[bobcollett]

Originally Posted by Gann Trader »

How long have you been using TTT method

Hi Gann Trader,
I dont use TTT
If you go back and read post 342 , you will see why.
But I follow elovemer. His calls follow my South African market quite accurately.
Unfortunately his answers are usually one liners wth some "under tone", so I have given up on questions.
My market is influenced by commodity prices, the R/$ exchange rate and the euro and I look to these factors for an edge/ daily expectation. Fundamental.
Friday my market fell till near the close then started to recover.(with some volume) . Monday is a buy day.MAYBE.
It could also gap because Greece expects to conclude a debt relief program fairly soon.
I wonder why elovemer expects a gap.
I wont ask
All the above does'nt mean you must stop your efforts.
Enjoy the journey
Kind regards
bobc

PS Read Eddie Toppel on the way
He might just change your thinking on predictions

[elovemer]

....i don't remember you ever having asked any questions.
but you sure are annoying.

Originally Posted by bobcollett »

Hi Gann Trader,
Unfortunately his answers are usually one liners wth some "under tone", so I have given up on questions.

[Nirgelep]

Hi everyone.

I am new to TTT. I’ve been studying Taylor’s book for several weeks and I have a few doubts.

The thing is that I am trying to apply Taylor’s technique to the Forex market, and there is where my doubts arise. Forex is a 24-hours continuous market, and so are nowadays other futures markets like the S&P 500 Emini, even though there are hours of maximum trading and other with almost no volume.

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)?

I guess most people on this forum are trading the S&P 500, but the same problem arises in that market, since that is also now a 24 hours market. I would appreciate that somebody explains if he uses the opening and closing times of USA east coast, or if on the contrary, he trades it as a full 24 hours continuous market.

If I should consider the market as a 24 hours one, then there is still another problem. The timing my broker provides is the GMT, but the opening of the Forex market happens on Sunday at 10 p.m. GMT (5 or 6 p.m. EST), since that is the time when the market starts in Asia. This means that the market in fact has 6 trading days, and that for London there are 2 trading hours on Sunday, and 8 trading hours on Sunday for USA. I such a case, should Sunday be considered as a trading day or could we just include the movements on Sunday as part of the OHLC on Monday?

I want to apologize for my English as well, it’s not my mother language.

Thanks,

Nirgelep.

[SILVER]

Originally Posted by Nirgelep »

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.

[Nirgelep]

Thanks, Silver, it makes sense.

[BlueHorseshoe]

Originally Posted by SILVER »

I build my book

Are you managing a desk at Goldman or something? If not, then the above phrase sounds just a tad pretentious . . .

[SILVER]

Originally Posted by BlueHorseshoe »

Are you managing a desk at Goldman or something? If not, then the above phrase sounds just a tad pretentious . . .

What wording would you have chosen comrade word check?

[Baker]

ive been thinking about buying taylors book but ive seen a lot of bad reviews on amazon. i havent traded and im just learning, so i dont know much about the markets, but i was wondering if buying his book now is worth it, or if i should buy it after i start trading for a bit.