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philhackett · 30-11-2004, 06:01

Use Keltner Channels with Bollinger Bands and a five day EMA or better still Dema which is a Double Exponetial Moving Averqage which you get with Dealbook. email Wes Newman @ wnewman@gftforex.com and tell him I recommended him to you. He is a superb Manger and will give you lots of time. Send him your telephone number and he will call you.

You really need at least three screens to trade, so consider installing a Parhelia Matrox Card.

HOW TO TRADE;
When the candles are within Keltner the market is Range Bound.
When the Candles move out of the KC together with the MA and Bollinger appears to blow open, enter a trade. Immediately place a fixed stop behind your entry point and move it up to cover the spread as soon as possible. Always exit a losing trade. You will not lose money if you do this.

You need a Pivot Point calculator which you purchase from Fabrefactum. There are free ones which are not good enough. You need all 9 pivots.

At the start of the day calculate the 24 and 72 hour pivot points and then look for the markets position. If it is above then the day will be an up day, below means a down day and confused signal usually means Range Bound.

SCALPING: When the KC is 20 points wide and the candles move above the top band, trade the reversal throught the KC. It is not so easy to tarde it up from below.

Pivot Points are used by all floor traders. They are decision points when trades are entered or profits taken. Never trade between them. It is no-mans land.

KAGI: You need a Kagi to run alongside the candle chrts to give a clear view of the market direction, again available with Dealbook.

You may like to place RSI below your chart but nothing else. You do not need any more than I have described here, but as a Newbie you may like to put DiNapoli Macd and Indicator 75 on a seperate screen to help you make entry decisions. Purchase Steve Nilsons Candle Stick Course and learn it cover to cover. Read Murphys Technical Analysis of the Financial Markets and its companion book of test questions.

Accept that most of the people you will met here are keen amateurs with very little understanding of what they are doing.

Find your national Society of Technical Analysts and join. They should run a Diploma Course. Take it and pass.

I hope this helps.

Phil Hackett MSTA

30-11-2004, 06:01	#15
philhackett level 1 Join Date: Aug 2004 Posts: 56 Downloads: 0 Uploads: 0 Rep Power: 0	Trading Use Keltner Channels with Bollinger Bands and a five day EMA or better still Dema which is a Double Exponetial Moving Averqage which you get with Dealbook. email Wes Newman @ wnewman@gftforex.com and tell him I recommended him to you. He is a superb Manger and will give you lots of time. Send him your telephone number and he will call you. You really need at least three screens to trade, so consider installing a Parhelia Matrox Card. HOW TO TRADE; When the candles are within Keltner the market is Range Bound. When the Candles move out of the KC together with the MA and Bollinger appears to blow open, enter a trade. Immediately place a fixed stop behind your entry point and move it up to cover the spread as soon as possible. Always exit a losing trade. You will not lose money if you do this. You need a Pivot Point calculator which you purchase from Fabrefactum. There are free ones which are not good enough. You need all 9 pivots. At the start of the day calculate the 24 and 72 hour pivot points and then look for the markets position. If it is above then the day will be an up day, below means a down day and confused signal usually means Range Bound. SCALPING: When the KC is 20 points wide and the candles move above the top band, trade the reversal throught the KC. It is not so easy to tarde it up from below. Pivot Points are used by all floor traders. They are decision points when trades are entered or profits taken. Never trade between them. It is no-mans land. KAGI: You need a Kagi to run alongside the candle chrts to give a clear view of the market direction, again available with Dealbook. You may like to place RSI below your chart but nothing else. You do not need any more than I have described here, but as a Newbie you may like to put DiNapoli Macd and Indicator 75 on a seperate screen to help you make entry decisions. Purchase Steve Nilsons Candle Stick Course and learn it cover to cover. Read Murphys Technical Analysis of the Financial Markets and its companion book of test questions. Accept that most of the people you will met here are keen amateurs with very little understanding of what they are doing. Find your national Society of Technical Analysts and join. They should run a Diploma Course. Take it and pass. I hope this helps. Phil Hackett MSTA __________________ Homer