Taylor Trading

[elovemer 10]

exploring the wonders of the Taylor trading methods

[elovemer 10]

monday is buy day

 

however friday was a long below previous low

 

monday could be a long below friday low

[elovemer 10]

done...... ten points below prev low

 

monday is buy day

however friday was a long below previous low

monday could be a long below friday low

[elovemer 10]

no action on sell day unless to close out longs from buy day

 

wednesday ... short sell day .... short on a high made first above tuesday high

 

or a long scalp on a low made first below tuesday

[elovemer 10]

on short sell day .... go short on a high made first above the prev high

 

however this is an up trend .... today is only the 2nd day up from the low

 

also.... has not yet reached prev high around 30

[elovemer 10]

for thursday ... buy day

 

don't see much of a chance. because SS day did not put a low in to be tested

 

buy day taylor rules calls for a long below SS day low on a low made first .... however it is risky with the gap below ... which could fill

[elovemer 10]

taylor says long below yesterday low .... as per this chart

 

 

however i would like a down day first ... or a low to be put in

.... that's a lot to ask for during a strong up trend

[elovemer 10]

taylor worked

 

for anyone who went long.... hold on because the high did not come the same day but it was not weak either

 

monday is short sell day

[elovemer 10]

after buy day entry .... if the trader can make it thru sell day without a pop up

 

chances are good the trader can sit thru another cycle at least

[elovemer 10]

on SS day .... no low was put in

so buy day tuesday...... the move will either be stolen to the upside

or a low below monday low .... is a strict taylor entry

 

without a low already put in .... it creates a trap for longs in case one of these gaps fills

 

in summary.... you are either already long, or you have to take a strict Taylor entry on a low made first

 

and a low made first is unlikely given the bull trend

[elovemer 10]

there it is .... low made first

below previous low

[elovemer 10]

taylor says take profit same day

[elovemer 10]

if buy day longs don't get stopped on sell day ...

 

then they may be able to hold until the next buy day

[elovemer 10]

thursday is sell day ....

friday is short sell day

 

short on a high made first above prev high

 

or

 

a long scalp on a low made first

[CYP 10]

Have you got your days wrong ? You had (same as me) tues as buy day (post 10) weds sell thurs short fri is buy.

Btw let me know if you prefer to be the only poster here.

 

I was thinking today (Fri) should be a buy day also...

 

Elovemer - thanks for your posts. I'm still learning TTT so every bit of info helps.

 

Regards,

 

CYP

[elovemer 10]

my mistake.

must have mixed the banana bong water with the avocado shake on accident this morning

: (

friday..... buy day

 

good call

TUESDAY BD ...... FRIDAY BD

thursday is sell day ....

friday is short sell day

short on a high made first above prev high

or

a long scalp on a low made first

[elovemer 10]

on friday ... buy day

Taylor would say long below prev day low

however i say prev day was not down .... so either wait for a down day ...

or

take a long below low of wednesday ... that is 2 lows back

-----------------------------------

 

if prev day was down.... could do a long below prev day low... as per my own rules

 

if the swing was down trending .... then the long would be ten points below the prev day low

Edited February 10, 2012 by elovemer

[elovemer 10]

the more posters ..... the better

nobody is right and nobody is wrong

every body has their own techniques and style

 

i am not trading strict taylor rules as i have explained previously

and i am not using a book for my estimations.... but 10 points instead

10 or 20 points... either or.... not a range

[elovemer 10]

the tricky part of taylor method is .....

today is friday

 

you have a long below wednesday low....

however it is 12 noon and price is still sitting around below that low

 

in other words.... taylor method TAKES SOME FAITH !!!

 

a low made first can be a gap down open .... so basically a long from the opening price according to taylor

 

target is previous highs....

if it comes same day then take profit

if it doesn't.... then it depends on where it closes .... near the day's high or low

[elovemer 10]

if the previous day is up ..... SS day

 

the reason why i want a down day first before a buy point is because it means .... MORE PEOPLE ARE WRONG

 

if more people are wrong, then it increases your chances to go against the herd

[elovemer 10]

for people who are just getting into taylor.....

download his book for free

 

there are a couple of pages at the end where he is doing a journal of trades taken

 

forget about the book itself..... just read these few pages .... a few hundred times.... then compare to a couple of weeks in your chosen market

 

and try to make similar notes of your own ... for your chosen market

 

i think this is a better way to understand what he is doing than trying to make a lot of sense out of his writing

[elovemer 10]

....some jack asses say that taylor's methods are out dated and that they don't work in today's market

....i say those jack asses are jack asses....

 

if it doesn't work for you .... then take the few tid bits that do work and use them

[elovemer 10]

monday .... sell day .....

close out longs and get long again if desired.

[elovemer 10]

i am always bullish on tuesday and thursday .....

in this case ... tuesday will be a SS day ....

short scalp on a high made first of at least 10 points

.... or a long on a low made first of at least 10 points

 

below ... the low of sell day monday .... is unlikely .... because of up trend

 

probably will gap up as usual .... and possibly a pull back for a long entry ... if lucky

if the gap is large enough .... probably very little if any pullback

 

friday buy day was the swing entry ... to hold

but how many retail traders are willing to take that entry and hold over the weekend ?

[Gann Trader 10]

monday .... sell day .....

close out longs and get long again if desired.

Just curious about your cycle days, you have monday as a sell day, I have monday as a short sell day, so I went short today above last Fridays high of 1348. How long ago did you begin your cycle count and are you market specific