spyder, your 14:40 bar is colored black yet the close was less than previous bar. Are they colored by net change or open vs close? It makes a small difference but one that would have been quickly corrected. Thanks again for the killer chat session today. Amazing what can be accomplished without the distraction of a hurricane.
Hopefully I have done this correctly. If so it represents not only my first submission in my efforts to develop a working knowlege and dare I say mastery of the JHM, but also my first attempt to draw Gaussians during real time. Ofcourse I look forward to any comments to further my understanding of this sojourn in which I have embarked on.
Thanks for the summary. I took a quick look and Avi8 made some great points too: e.g. If you wait for confirmation in price you will be too late. Well, that's most indicators out then, (in case anyone here didn't realise ). In my experience, the transition goes something like this: 1. I have no idea what will happen next, it all looks random to me. 2. Ahh, I've seen that sequence before. 3. I knew that would happen! Look I even wrote down an entry price and everything. 4. I knew that would happen but I just need some more confirmation before risking real money...here it is...now it looks too late. Bummer. 5. I knew that would happen and I'm already in and everything is confirming my position. OR, the only other possibility: 6. I knew that would happen and I'm already in BUT: NOT everything is confirming my position: Wash or Reverse. When you are brought up to stick to your position once you have made up your mind, to defend it even when it becomes indefensible, it is very difficult to train the mind to become agile enough to let go and adjust in real time to what the market tells you to do. It's a dance, but I'm sorry to tell you guys: we're the ladies. :eek:
Looking good ! reading the 4th post again might help you with the MA and MACD set up. http://www.elitetrader.com/vb/showthread.php?threadid=83604
I recommend you remove the MACD entirely from your charts. It's teaching you very little - other than how to arrive late to the party. Once you understand the Price Volume Relationship, you won't need anything else. - Spydertrader
TO SpyderTrader...so you do not use MACD?...what indicators do you use?..what parameters in those indicators?...please explain price/volume and how you actually read it...thanks for answering these directly or direct me to "direct" answers about this and not to a link where you must sort through hundreds of replies to get the answers...thanks...I know many are probably wanting to ask the same questions...thanks for helping us all!!!!!!
Tums posted four posts above yours linking directly to the answers you seek. I've already done exactly this within the first few posts of this Journal. Please take the time to educate yourself as so many others have already done. Four posts above your question sits a link to the answers you seek. Thanks for understanding that I expect everyone to start at the beginning and do their own homework. Actually, most people just start at the beginning. - Spydertrader
I recommend you remove the MACD entirely from your charts... Just as well Spyder, I never look at it anyway. Just seemed a comfort to have a throw back indicator there