Which is why I want to show you this is a great trading system. The Elder Impulse trading system has been around a few years, developed by Alexander Elder. It uses special price bars which instantly tell you by their colour whether the market is bullish or bearish.
When I realized that these price bars were available on the Core Spreads platform, I thought I should tell you about them, and how to put them to some great use in your trading. You can open a live or demo account by clicking on the image below …. In my view, these are two really smart indicators. If these two factors are agreement — we get a signal.
Beginners jump into trades without thinking too much and take forever to get out, hoping and waiting for the market to turn their way. Elder recommends the current timeframe multiplied up by 5.
As I said earlier, this system is about getting out quickly. In theory, the Elder Impulse system can work on any timeframe, but longer timeframes will allow you to catch those nice big moves, and not get stung with costs on numerous small losses and breakeven trades. I look forward to hearing how you get on with it please leave your comments below ….
Financial spread bets are leveraged products, which means you could lose more than you deposit. You should ensure spread betting meets your investment objectives.
I would not have taken the first trade which failed because it was not the first green bar after the blue or red bars. I would only enter on the change of bar colour i. Hi Paul, sounds sensible — that way you should be able to get in after any pullbacks once the trend is established. Let me know how you get on.
Thanks for this Mark. I looked at this indicator a few months ago and thought there was something wrong with the display on the screen! Oh yeah, I love that idea because leaving trades to run for too long has cost me quite a bit of money over the last couple of years. Dave, Darin — look forward to hearing your progress.
I started the strategy yesterday and so far have made some profitable trades. I like the simplicity of the strategy and well defined buy and sell signals. I do like simple things, and this is right up my strasse. I funded Corespreads this morning, having left them some months ago.
Their original site was excellent but just seemed to be stuck in glue, whereas the present version is perfect. This Elder job is a gem. And these Elder charts are an extra bonus! What a lovely surprise. It certainly has made an impact on my trading and has certainly given me more confidence in my trading.
Thanks Mark for pointing this out. Be interested to hear what people are finding? The bars were red and still are, but the price has spiked against me by 60 odd points just now. Should the trade only be opened if the price has gone from blue to red?
I was probably too impulsive with this and should have gone for something else? Should work,but impossible to use for short timeframes 5min as Corespreads platform not usable. These were Euro, Cad, Aud, Nzd, so far. I realise hindsight trading is easy and trading decisions may well be different in real time. It became clear while testing things that some extra filters were needed to avoid getting into numerous trades that go nowhere. Check of charts shows this.
Be patient and wait for trend. Eg, what pairs, pips made etc. Hi Darin, thanks for the feedback — really interesting stuff. I like the idea of getting in on a pullback. His comments about the system are scattered throughout several of his videos, In this one go to the I suspect there would be more info on his website.
I am from India a day trader in Equities. Look forward to hearing more of your progress. I believe not but would like to know your opinion. Usually 5 min frames, with a look either way. Trade through set ups would be a bonus, but otherwise a really nice bit of kit. Your email address will not be published. Time limit is exhausted. Traders Bulletin does attempt to smash through the smoke and mirrors, well done.
Thanks for the honest transparency. Good reading for me, which is a change from many emails I read which go straight in the trash after scrolling through quickly. I read every word of yours! My name is Mark Rose. I wanted to offer as much information as I could for free — so you'll find this site crammed with strategies, technical know-how and simple tools. The laws of momentum How to exit a trend. Comments Another great tip.
Thanks for the feedback — I look forward to hearing how you get on with it …. What time period are people finding the most effective? Thanks Mark — must try harder! Alex Elder His comments about the system are scattered throughout several of his videos, In this one go to the Leave a Reply Cancel reply Your email address will not be published.
The momentum peaks and troughs also provide ideal locations for adding to a position in an Since we launched we have closed 32 trades we have Would appreciate access to the PIE private forum. Copyright Thames Publishing Services Ltd. Thames Publishing Services Ltd may receive a commission from some of the companies we refer you to.More...