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Simple Profitable Method
- Thread starter trader28
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Trader28's approach profiled here can be very effective in real time, but definitely takes experience to operate correctly. Any use of oscillators and crossovers to trade with always involves various degrees of pattern recognition.
Experience in real time over the course of time is how we define the term "feel". I have absolutely no doubt T28 can "see" things on his chart others cannot <i>as of yet</i> due solely to experience at work.
There is no way to export experience from one trader to another via any communicative means. T28 has laid out a simple approach which works for him... all of the little nuances and individual twists can only be learned by each person thru weeks, months and years of live observation.
Instant success via A-B-C follow some rules does not happen in our profession. It is a lot longer road to success than that, with an equally high level of reward once you get there.
Be patient, take your time, watch the squiggly lines do their thing across the charts for a few months & years. It all comes gradually clear over time!
Best Trading Wishes
Austin
Experience in real time over the course of time is how we define the term "feel". I have absolutely no doubt T28 can "see" things on his chart others cannot <i>as of yet</i> due solely to experience at work.
There is no way to export experience from one trader to another via any communicative means. T28 has laid out a simple approach which works for him... all of the little nuances and individual twists can only be learned by each person thru weeks, months and years of live observation.
Instant success via A-B-C follow some rules does not happen in our profession. It is a lot longer road to success than that, with an equally high level of reward once you get there.
Be patient, take your time, watch the squiggly lines do their thing across the charts for a few months & years. It all comes gradually clear over time!
Best Trading Wishes
Austin
Quote from '81packer:
WarEagle
..could you please explain how you have the MACD settings on the histogram.png chart
Sure. First of all, I got rid of MACDDiff since that (the difference between MACD Signal Line and the MACD Moving Average) is not used. Here is my TS indicator in the attached text file. Set the properties of both MACD plots to histogram. I have hard coded the colors to simplify the setup but you can change that if you need to of course. I also set the plot thickness to 3 in the chart I posted.
EDIT: Sorry about the text file, it didn't keep the formatting from when I pasted the code in. Here is the .ela file zipped instead.
Attachments
This latest buy signal is a good example for me of why you need to apply some discretion and common sense. The crossover of the zero line was not evident until the close of a very large bar to the upside...not generally a great place to buy in choppy conditions. It worked great yesterday given the strong upward tilt of the market. Today is a different day. Just my thoughts.
My input this morning was meant to bolster the viable method profiled in here. Any discussion about anything I do would be found in my own "Backyard Party" thread, but I will add that anything other than a 100% mechanical system (assigned exact entry, exit and stop parameters) requires some degree of learning curve. Zero exceptions to that fact :>)
There are many ways to trade profitably, and T28 is showing you one of them with clear explanation and solid info all the way. Keep up the excellent work!
There are many ways to trade profitably, and T28 is showing you one of them with clear explanation and solid info all the way. Keep up the excellent work!
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