Taylor Trading Technique Dec 2007

[Taylor Trading Technique Dec 2007]

hi:) ...where can i found or download the indicator meta4 that are in your set up grafhic of taylor tecnique?...exeuse fro ma bad english i'm italina...thank you for help

[Taylor Trading Technique Dec 2007]

This being the 3rd month of this thread, thought I would try to generate some systematic rules. I will try to 'score' the quality of the Taylor set-up.

 

Taylor is really just a method to try to seek good 'location' for a trade. This is similar to Market Profile in a lot of respects. Pg 88 of 'Markets In Profile' (Jim Daltons excellent book) could just as easily be applied to George Taylors method:

 

"Remember the subtlety in what we do: we don't forecast, we assess the risk of our positions. We seek to... establish positions that provide favorable risk/reward characteristics."

 

I have used 4 primary rules to try to do something Taylor-like.

 

1. What is the 'high to low'/'low to high' pattern of the preceeding 2-4 days

2. Is there a HV or LV (Violoation of previous day high/violation of previous day low)

3. What is the 'location' of price relative to the 15-min 20-period Exponential Moving Average

4. What are key support resistance prices from previous days (highs/lows and PVP's)

 

Finally, there is one thing that is kind of subjective that you have to watch:

 

Is the market trending strongly off opening price? (called 'Open-Drive' in Market Profile).

 

Todays Taylor Set-Up:

1. There were 2 days that traded 'High to Low'

2. We had a 'Low Violation'

3. We were trading FAR below the 15-min 20-ema

4. We had key support in 1461 area and price traded into 1462.50 this morning.

 

*We did not have 'open-drive' -- strong trending action off opening price...

 

Thus, we had an excellent 'Taylor BUY Set-Up.' This can also be interpreted as:

'The risk of being short was high due to bad location'

'The reward vs risk for being long was good'

 

 

hi..exeuse me..where i can found or download this indicator for meta4 ? ,m is bad englisch i'm italina...thank you