Day-Trading 2.0 for small traders

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Quote from TheRumpledOne:

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Wrote a DIGITAL COMPASS to tell me if the waves are higher/lower.
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Could you explain about how you enter a scalp trade using the moving averages. Maybe walk thru a before and after trade. Also, check out es journal when you have a chance.:)
 
This is a 5 min chart you are showing. Your compass is showing one up arrow and one down arrow. Is the 5 min up or down? hard to tell from chart as latest high low swings seems to be going sideways? unless you are defining a swing low as one with multiple bars higher than it on each side?

Thanks!!!

Quote from TheRumpledOne:

2qk2xhg.gif


Wrote a DIGITAL COMPASS to tell me if the waves are higher/lower.
More...
 
Quote from kinggyppo:

Could you explain about how you enter a scalp trade using the moving averages. Maybe walk thru a before and after trade. Also, check out es journal when you have a chance.:)
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I do EXACTLY what jjrvat spelled out on page 1.

1) Determine MACRO status... if price below ma(240) look for short entry, if price above ma(240) look for long entry.

2) Look at the WAVE ma(6) status... are the waves making higher/lower high/lows.

If higher lows, then you go long when price crosses and closes above the ma(6).

If lower highs, then you go short when price crosses and closes below the ma(6).

3) I take whatever pips I can.

Remember, you only need one or two good trades a day.

DON'T BE GREEDY!
 
Quote from StillStanding:

This is a 5 min chart you are showing. Your compass is showing one up arrow and one down arrow. Is the 5 min up or down? hard to tell from chart as latest high low swings seems to be going sideways? unless you are defining a swing low as one with multiple bars higher than it on each side?

Thanks!!!
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The top arrow tells me if the waves are making higher/lows highs.

The bottom arrow tells me if the waves are making higher/lows lows.

I can see all the time frames in a glance.

SIMPLE.


Personally, I like the M1 and M5.
 
I have been unable to find an indicator for MT4 that shows the previous candle/bar midpoints as described by TRO for the "Control" feature.

Does anyone have a custom indicator for this?
 
Quote from SurfBoy:

I have been unable to find an indicator for MT4 that shows the previous candle/bar midpoints as described by TRO for the "Control" feature.

Does anyone have a custom indicator for this?
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You are on the internet, if you google search, you'll probably find what you are looking for.

MODERATORS aka FORUM POLICE, watch me like a hawk, so I can't post any links.
 
Quote from billdobson1972:

HI RN,

nice chart. is it drawn in QT or tradestation. how do you mark your HH and LL. thanks
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Its Multicharts. HH/LL just a text labels for visual help, usually pivots high/low are enough to recognize market structure.
Quoting TRO - You can find code for indicator that will automatically plot all these labels if you google it :) . MC fully compatible with tradestation s easy language.
 
Before making my previous post, I did just as you suggested and did not readily find the requested indicator. I hoped someone here would have it available for attachment.

Perhaps I should visit your Yahoo group; maybe it's there..........


Quote from TheRumpledOne:

You are on the internet, if you google search, you'll probably find what you are looking for.

MODERATORS aka FORUM POLICE, watch me like a hawk, so I can't post any links.
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Quote from TheRumpledOne:

MODERATORS aka FORUM POLICE, watch me like a hawk, so I can't post any links. [/B]
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LOL!!!!!! I did a little more research AND received a very helpful PM at the same time. No need to get in trouble at THIS forum too!
 
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