at what you point or how do you determine that slaloming is the right approach at that time and not b/o....that is where i run into the problem, by the time i realize it is/was time time try a slalom it is too late.
looking back, slalom time happen around lunch time, fail rocket, lateral 1-2-3 channel, DU lead to fail BO on either side of channel. Probl the key thing is try to id a flat channel to slalom as soon as possible.
1. long rocket gap up. waited 15m for synch bought break of hod @ 902.25. 10:25 low volume inside bar after a high volume reversal bar...exit @ 902.75 long @ 902.25 sell @ 902.75 +0.50 day: +0.50 15 days: +30.25 2. short rocket 10:45 s(17.24, 18.39) macd hist -1.6 short on break of low @ 897.50 (also low of day)...mkt basing action from 11:00 to 11:15...popped a little exited at 897.50....tried to give trade some room...should have exited after 11:10 low volume bar high wa broken...marked end of trend. short @ 897.50 cover @ 897.50 0.00 day: +0.50 15 days: +30.25 3. short rocket and bo from range 2:30 s(4.00, 13.92) macd hist -0.50 market bo down from range waited for rocket signal...short @ 891.00....holding thru first counter move was hard. vol spike @ 3:30 exited at 883 (too early) after 3:35 bar high was taken out. could have made more but negative thoughts creep in when up 8pts. short @ 891.00 cover @ 883.00 +8.00 day: +8.50 15 days: +38.25 all i can say is wow what a selloff.
Dawg.. excellent trading.. Do you use buy/sell stop orders to enter the position .. for example.. when you get an entry signal.. do you place a buy stop 1 tick above the 5 min bar high? When you exit do you use a market order... Also.. when you wait for the 75+ stoch.. are you using the fast or slow... or both? Also.. can you explain how you use MACD when trading.. I dont exactly undertstand how you use it at as a tool? I know it has to be above .40 before taking a rocket trade.. but I dont know how you use it in other setups. thanks. --MIKE
Dawg.. tell me if this is a proper assumption... Going ove your intraday charts.. I see you draw channel lines on 5 min bar.. when one of these channels are broken.. you confirm he breakout/breakdown with the stoch 75+ or 25+. You exit when the stoch reverses or the market breaks out of the new channel formed?? Here is an idea... the channels you are drawing are really the key.. they show the turning points of the market... perhaps you should one day... try trading based on the channels alone.. w/o any other indicators except for volume? --MIKE
Hitman,,,, used to talk to himself on these threads... you posted almost 5 or 6 entries at the outset... exactuly in one sentence, were you trying to accomplish? they say, in systems design, if you can't make your statement of purpose/intent in one sentence, then you haven't clarified your thought design (process)
I was tied up at 3pm, coming back looking at rocket signal and thinking if dawg practices what he post he should be in by now, he did,wtg.
this is the same thing jack suggested in the stochastic thread...just break down the market into trend and trade with trend when channel breaks reverse...if it ends if range..exit. clearly none of this is anything new...but the discipline to execute is the key and the indicators help keep me/anyone in line while they get more comfortable in identifiying trends and reversing when they end. i am working on getting there.