Anyway by now I am a longterm investor and not a trader. I am too old to trade though I keep records.
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104 Technical trading experiments by HUNTER
yellow knife- Top contributor
- Posts : 6980
Join date : 2014-03-27
Anyway by now I am a longterm investor and not a trader. I am too old to trade though I keep records.
HUNTER- Top contributor
- Posts : 1935
Join date : 2014-07-14
Thank YK, for being the volunteer.
As the market is expected to take a fresh direction starting from next week, let's plan to take our first trade there.
So we need to quickly decide on the trading 'set up'.
Please contribute with your suggestion if you have.
--------------
I am thinking of following a customized strategy based on; Elliott waves.
https://www.investopedia.com/terms/e/elliottwavetheory.asp
In order to validate and improve the signals given by Elliott waves, I would like to combine it with some other parameter.
(Any guesses you like to make?)
LSE- Tech Contributor
- Posts : 1321
Join date : 2014-06-04
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HUNTER wrote:Wonderful!
Thank YK, for being the volunteer.
As the market is expected to take a fresh direction starting from next week, let's plan to take our first trade there.
So we need to quickly decide on the trading 'set up'.
Please contribute with your suggestion if you have.
--------------
I am thinking of following a customized strategy based on; Elliott waves.
https://www.investopedia.com/terms/e/elliottwavetheory.asp
In order to validate and improve the signals given by Elliott waves, I would like to combine it with some other parameter.
(Any guesses you like to make?)
HUNTER- Top contributor
- Posts : 1935
Join date : 2014-07-14
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I am also thinking of using Pivot points / support resistant levels to define the SL and TP targets.
In addition to that, I am thinking of a signal outside the price movement to confirm the signal.
Will talk about that in coming days.
Topcat- Posts : 117
Join date : 2019-07-25
HUNTER- Top contributor
- Posts : 1935
Join date : 2014-07-14
Topcat wrote:I have read about darvas box therory. But I dont know how to use it.. Hunter can we use it here?
Certainly, what I am thinking is, in a way, very similar. It might work very well in bullish market conditions.
HUNTER- Top contributor
- Posts : 1935
Join date : 2014-07-14
- Post n°32
Trade Set up
Primary indicator - price pattern in line with an Elliott wave expecting to compete the 5 wave pattern.
Validation of the strength of the movement - by contrasting high volume.
In summary: we will look for the initial stage of the Elliott wave formation with high volume of trades.
Illustration of an Example:
Following is the theoretical Elliott wave formation pattern.
![104 Technical trading experiments by HUNTER - Page 2 2019-110](https://i.servimg.com/u/f20/16/67/25/58/2019-110.png)
To explain this in a real world situation, I will take recent chart of AEL.N.
Following is the AEL.N one year chart.
![104 Technical trading experiments by HUNTER - Page 2 2019-111](https://i.servimg.com/u/f20/16/67/25/58/2019-111.png)
When the Elliott wave is imposed on AEL chart, it would look something like the following.
![104 Technical trading experiments by HUNTER - Page 2 2019-112](https://i.servimg.com/u/f20/16/67/25/58/2019-112.png)
When the momentum is confirmed by high volume, it would look like the below.
(Posted below as it seems no more pics allowed in this post)
In this set up:
Entry level is around 15/-
SL - 13/-
TP near 20/-
So the expected profit would be above 30%
Risking about 15%
--------------------
Anyone already traded this...?
HUNTER- Top contributor
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Topcat- Posts : 117
Join date : 2019-07-25
One more suggestion. Looking at this I think its better to have a trailling stop loss.. Can we do that?
HUNTER- Top contributor
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Topcat wrote:Very interesting Hunter.. So we buy at the begining of 3rd wave if volume indicator confirm it and sell after the 5th waves completed?
One more suggestion. Looking at this I think its better to have a trailling stop loss.. Can we do that?
Thanks for your interest.
* There is no hard and fast rule for buying or selling; but if you're new to trading, good to follow strict rules until you become 'instinctively' confident of your actions.
It is like....; when you drive in a highway at 100 kmph, you 'instinctively' know when to start turning in a bend, when to slow down, when to accelerate when overtaking etc.
But if you're still learning to drive, you better drive slow under strict rules.
* In my view, trailing SL is good for experienced traders; if you're a novice, have strict levels define at the beginning of the trade (don't change anything on the way).
* Yes, as you said, buy at the start of wave-3; TP at the top of Wave-5; SL at the bottom of Wave-2.
HUNTER- Top contributor
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However, in this experiment, we will stick to pre defined strict rules.
Topcat- Posts : 117
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nuwanmja- Posts : 87
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Age : 33
Location : Gampaha
HUNTER- Top contributor
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If so, let's take our first trade in coming days.
Backstage- Top contributor
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HUNTER- Top contributor
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HUNTER- Top contributor
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Join date : 2014-07-14
I see the possibility of trade set-up formation in following shares within next few days.
Do you have any preference, which one we should take this week?
1 AEL.N0000 Access Engineering PLC
2 CITW.N0000 Waskaduwa Beach Resort PLC
3 SIRA.N0000 Sierra Cables PLC
4 KZOO.N0000 Kalamazoo Systems PLC
5 CLND.N0000 Colombo Land & Development Company PLC
6 PARQ.N0000 Swisstek (Ceylon) PLC
7 GHLL.N0000 Galadari Hotels (Lanka) PLC
LSE- Tech Contributor
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Join date : 2014-06-04
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HUNTER wrote:OK, let's get down to water now!
I see the possibility of trade set-up formation in following shares within next few days.
Do you have any preference, which one we should take this week?
1 AEL.N0000 Access Engineering PLC
2 CITW.N0000 Waskaduwa Beach Resort PLC
3 SIRA.N0000 Sierra Cables PLC
4 KZOO.N0000 Kalamazoo Systems PLC
5 CLND.N0000 Colombo Land & Development Company PLC
6 PARQ.N0000 Swisstek (Ceylon) PLC
7 GHLL.N0000 Galadari Hotels (Lanka) PLC
HUNTER- Top contributor
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WRRKUMARA- Posts : 90
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Ex:-
Their Portfolio Having CHL 400 000 HAYL 330,000
Onal is also it's associate company
කිත්සිරි ද සිල්වා- Top contributor
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LSE- Tech Contributor
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Join date : 2014-06-04
Thank you very much for your quick response. This is great. Your target is intercept with my predicted benchmark values for AEL... This is the beauty of TA...
![cheers](https://2img.net/i/fa/i/smiles/icon_cheers.png)
![alien](https://2img.net/i/fa/i/smiles/alien.png)
https://forum.lankaninvestor.com/t11478p50-ael-n0000#102757
Backstage- Top contributor
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ruwan326- Posts : 1744
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I'll join next week pick
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Topcat- Posts : 117
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