Hello everyone, I already posted this on the trading community
blog earlier today, the BPGDM will be closing below both the
8 and 5 day SMA's, which triggers a short position for BPGDM
system. The BPGDM has been above the MA's for a long time in
an uptrend from late July with a very large winning trade,
therefore odds favor this trade either being a whipsaw or a minor
winner. As always trade it how you see fit, this is simply
for informational purposes.
I've attached the BPGDM chart, however remember that this chart
will NOT update until 2 hrs after the close.
Here's a
dynamic chart URLif you wish to see an update version this evening.
Posted by darnelds on 26th of Sep 2012 at 03:28 pm
Matt, Have you ever backtested results when both GDX renko
and BPGDM give a signal? That is, don't take a trade if only
one method gives a signal. Sorry if you already discussed
this. I could not find it via search.
I have often wondered about this also. It seems to me that 2
similar signals from separate systems is better than 1. I wonder
why Matt hasn't responded?
trade them how you see fit, the BPGDM system uses a bullish %
chart which is useful in itself, the GDX Renko is Renko totally
different.
we present these for information purposes and clearly one could
use the other at times AND other things like entry day charts or
indicators to verify a trade or skip or delay a trade
for example the BPGDM, when it hit 7% in July, that was
screaming oversold, I was going to add a rule to ignore the 13.5%
target when it get's that ovessold or only take 1/2 profits.
I trade the systems but I vary from the trades quite a bit,
sometimes I don't do the trades, sometimes I sell early. we
present these as guidelines
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
BPGDM GDX system
Posted by matt on 26th of Sep 2012 at 02:53 pm
Hello everyone, I already posted this on the trading community blog earlier today, the BPGDM will be closing below both the 8 and 5 day SMA's, which triggers a short position for BPGDM system. The BPGDM has been above the MA's for a long time in an uptrend from late July with a very large winning trade, therefore odds favor this trade either being a whipsaw or a minor winner. As always trade it how you see fit, this is simply for informational purposes.
I've attached the BPGDM chart, however remember that this chart will NOT update until 2 hrs after the close.
Here's a dynamic chart URL if you wish to see an update version this evening.
Also here's a link to the Section on the website for the system:
Matt, Have you ever backtested
Posted by darnelds on 26th of Sep 2012 at 03:28 pm
Matt, Have you ever backtested results when both GDX renko and BPGDM give a signal? That is, don't take a trade if only one method gives a signal. Sorry if you already discussed this. I could not find it via search.
.
Posted by royal flush on 27th of Sep 2012 at 11:42 am
I have often wondered about this also. It seems to me that 2 similar signals from separate systems is better than 1. I wonder why Matt hasn't responded?
trade them how you see
Posted by matt on 27th of Sep 2012 at 11:50 am
trade them how you see fit, the BPGDM system uses a bullish % chart which is useful in itself, the GDX Renko is Renko totally different.
we present these for information purposes and clearly one could use the other at times AND other things like entry day charts or indicators to verify a trade or skip or delay a trade
for example the BPGDM, when it hit 7% in July, that was screaming oversold, I was going to add a rule to ignore the 13.5% target when it get's that ovessold or only take 1/2 profits. I trade the systems but I vary from the trades quite a bit, sometimes I don't do the trades, sometimes I sell early. we present these as guidelines