I've always thought comp sci was a better choice for an independent trader. I mean what trader wouldn't benefit from better programming skills?

Should I study Economic or Finance?

Well, but a lot of the floor people went electronic, so old methods persist. Since you seem to be selective on what testing you would feel is conclusive, perhaps you could provide us with the specific metrics you'd like tested? Maybe someone will do ...

Daily Weekly Monthly and now Yearly !!!

Yea, but you didn't actually expect the thread to stay on topic, did you? Thanks for the info. So you use monthly and yearly as S/R, altho it's not hard&fast since that price often breaks. You like to trade breaks like that it sounds. Laff. He ...

Daily Weekly Monthly and now Yearly !!!

You'll notice I posted that 2 hours in advance of it happening Altho in all seriousness it was just a lucky guess, and phrased ambiguously enough to not matter. I'm quite sure my hit/miss rate on those kind of guesses would be no better than 50% ...

Daily Weekly Monthly and now Yearly !!!

One of his. It's the pivot plus 23.6% of the previous day's range (high minus low). Has me thinking tho, since I haven't found standard pivs to work well on weekly or monthly TF, maybe fibs would. I don't usually fib time frames, just swings... but ...

Daily Weekly Monthly and now Yearly !!!

Touched the 23.6 and retreated off of it. That's quite nice, what that means is there's a ratio between the pivot formula I use and the one you're using. I wonder how often that happens... Ed: I just have to laugh a bit... That was a few hours ago. ...

Daily Weekly Monthly and now Yearly !!!

I actually have quite a few more lines than that. I like lines. But I use them all differently, some are just to help me see trends, some are to help me see ranges, some don't have any meaning except to me. Some, on the other hand, have meaning over ...

Daily Weekly Monthly and now Yearly !!!

I've done a lot of testing. Today's news release is a good example, the EURUSD found resistance at the R2/R3 midpt, the GBPUSD did the same, then fell back to R2. I use midnight GMT, which is 8pm to me. GMT is a standardized timezone, that's all. It ...

Daily Weekly Monthly and now Yearly !!!

Guess you're using the wrong formula . I have great results w/ daily pivot points on intra-day charts using the standard (H+L+C)/3 formula, with the daily bar start set to midnite GMT. The pivot itself isn't as useful as the R1/S1 and R2/S2 lines, ...

Daily Weekly Monthly and now Yearly !!!

Have you found any adherence to weekly, monthly or yearly pivots? Daily pivots often become intra-day resistance/support, but I've never seen that effect on other time frames. If so, do any of the midpoints seem to matter? They're very useful during ...

Daily Weekly Monthly and now Yearly !!!

Oh, the average for that specific time frame over time... don't know of any, no.

Time of day to trade

Sortof. You could use the ATR indicator on the 5 or 10 minute TF. No reason it would only be a daily indicator. Problem is there's no consistently volatile time frames like that. Generally speaking the volatility will occur on... 3am, 4am, 6am, and ...

Time of day to trade

I trade from 3am to noon eastern time. I don't spent the entire day at the computer tho, just long enough to get trades in. Most of the time that's 4am, 6am, or the 8am to 10:30am block. For the rest I have automated alerts, computer beeps when it's ...

Time of day to trade

If you're opening hedged positions at the exact same point there's no end profit potential. You're just building a bunch of paper losses and cutting your gains short w/ the 5 pip TP, all with a spread cost. Merlin actually proved this in another ...

just some stupid thought

Heh. A lot of traders lose money because they focus too heavily on entries and put none on their exits. The exit is what actually makes the money.

The reason why 95% of new traders consistantly lose money

No SL means this... the system will work great for a time until, one day, the statistically unlikely thing happens... price never reaches your TP. Days go by, weeks, months, at some point you realize it's never going to get hit. Do you let it blow ...

just some stupid thought

Dang, terrifying! Born to be wild. Right, but who's to say which is the 1st, which is the 2nd which is the 3rd. If you have a series of peaks and troughs, which is which? Where does the pattern start and stop? I have the same concern w/ elliot waves ...

What's wrong with 123 Pattern

Haha, wow, what traders groups do you attend?

What's wrong with 123 Pattern

Because it's one of those "works in hindsight" type systems. It looks great on a chart, but when you're looking at a 1 and a 2, you have no clue when or if a 3 is going to occur the way you think it will. It's also way too discretionary, IMO, if you ...

What's wrong with 123 Pattern

Absolutely, msg me or use the IM icons and we'll chat. I actually came the other direction, started a business, invested the profits in real estate, flipped them to my dad and let him manage and run the rentals for a finder's fee, took that money ...

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