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Michael Gallagher wrote:
>
> Accutrend is a trading system developed by Michael Gur Dillon , the
> author of Symmetry Wave
>
> Does anyone have any comments on this system ?
>
> Mike Gallagher
I purchased his video set about a year ago. It included a number of
videos and a rather thick spiral bound book. The initial qualification
of waiting for 2 or 3 "downwaves" totaling a certain length before
looking for a reversal to go long did not seem very specific because
downwave doesn't seem strictly defined. However, the remaining rules
are very specific and include entries, stops, exits, and re-entries.
It's possible that the "downwave" is better described in one of the
first videos - I only watched the one with the Accutrend system itself
on it.
He shows an equity plot of a multimarket application of the method
which looks good. If this is accurate then the course is a darn good
value (I believe I paid ca. $300 for it).
As I write this I'm trying to remember why I didn't follow up on it. I
think I felt it would be hard to program and rigorously test. You would
need to be able to find n-bar pivots and place orders at a certain
multiple of atr, etc. Now that I have Tradestation, I imagine it's
possible but not easy to program. Manually testing on charts would be
time consuming but not impossible. Maybe I need to go back and look at
this........
If you're confortable with a relatively longterm system and like it to
be "chart level" based instead of moving averages or indictors, I think
this is well worth looking into and probably getting.
(No relationship with the system author or his co. other than
purchasing the videos; just my rather inexperienced opinion).
conrad bowers
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