Hi Simba, I like you're kind-words as: "quien quiera peces ,que se moje el culo"..you have to do your homework,do not expect anybody to spoonfeed you anything really useful.. So,just do it,I am convinced that it will be extremely rewarding... Bravo Simba, I'm fully agree with you, that's why I'm thanking so much for having lesson from you.
I've downloaded the tool posted by newdigital in another thread to analyse the spectrum of currencies. Is there a way to get the correct values of the peaks or we have to estimate them looking at the graph?
How can we now the good period to use for the data analysis? I mean if we should build the spectrum based on 3 month, or 6 months or so.... ?
Could you please give me the name of the book from Hurst please?
How do we create those SMA on the chart? I was using the values of the pics for the period of the SMAs, but I think I'm completely wrong according to what I can see on my chart.
What is the tool you're using to get the cycles' periods?
I hope you can help me.
I've downloaded the tool posted by newdigital in another thread to analyse the spectrum of currencies. Is there a way to get the correct values of the peaks or we have to estimate them looking at the graph?You can see them just by looking at the graph.
How can we now the good period to use for the data analysis? I mean if we should build the spectrum based on 3 month, or 6 months or so.... ?there are 2 ways to do so,first,use as much history data as you have,second use data from the last change in market situation,for example for GBPJPY from 27 December 07..both are valid,in the second case ,you will have to redo the analysis and optimize the parameters every week.
Could you please give me the name of the book from Hurst please?The profit magic of stock transaction timing...bad title,excellent book.
How do we create those SMA on the chart? I was using the values of the pics for the period of the SMAs, but I think I'm completely wrong according to what I can see on my chart.you have to delay by half less one for example sma 51 delayed by 25 periods.
What is the tool you're using to get the cycles' periods?Digital Filters generator,posted by newdigital in this Forum.
I hope I did.
Hi,the replies to your questions are above,regards.
Thank you very much for your answer!! It helps me a lot and that Hurst method looks really interesting.
Thanks Simba for pointing me to Hurst, it works !!!
read the book "Profit Magic of transaction timing"; not fully as it is a bit heavy, but the one concept that is worth a million dollars literally is the concept of displaced moving averages, and this works, try it with long periods, I use 199, 99, 49 displaced by half their periods - all using simple averages. You have to use MTF to guess the direction of the wave next, I start of with the D1 then move down to M5 using stochastic oscillator for confirmation/filter.
You just need to go with the sinusoidal waves and extrapolate. It comes easily with some practice. Try using "vhandstrade" for practice.
I use large stop losses like 100 pips for 10 pips of profit, I know this is not a good approach but I have just started will need to work on this.
Thanks for your enthusiastic comments...yes Hurst methods work..more often than not,since this is just a game of probabilities..so,with 100 stop and 10 tp...you have to win 10 out of each 11 trades just to breakeven..this is slightly higher than 90%..actually 90.91%..winning ratio..extremely high,even for Hurst,and you don`t want to just breakeven..so,think about it....about changing your approach for the best.
Now,all of us have been there...Why do you quickly grab 10 pips while acepting a slow potential loss of 100 pips?...I will tell you a secret..THE NEED TO BE RIGHT...which is rooted in fear of the market...so.learn to respect the market,fear no one,practice with vhands and look for at least 1.5:1 reward to risk trades..even if your winning rate goes down to 55%...you will be much better in terms of money earned..oh,and use a very low leverage until you are convinced,as in physically convinced,when your body tells you this is the way to go,then you can increase your position size...use Hurst in combination with support and resistance and price action,you will be astonished to see how well they fit together..and it will surprise you to acknowledge how fast you start understanding the moves and solving the puzzle that the market presents us each trading day...Think about it,why not trying it?
Thanks again Simba, will give that a "try"
You suggestion are very valid will try to incorporate them.
Any pointers to resources on "price action".
You can check some of Guyver`s threads and/or do a search at this forum for price action,and you can check one of my other threads.."Don`t read this...".
Additionally ,the james16 group at FF have some very interesting threads about price action,pin bars,etc.
Thanks for taking time to suggest.
Did you get drunk over the New Year and forget to put your stops in? Your systems at C2 took a nose dive into negative territory. What the hell happened?