I got the following from this page : http://bigpicture.typepad.com/comments/files/turtlerules.pdf
A complete trading system covers each of the decisions required for successful trading
1. markets - what to buy or sell
2. Position size - how much to buy
3. Entries - when to buy or sell
4.Stops - when to get out of a losing position
5.Exits - when to get out of a winning position
6. Tactics - How to buy or sell
Choose your markets and trade them consistently
When you are trading markets that are dollar denominated - make sure you understand what the dollar is doing - strengthening or weakening.
Volatility - 20 day exponential moving average (ATR)
Compute the True Daily Range
True Range = Maximum ( H-L, H-PDC, PDC-L)
H - Current Day High
L - Current Day Low
PDC - Previous Day's Close
N=(19xPDN+TDR)
----------------
20
PDN - Previous Day's N
TR - Current Day's True Range
Dollar Volatility Adjustment
Dollar Volatility = N x Dollars per Point
22 day - trade up if it exceeds the highest point - sell if it exceeds the lowest point. exit if there isn't a profit after 10 days. or if it is 2 N down
55 day break out - you skip if the prior trade had been a winner on the same scale
The best traders followed the rules. Those who didn't were dropped.
Traders
No trade can incur more than a two percent risk. Place your stops on a percentage risk basis and then move them up accordingly.
Exit - 10 day low for long positions, 10 day high for short positions
Exit 2 - 20 day low for long positions - 20 day high for short positions.
buy strength sell weakness
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