Hi scjohn
Appreciate it very much and looking forward to more.
Appreciate it very much and looking forward to more.
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DislikedHere's the post I promised which goes over Friday morning's trades (The U.S. session -- I didn't get up early). There are some good examples of how to use momentum on the guide chart (8 pips) to filter trades on the 4 pip chart and to decide whether or not to let them run.
There are several websites that describe the theory behind the momentum indicator -- a Google search will find them easily.
I've received several private messages from new traders asking for more info, so I'll go over Friday in some depth (may take more than one post),...Ignored
DislikedHi John,
thank you very much for taking so much time to clarify your thoughts on momentum. Excellent and very interesting.
I have "played around" with momentum on Renko/Range Bars for some time. What are your thoughts on zero line crosses? Enclosed is a 5 Range chart and Mom set at 7.
Nexas, many thanks to you for starting this excellent thread.
Happy trading to you all.
NickIgnored
DislikedThanks Nick.
I like to be on the correct side of the momentum zero line but it's not a necessity. I consider higher highs and higher lows a strong up signal even if the line is below zero. Being on the correct side of zero gives me a warm fuzzy but not much more than that.
I do like it when my trade triggers in the same direction and near the same time as a zero line cross but I would never trade a zero line cross by itself in the absence of other evidence.
I have no experience using a setting of 7. Does it work well for you?Ignored
DislikedHi Everyone,
Sorry I haven't been around in a while. I have been caught up with school runs and stuff like that, as my wife can't drive at the moment.
Hopefully I will be back in the saddle soon :-)
NexasIgnored
DislikedHi all,
Trust all is well.
Today is my last working day and from the following Monday I will start full time trading.
The first week I will spend trying to take only the most obvious patterns to avoid unnecessary risk and overtrading.
I will be posting them on this forum. Any (constructive J) feedback is very welcome....Ignored