Hello Greatness!
i could not have put it better myself. thanks for your post.
Nadia
i could not have put it better myself. thanks for your post.Nadia
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
- #10,163
- Jan 8, 2008 6:05pm Jan 8, 2008 6:05pm
- | Joined Apr 2005 | Status: Cruising The Outer Rim... | 2,175 Posts
- #10,165
- Jan 8, 2008 6:27pm Jan 8, 2008 6:27pm
- | Joined Apr 2005 | Status: Cruising The Outer Rim... | 2,175 Posts
- #10,166
- Edited 7:13pm Jan 8, 2008 6:57pm | Edited 7:13pm
- | Joined Nov 2007 | Status: Trader | 259 Posts
Hi again!
A few pages back there was a brief discussion on the zero cross & it not being part of Phillip's system. I'd like to add a couple of comments b/c that particular comment is probably due to me
Yes, the zero cross is not a MACD signal in Phillip's original pdf. It also is not a "made up signal." Last year (early summer?) I did a lot of testing and one of the things I tested was E/J and posted on this site. The journal references zero crosses as an entry signal and was very effective. It is in my tool box as a potential momentum signal for a shift in direction and has often produced trades with large (100+) rewards. It was also discussed on the forum and I posted my observations and use of it -- especially when the MACD had formed a RB from an extreme level and the MACD has crossed -- quickly, I consider it a change in momentum and often can indicate a change in direction. When the market is in rhythm, and when the market shows price action per my "red flag" signals (ie. rejection of resistance, break of support, break of resistance) -- I take a zero cross as a valid signal.
So, I appologize to the newer poster who was accused of making up signals. This was not the case -- instead, they were posting something they most likely had seen referenced within previous posts. As with all aspects of a discretionary system, one must test for themselves and see what the objective results are. Test on paper, test on demo and test live. The only way many of us learn to trade is by experiencing it ourselves -- we learn a bit from reading, but learn most from doing! Good luck and may all your trades produce positive results!!
Certainly looks good for some big moves in December, do you recall the post numbers. I would like to reread those?? I did a search but no luck....
- #10,167
- Jan 8, 2008 8:19pm Jan 8, 2008 8:19pm
- | Joined Apr 2005 | Status: Cruising The Outer Rim... | 2,175 Posts
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Certainly looks good for some big moves in December, do you recall the post numbers. I would like to reread those?? I did a search but no luck....
For all those who ask about Inside Tops...I always say I'm going to post more info and never get to it.....Post 1710 is excellent....also, search through all my posts in March and April.....All the info is there...combine that w/TamKras' replies and you will def. see how I identify the levels.
Happy trading!
- #10,169
- Jan 8, 2008 10:13pm Jan 8, 2008 10:13pm
- Joined Oct 2007 | Status: follow momentum. | 1,202 Posts
- #10,173
- Edited 1:48am Jan 9, 2008 1:42am | Edited 1:48am
Phillip's system works both on trending market and range. But, we have neither now , only consolidation. So, I'm doing a lot of backtesting, here is what I have written in my journal, maybe it will be helpful for someone.
Backtesting
Write the Market Rhythm, MA's, support/resistance, IT, TL, figures, candles and then wait for the MACD to pull the trigger. Write down everything: entry, SL, TP. Use F12 to move the candles. And then very carefully note the result, why the trade resulted in loss or why it was so successful, or why you didn't take the trade - to make summary in future.
Here are some points I noted from my backtesting (thanks to Donna for this):
1. When there is a divergence at the end of the trend, to take TC's is very dangerous, they are very fake.
2. Don't take marginal signals on MACD.
3. 21 and 8 should not be interlaces.
4. If you can't put the SL in proper place - miss the trade.
5. The body of the candle should close above/below the consolidation area.
6. Pay attention to the sup/res.
7. Be very careful when the price is in consolidation.
Please, note these are my personal observations from backtesting.
PS Oh, Palmer - the address please))
, only consolidation. So, I'm doing a lot of backtesting, here is what I have written in my journal, maybe it will be helpful for someone.Backtesting
Write the Market Rhythm, MA's, support/resistance, IT, TL, figures, candles and then wait for the MACD to pull the trigger. Write down everything: entry, SL, TP. Use F12 to move the candles. And then very carefully note the result, why the trade resulted in loss or why it was so successful, or why you didn't take the trade - to make summary in future.
Here are some points I noted from my backtesting (thanks to Donna for this):
1. When there is a divergence at the end of the trend, to take TC's is very dangerous, they are very fake.
2. Don't take marginal signals on MACD.
3. 21 and 8 should not be interlaces.
4. If you can't put the SL in proper place - miss the trade.
5. The body of the candle should close above/below the consolidation area.
6. Pay attention to the sup/res.
7. Be very careful when the price is in consolidation.
Please, note these are my personal observations from backtesting.
PS Oh, Palmer - the address please
))
- #10,178
- Jan 9, 2008 2:15am Jan 9, 2008 2:15am
- Joined Apr 2007 | Status: Trader | 1,021 Posts
I don't know how to use, it seems that nothing has happened
F12 is for back testing and it takes the chart forward candle by candle.
For using it first go to the CHARTS on top of your platform and turn off the
'Auto scroll" and "Chart shift" by clicking on them.
now you can go backward in the chart and start your backtesting using F12.
Mike
Failure, is a wonderful teacher!
- #10,179
- Jan 9, 2008 2:28am Jan 9, 2008 2:28am
Hey Saka,
F12 is for back testing and it takes the chart forward candle by candle.
For using it first go to the CHARTS on top of your platform and turn off the
'Auto scroll" and "Chart shift" by clicking on them.
now you can go backward in the chart and start your backtesting using F12.
Mike
Plan your trades and trade your plans
- #10,180
- Edited 3:02am Jan 9, 2008 2:47am | Edited 3:02am
hello, i am having this problem with my macd indicator , wondering if anyone else has it, here is a screen shot of GU just taken at same time on diff charts on same platform, on one macd is red , on other it is green. when i woke up at 0800 gmt/0300 EST the macd on the chart was green but now it turn red. The GU short i took as TC at 0400 candle couple of days ago had the same problem, the macd was green when i checked at 0700gmt /0200 est, so i enter at 0400-0800 gmt signal candle but later it turn red . i thought my eyes were playing a trick on me at 2AM est. but now it just happen again. i saw the bounce of 21 to go short . Price had gone above 21 , came back below it then move up to it agian before moving down so it was all according to rules .but MACD was still green so i skippped it but now 40 minute later it turn red. any one else have this problem ???
EDIT: now the other chart has also macd turn red. what nice trade that i missed
EDIT: now the other chart has also macd turn red. what nice trade that i missed
TRADE WHAT YOU SEE... FOCUS ON SUCCESS