have the kids all week , so , just trying to get a few, and stay out of trouble
today, on my 4 range for cl, price seemed to spend so much time around the 200 ma, and i really hesitate to take sigs close to that.anyway, i had 3 winners
trade 1) took a long on the ym ,5+2 strategy kicked in, +2
trade2)cl took a 123 long, price was in a clear downtrend, and grinding.the support pivot on the 5 min was so obvious..but price went only 8 ticks from my entry..hence the reason i am searching for a setup WITH THE TREND..the tct and mas were all lined up tho also, accompanied by the macd cross..+6
trade 3)this was alittle better, all mas in line, macd cross, 123, with a macd diverg doub bot...cant ignore this...+6
good things, being more selective with the 123 entries,taking longs above tct, shorts below
after discussion with friend ray, have decided to be more picky with the macd crosses, to try to stay out of chop..be wary when macdis choppin below -.04 and above .04
also letting trades play out, not bailing when +4
things to work on
the 123 entries i take , usually work, if they set up correctly.however, they are usually countertrend, and this has been nagging at me for a long time.,i am pretty picky, and usually get them at pivots, wkere a coil is likely, and i am picky about the setup.
i have enclosed a 5 min ch, with a clear break down.also, the 4 range to accompany it.with this type of trade, i have realized , that it is just a different type of entry, and i cant rely on the 123 for the entry.lets face it bob, you dont need a 123 to take a trade, its just funny, when something starts to work, thats a typical thing for me.i have been looking at these type of trend plays for a while, and the ticks come easier,when trading with the trend.every now and then,
i think what i need to do , is assess the trend on the 5 min, and specifically look for entries,and try to incorporate this into my method, and try to be specific about entries.
Your're welcome....I think thats what Mike and Cory were trying to tell you in earlier posts...I just decided to show you....It took me a few posts to get it right as well....that reply button is kinda hidden down at the bottom....I think there is one at the top left as well of the page.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
very busy today with kids, no trades
i did sit for a while, but the setups just didnt setup to my preference
i added some new pics, with these, basically, all 3 mas are lined up, with the 123 punch
still like the macd crosses, and some of these are with them, and some not.i will be looking for these entries, so hopefully, i will get a few more high probability trades.these are really the setups ive been taking anyway, however, now, i wont be so triggershy around 200 ma, as long as the setup isthere
trade 1}typical macd cross, everyone line up weird fill, but worked either way +6
trade 2missed , got kids today
trade 3)missed , cant remember why
trade 4) passed, a little choppy
trade 5)missed, monkey popped up outside my window, i turned to wave, oops
trade 6)missed, frankly? my head was in my a#@!
you get the point
next week, back to focus.hopefully
i added the 3min chart, with a 5sma and a 15 sma, for trend..i used this for a long time, and i brought it back to try to gauge the chop, and also spot emerging moves.just remember , if price is riding 5ma, allow 2 ticks for overshoots if lookin to scalp against it.i didnt bring it back to keep me out of good trades, keep watchin those macd crosses when 3mas allign on 4 rng
1 trade +6
Last edited by bobarian; April 21st, 2011 at 11:41 AM.
Reason: add pics
The following user says Thank You to bobarian for this post:
wanted to post some thoughts, ....
alot of the 123 setups are good, however, a good portion of them arent taken , because my 3 mas arent in agreement.typically, when i have agreement , the 123s work very well.hers my thought.instead of just turning my mind off, because the mas arent alligned, stay with the setup, and WAIT for the allignment, which should be the 1st pb.heres the thing..make sure 1) macd is favorable
2) you have room for the scalp
3)good, especially if coiling off of an important pivot
Just stay focused, don't try to change too many things, slow and steady...
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The following user says Thank You to Big Mike for this post: