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Trading sim today to try and get over this lack of confidence issue. Kinda glad I did. What a chop fest. Maybe it will pick a direction after lunch like it has been lately. Picking decent entries and taking them is easy in sim. markets just not giving me a trend to hold onto.
And yes @Rrrracer I slept in this morning. LOL! I was beat last night. Finished up building 2 Christmas gift gaming computers.
MSI's Godlike Z390 motherboard.
Intel I9 9900k processor.
32 gig DDR4 3600 mHz ram
2 1TB nvme drives running in a Raid 1 set up (mirror each other)
EVGA RTX 2080 FTW3 graphics card
Dual 31.5 inch 144hz 1ms monitors.
Benchmarks were nuts when I ran them. The boys are going to be shocked at Christmas. Neither one has upgraded their computer over the last 5 years.
LOL! Yeah, running the CPU at 4.9 Ghz and no overclocking on the GPU it was throwing out some insane frame rates. Can't wait until my youngest gets to work his magic on the overclocking. I only used the built in turbo modes. He gets into voltage settings and stability testing etc. Too detailed for me.
Man , you are the real Santa Claus!I have been using the emas as well.However, i dont have the 800.How important would you consider it.I noticed the fade you marked out with the 21 ema failure,because the 200 was below the 800.Are there other scenarios regarding the use of the 800 that you like?
Bob
I use it primarily as a potential reversal indicator. Price above ALL moving averages with the 200 below the 800, potential reversal short. Ideal situation is for a nice swing to develop then enter on the break, however, I will take it on a normal 1 candle in the direction 1 not entry below both candles.
The key to using it is to wait for the price to clear all 4 of the moving averages. There is a good example of this if you look at the 1 minute from about 45 minutes ago. Price below everything, 200 above the 800, look for long reversal.
I see you are using the 1min now.Is that your primary entry chart these days?Ive been using the 5min with the emas.Every time ive tried the 1 min, its chop city for me
I have the 1,5 and 15 up on the screens but I just recently started doing that. The 5 minute is probably the best of the short time frames. It gives the most consistent trades in my opinion. I have been watching the 5 closely and in reality the entries aren't much different than entries on the 1 min as far as stop size goes. There was an opportunity early this morning (about 530 eastern) that would have only been about a 25 tick stop. It easily gave 4 times that in return.
I think in the back of my mind, there is a part of me that agrees with you on the 1 minute chart. You can get some good entries but you get so many signals that you are constantly chasing. It could be where my hangup is when I switch to live. I am profitable on the 1 min when trading sim but it would probably reduce the stress level significantly by going to the 5 minute. Could even free up some time for other instruments (ES, CL, 6E).
BTW have you seen where oil is? Geesh. 47.80. Not too many days ago it was above 70.
