Taylor Trading Technique

[Taylor Trading Technique]

Hi everyone.

 

 

 

Quoting Taylor (page 15): “the market is considered as a series of continuous sessions without a break”. In his days the market had fixed opening and closing times and therefore there were frequently gaps, while today those gaps are almost non existent, besides Mondays (or Sundays) after the weekend.

 

I would like to know how you should deal with this issue. Should I consider the day trading sessions as a 24 hours one, or should I build up my book just considering the opening and closing times of the market I am trading in (in this case de London Forex market, openenig at 8 a.m. and closing at 17 p.m. GMT)?

 

 

Nirgelep.

 

I build my book around EOD data,so in your case I would concentrate on the times of your London market,however,IMO the key basically is to keep recording a series,so it should as well be possible to work with a 24hrs market,given open and close are derived from the same market.Once chosen you have to continue with that time-frame.

[Taylor Trading Technique]

E,

thanks again for explaining your method.I keep a book and pretty much use his 3day method,and speaking of what if one had a chance talking to him in person,yes,there would be some questions to ask.....

 

 

@Gann

Taylor´s book was the most difficult book to read for me-ever,though I am not a native speaker I am used to quality textbooks from Pearsons et al,well Taylor had me write down every single thought of his to work through the book.And just as a hint for the beginning,when there is "." and he continues in small letters I believe it should be a "," that helped me a lot reading it faster.However,this book needs multiple reads and each will thrive understanding a bit further IMO

[Taylor Trading Technique]

i am not sure if you are addressing me or not.

as for me ... i have wednesday as buy day

however my buy point came on tuesday ....

for me ... another buy point would have been created wednesday on a push below the low of tuesday

 

my method is not strict Taylor method...

strict Taylor method would call for a long on buy day wednesday on a low made first

 

strict Taylor method also... i believe does not require that the low on buy day be below the low of sell day ...... though preferable

 

Yes I was adressing you,sorry if that was unclear....thanks,as I understand, you are not into objectives a la Taylor or you call it differently. As far as I understand Taylor,he does leave it open whether the BD Objective is penetrated or not,you just buy a higher bottom then in his words.

[Taylor Trading Technique]

When you say buy point day,is this then the BD-Objective? I am on a different count,today I have SD but already got a BDV

[Taylor Trading Technique]

Great thread! Thanks a lot for keeping alive.....I

[Taking the Blinders Off the Trading Mind]

The initial text gives an interesting reading.Maybe if it was written in lay-men jargon one would find more bits and pieces interesting.What I find difficult to understand is the part that describes "reality" as indivitual reality,that sounds somewhat like when measuring in science the observed phenomenon is changed by that very measuring process itself and can therefore not be measured neutrally. If this was used as a guideline we still had no idea about things going on around us.On another note,I dont see fear as much as a negative as I do with hesitation.Fear to me is a sign that I am on the wrong side of the market as is hope.