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Millionaire in 10 weeks & Conversation with broker

  #178 (permalink)

Market Wizard
Birmingham UK
 
Trading Experience: Intermediate
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MerlinWorld View Post
Yup DEFINITELY those Double Bottoms/Tops Entry need to be consider later on in this backtest when the indicator will be programmed in C#.

Every single trend is nothing more than a series of broken double tops or double bottoms. In a historical chart you only see the ones that get left behind, not the ones that got destroyed, which is one of the many, many reasons why pretty charts are so alluring.

In real time at the right hand edge neither you, your indicator, God, the gods, me or my cat know whether you are shorting/buying a dream entry or about to get run over by a breakout bus. Only when you grasp this simple point will you understand just how limited this kind of stuff is, to say nothing of any channel based trend follower in choppy or fractal shift conditions, with or without squared MA's and fixed point size nonsense.

Best of luck.

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