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I really like it especially on higher time frames, the one minute is noisy but tradeable. However, my impression is that it is better suited for bigger time frames. I like it on the daily, the hourly, 30M, 15M and to a lessor degree, the 5M.
As it is designed to capture the heart of a trend, and to stay in a trade for longer periods of time than I am used to, I just found it to be not necessary for my style of trading. However, when I make the move to spot forex to do some swing trading, I will probably use it on an hourly chart or perhaps a 4 hour chart.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Yeah on the MotiveWave platform, the smaller SMA's are jagged for some reason, so that 89SMA is really an 89SSMA. I had forgotten about that. Sorry for the confusion. On Ninja, the 89 works just fine.
I guess it just goes to show that almost anything can work, its whats between your ears and whats in your heart that matters.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Since I was doing a trial of the MotiveWave platform, I never really figured out how to have the trades logged automatically, so those are placed manually, that being said, I always log them manually, I like the visualization better. And yes, it is a good way to keep a journal. To take it another step further, you can print out the chart with the markers on it and then make handwritten notes and stick it in a binder for future reference. Its more concise than posting here on the forum as the charts and your narrative can get interrupted with other peoples posts. Which is nice from an alternative view point but can cause you to lose continuity of thought.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Just watched the movie Margin Call. Good actors, terrible movie. Was looking for an expose of the MBS meltdown along with some trading action. Movie moved slow, left out the technical details as to WHY the MBS market imploded and virtually NO trading action.
Oh well.....I can at least check it off my movies to see list....
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
1. Got up at 5:30. I was sleepy all morning after trying to reset my body clock last week and failing.
2. Was somewhat out of sync today.
3. Took two trades overall
4. Passed on a couple I probably should have taken but just didn't feel it.
I guess I am ok with the results. Basically I should have done a better job of resetting myself for today. Looks like it will take a few days to recover the lost sleep and get back on the proper sleep/work cycle. Tomorrow should be better.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Maybe you should have seen Wall Street 2: Money Never Sleeps.
Head of old Wall Street investment firm throws himself in front of subway when his firm valued at far less than its former market value. Shia LaBeuf as Investment Banker... Ya, right... Estranged daughter despises Wall Street father Gordon Gekko, then proceeds to hook up with Wall Street guy Shia. Should have taken place at Fantasy Land in Disney World...then it would have been more believable. 2 hours of my life wasted that i will never get back.
I enjoyed it. Of course, probably because I loved the first movie so much that they could have left the screen black for 2 hours and I would have applauded...
lol... Sorry about the movie critic stuff. i liked the first movie too...: "Blue horseshoe loves Endicot Steel" But there is a limit to my gullibility, and this money Never Sleeps passed it 15 minutes in. When the old guy ended it for himself when he found out his money would only last 25 lifetimes instead of 50. And Shia finds this rational. Josh Brolin on the motorcycle, hanging it all the way out there on wet fall day with wet leaves for traction. Ever run over wet leaves on a motorcycle. A little more traction than a thin coating of motor oil.
But, you can say the same for all movies. More or less.
I saw this today and thought it very appropriate to trading.
"I ’m not yet desperate enough to do anything about the
conditions that are making me desperate." - Ashleigh Brilliant
Said another way, no one changes their behavior until the pain of staying the same is greater than the pain of change.
We'll keep trusting indicators and chasing the holy grail until we either flame out or we finally get so sick of chasing and losing that we finally learn to trade.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Of course, probably because I loved the first movie so much that they could have left the screen black for 2 hours and I would have applauded...