I must say I find it scarey to keep buying new highs without a decent pullback, so far today the signals are running four for four.
Please excuse my absence...I have been very busy with Forex. I am developing a system with the DeMarker indicator and hope to start a Journal soon. (don't worry I have a lot of time for moderation in ET, I personally catch several spam posts daily) This sort of trading that Mr. 28 has presented is extremely profitable these days and I urge him to start a Journal. I understand the distractions though...I also have a full time day job and need to place and receive phone calls. So to do justice to this system I had to stop posting. I had a day off when I posted 33 TIMES to this thread on Friday. (I must grab the time when I have it, so please excuse the torrant of posts. I like to break up the subjects rather then to combine them to make replying speedier and easier for the readers. I personally do not read long posts) I have asked my trading partner (Wifey) if she can work an extra shift and dedicate the time needed to execute this system. SHE Said YES!...so you have not rid me from this yet! Thanks to my fellow moderators and contributors here ...this has turned out to be an ET classic thread...and of course...Thanks to Mr. 28 for sharing...Take the ball and run with it readers....this is working for now...learn your discretion and you will be just fine...(remember if its not your style, there is plenty of other longer term methods out there are there are many other ways to take money out of the markets, just puruse the threads here in ET...this is a marvelous place) Michael B.
At least now it definately (if only this word can be applied to markets) looks like there WILL be a retracement.
Kudos all around on this thread. Trader28, you've shared a valuable tool for many traders to learn from. To the many traders who've kept this thread positive good for you! And to Michael B, thanks for doing what you can as a moderator to help ET get back on track as a positive place for traders to meet and "talk". Best to all Curious1
Yes, the word "definately" definately CANNOT be applied to markets. Zero line cross short cancelled and morphed into long signal...
The 10/20 moving average on the 5 minute chart are nearly identical to the 2 min macd cross. A longer time frame shoulc be used also.
I think part of the confusion here is the different names various software packages apply to the parts of the MACD. Ensign calls the main line the "MACD Line" and the secondary line the "Average". Other programs refer to them differently. If I follow what WarEagle is saying, what Ensign calls the "MACD Line" he is calling the "Signal Line". And what Ensign calls the "Average" he is calling the "MA". I've even seen other software call the MA/Average the Signal Line!! This can get pretty confusing so for simplicity sake everyone should use the same terminology in this thread, similar to what trader28 uses, which is the MACD (the main line) and the MA (the secondary line).