Macd

Loch.....HOPE.....LOL!!!!! No actually we had a decent S/R level at this area....pull up a 60 minute chart and look were we have been bouncing the last few days for LOD's. This was what I call a "MACD 1/2 Value" LONG entry (1/2 way between the "zero" line and the lowest point of the valley bottom).


BTW, I have my volumes (up/dn) both set today at 33,000 on the user defined function. I will have to re-adjust it if we have a higher volume spike during the day....keep this in mind. :)
 
AMT4SWA, I was just reviewing your 02/16 2nd part of the day MACD entries and I have a question. Where did you exit the long entry made on the 12:45-12:50 candle? I’m guessing from your other posts you started to take profits at certain levels. Do you set your targets around pivot point levels or just profit point levels that seem to work for you? Also where do you decide to take the last part of the trade off? Again I’m guessing from your other posts that you trail a stop behind the last portion, could you comment on how much room you give that trailing stop if that is what you do? Thank you for all of your replies! :)
 
Loch,

My best scale out hit on that trade was a cover at 1212.75 and then my very last positions were covered by a parabolic stop I use at 1211.75. Once the trade was entered as I always do, I have a +1.00 pt target for 50% of my position and then a +1.50 pt target for 25% of the position (this helps make chop days turn out profitable). Then my remaining 25% that I hold is scaled out as I get additional 1.00 to 1.50 pts of price movement......if price is running fast then I just scale out more by price action and volume flow......I try to let price run a bit sometimes.


Here is my last trades of the day......that is it for me today and we did get a nice drop move so the volatility was decent (much better then some of these days we have been having here and there with the tight range)......


http://www.ttrader.com/mycharts/display.php?p=31261&u=cktrades&a=CK Trades&id=1303
 
Quote from AMT4SWA:

Loch,

My best scale out hit on that trade was a cover at 1212.75 and then my very last positions were covered by a parabolic stop I use at 1211.75. Once the trade was entered as I always do, I have a +1.00 pt target for 50% of my position and then a +1.50 pt target for 25% of the position (this helps make chop days turn out profitable). Then my remaining 25% that I hold is scaled out as I get additional 1.00 to 1.50 pts of price movement......if price is running fast then I just scale out more by price action and volume flow......I try to let price run a bit sometimes.


Here is my last trades of the day......that is it for me today and we did get a nice drop move so the volatility was decent (much better then some of these days we have been having here and there with the tight range)......


http://www.ttrader.com/mycharts/display.php?p=31261&u=cktrades&a=CK Trades&id=1303
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this dont sound like automated trading??

Mr. Zen
 
No $hit...........did you totally forget the thread where I said that 80% of my trading capital is in several "automated"/ "semi-automated" systems and that the other 20% I use to trade discretionary.....come on dude!
 
AMT thank you so very much for all your advice. I do have a question about the feb 17th chart you posted. You mentioned before that it is best to take every zero line cross over no matter what. After the 10:05 long, why not reverse back to short at approx 10:50 x over?
 
That was not a qualified "zero" line cross as you must have the last printed MACD segment followed by at least one other segment that is equal to or higher then the current segment. So this did not count. Now if the next segment had printed down (two down in a row) from the zero line area then I would have taken that as a "zero" line reject trade just like the SHORT at just after 13:30. The "zero" line is a significant price action related area so do not be surprised to see the MACD get a bit nervous when it is near the "zero" line area. On this trade the price action was still holding the uptrend line from the LOD and the volume for the sell side was nothing special, so there was no need to reverse and go SHORT at this point from what I could see.
 
Quote from TGM:

Yes, I daytrade the ER2. I used to be to many thousands a side in the ES but I moved to more volatile things. Now I just position trade the ES. I like something a little more volatile.

Dont buy Chick Goslins first book. Buy his second one. He published it himself and it is more more complete than the first book (which had a different publisher). He trades the 3 lines. You will get many good ideas. Best book I have read in years.

www.tradingdaybyday.com

FWIW, you can actually call him. His number is on his website. He actively trades out in La Jolla, CA. I near fell over when I first called the man a few years back to ask questions about his first book. He picked up the phone!! He is a good guy packed with decades of knowledge.
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TGM, I enjoy your posts. Just wondering, is your nick TGM an homage to Mr. Homer Kelly?

Regards,
Triad
 
Quote from Triad:

TGM, I enjoy your posts. Just wondering, is your nick TGM an homage to Mr. Homer Kelly?

Regards,
Triad
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Triad,

No, I have never read any of the Homer Kelly novels (I assume you are referring to these). Maybe I should. TGM = my initials. I was not in a creative mood when I signed up for Elite!
 
Quote from TGM:

Triad,

No, I have never read any of the Homer Kelly novels (I assume you are referring to these). Maybe I should. TGM = my initials. I was not in a creative mood when I signed up for Elite!
More...

OK, just a coincidence then :)

Actually, Homer Kelly only wrote one book. The Golfing Machine, commonly referred to by his enthusiasts as TGM. It is a rather obscure, but fascinating, book which applies the sciences of geometry and physics to the golf-swing.

Homer believed that the perfect golf swing was simply a matter of applying geometrically on-plane linear force to a stationary golf ball.

I love his concepts but have found that, much like trading, applying the concepts 'live' is the real challenge.

Regards,
Triad
 
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