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Can you point me to the PPMA? I honestly had never heard of it before and I did a few searches and it is mentioned, but haven't seen an indie called that?
of course, I usually don't find the indie's anyways. Thanks.. I like your setup and doing something similar on FOREX for about a month now just testing. Trading Daily's etc...
Can you help answer these questions from other members on NexusFi?
Perry took the standard SMA that comes with NT, set it to calculate as "typical" instead of closing price and then he has two of those one set at 1 period and another at 3 period. He calls them pivot point moving averages. As near as I can understand it, the very short term MA's are what is happening RIGHT NOW. And for a long, price must close above them and they must be pointed UP. I think thats the basics of it anyway. I didnt like having so many lines on the chart. So just looking at the price action, its basically buying after an up bar and selling after a down bar. Not to complicated and no need for another indie to show that. He's doing it on a range chart and I'm doing it on a minute chart. Simple
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Sounds similar to MWinfrey's 5 minute Odyssey. Ok, looks like you are entering at the close of a bar. How do you determine your risk? Do you put your stop behind the entry bar, or do you have a fixed size stop? And given that all your targets and stops are not uniform, I assume you have some sort of stop management as well?
Risk is the swing, target is 16 ticks unless I think I can get a few more due to the distance to the next swing. I do have a stop strategy but since I think stops are highly personal, its not worth mentioning here. Suffice to say, I get to BE pretty darn fast.
And yes, it is similar to the Odyssey except that Mike would trade regardless of direction of the trend and his SMA was an 8 period I believe. The MA I think was to short to be of real use on a 5M and I don't trade counter trend and I have consolidation and transitional market state filters. I think he was using a stoch to help him filter trades. I don't like panel two indicators at all.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
