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Simple Profitable Method
- Thread starter trader28
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Quote from es175:
Strange... I've got MACD set up on 2 min charts with 12SMA, 26SMA and a 9EMA average. The plots on our two charts look like different animals though. Agree?
Probably begining to sound like a pest but it would be interesting to know where you traded today. Just trying to compare notes...
Pretty close to the arrows on my chart actually, but I was leery of shorts after the first one failed, market just seemed to want to go up
Quote from es175:
Strange... I've got MACD set up on 2 min charts with 12SMA, 26SMA and a 9EMA average. The plots on our two charts look like different animals though. Agree?
Should be identical then.. maybe the 12 and 26 are exponential as well, I cant see the formula in MetaStock, they think it's Colonel Sander's secret recipe
Quote from Trader28Lite:
Should be identical then.. maybe the 12 and 26 are exponential as well, I cant see the formula in MetaStock, they think it's Colonel Sander's secret recipe
Is that a standard Sander MetaStock MACD recipe or a Colonel Custard special??? Either way, I'll have a play around and see if I can match your plots.
T28L,
Just to clarify... There's been a fair amount of talk about the nature of the moving averages on the price chart. The two lines in the price area on your latest chart posted are:
2 bar triangular moving average + 2
8 bar triangular moving average + 2
Correct?
Just to clarify... There's been a fair amount of talk about the nature of the moving averages on the price chart. The two lines in the price area on your latest chart posted are:
2 bar triangular moving average + 2
8 bar triangular moving average + 2
Correct?
Quote from hawthtrader:
T28L,
Just to clarify... There's been a fair amount of talk about the nature of the moving averages on the price chart. The two lines in the price area on your latest chart posted are:
2 bar triangular moving average + 2
8 bar triangular moving average + 2
Correct?
They are actually proprietary MA's but the closest match is 3SMA+2 (Triangular if you have it) and 9SMA+2 (or 10TMA+2)
I simultraded the always in the market system I described last nite. Seemed like a regular day to me, down $200. I got the steak chopped out of me. Especially at the end of the day.
I said I was going to use a 0 line cross with a stoch. I was corrected that this is the 50 line for a stoch. But T28 says he uses 0 line crosses but his chart today look like the signals are coming where the macd lines cross.
Snarly you asked about my gut instinct. I believe that an always in the market system can break even on most days and make sure your in the market when the market makes a big break. Big breaks will make the money.
Trying to execute in market conditions is tougher of course than looking back on previous days charts. This fills are terrible. By the time I made sure the slow line crossed 50 I was taking terrible fills on both sides of the trades. The 3sma +2 was worthless in this excercise, simple pivots might be better.
When I'm using a reverse signal for a stop loss I felt I have to use market orders. Maybe I should use a stop for getting out and use limits for entries. This could miss a move a fast moving market and a big move which defeats my goal.
As you know all the short signals sucked today. Obvious trending day and I wouldn't have taken most of the short signals if not for the trial at taking all signals. I need some kind of filter like a long ema or something. You can't take this many signals against the trend. I looking at a 63ema. It's a fib number so it should be lucky. This would have filtered all but two of the bad signals today.
See ya, good trades!
Oh yeah, Snarly, I am using the 14,1,3 stoch because on the charts you posted where you have the macd and two stochs, to me, the 0 line crosses looked most consistent with the timing of the moves on the 14.1.3.
I haven't looked much at 5,2,3. I will tonight.
Jack Hershey has mentioned being on the right side of the market at all times. Today a short trade would not have been on the right side of the market. I wanna know how to be always on the right side of the market!
Jack was right about one thing. Trying this today I believe I learned a lot and that's what I need.
I said I was going to use a 0 line cross with a stoch. I was corrected that this is the 50 line for a stoch. But T28 says he uses 0 line crosses but his chart today look like the signals are coming where the macd lines cross.
Snarly you asked about my gut instinct. I believe that an always in the market system can break even on most days and make sure your in the market when the market makes a big break. Big breaks will make the money.
Trying to execute in market conditions is tougher of course than looking back on previous days charts. This fills are terrible. By the time I made sure the slow line crossed 50 I was taking terrible fills on both sides of the trades. The 3sma +2 was worthless in this excercise, simple pivots might be better.
When I'm using a reverse signal for a stop loss I felt I have to use market orders. Maybe I should use a stop for getting out and use limits for entries. This could miss a move a fast moving market and a big move which defeats my goal.
As you know all the short signals sucked today. Obvious trending day and I wouldn't have taken most of the short signals if not for the trial at taking all signals. I need some kind of filter like a long ema or something. You can't take this many signals against the trend. I looking at a 63ema. It's a fib number so it should be lucky. This would have filtered all but two of the bad signals today.
See ya, good trades!
Oh yeah, Snarly, I am using the 14,1,3 stoch because on the charts you posted where you have the macd and two stochs, to me, the 0 line crosses looked most consistent with the timing of the moves on the 14.1.3.
I haven't looked much at 5,2,3. I will tonight.
Jack Hershey has mentioned being on the right side of the market at all times. Today a short trade would not have been on the right side of the market. I wanna know how to be always on the right side of the market!
Jack was right about one thing. Trying this today I believe I learned a lot and that's what I need.
Interesting post.
I've got an 89 period SMA on my chart for trend reference. Going to look into using it as a filter for SPM signals, rather than just for S/R purposes - i.e. if the price is above the EMA, take only long signals, and vice versa.
A filter like that would have been good today. Obviously, one day's observation doesn't mean much by itself. Should keep me trading with the trend though.
I've got an 89 period SMA on my chart for trend reference. Going to look into using it as a filter for SPM signals, rather than just for S/R purposes - i.e. if the price is above the EMA, take only long signals, and vice versa.
A filter like that would have been good today. Obviously, one day's observation doesn't mean much by itself. Should keep me trading with the trend though.
Quote from beeflover:
I simultraded the always in the market system I described last nite. Seemed like a regular day to me, down $200. I got the steak chopped out of me. Especially at the end of the day.
.....
Jack was right about one thing. Trying this today I believe I learned a lot and that's what I need.
beeflover
I started to say something yesterday but didnt. Always in sounds great but requires some monitoring skills that are quite advanced. If you cannot spot the turning points in the DOM and react to them quickly you are going to get chewed to pieces. SCT is supposedly the end of the rainbow but there is a long, long road leading to it.
I started to say something yesterday but didnt. Always in sounds great but requires some monitoring skills that are quite advanced. If you cannot spot the turning points in the DOM and react to them quickly you are going to get chewed to pieces. SCT is supposedly the end of the rainbow but there is a long, long road leading to it.
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