I see you used a different time frame of 3 min instead of 2 min for es. Also, the pivot I was using shows up as an early indicator that a trade may be approaching, but then I use the MACD as the confirmation to get in. Then indicator that I pay for then tells me the overall trend for the day. For example, if its up, I would feel safer only taking positive trades, although I did see a trade in the opposite direction work fine. Also, I would feel safer trying to get in the trade earlier if the market went against the trend for the day given to me by the indicator. Before I would just buy as soon as the pay trend told me to go long, but then I would have to dollar cost down, adding the free indicators means that hopefully, I can better time the entry for the trade. I agree about going for more points, and probably also scaling up in contracts when I feel better about my trading methods. I plan to try out some more indicators I downloaded for trade station to see if they help or hinder the trade.
Etc, etc., lots of 2 pt trades there, looking at the morning and afternoon sessions, (pull the charts up and review them, paying close attention to the price action of the 10min chart vs is 9sma). Great method for reaction scalping off of the pivots (or Support/Resistance if you determine it in a different way). Have a great weekend. JJ
Yeah, each trader has to find their comfort level and what feels right in their trading ... that is the key enjoying the process. I'm sure the indicator you have is good, but learning how to use the TICK, TRIN and/or VIX/VXO can accomplish a similar proces .. gogole'em. That's great news. I hope it'll work for my public thread also. BTW, no more dollar-cost averaging on them fut's ... they have too much leverage built into'em for that to be done safely IMHO. OK, just remember, good trading is just doing the same thing over-and-over again. Once you find a process that works for you, just keep doing it. Best, JJ
since 10m MACD is just use for trend, I think you can can roll it into 1 chart by overlay the 10m MACD into 2m chart
You give a clear pointer about the MACD's lines in relation to its Zero Line: above Zero (price tendency up) and below Zero (price tendency down). And then swoop by the eager takers in your thread and a lot of choking on these few crumbs .. LOL.
Trader28- great thread. Two remaining items left to be clarified please. First, using a breach of the 9 SMA as a stop, is that a close on opposite side, or simply any intrabar break through? Second, do you use any entry fine tuning after trigger, or merely hit the market buy button, etc.? I have found that although although many setups like these look great when others post them, the true profitability or lack there of comes from where you get in on the trigger bar. If you buy the peak of a spike vs. waiting for some backfill to enter with the possibly of missing the trade will make huge outcome differences when talking about a 10-20 tick target in something that frequently runs with 10+ tick bars. My point being, if you do fine tune the entry, the setup becomes a whole lot more discretionary in a hurry. If you don't, and just generally enter with market orders after trigger, kudos to you and the setup.
I need a close on breach of SMA. I will wait for slight pullback if the market gets away too much before I'm convinced of the signal, sometimes it will dip below the SMA on pullback then pop above for an entry... but as you know so much of this depends on the feel of the market and what type of day it is, I understand the guys that want really hard and fast rules and get frustrated but I've found you have to have a certain level of flexibility when dealing with a dynamic beast like a market, but the simpler you keep it the better you can adapt
Don't mind him. Cheese has been around for a loooooooong tiiiiiiiiiiime, and the thing is, some of the information posted on these threads has been absolutely brilliant, yet also understandable by the average (or a above average) trader. You don't belive me, just put that search engine to use one Saturday night or two, it's pretty amazing, books just don't have this stuff. He feels that if something isn't up to (his) par, it's time for him to get cynical ... kinda forgetting that this is all for free, period. So bottom-line, don't mind him, that's what happens when you've been around a little bit too long ... Best, JJ