Using the 9sma gets you in early enough to have trades turn a 100 bucks against you and still get out around break even, and if $100 is all the market is giving you then take it, today was pretty easy so I think you may need to work on trade management, and that includes entry, exit, assessing what the market will give you etc, nobody can hand you the holy grail, take this as a very simple starting point and add discipline, trade management and confidence... or find another method more suited to your psychology
I think that is a 8 LSMA with one other calculation added if I remember correctly (it is not just a basic MA calculation, it has an additional computational input).
Yeah Wayne has added his own secret herbs and spices, not sure if he has ever released the formula to anyone
First, Congratulations Trader28: You did something here just now that few have done. You posted a working systematic approach to trading that AN ADULT possessed of average intelligence and discipline can learn.. Now, let me (humbly) suggest a thing or two..First, if you don't already know, people will flock over here in a bit wanting to you "hold their hands" while they trade this...Don't do it...If you look at the success that Spydertrader had over at his thread you can see that all he did was publish the basics, and then a summary of the basics with links to any outside sources necessary for background, and then he pretty much refers people to the text from then on..(a comment here and there but basically thats it)... I tried it myself taking two signals today, and as I suspected it works IF you use common sense and follow the damn directions..I am not suggesting that everyone will make it work. I know they won't..but then thats the way of the world... SO, this was a nice gift..I thank you..I hope others will too.. Best of luck in the markets. Steve
Yes if MACD is threatening to cross, it can be a way to anticipate the inherent lag of the MACD and get in at a much better price