Summary

  • The fractal nature of the MIDAS system means that it is capable of being turned into a robust standalone day trading system, provided it is combined with a charting style such as Japanese candlesticks that can generate consistent trade-management principles.
  • The development of a straightforward standalone system of the type outlined in this chapter must be a careful product of desired trend length, displacement size, and chart timeframe. All three dictate to the size of moves off the MIDAS S/R curves and associated stop-loss ranges. Table 3.1 summarizes these relationships.
  • In addition, the chart timeframe determines fairly precisely the number of trading signals that can be expected each day. Ultimately all of these factors are subordinate ...

Get MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today's Markets now with the O’Reilly learning platform.

O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.

Start your free trial