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> p> Sometimes, the best price to enter is at the Market on Open
(Previous
> p> days close price), if the signal is strong, else it is prudent
only
> p> to enter at High of Day/Low of Day, i.e., sometimes the Market
opens
> p> and the open price is the Low/High of day or very close to it if
the
> p> Buy/Sell signal is strong, so that the Low or High of Day
predicted
> p> by the formula I referred earlier is never touched.
>
> Pal . . . I need a translator of some foreign language to understand
> what on God's earth this could possibly mean above. i.e., 'Market
on
> Open' does NOT, and never will = 'Previous days (sic) closing
price'.
> You seem to be saying it does.
You should always try to enter at Market on Open which should ideally
be previous Days Close price. 99% of the time your order gets filled
if your signal system is not a lagging indicator and gives signals
one day before the market moves as mine does... This avoids the
practice of chasing the markets, increases profits, reduces
drawdowns... Actually, I used to pyramid/pillar my losing positions
entered at MOO, because previously I was not able to accurately
measure the strength of the detected signal, but now I do not
pyramid/pillar my positions, as I have optimized my entry points...
>
> And it would **ALWAYS** be "prudent" to enter at the High of the day
> or the Low of the day. Always. Not "else". ^^_^^ But I doubt
> seriously you or anyone else can.
That is my main point. Sometimes the High/Low of day is the Open
price or very close to it if you have a sufficiently strong signal,
otherwise if you have a weaker signal you have to enter at predicted
High/Low of Day... Sometimes the weaker signal turns into a good
Long term one. So I can't cherry pick signals... I have to trade
every damn one of them...
The formula I referred is quite good in predicting High/Low of Day.
Sometimes, the predicted High/Low of Day is exceeded, so you should
have sufficient equity to withstand the volatility. I do not have
more than 42% of my Usable Margin invested at any one time. I need
the rest 52% to withstand the volatality. Ideally, you should have
100% invested and make consistent gains to maxmize profits...
>
> p> Actually, this formula is in the AFL library. It is the Pivot
Points
> p> Support and Resistance. It is heavily used by the Floor
traders...
>
> Wait a minute. You're going to refuse to reveal a formula that's
> already in the AFL library???
>
> Oh boy . . . I sure am missing something here.
No. I said I cannot reveal the formula for the signal detection
system, not the formula for predicting the High/Low of day...
Regards,
Pal
>
> Yuki
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