The Macd is the trend indicator. Short term trend for sure but thats what we are trading. It works pretty well, imo. Some of the posts I made at the beginning of this thread are coming back to haunt me. Something T28 said about "fecking with the system". I have fecked with it a bit but I think its basically intact.
Hey this is interesting, I took the ES chart and overlayed it transparently on the ER2 chart. Seems that the two have a pretty high coorelation. Is this the norm for these two?
I am reminded of the analogy of the dog on the leash. ES is holding the leash and ER2 is the dog. Your overlay is probably a percentage move chart and percentage wise they are very close. Dollarwise ER2 moves about twice that of ES.
Here is a side by side comparison, both charts having a $1000 range. If you made the ER2 chart a range of $2000 they would appear almost identical.
Well before I am banned for standing up against a racist hate monger that openly defies the moderators (who in their wisdom have decided to overlook said cretin)... let me just say what a pleasure it has been to initiate this thread and see you all embrace simplicity and gain the confidence we so often lack as traders.... Scarecrow... err Bearbelly, I think I'll miss you most of all
I think everybody needs to be banned at least once in his life. If you choose not to reincarnate I thank you for your help. I really think you gave me the missing link. We will see. Ciao Wiz.. err trader28.
Trader28... I also wanted to give you a big thankyou for all your help, insight and your trading plan!!! I am a fairly new trader (ym) and your simple trading plan helped me alot. Now I must admit that I took your plan and tweaked with it a bit. Like adding a momentium indicator and pivot points to it and it works great. Your plan with just a couple of minor tweaks is great. I have read your whole message post 3 times now (to get everyone of the ideas) and imho this post has been one of the best on ET and I want to thank you for sharing your ideas with us/me. You have probably saved me years and thousand of dollars and I realize that and I appreciate it. Their is no reason if you read this post that you should get banned. This post has been very imformative, clean and upfront. I only wish that other people would share their ideas as you have. Once again, Thankyou!!! SnarlyJack
Heh heh.... yeah it's probably time, I get a thousand questions a day and now that daylight savings kicks in the market doesn't open for me until 1.30AM I'll barely be coherent
First off, to Trader28, Id also like to say THANKS! Great post. SnarlyJack - Could you explain to me more the adjustments youve made to the system and how to use them? If youd rather not post them, please PM them to me. Ive also been watching the YM with this system, and it seems to be great as-is. But Id like to look at your method as well. BTW - was the momentum indicator a slow stochastic? Ive added that myself...