Ouch... Could have sworn I was right - even waited for both lines to cross,,, 11:35 Short at 820.75 - minus 2 points. Missed the early morning move, as I didn't sit down till 11:00...(sigh)
tampa, a snap shot of your chart to go with your trade if possible. just want to see if I am looking at the same line.
You must have missed the buy signal at the peak as well. In fact, using the 80/20 parameters that Jack mentions and using your fast line, would have missed the morning decline as well. This looks to me to be more complicated than simply trading the market action. LOL. But maybe I don't understand the rules. Either way, buy high, try to sell higher, sell low, try to buy lower still.....tough way to go if you ask me. OldTrader
No, the morning down move was doable. The 11:00 "buy" wasn't a buy...the MACD had not crossed yet. You had me fooled. OldTrader, I thought that you were showing a real interest - it appears that all you really want to do is rain on the parade...so be it. I see value in the method. You don't. That's cool.
Just some fyi from what i have read about Jacks's System Doesn't look to trade from 11:30 to 1:15 Also the MACD 5m histogram never closes below -0.4 Also the MACD was entwining around 0...market becoming trendless. I enjoy the posts. Keep up the good work.
"Rain on the parade"? Nope. I'm still trying to understand how this thing works. For instance, I thought the filter was the MACD histogram being over +.4 for buy signals. Isn't that what Jack said? Now you're telling me that "MACD had not crossed". What didn't cross? The MACD line had already crossed the signal line of course. The MACD line was above zero. The only thing that had not "crossed" was the signal line, which had not crossed zero. So are you saying that it's also a requirment that the signal line cross 0 in the direction of the stochastic signal? Or does it work some other way? OldTrader
The Histogram did close below 0.4 on my chart. The MACD itself was pushing it on my part - as was trading after 11:15. I pushed it, and got my hand slapped
Come on tampa, interest comes and goes, waxes and wains, just like friends. Just because the method has some (or a lot) of downside to it that maybe some can't tolerate is no reason to assume the worst. Maybe I, or somebody else, can find a use for the technique under different conditions. Same is true for OldTrader. Just because he, or I, might find the parameters useless now is no reason to forget the technique. I've sold lows before to set up a short (when trading stocks and when certain the bears were in control) so it is doable, but you'd better be sure. Bruce
I refer you to what has been posted by Jack. interpret it as you will. Trade it, or don't. But let's cut the crap as to what your game is...OK?