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Anyone use this Indicator from Trading123.Net?

  #14 (permalink)

Paris, France
Trading Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
cunparis's Avatar
Posts: 2,565 since Jun 2009
Thanks: 1,162 given, 2,068 received

franky View Post
Thanks cunparis and sharky, good advice. Tbh not at a crossroads yet. But might be interesting to post a chart.....I have a fair number of standard indicators on my charts...some even I dont refer to anymore yet am averse to removing then...(like an old friend I guess). Mainly, look for divergences with macd with confirmation from time and/or support/resistance.

Whenever I post a chart of my trades, people are able to find reasons that I shouldn't have taken some of them. For me it's not the trades I missed that hurt me, it's the trades I took that I shouldn't have. I posted a chart in Jeff's thread and showed him a trade and he pointed out that it was a test of the low and not a good point to go short. So now I'm looking out for that.

In the beginning I didn't post charts cause I thought I had an edge in my indicator combinations and settings. Now I realize that I could explain what I do to everyone and give them my charts and they wouldn't be able to duplicate my results. The reason is there is a lot more to it than indicators. You have to know how to use them, when, and most importantly when not.

Your description sounds like a good approach to me. I love divergences.

Also one final thing, I took a break from my regular ES trading because I lost my mojo. After 2 months of being consistently profitable I was losing money. I'm still figuring out what went wrong but I think a lot of it has to do with the summer months being lower volume and more volatile. And the second reason is I stopped analyzing all my trades every night. So I plan to start again on sim after labor day. So if you've been doing bad lately don't beat yourself up, it could just be the summer or it could be something you changed. Like if you're doing well you stop doing something thinking it's no longer necessary and it turns out that was the reason for your success.

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