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Any of you ever red that book? I'm going trough it now and find it very useful. Just need maby some modification about the tech since Forex got no volume and phase 1 and 3 are often cut in low TF.
Anyway, have a look and tell me what you think about it or if you ever heard about his application on Forex.
This guy been best stock picker in several years on Walls streets. Found about it by yourself from there, i think its worth.
Any of you ever red that book? I'm going trough it now and find it very useful. Just need maby some modification about the tech since Forex got no volume and phase 1 and 3 are often cut in low TF.
Anyway, have a look and tell me what you think about it or if you ever heard about his application on Forex.
This guy been best stock picker in several years on Walls streets. Found about it by yourself from there, i think its worth.
I like this insight, very simple and well tested techniques. The ones that have worked during many years.
Thx mister Linuxser for consideration and good comments.
As ask by a friend i will developpe a little on the subject since i found the think preatty accurate and also found that it help to get rid of all indicators and get straight to my signature meaning: common sens trading. Well...
Here's the deal. Mister Stan Weinstein rote the book "Secrets For Profiting in Bull and Bear Markets" witch he developpe in he's method. http://www.learnstockmarketlegends.c...weinstein.html
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Price is going trough 4 stage of action:
STAGE 1: price ranging/side action or slighly trending in between S and R, price cross over and under the major MA - i personnaly use 21 EMA
STAGE 2: price broke the S or R whit major MA going on the same side. = take position or wait for return at major MA. First broke is majorly more profitable, but more risky also. We can help us whit stoch, macd or/and RSI.
Stage 3: price make top/bottom pattern, broking trend line, and broke major MA, ranging around it making a new corridor of S and R.
Stage 4: price broke S or R whit major MA on the same side = stage 2
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My setting:
4 SMA
10-21-50 and 200 EMA
S and R of the day
FIbs
It's because I really like when people discovers this methods. The're old ones.
When you read first books about TA more or like this ideas are present. Few have changed during years. Pennants, triangles, trend lines. RSI have thirty years, MACD too, and stochastic is close to half century. And for some reason should be, right?
Swimming into this methods and trough the words of this authors is like to start a journey, a travel... and it's cool, really cool...
"Secrets for Profiting in a Bull or Bear Market" was I think the first book on trading I read about 15 years ago. I still have a copy and can remember Stans approach like it was yesterday.
Even today I can see there is value in his book.
The Big Picture.....
inzider,can you post the indicators & template you are using with this method?Thanks!
all you need is to plot 4SMA, 10EMA, 21EMA, 50EMA and 200EMA, then you can add daily pivot and fibs for S&R. That simple. This is a theory, no fix system.
Quote:
Originally Posted by TommyD
"Secrets for Profiting in a Bull or Bear Market" was I think the first book on trading I read about 15 years ago. I still have a copy and can remember Stans approach like it was yesterday.
Even today I can see there is value in his book.
The Big Picture.....
Hi Tommy!
Yes the book still worth and as you mention, "what's good is kept alive by history".
Stoch, RSI, MACD.... as major MA break as Trend break tech wont disapear whit all the new indicators... or time.
If you manage a little your capital and make your self a basic system manage on MA and daily pivot, this "method" give you logic and accurate signal.
It also help to read the TAPE. Get an idea what's the price do, in a preatty simple way.
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I ll try to developpe a bit more on the subject when time and info will be available.
It's a pleasure to give a little to this community.
To be exacte, not much can be say about that book over forex market. The major concept into that book is the 4 stage analysis. Range, trend, range, trend.
Exept that, mister Stan proposition is to use volume peak to confirm breakout, and rsi need to be over /under 50 level.
Since forex market got no volume, this part can't be applied. RSI setting are subjective since no market or TF act the same.
All other chapter are about how to choose a good stock and some chart pattern setup.
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I made a quick chart to show you how this technic had work over eur/usd this 'morning".
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Linear Mode
