Oops...hit the wrong key...yet the buy signal still worked...guess I need to eat my own words...please pass the jam.
two question to trader28: In what way you trade, when the MACD on 10 minute chart is above the zero line but the cross is negative? (loss of momentum) It does not influence your long entries on 2 minute chart, (assuming that the MACD is above the zero line)? The second question is simple: Do you have other charts put on your screen, i.e. ES...or your attention is only focused on ER2? Thanks
Trader28, What do you do when you get an entry signal while you're already in a position? If it's in the same direction do you add another unit and have two levels of targets? I'm assuming you would SAR if the signal is opposite to your position. --opm8
Trader28, Today's market made a very important question to be born in my mind. The question is: how do you identify choppy market when it's better to stay out? Today I got whipsawed around 9SMA like crazy several times and though overall profitable for the day, winrate is small and guess I'm in black only because I let the 3 or 4 profits to run up to it's 20 ticks target and cut losses really short (6-7 ticks average). I tried to add ADX but it lags even worse than MACD itself. Not entering after say 2 whipsaws in a row also looks bad for me cause that phucking third whipsaw often becomes a big winner (Murphy's laws work everywhere ).
Thanks for all the PM's, wish I could answer them all but i would never trade again Jeez no chop this morning whats going on? Hope everyone caught that short
Trader28 Could you clarify your entry on that opening short? How do you treat those gap situations? I cant remember if you said you track premarket data on your chart or not. The 11:10 cross was classic.