richbois

I am probably to only Pure TTT guy out there. After 10 years of doing Taylor i still dont beleive in changing the cycles when it dont suit you. Exact Entries and Exit are not really part of the Taylor method. This method gives you guide lines. My system has improved over the years and added Ranges and Standard Deviations to the basic method. Taylor used daily date to calculate his ranges and targets for the next day. Believe it of not it still works after 70 years. The intraday data is used for entry and exit . Yes it is not evident but that comes with experience. I find that trading stocks with TTT is very hard, Futures are easier. I guess you could use Future levels to trade CFD's but i havent tried thatInsert other media Richard TaylortradingTechnique.com

you are right nothing to do with TTT

the book is excellent but very hard to read the method is as good today as it was in 1948

In the EBook that has Crude Oil, Nat Gaz, Gasoline , Heating Oil, Gold, Silver and Copper, I use 24 Hour data. The only Futures that I compile both 24hr and Day session is for the Index Futures. Rich@taylortradingtechnique.net

first I must say that i dont you the MTP software the way they teach. I use it for patern recognition and reversal bars. In this case you had the previous day low as the most important clue. that is a gold making clue. we had 2 ABC waves and if you took the 1st ABC as wave A and 2nd as C then wC = 227% of wA at 6254 area if you took last ABC waves C= 227% of A at that same area You also had the DP on 15 min just above so for me (that believe in TTT) PL "Previous Low" is key and worth at least a quicky trade (scalp) . I would have entered at 6256 area with a stop below 6253.50 In my trades i never trade 1 lot so with 2 lots i would take profit on the 1st lot at 2R and run the 2nd lot as long as i could using the ATR or something like that. It is funny you ask but I was talking with a customer at that time and discussing the same trade. I hope i explained it properly

Today on the DAX was a Buy day for me. We therefore needed a decline, DAX decline to the previous day low and failed to go lower, therefore establishing the Buy Day Low and a rally started. PH the previous day High capped the rally so far

Today on the DAX was a Buy day for me. We therefore needed a decline, DAX decline to the previous day low and failed to go lower, therefore establishing the Buy Day Low and a rally started. PH the previous day High capped the rally so far

re TVGR I have a section in the Guide to trading TTT that covers TVGR with some examples. This section came about after a long period of watching daily gap on the US indices. I included a PDF of that section of the book. I know it has nothing to do with TTT but i find it a usefull tool. re FDAX and TTT cycle. As Thales mentioned we can have a different cycle day for the same instrument and still need to trade it in the same manner. Mako had a SS day yesterday which made him look for shorts as the 3 day rally had culminated at the open. In my case I had Monday as a Buy day. DAX had closed on the highs Friday, we could therefore expect the momentum to take it higher before that decline would start. In this case it had a huge gap up and that gap was above the SS Day high. In my statistics this is a must short at the first sign of reversal. In this case using Thales 1,2,3 method (if I understand it properly) this opportunity came at 9AM at the end of the 1st hour when we broke the low of the 1st 3min outside bar. That break also eliminated TVGR. TVGR section of TTT Guide.pdf

For me it means that based on the action of the previous day together with the relation of where we close on that action, and knowing what day of the cycle we are in, it does give you a bias or heads up on what to exoect the comming day. Add the levels to that for additional ammunition. wow my english is starting to looks like Taylor's :rofl:

Great way to think and use TTT. By the Way i tried to make a book using weekly data and it symply didnt work.

Very interesting Question This is one that any of us TTT user would have to decide by ourself. Dont forget that back in Taylor's days, there was no ETF's, the markets were just plain and simple. There was no globex session to complicate life and most in the US would find out that a crises happened in other parts of the world just few days later. I am not even sure that there was futures on the Indices yes let alone the Spy or QQQQ. Futures were mainly on commodities and that is a big part of what he was trading. Only pit hours. He also traded stocks and again that was only during pit hours no extended session. I think he had it simpler than us but his system still works today. To come back to your question, in my case since I found that the Positive 3 Day Ratio is a very important factor in establishing the cycle, I would use that to decide the cycle for SH or PSG. In my trading books I have cash and Futures for FX. Euro for instance is on a different cycle and most would say that is impossible. But I have customers that use that to there advantage. Either way as long as you trade what you see and follow the TTT rules it could be on the wrong cycle and you would probably to well. Reason is that most of us trade differently than Taylor. We are intraday Daytraders . Have a great weekend

What is nice of using TTT is not only the bias, which will give you more confidence in that trade , but also the levels that are provided in the report. There is more than just the TTT levels. So if you managed to enter a trade at or close to the extreme for the day, you have an idea of what an average day should provide. This way you may let it ride longer. Also if you entered a trade late, you know that after X points of profits you should be protecting that profit and even considering closing that trade.

I tried to do that in my Guide to trading TTT I need feed back on that so I can improve

Good question. What I have found about Taylor is that it is best used in conjonction with an other sysyem. For example If you use the simple 123 pattern, you will have a better chance of success if you are taking that trade in the direction that TTT is pointing that day, and even better if it happens at TTT levels. Reading the original Taylor's book from Chapter 5 to 15 a few time will make you understand how to trade on each day of the cycle. Once you undestand that for example, on a Buy day you should only be looking to long except in this or that exception, then you will look for the right trade that day. Having said that, it doesnt mean I never take a trade that is in the opposite direction, however if I do, it will be only with smaller position and tighter stops and I will take or protect profit sooner. The main purpose of TTT for me as a DAYTRADER, is to get a BIAS for the day, and Support and Resistance levels. These levels also help on the exit of the trade, because we know how far a normal move should take us, we can then either exit the trade or again protect the profits on that trade. I hope that helped

You answered your own question. Yes that is one of the few cases where a long on SS day may be considered. However these trades are a bit more risky since the instrument opened below the BDL and that is bearish. But my statistics show that it is worth taking the long as mos of the time they will at least make a college try to get back to BDL. As we can see yesterday OIL made it but barely. I personnaly didnt think it would make it all the way yesterday because of the large ground to cover, but hey they made it