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Kamil,
What am I suggesting? First of all I think these guys have a contrarian
opinion and that's better than talking like these idiots on tv do. No
matter if you are wrong or right I think its better not to talk like the
masses do.
Secondly, I have the feeling that they trade like the original program
says. Buy a 20 day break out and keep the thing long until your exit
levels tell you. Only based on pricelevels and nothing else. No volume,
no indicators nothing but price.
I think the original thinking is good; buying break outs and sit back and
relax till the trend itself tells you it is tired. Instead of selling
your longposition against for example Fibonacci resistance levels to the
upside. In a bullmarket these resistance levels will be broken but you
were scared out because of supposed resistance.
Altough this thinking is good I think you can optimize this and practice
this way of trading at any time level. It does not necessarily have to be
a daily level. It can be hourly or 5 minute based. Whatever you like.
So I am suggesting developing a system that calculates/optimizes break
outs. After how many bars must I buy? The original Turtles told us 20 but
that might be different in different markets/timeframes. Maybe the
computer comes up with an optimized level of 14 days. And the same for
long exit, short entry and short exit.
Only based on break outs and forget about indicators and volume.
Do we as little guys care about a low that was put in with 3 billion
sellers? Is that a more valid low than a low with 1 million sellers?
There are spike lows with low volume and prolonged lows with heavy volume
and the other way around. Volume does not say anything about a low. The
only thing that tells you a low is in, is the fact that previous highs of
previous bars are broken to the upside and that lows will be followed by
higher lows. That means the low is in. So why not concentrating on price
only? Forget about Fibonacci, Elliott, RSI, volume, indicators and what
the lunatics on tv tell you.
Well, by now I must have been clear about what I am suggesting.
regards,
Ed Kiers
Kamil Soliman schreef:
> Hi all,
> I also get the newsletter. Rokin, what are you suggesting?
> I really like this technique. Its more like something I
> get to understand than some wierd indicators with dozens of optimized
> parameters. Any fans who wish to contribute on this?
>
> Kamil.
>
> Kamil Soliman
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