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A classic five men and an elephant comment
suggesting the existence of the holy grail. Proper execution of
either S&R or momentum or in combination with good money management
will produce equivalent results for either mechanical or discretionary
trading. Improper execution also produces equivalent results at the other
end of the spectrum. There is no single road that is right for
all traders in all time frames with temperaments that range from hyper to
comatose and risk tolerance that is all over the map. The right road is
very trader specific and definitely not a simplistic one size fits all
situation.
Bill
----- Original Message -----
Sent: Wednesday, May 07, 2008 10:50
PM
Subject: [amibroker] Re: Jake Bernstein
Momentum formula
Anthony,
Do yourself a big favor. Don't waste
your precious time on this
earth with this kind of drivel.
Chasing price with momentum
indicators is not going to get you where you
want to be.
Coming up with a support/resistance system is all you need
to make
whatever you want from the markets.
I've seen hundreds of
traders get wiped out trying to go on the path
you're following and all of
the successful traders I've been around
in the e-mini futures have used
S/R as the foundation of their
trading methodology.
And, above all,
embrace your emotions in trading because they teach
you what you should
and shouldn't do going forward. Computers learn
nothing while you
learn from every win and loss you make.
Finding an edge in trading is
easy. It's only hard if you're using a
computer to find a needle in
a haystack because you didn't make a
good enough investment in real-time
observations of the markets while
researching an edge you'd like to
trade.. That makes all the
difference in the world for knowing
what works and what doesn't.
You'll come up with 10 edges to trade if
you put the time in to
experience a live market on a regular basis without
trying so hard.
It will bring out your imagination and creativity to
find what you're
looking for.
I wish someone had told
me that 4.5 years ago when I started trading
the ER2 e-mini. It
would have saved me a lot of time chasing
nonsense.
--- In amibroker@xxxxxxxxxxxxxxx,
"ihsaham" <ihsaham@xxx> wrote:
>
> Hai Tomasz,
>
> This is simple Jake Bernstein Momentum Formula for chart and
scanner.
> Please help me give arrow buy and sell. Buy arrow is
Green colour
and
> Sell Arrow is Red Colour.
>
> I
really appreciate and thanks for you in advance.
>
> Best
Regards,
> Anthony Idic
>
>
>
>
_SECTION_BEGIN(" $ Momentum ");
>
>
> /* Bernstein
Momentum Indicator */
> /* Set Scaling to Automatic, Show dates On,
Percent On, Middle On */
>
> Title = "Bernstein MOM Close -
Ref(Close,-7)";
> GraphXSpace = 5;
> Graph0 = MA(Close -
Ref(Close,-7),1);
> Graph0Style = 5;
> Graph0Color = 29;
>
Graph1 = MA(Graph0,5);
> Graph1Style = 1;
> Graph1Color =
32;
>
>
> DaysAgo
=Optimize("DaysAgo",-28,-40,-16,4);
> Fast = Optimize("Fast", 1,
1,5,1);
> Slow = Optimize("Slow",28,16,40,4);
> /* Note: It is
merely a coincidence that DaysAgo and Slow use the
> same parameter
set. */
>
> Buy = Cross( MA(Close -
Ref(Close,DaysAgo),Fast),
> MA(Close - Ref(Close,DaysAgo),Slow)
);
>
> Sell = Cross( MA(Close - Ref(Close,DaysAgo),Slow),
>
MA(Close - Ref(Close,DaysAgo),Fast) );
>
>
> Short =
Cross( MA(Close - Ref(Close,DaysAgo),Slow),
> MA(Close -
Ref(Close,DaysAgo),Fast) );
>
> Cover = Cross( MA(Close -
Ref(Close,DaysAgo),Fast),
> MA(Close - Ref(Close,DaysAgo),Slow)
);
>
_SECTION_END();
>
------------------------------------
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