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Ross,
Yes Ross, Uncle Steve is indeed me. I should of used Grandad Steve (nine grandkids and counting). When I hosted a chat room for a number of years, I used the "Uncle Steve" moniker.
The T3 is a name assigned to Tim's ema. To avoid confusion, I named the same formula, with different "time periods", T5, T8, etc. It still causes confusion. Maybe a better way of stating it would be T3(3), T3(5), T3(8)...but, I've found that only further confuses the matter. All one has to do is replace the "3's" in the formula with the desired number of periods that suits your analysis. I like to build a template of the T3, T5, and T8. Assigning different colors and thicknesses to each helps distinguish them on the chart.
For my money, and it is at risk daily, the T8 is my preferred short-term trend indicator. Keep in mind: Tim uses .7 in all the places that I have .618. You can compare the difference and it means very little in the formula. I'm a fibonacci guy.
Unlike others, I think there is a lot of money to be made in non-trending markets. To takc advantage of these situations, I daytrade issues. After all, they are non-trending and there is no reason to think that holding on to them would increase profit potential. I like to build "bands" of the T3 highs and T3 lows; then, compare the opening to the bands. Excursions outside of the bands dictate a position (which is put on as soon as the opening is posted). I exit all positions on the close. I've never been a huge fan of daytrading, but the returns in choppy, volative markets have turned my head. Most of my trading has been classic swing trading. Below is the T8 formula:
{T8}
e1:=Mov(C,8,E);
e2:=Mov(e1,8,E);
e3:=Mov(e2,8,E);
e4:=Mov(e3,8,E);
e5:=Mov(e4,8,E);
e6:=Mov(e5,8,E);
c1:=-.618*.618*.618;
c2:=3*.618*.618+3*.618*.618*.618;
c3:=-6*.618*.618-3*.618-3*.618*.618*.618;
c4:=1+3*.618+.618*.618*.618+3*.618*.618;
c1*e6+c2*e5+c3*e4+c4*e3;
Take care,
Steve
From: jawjahtek <jawjahtek@xxxxxxxxx>
To: equismetastock@xxxxxxxxxxxxxxx
Sent: Tuesday, December 30, 2008 6:19:13 AM
Subject: [EquisMetaStock Group] Tillson's T's
Hi Steve,
I am familiar with Tillson's T3 and I share your (previously) stated
preference for T3.
I am not familiar with T8.
Assuming this wasn't a misprint (I searched the web for Tillson's T8
and found an article by "Uncle Steve" -- you??), could you give us
references and/or formulas for T8?
Ross
--- In equismetastock@ yahoogroups. com, Steve Karnish <skeeter47@x ..>
wrote:
>
> Big Papa,
>
> The problem with divergence(s) is that you never know "how much" is
divergence. Sure, many times we all see a market making new highs
while an oscillator has started it's downward slide. But, at what
point is there too much divergence? One of the pet peeves are
educators that claim you can trade divergences (as if a light goes
when the divergence spreads to a certain distance).
>
> Later this month, I plan on giving a Equis seminar (or better put:
Equis is planning on a web seminar that I will be hosting on the 26th
of January). I've decided to review the 2008 mechanical approaches I
favor (concentrating on the DIA). I will be featuring the StoRSI,
the CMO3 and the SEO. First I will show results without a trend
filter. Secondly, I will feature the oscillators with a trend
indentifier (in the seminar I will be using the T8...Tillson' s ema).
Finally, I will show results of the three oscillators, the trend
filter and an alternative exit strategy (Standard Error Band).
>
> Considering how crazy the markets have been this year, these simple
approaches have extracted considerable profits. There are some easy
ways to identify the best prospects for
these mechanical setups.
Simply pick some default triggers (i.e., +90/-90 for the CMO3) and
run a test on all the S&P 500. In little time, you should be able to
zero in on stocks that are bouncing to a regular beat. In the
seminar, I will identify the most likely suspects (the issues that
have continually produced returns). Some will outperform the 2008
stats; some will not perform as well; and of course, many will
continue at their 2008 pace.
>
> As we get closer to the seminar date, I will share more information
about the approaches. It is the same work that I've been doing for
the past dozen or so years. It's simple stuff.
>
> Happy New Year to one and all,
>
> Steve
>
>
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