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the sloppy trader
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the sloppy trader

  #21 (permalink)
Elite Member
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traitor786 View Post
So what your saying is to buy when price hits the lower channel but also to look at at HH(higher highs),LL(lower lows),LH,HL,and DT (not sure what dt is but will look it up) then to look to the left for resistance.

by alot of resistance i imagine you mean a horizontal line that connects many pivots ?


What i think your getting at is basically to to place my stop based on previous highs or lows.


DT+double top, Bingo you got it!

In your last thread, you are way over thinking things, use ur fork and HH<HL<LL<LH<DT there is a code in TOS that will plot them as they form on your chart, Might be called Price Swings etc. In the beginning NO dont place your stops at top or bottom of your lines because price might not get there(but it"ll get close be safe come in a little. And really your fork system isnt bad on chop days use the big fork shoot it from left to right on your screen once highs and lows are defined then use your smaller fork to scalp. You ve got the basics no one is going to tell you A,B,C to trading you ve got to get it from here.

I actually like your big dipper technique , its similar to mine

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  #22 (permalink)
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JasonJ View Post
The Kelly formula is a strategy optimization formula referanced in the book "Quantitave Trading: How to build your own algorithmic business.". Portfolio optimization strategies made for individual securities within a diversified portfolio can be applied to individual strategies within a diversified portfolio (of unique strategies). Look at your strategies as the securities, and weed out what is bogging you down.

Full disclosure: I read about the Kelly formula a few nights ago and have not had the chance to confirm or deny the quality; But I have used similar derivatives in some of my advanced microeconomic theory classes. It is sort of like a Cobb-Douglas production function.

Good Luck!

Geez would this be considered SPAM in a forum

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  #23 (permalink)
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traitor786 View Post
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Ok here are those stars. It takes 3 points (or stars) to make a fork. the option of using 4 is just not there.

so no matter how you go about it one of these points were not chosen. price just reversed at the point.

Luckily the 3 points needed are the first 3 a b and c . the last high (like in teh gold chart) ended up there without my selecting it to be there.

This should give an idea of the relevance here. Sure you can say its all clear in hindsight. but i really dont see another way to draw this fork do you .

as far as how many points im trying to get, that would fall under risk management which has yet to be discussed but typically in my old messy fashion i am trying to make a million dollars on my first trade of the day and loose 100 dollars on all the bad trades. at least that is my intention while im taking my morning shower.

Try this use your chart above, set to 3 or 5 min add a 8ema and a 20sma or ema, use your pitchfork on smaller time frame A B C points along with MA I think you ll like what you see.

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  #24 (permalink)
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damn seems like my post wasn't uploaded or deleted

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  #25 (permalink)
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traitor786 View Post
damn seems like my post wasn't uploaded or deleted

Dont follow you, but Ive been playing around with your fork, it will work you need to have another mean(another guide line on your charts thats why I suggested the MA's......Also when you pull the ABC points if price action doesnt run with it, keep trying the fork with MA shows you chop if you read it right wait till ABC line up with PA and run with the trend....

Hope this helps

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  #26 (permalink)
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ok well i guess i didnt upload it?

basically CAT out preformed the market with gains for the for the day when the market was down.

i had tried to post my thoughts on this.

Anways.

What I did was assign a number to where in a fork price was currently yesturday and where it ended up today.

So if it was at the bottom of a pitch fork ( the lower parallel line) i would say it was at 0 % if it was at the median i would say it was at 50% and at the top i would say 100%

I wrote a percentage for each fork in each time frame. Based on previous days bars and also where we ended up today.

so i am trying to make a chart with colomns like:

monthly fork: 20% heading towards median : hit median next day50%
weekly fork 40% heading towards 2 intersecting medians :hit median today 50%
daily ........

Honestly the whole thing is a mess its really hard to assign a number to everything i see, i keep adding in columns like "multi fork" and such.

The whole thing is a huge headache. I will have to look at each chart in every time frame make a note of it and then proceed to update any broken charts. So each stock would need 3-5 views and then keep track of it.

Now the other issue is the moving lines. Let me explain a bit.

when i draw a fork in say a daily chart one of my lines clearly cross todays bar, when i have a look at the 5 min daily chart there is no line going through it . the line is well below the days range. and in the hourly chart the price could be above the days range.


It is interesting that it may be possible that these lines are some how still valid even though placed incorrectly some how.

I would love to do a test with people that use other platforms and even people that use think or swim to see if it is a universal problem.

If you would like to test let me know i will post an example that you could duplicate.

the other issue is that i cant really play monthly or weekly lines as i just cant trust the lines. i have to look at them in the monthly view which is really hard.

i saw some posts above that could siplify things quite a bit
thank you

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  #27 (permalink)
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I'm a bit curious about this moving average and fork . it would make things a bit more smooth as i could screen by moving average.

also the fact that tos may be able to find pivotes could mean that my forks could be put in automatically and unemotionally. these both would help in keeping track and screening.

but i fear something very special to me would be lost.

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  #28 (permalink)
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traitor786 View Post
ok well i guess i didnt upload it?

basically CAT out preformed the market with gains for the for the day when the market was down.

i had tried to post my thoughts on this.

Anways.

What I did was assign a number to where in a fork price was currently yesturday and where it ended up today.

So if it was at the bottom of a pitch fork ( the lower parallel line) i would say it was at 0 % if it was at the median i would say it was at 50% and at the top i would say 100%

I wrote a percentage for each fork in each time frame. Based on previous days bars and also where we ended up today.

so i am trying to make a chart with colomns like:

monthly fork: 20% heading towards median : hit median next day50%
weekly fork 40% heading towards 2 intersecting medians :hit median today 50%
daily ........

Honestly the whole thing is a mess its really hard to assign a number to everything i see, i keep adding in columns like "multi fork" and such.

The whole thing is a huge headache. I will have to look at each chart in every time frame make a note of it and then proceed to update any broken charts. So each stock would need 3-5 views and then keep track of it.

Now the other issue is the moving lines. Let me explain a bit.

when i draw a fork in say a daily chart one of my lines clearly cross todays bar, when i have a look at the 5 min daily chart there is no line going through it . the line is well below the days range. and in the hourly chart the price could be above the days range.


It is interesting that it may be possible that these lines are some how still valid even though placed incorrectly some how.

I would love to do a test with people that use other platforms and even people that use think or swim to see if it is a universal problem.

If you would like to test let me know i will post an example that you could duplicate.

the other issue is that i cant really play monthly or weekly lines as i just cant trust the lines. i have to look at them in the monthly view which is really hard.

i saw some posts above that could siplify things quite a bit
thank you

It'll all come together, I ran across another guy using the pitchfork method, search his thread I think you ll get alot of info there,

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  #29 (permalink)
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let me start off by saying ur the first Ive replied to in this way. Its up to you to see what the chart is telling you, hope my chart helps you in some way>>>>> Look at my chart, dont look at the bars etc look at the white dotted 20sma, each of the pitchforks that are straight up didnt line up with PA in the channel and the 20MA is flat wavy, means chop the first fork drew on at 11:07 would have worked but it reversed, I always wait till after it crosses and goes positive to go long, you see on the second @ 4:25 it started in the middle of channel,20 going up PA has crossed 20 then it climbs breaks the fork mean, then you have two options exit on red bar which the dark grey is resistance on my chart or wait till it breaks lower band which could have happened at 6:55 is it had reversed, ur chart will be different from mine but this will give you something to go off of.

Also there is MA on the bottom of mine charts just a FYI, I really trade off a tick chart along with this one, this one shows you direction a little better but I read PA off my tick

Check out the other thread, Good Luck with your quest

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  #30 (permalink)
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montreal
 
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Rad4633 View Post
It'll all come together, I ran across another guy using the pitchfork method, search his thread I think you ll get alot of info there,

yes i think i saw it and he had a site. it was interesting with alot of info but didnt go in to how to work on the risk to reward ratio and how to keep track of trades. it is the this that im trying to accomplish. the actual entry is not as important but i must say that i am seeing new things by forcing myself to look at multiple time frames

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