Day-Trading 2.0 for small traders

Agreed.

But I never know if it's going to turn into 100 ticks after the 10 tick drawdown, or if the sell signal won't be generated until it's at -20 ticks.

I have no way of predicting potential profit (ie. +100 vs. -20) before I take a position.

 

Thanks for sharing jjrvat.

I noticed that using the longer periods keeps you in the trade for more profit and it also keeps you out of early entries.

Since it seems the trade usually goes against me after I enter, I now enter at 2 pips or more LESS than my original entry price. I usually get the fill I seek.

In the M5 charts the pink and blue boxes are the H1 candles. I get a longer view on the short time frame this way.

Thanks again, jjrvat, I appreciate your posts.

 

Good stuff there, very good information.

To partially overcome the problem a trader encounters when seeing that "the size of the trigger bar can make a very bad entry", I find it useful to use a tool which measures the volatility of the candlestick.
***
i.e.,
Bollinger Bands
Standard Deviation
etc.
***
Good trading.

 

I would be interested in this also.. I have pretty much gotten to the point where all this "SEE!! that's a "healthy" trend! strong up volume, and low volume on a pullback!" isnt that accurate..

I have seen stocks go up on average volume, and stocks crash after a healty strong volume run up.. There doesnt seem to ANY consistant correlation, so I have all but tossed it out the window entirely.

Of course, I am probably doing something wrong, but all the "textbook" volume analysis seems like it doesnt work in real trading.

I am beginning to believe pure price action (trendlines, support/resistance), but no volume, no indicators is the way to go.

 

Dumb question but I have tradestation and can someone help me figure out how to get the 240 WMA to change color with the slope of the trend. Thanks so much for any help.

Pacman

 

WMA with changing colors based on if prior WMA bar value > or < than current WMA bar value.

Cheers,
i

 

I have one for a least squared color-sloped CCI I'll trade for a WMA color-sloped coded in .efs

 

try this:

inputs: Price( Close ), Length( 240 ), Displace( 0 ) ;

variables: WAvg( 0 ),Color(white) ;

WAvg = WAverage( Price, Length ) ;

if price > WAvg[1] then Color = green else Color = red;

Plot1[Displace]( WAvg, "240",Color ) ;

 

it only works if your 'example.jpg' is somewhere on the net

 

Thanks for the replies and great trading to you guys.


Pacman