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How to build a good trading strategy?

Tony Gregg
Greggy
Nov 01 2016 at 07:55
158 โพสต์
My point exactly!!!

How to do the Parabolic Moving Average or the Parabolic Cross as I like to call it:

1. Bring up blank Chart.
2. Place Parabolic on chart.
3. Place 1 Day Smooth Moving Average on Chart.
4. Right Click on chart. Go to Indicators List.
5. Edit Moving Average and go to Apply to First Indicators Data.
6. Then place 5 Day Smooth Moving Average on Chart.

Draw lines from Highs and Lows through where 5 Day Smooth Moving Average Intersects with Parabolic Average as in chart.

Richard Bills (RichardBills)
Nov 01 2016 at 14:39
74 โพสต์
Greggy posted:
You know what I think, these Elliott Wave Theorists forget every other Technical Indicator, trend lines, the lot just so they can get their flat, their triangle, their double bottom and anything else they can think up. I think it is the Elliott Wave Theorists who manipulate the market and I think it is a Bankers Theory.


Elliot Wave principle is pure science with all the complexity it brings. You are right that it is used by professional dealers and bankers and there is a reason for that. I know also friends that apply the waves in their strategies and quite successfully. I like that scientific part and truly believe that it works, as it takes diverse set of factors into consideration, including psychology.

Raj (RPatell)
Nov 02 2016 at 10:52
64 โพสต์
The good trading strategy is a combination of art and science 😄 But backed up with solid action plan. My personal steps include:
1. Define how much you are ready to invest.
2. Define the risk level you are comfortable with.
3. Decide of the ratio between automated and manual trading.
4. Define the instruments to trade.
5. Define your style of trading (intraday, swing etc.)
6. Test it with different demos and brokers.
Once you feel ready, have enough confidence, you can start small with live account.
I am also interested about theories involving astrology in trading 😄 but I need to research further.

Tony Gregg
Greggy
Nov 02 2016 at 12:46
158 โพสต์
Hi Vouch

I don't see how Ellott Wave works, I can't get my head around it. I do in some cases, but not in all. Just thought, do you have to count on all time frames because if you do that's hell of a lot of work. What if you get your count wrong on the 1 minute chart or the 15 minute, 4 Hour chart or Monthly chart. Monthly is probably easier, but 1 minute. Not only that when did all this counting begin? Which year? Which cycle are we in? I guess it comes down to what works best for you.

Messittos
Nov 07 2016 at 08:09
6 โพสต์
These are good tips for becoming a professional, and don't forget yet that it's crucial not to get gambling there. Take as much money as you can just throw away and forget about - that is the sum you're allowed to invest. If you are close to margin call and want to enlarge your balance, then you should stick to the rule above as well. The idea is that you feel less emotional tension and avoid panic if you really invest as much as you can withstand to lose or even less, and you still trade real money and thus involve real trading psychology. This altogether would help to work out trading skills and right reactions to market movements. And another crucial tip: beware trading during hugely impacting news releases.

Dove_Services
Nov 08 2016 at 07:48
33 โพสต์
Greggy posted:
You know what I think, these Elliott Wave Theorists forget every other Technical Indicator, trend lines, the lot just so they can get their flat, their triangle, their double bottom and anything else they can think up. I think it is the Elliott Wave Theorists who manipulate the market and I think it is a Bankers Theory.


For someone who has expounded on different TA ideas but then resort to trading on feeling and hope is not demonstrating that you can put together a technical trade plan and go with it. Rather than being highly opinionated on a subject that you have no understanding and then denigrating it, you should instead spend your effort in applying what you at least think you know.

Tony Gregg
Greggy
Nov 08 2016 at 12:39
158 โพสต์
Dove_Services posted:
Greggy posted:
You know what I think, these Elliott Wave Theorists forget every other Technical Indicator, trend lines, the lot just so they can get their flat, their triangle, their double bottom and anything else they can think up. I think it is the Elliott Wave Theorists who manipulate the market and I think it is a Bankers Theory.


For someone who has expounded on different TA ideas but then resort to trading on feeling and hope is not demonstrating that you can put together a technical trade plan and go with it. Rather than being highly opinionated on a subject that you have no understanding and then denigrating it, you should instead spend your effort in applying what you at least think you know.

Say what you want, I'm a human algorithm now!!!

Tony Gregg
Greggy
Nov 08 2016 at 12:39
158 โพสต์
Tony Gregg
Greggy
Nov 08 2016 at 12:42
158 โพสต์
All I'm saying is I've given enough clues and I'm saying no more. Read my comments. Bit like putting a jigsaw puzzle together!!!

Tony Gregg
Greggy
Nov 08 2016 at 14:54
158 โพสต์
Forgot to say this is my trading history this morning, but I was missing one ingredient.

Happy Trading & Remember Think Like a Robot!!!

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