A 3 period sma is so fast that it almost sits at the middle of every bar, even if it is shifted right by 1 bar. The shifted SMA notion came about from the 'simple profitable' thread. If I recall, the ma there was a 9 period sma shifted right by 3 bars. This is a much more useful reference, imo. In a downtrend, price pulls back and starts to form another LH, then you can look for your entry when price crosses or closes below the 9sma+3. These crosses match up nicely with stoch crosses, and they keep your eye on prices instead of another indicator. Kudos to Anekdoten and others for a thoughtful, generous and educational discussion!
Anek..actually, I don't use that canned Tradestation showme...I simply "eyeball" the chart...the default setting can, however, be adjusted.... Symmetrical triangles appear to show up easily (FOR ME) on the 15 minute and 7 minute BAR chart....and I emphasize BAR CHART....place both charts side by side....They appear more clearly on bar charts (FOR ME) than Candlestick charts. Also, they tend to form when the market quiets down.. On a side note....very nice thread you have here....
Anek, I grew up on Sammy, 51/50 still rocks. I would be surprised if they actually complete the tour. Your entries often are excellent. If you could shed some light on how you can consistenly enter at the right time I would appreciate it. 1. Do you sometimes pick a price to buy/sell based on 50% retracement percentage if it lines up well with a pivot/trendline? 2. You mentioned before that you read tape. Are you entering the market sometimes based on time and sales action on a retracement? 3. Do you ever place stop market orders above/below resistance(on a retracement) to enter the market? 4. Do you use a smaller timeframe (tick/volume) chart to identify when to enter the market? thanks!
Razor...you should also probably focus on the old adage "let your profits run".... A metric that I use is that if I am not profitable after 10 trades, then I'm doing something wrong, and 8 times out of 10, it is because I'm not letting my profits run.... I don't know if you are doing this or not...but the absolute worse thing a trader can do is sell a large part of his position at a close profit target (ex., 4, 5, 6 ticks)....trust me..it's a zero sum to losing game....the money is made on the large winners
VH did some good music with Sammy but some stuff I could do without. The Roth era was amazing, I welcome the reunion with all my heart. 1) Yes absolutely, anticipate that with limit orders. Sometimes I miss it sometimes I get it. If I miss it I never ever chase it. 2) I examine where the pressure is located, no doubt. Time and Sales helps. 3) Absolutely, especially on symmetric triangles and consolidation breakouts. Many times I place the short AND the long stop orders at the same time. 4) I use two charts for ES. 5000 shares or 610 tick, been comparing lately. On top of that I use a 240 min chart for bigger picture orientation. Friend of mine has been using AHG with CCI for entries, look into that, it might help. Hope it helps. Anek
Anec Do you have the dynamic s/r code in an eld file? The charting I am using will import TS easylanguage files but Im not sure how to just put it in there with the code you posted awhile back.