Wanted to say "interesting", but clicked the wrong button... so- put up a histo and see it's value as the entry occurs, perhaps set a threshold to filter 50% line trades?
I don't think Jack is barring up at his age... but evidently he was quite the ladies man in the roaring 20's
I've been adding the Bollinger bands. I'm thinking that a signal works better if it's preceeded by narrow Bollinger bands (less than 2.5pts). Just another tool to help out. Here's my trades for this morning. - Time is Central time. Got in with a SELL when MACD did crossover below the zero line. Lower bollinger band was penetrated by a good amount which caused the bands to widen. Got stopped out on one contract due to choppiness - probably got in a bit too early with some of my contracts. Increased my position as price started going my way. For once a trailing stop would've worked but it seems everytime I use a trailing stop it just reverses to my break even point. It probably worked because I DIDN'T use a trailing stop -LOL. I put on the trade with a bracket with stop and target and I just walked away. It's just too nervewracking for me to sit there and watch - especially when it gets close to my target and then reverses. I end up biting my nails and pulling my hair out - Just like the Patriots game last night - (Pats fan - bummer) This morning I was calmer - I had the mind set of I'll check it later - if it works, it works - if not -oh well. I don't always have that mind set though - a lot of times I feel I MUST get a win and end up overtrading. My mindset still need a lot of work. I hope you all saw the signal and were able to take advantage of it. Good Trading to You
Trader 28: If you could indulge me once more, going back to basics/ have a bit of confusion not about your original settings, but about MA's: 1. You use the 3SMA+ 2 only for 2 purposes: when you have gotten out because you hit your target, to reenter. You reenter when price pops above the 3SMA+2, provided the trend is still intact. The "trend still intact" means the MACD on the 2 min chart is still above 0 and above it's average. Correct? Somewhere I seem to have read you use it as at 2. You have another MA on the chart, a 9SMA+2 (? read somewhere about triangular MA etc.?), whose ONLY purpose is to give you early entries and is used ONLY to anticipate a Zero Line cross of the 2 min MACD. Is that correct as well? 3. You have an 89 SMA on the chart (??) whose purpose is to keep you out of chop and make you as rich as Bill Gates or Jack Hershey. Meaning, you only take shorts below the 89 SMA and longs above. Correct? Thanks!
1 & 2 yes (10 period triangular +2 is a closer fit to the proprietary MA I use, but simple is very close too) 3 no
t 28, in a case like this last long at 13:56 or 13:58 EST: does one anticipate the cross of the MACD lines? As far as I understood, you only jump in early on Zero Line crosses. Is that correct? So, would you have waited for MACD to cross it's MA clean or did you also use the Triangular 10MA for anticipation in this case? And, do you wait until the MACD signal line actually touches the MACD MA line for your "anticipation", or do you jump in when it is still a bit away?
Jumping in early on that one was a no brainer, all the momentum was to the upside and MAC was already well above zero even though it hadn't crossed it's MA, you should have been in at 13.54/56 on the 10TMA+2
10 min MA is below 0 and trend is still down, so what's the point behind "no brainer" long, I think there will be more follow through on the short side, but that's just what I think.