 200 EMA. They all need to be tested, tweaked, optimized to see which works best. I'm kind of leaning into thinking BB isn't great for making trading decisions, but other people seem to be able to make use of it.