Simple Profitable Method
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Hello Mo
I use 2 min charts with 10 min in the background. I know what you mean about the MACD crosses and that's why I don't always wait for them. If the 8SMA has been traversed and the price action looks OK and there is reasonable anticipation of the MACD crossing then I will probably make the trade. True to say I have on a couple of occasions had to close the trade very sharply cause I got it wrong but overall it seems to work for me.
Classsic example this morning on the DAX (daily cash) the 8.18 price bar broke through the 8SMA, the next bar moved further away from the 8SMA and the MACD was reversing up away from Zero. I didn't wait for the 8.20 bar to complete and was filled at 6649 and came out at 8.38 at 6661. I nearly took my next trade on the 9.26 bar but decided to wait for the MACD to get closer to Zero. It did and I went short on the 9.34 bar as soon as it moved away from the 8SMA and MACD showed real intent towards the Zero line. Settled for 7 points profit after a bit of a grind. Not a bad morning and predominently thanks to SPM.
One of the things I have noticed about using both the FTSE and the DAX is that generally they follow each other around as you know. Very often there is a time lag so sometimes you see the full signal on one of the markets and then the move repeats itself on the other but because of the delay on the other one you can trade the 2nd set of signals with plenty of confidence.
How are you doing?
Edit: and then another great signal on the Dax between the 10.40 & 10.50 price bars where you could have made an easy 10 points. And I missed it, damn!
I use 2 min charts with 10 min in the background. I know what you mean about the MACD crosses and that's why I don't always wait for them. If the 8SMA has been traversed and the price action looks OK and there is reasonable anticipation of the MACD crossing then I will probably make the trade. True to say I have on a couple of occasions had to close the trade very sharply cause I got it wrong but overall it seems to work for me.
Classsic example this morning on the DAX (daily cash) the 8.18 price bar broke through the 8SMA, the next bar moved further away from the 8SMA and the MACD was reversing up away from Zero. I didn't wait for the 8.20 bar to complete and was filled at 6649 and came out at 8.38 at 6661. I nearly took my next trade on the 9.26 bar but decided to wait for the MACD to get closer to Zero. It did and I went short on the 9.34 bar as soon as it moved away from the 8SMA and MACD showed real intent towards the Zero line. Settled for 7 points profit after a bit of a grind. Not a bad morning and predominently thanks to SPM.
One of the things I have noticed about using both the FTSE and the DAX is that generally they follow each other around as you know. Very often there is a time lag so sometimes you see the full signal on one of the markets and then the move repeats itself on the other but because of the delay on the other one you can trade the 2nd set of signals with plenty of confidence.
How are you doing?
Edit: and then another great signal on the Dax between the 10.40 & 10.50 price bars where you could have made an easy 10 points. And I missed it, damn!
Quote from version77:
I usually never post during the trading day. And it is not like you
haven't spent time here showing your method and charts...
Plus, I have the ability to trade and chat at the same time.
It's not that hard you know...
Suuuuure you were trading... all the professionals troll chat forums and argue through the trading day
Dunedin,
Thanks for the reply.
I assume you are watching the futures charts, not the cash ?
I don't trade the Dax, maybe I should. Tend to watch the eurostoxx 50 though.
I don't take the MACD signals in isolation, as they are lagging and it becomes difficult to identify a sensible stop level.
I don't see the signal on the Dax you mentioned.
Mo
Thanks for the reply.
I assume you are watching the futures charts, not the cash ?
I don't trade the Dax, maybe I should. Tend to watch the eurostoxx 50 though.
I don't take the MACD signals in isolation, as they are lagging and it becomes difficult to identify a sensible stop level.
I don't see the signal on the Dax you mentioned.
Mo
Quote from version77:
They do whan an ass like yourself pisses them off...
I can't be held responsible for your lack of discipline
Mo, that's the one. Although i use the daily cash the graph on the daily future is identical and the signals likewise. On your graph price broke through the 8SMA at 10.38-10.40 and the macd had already crossed over its average but still short of the Zero line. There was also a bit of resistance to break through at 6695 so after it had broken through 6695 the macd was then showing real intent on crossing Zero. That would have been it for me had I been paying attention. There was something of a reversal during the move which is quite common but it turned into a nice macd kiss off the signal line and then moved on again.
Days like this I need the Dax, FTSE is totally out for the count, it may wake up this avo. Not much news around today though.
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