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http://singstocks.com/forum/showthread.php?145-Trading-For-A-Living-%28Triple-Screen-System%29-Alexander-Elder/page10
I have decided to try the us mkts.
Have been reading up on livermore, covel (trend following...) ....funny thing is...the traders all say there is no such things as too expensive...buy high n sell low...damn...this is so anti triple screen man....:)
....of the major US indices...S& P500, whilshere 5000, NasComp, NYSE Comp, Russell 2000, only russell have not gapped up (daily chart) so I am just assuming this is a more valueable index...
My S/R line is 800, it broke up few days back...looks like a secured trampoline line...for now...so I have decided to jump in too...hope the net dun give way...
http://singstocks.com/forum/showthread.php?145-Trading-For-A-Living-%28Triple-Screen-System%29-Alexander-Elder&p=5146&viewfull=1#post5146
This is my take on STI.
If it needs to go down, let it bounce from 3146-3150 region, there got many instances of reversal point. Like a popular u-turn junction, but once it goes past it with volume n inertia/momentum, then next check point should be 3120 area.
For now, its impulse blue on weekly chart, adx tick down, not very promising. So, seriously consider taking profits if any, tighten ur stops/trailing stops, and only enter if u r damn confident. Probably should limit risk to 1% or less, later if swing up, can top up again...there are many boats n buses around, dun fear missing them. Instead, have greater fear on losing money.
Daily chart is just depressing man. So let it be, dun fight the market, we are followers of the market n trend, we dun dictate how it should behave...
i think 0.3 is a good support, based on daily candle chart. hoping to get in and that this counter be one of the leaders next week :)
lorong8 ( Date: 23-Jan-2011 11:55) Posted:
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http://singstocks.com/forum/showthread.php?145-Trading-For-A-Living-%28Triple-Screen-System%29-Alexander-Elder
Hi fellow traders, do you have trading technique or system which you follow consistently?
This article, brilliantly summing up the triple screen system in it's original form 1st published in the book Trading for a Living - Alexander Elder
http://www.investopedia.com/articles/trading/03/040903.asp
The system had been updated in Come Into My Trading Room (and further discussed in practice in his next 2 books, Entries & Exits and Sell & Sell Short
All are good books for you to finally spot the trades yourselves and stop...erm...depending on others for ...er...tips 
If you have read much into charting...you will definitely come across this very consistent pattern called "flag" pattern play...read into it too...its very close to the triple screen system
