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Day Trading with TTT and other tools


Welcome to this new thread, where we can share trading ideas and our thoughts on the Taylor Trading Technique.

Anyone with questions on TTT, this is the place.
DAX didnt make new lows but ES and TF did

I would be surprised if they make it back to BDL as the distance was too far.

you all have a great weekend
Originally posted by Durendal

Wow Rigel. It really doesn't matter if the markets follow the Taylor sequence or not, you always have a positive "get it on" attitude.

Something to strive for, at least for me. Way to go.


Actually it is not that the markets are not following Taylor sequence, it is just there are ideal taylor cycles and non-ideal cycles. In his book Taylor explains all this but on the Taylor thread at Trader's Lab, WHY? has provided excellent explanations on this based on the book.
It is about positioning one's self on days when at the open it does notpan out strictly as per the BUY, Sell or SS day.

Today both on Dax and Ftse, the market stalled on rallies right at the daily pivots plus news from the Eurozone was bad.
Taylor's calculations involve 3DR plus penetration level and violation level.
Both the markets hit the low projected levels before reversing once again providing ideal longs on US open. Infact the prices have shot up nearly 100pts on both.
Chapter 10 "Failure to Penetrate" in Taylor's book should shed more light on scenarios with strong downtrends
Durendal,

quote from Chapter 10

"The failures to penetrate Buying or Selling Objectives are not exceptions to our method of trading, for a little study of the past movements of stocks and commodity futures will reveal that this action takes place approximately 40% of the time on an average, at either of these points, therefore, this movement is a very definite part of the method as a whole.
The failures to penetrate the tops are usually found in the Downtrend Areas and when the trend is changing at the top and in most cases are forecast by weak or ‘flat’ closings on the Buying, Selling and Short Sale Days. At the bottoms, rallies before the close that hold, forecast up-openings and failures to go lower

Taylor caters for every possible scenario:

When a stock makes a high FIRST on a Selling Day with a penetration of the Buying Day High, then reacts and is selling nearer the low of the day at the close, the indications are for a lower opening on the Short Sale Day. Should the lower opening occur, after the decline the stock or future will make an attempt to rally, in most cases, and this rally will penetrate the—High of Selling Day—if the immediate trend is higher, however, should the rally fail to reach this Objective and at the top of this rally the activity dies out and the trading narrows down to a few transactions at about the same price, then begins to ‘sell off’, we would ‘put out’ a short sale on this declining trend and J-U-S-T as it starts.
At times the open will be down—on a Short Sale Day—and will continue down without any rally and not give you a chance for a trade. Should this kind of action take place, there isn’t a thing you can do that would favor your play, except let it alone
Well said Rigel
Originally posted by Richbois

Well said Rigel


Thanks Rich,

Monday 24th Buy Day, Classic short on High made first.

I know you started a thread on Taylor at TL but the input has petered out. Infact it was precisely such short scenario on a BUY day that led to the initial cynical response from Brownsfan although then admitted he had never studied taylor:))

Just goes to show, not many are willing to slog through and make the required effort to dig into the subject matter just because it is a difficult read.
Infact there is a paucity of threads on websites like TL, Elite on Taylor but no lack of them on every other method or indicators.

Looks like you and WHY? belong to a rare species of those who have figured our the right way of applying the method.

Both Linda and Angell fiddle around with it to simplify it and then totally mess it up:)))))

Here is another chap :
http://www.youtube.com/watch?v=Dwt3DxxE0gs&feature=related
At least this guy does not actually twig the cycles.

Introduction of Volume aspect is certainly very helpful, infact many of the price action descriptions in Taylor's book reflect his indepth understanding of importance of vol. and it would not be surprising if he infact had embraced Wyckoff's principles and had sound understanding of what Wyckoff was talking about.

WHY? also was trying to incorporate VSA concepts, although VSA guys just regurgitated what Wyckoff outlined but VSA was more filled with jargon and marketed at exorbitant prices and still is. Traders like this, the more expensive the product, the more they think it holds some secret:))))

Wyckoff was kept as a well guarded secret for a very long time, so that way VSA guys have done a service by bringing it to the public domain.

And looks like you have the done the same on Taylor.There are not many out there conversant with Taylors work or those who actually understand are keeping their mouth shut realisation the power of the technique.
Cheers Rigel. Obviously I must read and re-read more.
my decline objectives were 1068 on ESmini, the market turned around at ~1070

on Dax 5752 and ftse 4990, once again both markets reversed from near those zones.
I hope all you TTT traders had a good 2014 and I wish you all a better 2015
Richard