* You have to pay attention to where the MACD is in relation to its Zero Line. * If you get a Buy Signal with the MACD above the Zero Line (or crossing it) you can expect about 16 ticks of profit from that trade (reverse the logic for a Sell Signal). * If the Singal is not supported by a Zero Line cross, you can only expect 4 to 8 ticks of profit (ES equivalent). * Trader28 has mentioned over and over that he trades the ER2, so if you're looking at his numbers you have to cut the amount in half.
And Bingo is his NamO! Another great day for the system, if (your or I) the indivdiual trader did not benefit, it is because we did not trust and respect it. Doing so will lead to something call trading with an edge which gives you positive expectation, allowing you to automatically take your winners, cut your losers and profit from your trading. If this is not clear, you must keep notes and you must put in the screen time until it *clicks*. Good trading
Light size trading for me due to FOMC morning choppiness, still I'll take the breakfast payout. Imbecile refinement camp feel free to post blotters. Thank you. TV
I've seen this a lot, where a period of chop finally relieves it's self in a large move. Often if there is chop during the early am, it will happen during lunch, or if chop during lunch will happen around 2pm. As far as timing this, just think about how after a period of driving yourself crazy during chop you just finally give up and throw in the towel lol. Right after that the very next trade will be the doozy lol.
I meant to add that on the weak buys and sells (MACD cross below the zero line for a buy and above the zero line for a sell), waiting for a pullback seems to offer better entry points and closer stops. Although these are lower probability trades, many move quite well.
Here is what NinjaTrader is giving me so far today. I use this to confirm the raw signals. With NT it waits for the bar close and I use a 10min exit and % .8 stop and exit. Again this one doesn't back test well while the super picky one does. Anyway... <img src=http://elitetrader.com/vb/attachment.php?s=&postid=2150585 width=800>
I need a little clarification. What's your chart time/vol/tick setting, and what is your SMA setting? Just the 3SMA +1 offset? I got 20pts on the YM on that huge UP move you posted in your chart, altho for now I'm on SIM. On shorts, do you wait for a pop above the 3SMA, and on longs do you wait for price to inject a few ticks below the 3SMA before your entry? Big favor please...can you repost that chart with a vertical line where you got in? Thanks! I just got killed trying to get in that cross UP at 12:25pm CST. My stops a bit small...8pts on the YM....I know I haven't finetuned this at all....what am I doing wrong? Ian
Got that MACD cross up above Zero line. Had a small loss with the zero line cross down that then dissapeared. I exited into the spike up after I had a TICK extreme reading. Can see on this that once you are getting the MACD signal you could bid that 3SMA price as noted by others. Here it got you a nice entry at 94.80 area but perhaps would've missed that larger move earlier. So here is my obligatory wow should've held the long lol. As long as this is my worst complaint....
Just now a surge up off of 3sma at about 1.45p. This might be rentry but fed number at 2.15p so I am chilling for better or worse. This sort of rentry yesterday afternoon was golden but yesterday was market conditions different then now.