[Edit 02-Feb-2009] I closed the short
January 29, 2009
early short on EURUSD
I should have waited more. See the charts.
[Edit 02-Feb-2009] I closed the short
[Edit 02-Feb-2009] I closed the short
January 22, 2009
3D Charting of a Master swing trader
Successful trade execution aligns positions through a multidimensional time view.
First choose a primary screen that reflects the holding period and matching strategy.
Then study the chart one magnitude above that period to identify support-resistance and other landscape features that impact reward:risk.
Finally, shift down to the chart one magnitude below the primary screen and identify
low-risk entry points.
...
Time frame analysis above and below the current setup chart will identify opportunity and risk in most cases. For example, when a promising setup appears on a 5-minute chart, the swing trader checks the 60-minute chart for support-resistance but uses the 1-minute chart to time execution to the short-term flow of the market. This multidimensional approach works through all time levels.
Alan Farley - The Master Swing trader
First choose a primary screen that reflects the holding period and matching strategy.
Then study the chart one magnitude above that period to identify support-resistance and other landscape features that impact reward:risk.
Finally, shift down to the chart one magnitude below the primary screen and identify
low-risk entry points.
...
Time frame analysis above and below the current setup chart will identify opportunity and risk in most cases. For example, when a promising setup appears on a 5-minute chart, the swing trader checks the 60-minute chart for support-resistance but uses the 1-minute chart to time execution to the short-term flow of the market. This multidimensional approach works through all time levels.
Alan Farley - The Master Swing trader
January 16, 2009
January 11, 2009
plan for next week
- Select one or two trades for the entire week
- Watch the news for FOREX trades
- Psychological recovery.
- Write the results at the end of the week.
- Use STOPS and TRAIL your winners
How to avoid the multicollinearity trap ( John Bollinger)
Multicollinearity - several series containing very similar information used as though they were separate, independent inputs.
To avoid the multicollinaarity trap use only one indicator for each category
To avoid the multicollinaarity trap use only one indicator for each category
| CATEGORY | EXAMPLE INDICATORS |
| Momentum | Rate of change, Stochastics |
| Trend | Linear regression, MACD |
| Sentiment | Survey, Put-Call ratio |
| Volume(OPEN) | Intraday Intensity, Accumulation Distribution |
| Volume(CLOSE) | Money Flow Index, Volume Weighted MACD |
| Overbought/oversold | Commodity Channel Index, RSI |
January 8, 2009
long EURUSD too early
I should have waited more before my entry as the daily BBWidth was in an downward trend.
Follow Up 9-Jan : The same conclusion - I should have waited more for the entry.
Exit for a loss :
Follow Up 9-Jan : The same conclusion - I should have waited more for the entry.
Exit for a loss :
January 5, 2009
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