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I like to watch the triangles for the false breakouts which the big traders
use to sweep out the stops before reversing to the direction they plan on
taking it. For example, in an ascending triangle in uptrend, they will
almost always break the lower, upsloping trendline by several ticks. If the
break is immediately reversed (Mine Sweeper), then it's a good bet they are
going to take it up fast and entry can usually be made a handle or two above
the low with a stop at the low. Another watch item on this pattern is a
break up through the upper line which falls back through the lower trendline
... a clear failure pattern which can be traded.
Earl
----- Original Message -----
From: "tradewynne" <tradewynne@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, May 01, 2003 8:01 AM
Subject: [RT] Re: Triangles- PPS Trading System
> > > I think there is a "PPS" software, but I doubt it can get
> > > the whole deal...How
> > > do you code multiple triangles like that?
>
> As I was writing a little voice said: "I bet Clyde's got
> something."
>
> Very nice! Thanks!
>
> Anyway, "PPS" is sort of a system for trading triangles. I read
> the book (may still have it?), but it was a long time ago. And
> I've seen the "system" too. The hard part of coding the *system*
> in my mind is not only finding triangles, but deciding which ones
> to trade, and where and how to trade them. Even Arnold's original
> system wasn't exactly "right." Simple vanilla breakouts
> are too well known and risky for my blood: even when they work they
> tend to get whipsawed a bit first. Nonetheless, I think triangles
> are worth a second look; by their very nature they are range
> contractions and as such can be energy "coils" for the market.
>
>
> --- In realtraders@xxxxxxxxxxxxxxx, "Clyde Lee\(SBCY\)"
> <clydelee@xxxx> wrote:
> > Triangles are "simple" but "complex" things.
> >
> > Measures of the validity of a triangle could be the number of
> > bars from base to apex of triangle -- Junk0 & Junk1 use a 250
> > bar criteria while Junk2 uses a 100 bar.
> >
> > Another measure is the difference in the slope of the top and
> > bottom lines. Junk0=1.0, Junk1=0.5, and Junk2=0. But
> > remember, the cutoff for junk2 was 100 bars.
> >
> > Of course the first parameter is the length (in bars) for picking
> > the pivots. In these cases it was 8 bars (see LengthOfSwing for
> > an explanation -- in files area).
> >
> > Thought this might provoke some conversation about what
> > these "straight line" figures represent.
> >
> > If you want to study other symbols let me know and I will
> > publish them.
> >
> > Clyde
> >
> > - - - - - - - - - - - - - - - - - - - - - - - - - - - -
> > Clyde Lee Chairman/CEO (Home of SwingMachine)
> > SYTECH Corporation email: clydelee@xxxx
> > 7910 Westglen, Suite 105 Office: (713) 783-9540
> > Houston, TX 77063 Fax: (713) 783-1092
> > Details at: www.theswingmachine.com
> > - - - - - - - - - - - - - - - - - - - - - - - - - - - -
> >
> > ----- Original Message -----
> > From: "tradewynne" <tradewynne@xxxx>
> > To: "realtraders" <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Wednesday, April 30, 2003 11:28 AM
> > Subject: RE: [RT] Triangles- PPS Trading System
> >
> >
> > > --- In realtraders@xxxxxxxxxxxxxxx, "Trey Johnson"
> <dickjohnson3@xxxx>
> > wrote:
> > > > Does anyone have the easylanguage code for this?
> > > > Trey
> > >
> > >
> > > I think there is a "PPS" software, but I doubt it can get
> > > the whole deal. Check the July Soybean chart attached. How
> > > do you code multiple triangles like that? If anyone's done it,
> > > I'd love to see it.
> > >
> > > BW
> > >
>
>
>
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>
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>
>
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