Yeah, if you couldn't make money this afternoon following T28's rules, then you should pretty much just give up now.
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Simple Profitable Method
- Thread starter trader28
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Quote from bmwhendrix:
Another look-see, I like the behavior of a 9/10/5 MACD. Let a crossover be confirmed with a trend break.
Trader28 has traded the default settings for quite awhile and testifies that they work, so what does everybody do?: They immediately start changing all the settings. I have only been trading these settings for a few weeks and I will testify that the default settings work very, very well. The important thing is to get in there and get some screen time with them instead of trying to adjust the settings to catch every swing perfectly cause it aint gonna happen.
Quote from SamuelEngland:
Yeah, if you couldn't make money this afternoon following T28's rules, then you should pretty much just give up now.
Well perhaps I should give up as I had difficulty making money this afternoon following the rules.
Not criticising Trader28's system at all as I think it is excellent (and really appreciate him posting it) but I don't see how it would have produced any reasonably profitable trades this afternoon on ER2.
Maybe I'm doing something wrong but I can only see 2 signals this afternoon (both zero line crosses - one at 13:45 and one at 14:00) that would have been quite difficult to make much on.
Have I missed something here?
Yes Mr. BB, that is the case. Human nature is a bitch aint it. Looking back over my life it seems I have a predisposition to the old adage " If it ain't broken, fix it till it is." It is also called exploration, improvment, verification, etc. But having done some of that with the methodology Mr. T has so generously shown us, I do agree with you and today was a great day for it.
Why am I sitting behind a desk all day playing engineer with quote.com and IB running in the background. Oh, I remember,...........steady paycheck. Maybe soon though.
Why am I sitting behind a desk all day playing engineer with quote.com and IB running in the background. Oh, I remember,...........steady paycheck. Maybe soon though.
Quote from whatever92:
Well perhaps I should give up as I had difficulty making money this afternoon following the rules.
Not criticising Trader28's system at all as I think it is excellent (and really appreciate him posting it) but I don't see how it would have produced any reasonably profitable trades this afternoon on ER2.
Maybe I'm doing something wrong but I can only see 2 signals this afternoon (both zero line crosses - one at 13:45 and one at 14:00) that would have been quite difficult to make much on.
Have I missed something here?
Are you using the 3 period simple moving average +2 offset for re-entries? When we have a trend like that the only way to get in after initial ZLC is waiting for the price to pullback (above 3SMA +2) then re-enter as price pops below the 3SMA +2. You can take those trades exclusively if you are strugglng with ZLC's. It has the advantage of only putting you in trades with a very strong trend
Quote from cybrbrdr:
I am a fairly new trader, and this may seem to be neophyte question, but what does "+2 offset" mean when referring to the
3SMA? Thanks in advance.
In the parameters section of the moving average you can change the offset (sometimes called horizontal shift) and shift it left or right depending on + or -
It is an important part of the calculation for using the re-entry method successfully
Trader28 and other Traders...
I need your help/advice!
In my charting program, Omnitrader, I've been watching both the macd (9,12,26) and the macd histogram (12,26,9). On your system.
Anyway, I like the macd histogram. Both macd's throw off different signals. And look at the data differently. But kinda the same.
In the big picture of trading would I be better off using both indicators (macd plus macd histogram) or just the one indicator macd?
I am fairly new to trading and I don't want to get into any bad habits. Some of the other posts I've read say, use just one indicator. Some other posts say use two or three. I really don't know...so I thought I'd ask?
Thanks for all your help and advice!
snarlyjack
I need your help/advice!
In my charting program, Omnitrader, I've been watching both the macd (9,12,26) and the macd histogram (12,26,9). On your system.
Anyway, I like the macd histogram. Both macd's throw off different signals. And look at the data differently. But kinda the same.
In the big picture of trading would I be better off using both indicators (macd plus macd histogram) or just the one indicator macd?
I am fairly new to trading and I don't want to get into any bad habits. Some of the other posts I've read say, use just one indicator. Some other posts say use two or three. I really don't know...so I thought I'd ask?
Thanks for all your help and advice!
snarlyjack
Quote from snarlyjack:
Trader28 and other Traders...
I need your help/advice!
In my charting program, Omnitrader, I've been watching both the macd (9,12,26) and the macd histogram (12,26,9). On your system.
Anyway, I like the macd histogram. Both macd's throw off different signals. And look at the data differently. But kinda the same.
In the big picture of trading would I be better off using both indicators (macd plus macd histogram) or just the one indicator macd?
I am fairly new to trading and I don't want to get into any bad habits. Some of the other posts I've read say, use just one indicator. Some other posts say use two or three. I really don't know...so I thought I'd ask?
Thanks for all your help and advice!
snarlyjack
MACD Histogram is useful for divergences if you are taking trades that way but it has a huge drawback in that there is no zero line, it really only calculates the MACD crossing it's own MA, which is only half the story... the zero line is key to knowing if there is any momentum behind the move and imperative to the re-entry method off the 3SMA +2
http://www.chartfilter.com/reports/c22b.htm
Quote from Trader28Lite:
Are you using the 3 period simple moving average +2 offset for re-entries? When we have a trend like that the only way to get in after initial ZLC is waiting for the price to pullback (above 3SMA +2) then re-enter as price pops below the 3SMA +2. You can take those trades exclusively if you are strugglng with ZLC's. It has the advantage of only putting you in trades with a very strong trend
Not really - I was trying to master the basic rules first.
Going back over your previous posts, I see how this fits in now.
Thanks t28.
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