A classic five men and an elephant comment suggesting the existence of the holy
grail. Proper execution of either S&R or momentum or in combination with good
money management will produce equivalent results for either mechanical or
discretionary trading. Improper execution also produces equivalent results at
the other end of the spectrum. There is no single road that is right for all
traders in all time frames with temperaments that range from hyper to comatose
and risk tolerance that is all over the map. The right road is very trader
specific and definitely not a simplistic one size fits all situation.
Bill
----- Original Message -----
From: scourt2000
To: amibroker@yahoogroups.com
Sent: Wednesday, May 07, 2008 10:50 PM
Subject: [amibroker] Re: Jake Bernstein Momentum formula
Anthony,
Do yourself a big favor. Don't waste your precious time on this
earth with this kind of drivel. Chasing price with momentum
indicators is not going to get you where you want to be.
Coming up with a support/resistance system is all you need to make
whatever you want from the markets.
I've seen hundreds of traders get wiped out trying to go on the path
you're following and all of the successful traders I've been around
in the e-mini futures have used S/R as the foundation of their
trading methodology.
And, above all, embrace your emotions in trading because they teach
you what you should and shouldn't do going forward. Computers learn
nothing while you learn from every win and loss you make.
Finding an edge in trading is easy. It's only hard if you're using a
computer to find a needle in a haystack because you didn't make a
good enough investment in real-time observations of the markets while
researching an edge you'd like to trade.. That makes all the
difference in the world for knowing what works and what doesn't.
You'll come up with 10 edges to trade if you put the time in to
experience a live market on a regular basis without trying so hard.
It will bring out your imagination and creativity to find what you're
looking for.
I wish someone had told me that 4.5 years ago when I started trading
the ER2 e-mini. It would have saved me a lot of time chasing
nonsense.
--- In amibroker@yahoogroups.com, "ihsaham" <[EMAIL PROTECTED]> wrote:
>
> Hai Tomasz,
>
> This is simple Jake Bernstein Momentum Formula for chart and
scanner.
> Please help me give arrow buy and sell. Buy arrow is Green colour
and
> Sell Arrow is Red Colour.
>
> I really appreciate and thanks for you in advance.
>
> Best Regards,
> Anthony Idic
>
>
>
> _SECTION_BEGIN(" $ Momentum ");
>
>
> /* Bernstein Momentum Indicator */
> /* Set Scaling to Automatic, Show dates On, Percent On, Middle On */
>
> Title = "Bernstein MOM Close - Ref(Close,-7)";
> GraphXSpace = 5;
> Graph0 = MA(Close - Ref(Close,-7),1);
> Graph0Style = 5;
> Graph0Color = 29;
> Graph1 = MA(Graph0,5);
> Graph1Style = 1;
> Graph1Color = 32;
>
>
> DaysAgo =Optimize("DaysAgo",-28,-40,-16,4);
> Fast = Optimize("Fast", 1, 1,5,1);
> Slow = Optimize("Slow",28,16,40,4);
> /* Note: It is merely a coincidence that DaysAgo and Slow use the
> same parameter set. */
>
> Buy = Cross( MA(Close - Ref(Close,DaysAgo),Fast),
> MA(Close - Ref(Close,DaysAgo),Slow) );
>
> Sell = Cross( MA(Close - Ref(Close,DaysAgo),Slow),
> MA(Close - Ref(Close,DaysAgo),Fast) );
>
>
> Short = Cross( MA(Close - Ref(Close,DaysAgo),Slow),
> MA(Close - Ref(Close,DaysAgo),Fast) );
>
> Cover = Cross( MA(Close - Ref(Close,DaysAgo),Fast),
> MA(Close - Ref(Close,DaysAgo),Slow) );
> _SECTION_END();
>
------------------------------------
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