Here is something to test observe -only for people who have time available

#1
Hi friends
This post is only for traders who have time,are not busy and can do some helping work.(this means read it definitely)

Another thing- I need help of some doers with ideas .
(OTHER--please come back later to see results.)
I am doing my home work.will post later on once it completes.

Give me answers please!!!!!!!!!!!!!!
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TASK
simple afl code development.
objective
attack the market with trades which do not loose much,preserve capital

what is needed?

1.Look at a daily chart or hourly chart.(you can try eod or weekly charts if happy with this concept)
2.FIND two sets of swing high & swing low(not belong to current day)
a)find a significant swing high and significant swing low,the move being high to low,a down move,preferably in recent few days.
b) find a significant low and significant high,the move being from low to high,upmove.

3. now draw fib retracemnents for downmove.we need 23.8%,38.2%,50%,61.8% levels.
again,draw fib retracemets for upmove.
4.we are looking at high probability moves,short n sweet moves, from 23.8% to 50% in uptrend or down trend.
The move we target is 12% or 20% of retracement. we try t trade it with target and stoploss with reward risk of 1:1.

we need only piece of the move with certainty to a large extent.

5.if retracements are upwards,buy at 23.8% level,stoploss at 3.8% level, target at 50% level or 61.8% if market permits.our expectation is 0.20% move.
if retracement are down,short sell at 23.8%,stoploss at 3.8%,target buy at 50% level(or at 61.8%).
RISK max 0.20% of retracement.
reward equal to risk or bit more.
6.now We need an afl doing this task showing entry,stop,target levels.
7.our objective is not to predict anything,we like to just follow if market moves our way on upside or downside-ready for either side,with controlled limited risk and sametime aiming for limited reward.

8. how can you help me?
follow above rules post some charts and try to make an afl-
comment if you agree with this mechanism or not. give reasons why.
9.will it fail? of course yes-- stoploss protects you and use some extra rules to help-like a double bottom or tripple bottom-can have delayed upswing slowly.
If are a trader looking to help,please post doubts about rules I gave.

regards
ford


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QUOTE
Learn first-then test-find evidence & proof it works- then apply in trading.
Traders like trade first-loose first-finally try to learn things and quit halfway.
 
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