Circumstances had it that I eventually lost all my real estate, my income, my wife, ... you get the picture. I didn't have the funds to trade and had to take a long hiatus.
The teachings of jperl was always in the back of my mind and I knew that someday I would get back to trading with his techniques.
Fast forward 10 years to 2017. Crypto is going bonkers and I have a little cash. I am buying like crazy - everything. ZRP, BTC, ZRX, ETH, LTC, KIN, EOS, RDD you name it. I was a crypto BULL and was killing it!. My initial investment of approximately $4000 ballooned to just shy of 50k in about 3 months. And then 2018 started :-(
After watching 50k turn into $1500... I started thinking about jperl again (a little late). I spent most of 2018 playing with jperls techniques and making spending money. I started 2019 only trading BTC, EOS, and XRP. Eventually I narrowed it down to only BTC and now I am getting serious again about my trading.
While the basis of my ideas originate from jperls thread. I have taken his core concepts and customized it to fit my trading style. I decided to post here for selfish reason - to help ME commit to my trading plan. Maybe you can find this thread beneficial.
I use the following:
- Pivot Points
- TPO charts (must have POC)
- Kalman filter
- Trend Envelopes
The first three are for determining the trend and the last two for entry and confirmation.
If, like today, VWAP and price are below the daily Pivot (10330), I have a short bias and will look for interesting price points to get short. Add in yesterdays POC (point of control) (10560) and I am confirmed to have a short bias. The only way I change that bias is if price trades above the pivot and closes above the virgin POC.
More to come. In the meantime if you are interested in jperls techniques, google: Trading With Market Statistics by jperl