Dan, One of the things I like to do for rockets is practice a bit of anticipation. I watch how much each tick changes the values for the MACDh and the Stoch, and then use that to extrapolate how far price would have to move to reach "GO" conditions. I then mentally bracket that price. Granted this changes as each bar changes, but I think it helps a bit to establish where the market is at relative to where it needs to go before I'll enter. What are your criteria for exits? It doesn't seem that you are using the "first out" rule? Anthony
If you REALLY believed in anticipation, wouldn't you just tweak the indicators to be a little faster? But then you might have to anticipate the anticipation...hahahaha!
I haven't looked that closely at it yet, so it may very well do that. I just do some mental arithmetic when I see the stoch values getting close to a take off point, to try and see what the price needs to be in order to cross out of the tape area. I'll go back and look at that though - it should save me some hassle if so.
Im not saying it does, just that I remember Jack telling one poster to use the 5,2,3 to get in a bit faster. One more thing to consider.
Nice trades Dan. The locations of your exits they seem to be well timed in that you wouldn't have made much more by holding longer. As mentioned, each exit looks like it would have fared well with a reversal. Is this the chart you trade from? My one comment is that I would expect anyone following Jack's trading methods to have a lot more annotation than what is on your chart. Regarding PRV, the other method is use the volume on the 5m chart at different intervals and multiply to get the prorata. Ex multiply vol after 30s by 10, after 1m by 5, etc. Thanks for posting your trades -- I hope others will too.
aweis, yes i'm using the first out rule....except that's when i move my 'target' to break even. rider, i haven't read about using the 5,2,3 fast stoch to get in sooner, but i'll look into it. tx, what do you mean by more annotations? actually the rocket signal seems to be helping me to get annotations rolling...since they 'always' coincide with a pt2 end. dunno how to explain. yes that's what i notice about them, there IS value in seeing that they consistently are 'late'...anything that is is consistent is valuable in this arena i think. you can trade around that consistency. nothing is a better motivator than success, i do wonder why no one else ever bothers to bost entries and reversals (or exits)? no reason to have an ego, aren't we all here to learn? except for the shmucks that is, who are now on ignore.
The best way that I know is to make a separate chart for your sq/str alone. Then go to chart objects/overlay/properties and in chart type put spread and in chart scale put shown. This will give you a chart with the sq/str showing on the right side of the chart . If you have any problems let me know and i will do a screen shot.