Zerolag MACD

I don't want to confuse anyone but I want to show something why we only look for divergence on 5,10,5 and entry on 12,24,9. why we keep those functions separate...

If there is divergence on 12,24,9 that is good as long as divergence is also there on 5,10,5.. That further confirms a good entry. But 5,10,5 is the primary concern for divergence.
In the screenshot, there is divergence on 5,10,5 but the exact opposite on 12,24,9. But it is good trade. 12,24,9 only should be used to find the entry point at a cross..

Spreads tend to be little wider in Asian session ...

caught this on screenshots...

how when candles are approaching s or r it is better to wait until they actually reach the s or r even if there is divergence. There very often is a little pressure that drives the candles to the s or r before it reverses...

Evidently there are order waiting there and the brokers jump to catch them...

1min +2.7

right in the middle of the trade lost connection, yikes, that's why I use the emergency stop and limit...connection came back on after a few seconds...

entered short on 5min. I prefer 1 min charts because there is usually so little dd.
This is a little tricky because it is right at Frankfurt open. It is pulling back from reisistance so there should be some downside...

5 min +3.1

pete (1 min)

EURUSD showing all kinds of divergence on 15m, 30, and 1hr charts.

little out of my league but The indications for short are confirmed on several time frames.
entered short on 30 min chart.
Do so dislike dd, looking to get into profit quickly...

I think I'm finally getting cured of trying to trade any other time frame than the 1 min...

Entered on the 30 min chart signal. But the volatility causes so much dd and risk.
they say the 1min is the most risky to trade. I don't see it. I think it is the least risky to trade!!!

So it appears they may be the usual spike at London open as the brokers try to grab the stops and limits before heading down.

the strategy is good. But nothing is 100%.

I personally can't live with drawdown.

Maybe I will remember this the next time I am tempted to trade something other than the 1 min.

Maybe this is the last time I fall for the temptation. It's just not the way I want to trade.....

So there you have it, my confession....

Perhaps a better way for me to approach this, given my risk tolerance, which is almost 0, is if I see that there is downside on higher time frames I could favor short position on the 1min.

I know what happened this time. I thought (that's the problem right there...., I thought) anyway, I saw that there was downside on the higher time frames and I though I might miss entries because if the move was fast there would be no entry points using divergence. So greedy little me got in without carefully looking for an entry.

In a sense it would be better for me in the long run if I have to take a hit on this, no pain no gain, if I manage to be lucky and come out ahead I may be tempted to do it again.

Whatever.... this just isn't the way I want to trade...

discipline is the secret to success.

I moved the stop a little further away because I'm pretty sure this is stop and limit order hunting by the brokers right after London open. It is a very lucrative part of their business. they can see where the stops and limits are. When a new market opens the brokers go shopping.

Another aspect to my lamentation about taking a trade on anything other than the 1 min. is that I have to sit in the thing for who knows how long. I could have taken 4 or even 5 1 min trades by now.

What I am counting on is the next time the opportunity is there and it looks really good on a higher time frame I will catch myself and remember these things.

Time, drawdown, and risk are all increased on the higher time frames.

Hello Jiva,

I like this one as it reminds me of my temporary indiscipline

Excellent thread, simple but useful method, 2 components which I prefer most!

One short question concerning your stop loss management, do you consider exiting a trade if you have contrary signals? E. g. you are short and the 1) the 5-10-5, and afterwards the 12-24-9 produce long signals ? Or do you stick to your trade and wait for hitting the original SL ?

Thanks in advance ....

Best wishes!

+3.8

No doubt the candles are going to the 200ema and r1. But I've had enough. It's just not my way of trading..
first sign of gain and I am out.....................
Back to my comfort zone, the 1minute....

I want to remember the distress from this the next time a higher time frame flashes me a "come on".

Remain faithful.

cool

analysing is one thing...but the hard one is to place trades with a divergence and earn profits out of it...

this is hard.

support and resistance is important

As soon as it becomes obvious that it is a bad trade I get out...
that could happen in any number of ways.
What yu have described is one way. Also I look at the 5 min and 15 to see if they are supportive of the trade.

These trades are generally so quick it is not a problem. The losing trades I have had have been when I have deviated from the actual strategy.

My stop loss is there only in case of power failure and I can't access the platform...

yep

back in the groove...

1min +2.8

Thanks for the great thread. Im newbie in forex world and this thing seams to work well.

I have traded about 5 months with small money and the results havent been good. But i found this thread couple of days ago and these have been the first 2 winning days in a row. I know this isnt anything in large scale but for me this is huge thing

Ill report back how it goes.