Hi,
Have some experience, don't feel like a guru yet, but what I'm sure of is:
Rangy market takes more of my money and the best for my wallet would be to avoid them.
Trying to catch the wave gives me so many loses, that spectacular rides hardly cover them.
Here's what I'll backtest now.
1. Wait for trend.
2. Make sure it's trend.
3. Wait for little retracement.
4. Jump in on breakout.
Before breakout it might happen that retracement becomes another rangy period what I want to avoid.
Minus is not too many trades
Plus not too many loosing trades
Minus it's vewy vewy scurvy on lower TF like 15M [I have some trick for this one too ;-) ]
So let's lern by practise. My idea is simple:
ad1. Waiting
ad2. When MACDcrosses below 0 crosses up for Long and v. versa for SHORT
ad3. secret_eyball.ex4 is perfect for that [can't find it on FF]
ad.4 as said and shown on pictures
Good examples, after MACD cross and retracement I've marked Entry level
http://i33.tinypic.com/fp8pjn.jpg http://i38.tinypic.com/b3my3d.jpg
Bad examples, I've tried to explain why there's no entry [no proper breakout after retracement, or cross on MACD didn't confirmed by price action [PA]
http://i34.tinypic.com/1snkua.jpg http://i35.tinypic.com/2mw8lxs.jpg
Of course there is some time for tears...
Retracement did not occure, so this method didn't gave a signal
http://i38.tinypic.com/id50z5.jpg
For some final comments:
This is not a method as it is. It's more for general idea of what am I search for. Have some more complex system for this in my arsenal, but think of share it later in case some nice discussion appeare and some smart update for what I wrote now.
What I mean is i don't wanna mess with general idea now by show some complex complicated method. For now think it's better to show naked idea with some simple indic for ilustration. If you have some better indics than MACD for what I show, any comments, anything I'll really apricieate [My ego will as well ;-) ]
PS.
#CLU8 - stands for crude oil future
Have some experience, don't feel like a guru yet, but what I'm sure of is:
Rangy market takes more of my money and the best for my wallet would be to avoid them.
Trying to catch the wave gives me so many loses, that spectacular rides hardly cover them.
Here's what I'll backtest now.
1. Wait for trend.
2. Make sure it's trend.
3. Wait for little retracement.
4. Jump in on breakout.
Before breakout it might happen that retracement becomes another rangy period what I want to avoid.
Minus is not too many trades
Plus not too many loosing trades
Minus it's vewy vewy scurvy on lower TF like 15M [I have some trick for this one too ;-) ]
So let's lern by practise. My idea is simple:
ad1. Waiting
ad2. When MACDcrosses below 0 crosses up for Long and v. versa for SHORT
ad3. secret_eyball.ex4 is perfect for that [can't find it on FF]
ad.4 as said and shown on pictures
Good examples, after MACD cross and retracement I've marked Entry level
http://i33.tinypic.com/fp8pjn.jpg http://i38.tinypic.com/b3my3d.jpg
Bad examples, I've tried to explain why there's no entry [no proper breakout after retracement, or cross on MACD didn't confirmed by price action [PA]
http://i34.tinypic.com/1snkua.jpg http://i35.tinypic.com/2mw8lxs.jpg
Of course there is some time for tears...
Retracement did not occure, so this method didn't gave a signal
http://i38.tinypic.com/id50z5.jpg
For some final comments:
This is not a method as it is. It's more for general idea of what am I search for. Have some more complex system for this in my arsenal, but think of share it later in case some nice discussion appeare and some smart update for what I wrote now.
What I mean is i don't wanna mess with general idea now by show some complex complicated method. For now think it's better to show naked idea with some simple indic for ilustration. If you have some better indics than MACD for what I show, any comments, anything I'll really apricieate [My ego will as well ;-) ]
PS.
#CLU8 - stands for crude oil future