It looks like this is Larry's Ultimate Occilator, included with Ninja. Looks like he had the indicator spiffied up with auto comparison to ID divergence, with an audio alert to boot. Attached has UO added for 11/21 TF. Notice divergence A, where the MACDs also indicate divergence. At divergence B, however, UO calls it but the MACDs don't.
Last edited by HighRise1202; November 23rd, 2011 at 05:53 PM.
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I never heard of UO before so no I do not use that mine is based on stochastic and another indicator, it has been modified with my own settings with auto Div and auto alert this one is optimized for min charts. I have a better one optimized for other time frames but this one I can't post it as this is the one that provides most of my winning trades I would say it has an average of 80% .
I don't just use this alone it must match with Fibs that I use and this is another story.
Enough for now as I don't wanna take too much space here as this is bluemele's trading journal.
Last edited by Larry; November 23rd, 2011 at 10:09 PM.
Reason: forgot something
Je suis de la rive-sud de Montréal donc endroit assez francophone, et oui j'ai trouvé un bon indicateur un peu par accident.
Well I wil stop writing french as it would not be appropriate specially in somebody else's thread.
Should you have anymore questions just start a thread in the french section in traders hideout, this would make a change discussing trading in french. I am done here as I feel I have taken up enough room in bluemele's trading journal.
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Take longs only was the plan, did I take any, yes, one, gift.
There was little resistance for more long and the longer term was saying UP. I thought I would catch a nice pullback, but got bounced. Then I took a short and was bounced quickly! Then short again after a better bar setup.
My management on that trade wasn't bad in my opinion. I thought about exiting but figured I would stick with it some.
On the next trade I was thinking short because the 1597 had a nice foot, but I got taken out very quickly as well. I then re-entered about a point higher for a nice little trade. I didn't like the deep slowdown and decided to exit.
The crux is that the poor trade management worked out for me today! WOOOOHOOOOO....
However, by getting out of this trade, this kept me away from a possible 5-6 points move which happens often.
The reasoning was the strong up likelyhood, and I guessed it right this time, however it normally will retrace, but today seemed like a lot of profit taking or something happening to where technicals were to be cautious.
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I actually enjoy days like this because you can make your points quickly and be done.
What sideways action after the big run though and I am glad I was not trading at that point.
My first trade was a pivot trade, and it had one last spring of life in it and knocked me out before it ran down. 2nd trade was nice, and I was calm, relaxed and comfortable, but considering the pressure up, I was not waiting for it to move back up again and moved to BE quickly.
The 3rd trade was a continuation as I exited my 2nd trade too quickly. Better management and I even 'saw' the long. That was the trade of the day in my opinion, but I am thinking short on the brain due to fundamentals, but those changed for today for sure.
We are in a definite upswing, so my longs could be the focus......
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Ok, if you want to see someone fall apart, then watch this video. I knew I was, but I was MAD and going to get EVEN! haha....
Man, I got chopped within about a 1 point range. Honestly, my normal trading I would have stopped at +1.1 points for the day. I am pushing myself beyond my normal 'range' to 'evolve' and it just didn't pay off for me today. I do believe the long term is short or maybe I should say, "mid term", but I was not able to find the right entries and WHAT A BULL MOVE UP!
A normal person would have walked away and came back. Not me! Until I can conquer this obsession with 'beating the market' and 'being right' my consistency will not come back.
Seemed like an exhaustion move and there would be a retrace vs. yesterday....
I probably 'should' not have even traded today as my neighbors kept me up as well as my kids a little. 4-5 hours a sleep a night is taking a toll on me at this point and my brain is quite foggy. The market just hit my target on my short and I would be up about 1.6 points for the day... At least I called it...
That long at 730 was a round number, beautiful picture on macd's, 76% retracement, ummm, what else do I need? Well, I was sticking to my plan of only short... I wasn't trading what I saw....
I am instituting some new trading rules which I used to have... Bringing them back... Unless it is a pretty picture on the 440, then I don't trade it...
PS. After reviewing my trading today, it is obvious that I am tired and not thinking clearly. I will try harder to get proper sleep and rest.
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