Discussion in 'Trading' started by jrs3, Nov 8, 2003.
Keep it simple, chart of dow mini, Friday 11-7-03.
keep posting this chart with same signals for more than a day and it will become apparent that you hand-picked a nice day for posting.
lets get down to basics
Simple is the best way to go. IMHO
Though I do use 2 custom made indicators. One for trend and one for oscillation.
Less distraction you have, the better you can watch the charts.
I have seen some really complicated setups and wonder how they can decide to put on a trade....but every person if different in how they like to see things.
I would suggest one more line on both of your indicators. Such as a 20 or 50 EMA and a stochastic overlaid on what you have for an oscillator. Might help you avoid some of the false signals you have on this.
Then again, if it works, don't fix it.
Rather than a confirming oscillator in the same bar interval, find one oscillator that you like for that interval (which you may already have done with the histogram), then use the same or a similar oscillator in the next-higher bar interval, such as the 5m if you're entering off the 1m/2m. This will most likely provide a better trade filter.
What about forgetting about all these indicators and oscillators and just follow the trend, buy support, sell resistance. I cannot do that yet, but this should be the way to go.
Traderkay, trading is nothing more than a random distribution between winners and losers. But I take every trade, not everyone is a winner nor do I expect it to be. I accept the risk and pull the trigger without hesitation.
Jrs3, it looks like you have a 3 min YM chart set to all sessions, ie., 24 hour, with an MACD oscillator versus the standard MACD. Either way, would you mind sharing the settings for it? No problem if no. Thanks.
Sure, setting are day session only, weighted MACD default settings 12,26,9. and the moving average is 10 period weighted.
Too good to be true.
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