what I suggest for anyone thinking about trading SPX based on
the PMO or BPSPX charts, spend a weekend and go back 5 - 10 years,
look at every year, go over every single signal from the past 5 -
10 years, put them down in a spreadsheet. Get a handle for how the
trades do, and the whipsaws. Then you can get a better idea of how
they behave, and will help you come up with filters, rules, other
things. You won't get a good feel for them unless you do the
busy work like this.
and regarding Bullish Percent charts, remember they are going to
be slow to respond at times because of their nature, that's why
it's best to also reference a normal candlestick chart IMO
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what I suggest for anyone
On BPSPX Renko chart, how do you respond to a ...
Posted by matt on 17th of Sep 2019 at 11:34 am
what I suggest for anyone thinking about trading SPX based on the PMO or BPSPX charts, spend a weekend and go back 5 - 10 years, look at every year, go over every single signal from the past 5 - 10 years, put them down in a spreadsheet. Get a handle for how the trades do, and the whipsaws. Then you can get a better idea of how they behave, and will help you come up with filters, rules, other things. You won't get a good feel for them unless you do the busy work like this.
and regarding Bullish Percent charts, remember they are going to be slow to respond at times because of their nature, that's why it's best to also reference a normal candlestick chart IMO