Cathy's Chimp Charts

[LongShot]

9:30-11:30 or 12:00 AND 1:30 or 2:00-4:00
strictly entries/exits according to 5/15 crossover. one exception -i start looking for an exit after 10+points. i don't automatically take a ten point gain, i try to ride the trend as much as my nerve will allow, but i begin to carefully eyeball the unfolding price action exiting when it "looks" like it's beginning to retrace.



11:30 or 12:00 - 1:30 or 2:00:
when and IF i trade this period i use 5/15 for entries and exit for quick scalps on S/R in the developing chop channel. one problem i see with this is that 5/15 entry tends to get you in a little too late, in the middle of the chop channel. not much room left to run till you hit the ceiling or floor.




nothing fancy, i've looked at stochs for better timing but seems that just gets you out too quick and often missing most of trend.



have you found anything useful for timing exits?

LS

 

[opm8]

Quote from LongShot:

11:30 or 12:00 - 1:30 or 2:00:
when and IF i trade this period i use 5/15 for entries and exit for quick scalps on S/R in the developing chop channel. one problem i see with this is that 5/15 entry tends to get you in a little too late, in the middle of the chop channel. not much room left to run till you hit the ceiling or floor.
LS [/B]

This is pretty well the conclusion that I came to, as well. I started looking at this system a few days before this thread started and found that the ema crossover gets you in too late (duh). So I've been doing 1 or 1.25 pt scalps off the S/R in the 5/15 channel once a trend has started. If it's an uptrend I go for bounces off the support line (15 ema), preferrably a tick below and the opposite for downtrends. Generally, if there's .75 to a 1 pt range in the channel it works quite well. There are very many of these setups throughout the day. I also watch cci for trends.

--opm8

 

[El Cazador]

Not sure there is any good way to trade the chop in the middle of the dsay (or wherever it happens to pop up) but the Bollingers and stochastics set to emulate REI helps. I think one is better off trading before 11:00 AM or after 2:00 PM as follow through better then. Good Luck

~EC

 

[bobcathy1]

Quote from opm8:


I started looking at this system a few days before this thread started and found that the ema crossover gets you in too late (duh).
--opm8

A crossover on a 1 minute chart is too late? How fast do you guys want to trade? I like a little confirmation before I put money on the line. I learned the hard way not to "anticipate" a cross. Gets you burnt a lot.

 

[mojo59]

I think the exits are the most difficult part of the crossover systems for me. Trading 1 ctx it is very difficult to know when to get out. Longshot, what market are you trading with a profit target of +10?
The stochastic can't be used as a stand alone exit signal. I would appreciate hearing what some of you use for exiting your trades. Thanks

 

[inandlong]

The crossover is supposed to be the exit also. One of the toughest parts of trading is accepting that you will always leave money on the table.

With ma's, you leave the least on the table when the trend is slow and orderly - subjectively speaking. This is manifested by price that doesn't rocket away from the longer average immediately. Rather, it slowly rises away from the longer average and then slowly falls back to the average. Again, subjective, but that is when the crossover will give you the best exit.

Actually price does one of two things as described above. When it rockets away, then it does one of two things again, either it bounces as strongly as it rocketed, or move sideways to the average. Both scenarios waste either time or money. For the rocket move, I use simple trendline break for the exit. Is it perfect - no. Does it work well - yes.

To summarize, orderly trend - crossover exit. Rocket move - trendline break exit.

 

[LongShot]

inandlong, i am not quite sure what you mean by use the trendline break for the exit after a rocket move. what trendline are you referring to?

 

[inandlong]

Hey Longshot,

I'll use the term parabolic move because I'm sure you know it, but for any up move that takes off like a rocket I draw a trendline just below the lows that approximates the slope of the move, but not quite as steep. Pretty close though. When price crosses that trendline either because it is moving sideways or down I am out.

Not quite as steep gives it a little room to pullback and move ahead if it is still really strong, but close enough to capture that move.

 

[LongShot]

GOT IT, THANKS

 

[LongShot]

Quote from mojo59:

I think the exits are the most difficult part of the crossover systems for me. Trading 1 ctx it is very difficult to know when to get out. Longshot, what market are you trading with a profit target of +10?
The stochastic can't be used as a stand alone exit signal. I would appreciate hearing what some of you use for exiting your trades. Thanks

NQ