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connorsrsi [2019/05/13 11:12]
cryptocoyn
connorsrsi [2019/05/13 11:13] (current)
cryptocoyn
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       * The long answer: ​ Day traders commonly use smaller time periods like the 5 minute and 15 minute charts to *stalk* intra-day golden cross breakouts as entries to trades. Stalking is when you use a longer term trade setup and look at that same trade setup on a shorter time frame to pick up quick moves (trade entries / exits), ​ in this case pullbacks (a result of Intraday Fear) which can happen quite quickly. Part of the reason they use smaller timeframes is they are trying to avoid falling knives (large pullbacks that happen extremely quickly). The Golden Cross (50/200) indicator is the most widely used indicator amongst hedge funds / institutional traders, in fact if you look at the finance news on TV most likely they will be showing a daily chart with the golden cross showing. ​ It is the best long term trend indicator you can use.       * The long answer: ​ Day traders commonly use smaller time periods like the 5 minute and 15 minute charts to *stalk* intra-day golden cross breakouts as entries to trades. Stalking is when you use a longer term trade setup and look at that same trade setup on a shorter time frame to pick up quick moves (trade entries / exits), ​ in this case pullbacks (a result of Intraday Fear) which can happen quite quickly. Part of the reason they use smaller timeframes is they are trying to avoid falling knives (large pullbacks that happen extremely quickly). The Golden Cross (50/200) indicator is the most widely used indicator amongst hedge funds / institutional traders, in fact if you look at the finance news on TV most likely they will be showing a daily chart with the golden cross showing. ​ It is the best long term trend indicator you can use.
   * The Connors 2RSI Day Trading strategy is a real-world trading strategy in use today by many traders. It is based on the rules in Larry Connors book and is my interpretation of his 9 rules and ProfitTrailers capabilities at the time it was created. ​ We are not able to completely replicate his strategy at present but we have a working strategy that is as close as possible right now.  ​   * The Connors 2RSI Day Trading strategy is a real-world trading strategy in use today by many traders. It is based on the rules in Larry Connors book and is my interpretation of his 9 rules and ProfitTrailers capabilities at the time it was created. ​ We are not able to completely replicate his strategy at present but we have a working strategy that is as close as possible right now.  ​
-  * As with all the example trading strategies we provide these are just a starting point to get you going and show what is possible with ProfitTrailer. ​ You are free to change the timing of the indicator ​to suit your trading style.+  * As with all the example trading strategies we provide these are just a starting point to get you going and show what is possible with ProfitTrailer. ​ You are free to change the timing of the indicators ​to suit your trading style.
   * Pending Order triggers are set negative to allow trading pairs to return to Pairs Log earlier when that trading pair is bought again. This provides capital to the bot to take bigger trades. So don't overextend on your initial purchase price. Start small and see the effect the pending log has on adding to your position sizes. ​   * Pending Order triggers are set negative to allow trading pairs to return to Pairs Log earlier when that trading pair is bought again. This provides capital to the bot to take bigger trades. So don't overextend on your initial purchase price. Start small and see the effect the pending log has on adding to your position sizes. ​
   * Use the [[default_settings#​PTTracker_DCA_Calculator|DCA calculator]] we provide to work these values out covering at least 4 levels of DCA for all your pairs. Once you have those values enter them into this strategy. The [[default_settings#​PTTracker_DCA_Calculator|DCA calculator]] also ensures you have a 50/50 split on your trading budget to ensure you have sufficient budget for the sell side of this strategy.   * Use the [[default_settings#​PTTracker_DCA_Calculator|DCA calculator]] we provide to work these values out covering at least 4 levels of DCA for all your pairs. Once you have those values enter them into this strategy. The [[default_settings#​PTTracker_DCA_Calculator|DCA calculator]] also ensures you have a 50/50 split on your trading budget to ensure you have sufficient budget for the sell side of this strategy.
  • connorsrsi.txt
  • Last modified: 8 days ago
  • by cryptocoyn