hi friends
I was trading with lots of systems.
But the one method which I liked i here.
I used it for daytrading AND made profits.
reason?
it is so simple nd you spot trend correctly and fast.
the method belongs to JAKE BERNSTEIN.
JAKE is a self made trader.
he took 15 years to become a good trader.
Jake always asked one question.
if your method is good enough,it must be possible to test it using a computer and find if it has a winning edge.
if you show your trading chart to a 1000 traders,all must see and understand same thing.
ask any trader to find elliott waves on a chart and if you ask 10 traders every guy sees different waves with different begin and end points.
this is a subjctive method and jake doesnt like subjective methods.
similarly ask guys to drawtrendlines. everybody comes out with different trendline-no two lines are close.
the method is called MAC (10ma of HIGH 8 ma of LOW with price.)
====================
what works?
what worked for me?
the answer is MAC
moving average channel.
just create a line simple moving average of highs of 10 periods
create another moving average of lows of 8 periods with another color
ADD PRICE BARS.
Buy when price bar makes two closes above ma 10 of highs.
sell when price bar makes two consecutive closes below ma 8 of lows.
you can use ma10 high line as stoploss. for shorts you can use ma8 of lows as stoploss.
the method is available here on this forum.
you can add ma 57 of williams advance decline for volume as support basis.
all the best.
I was trading with lots of systems.
But the one method which I liked i here.
I used it for daytrading AND made profits.
reason?
it is so simple nd you spot trend correctly and fast.
the method belongs to JAKE BERNSTEIN.
JAKE is a self made trader.
he took 15 years to become a good trader.
Jake always asked one question.
if your method is good enough,it must be possible to test it using a computer and find if it has a winning edge.
if you show your trading chart to a 1000 traders,all must see and understand same thing.
ask any trader to find elliott waves on a chart and if you ask 10 traders every guy sees different waves with different begin and end points.
this is a subjctive method and jake doesnt like subjective methods.
similarly ask guys to drawtrendlines. everybody comes out with different trendline-no two lines are close.
the method is called MAC (10ma of HIGH 8 ma of LOW with price.)
====================
what works?
what worked for me?
the answer is MAC
moving average channel.
just create a line simple moving average of highs of 10 periods
create another moving average of lows of 8 periods with another color
ADD PRICE BARS.
Buy when price bar makes two closes above ma 10 of highs.
sell when price bar makes two consecutive closes below ma 8 of lows.
you can use ma10 high line as stoploss. for shorts you can use ma8 of lows as stoploss.
the method is available here on this forum.
you can add ma 57 of williams advance decline for volume as support basis.
all the best.
(Share) Are you fed up of trading complicated trading systems? here is a simple method that
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