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i understand that its hard to know what to do when price are at the mid line
i was testing Stochastic Fast for this purpose and maybe this can help
personally i will not use it but i will watch it for the next week to see in real time if this is working
so the idea is like this:
1. add Stochastic fast with the setting of 3,12 show only %K
2. add constant line at the 50 level on the stochastic panel
when price are at the mid line check if Stochastic is above the 50 buy
when price are at the mid line check if Stochastic is below the 50 Sell
now if Stochastic are at oversold area when price at the mid line you can buy
I DIDNT TEST THIS!!!!
but from what i see in the chart its looks like it works
now if you are programmer and you read this post and you can take this idea and show this as histogram with colors i will really appreciate this.
thanks
Ben.
Keep on sowing your seed, for you never know which will grow -- perhaps it all will.
Hi Ben,
Thank you for your ideas. How do you know that the stoch is going to cross zero? To me there is just as much indecision there on the collective cross as there is on that stoch cross. They both look like the same thing. Both happen at the same time. For instance look at the second stoch cross where price touches zero and then launches back up. I may have had it in mind to go short there if the 15 minute said it was ok.
sto need to be above 50 not crossing 0 i just added a line at the 50 on sto and if sto is above that line and price is at the mid line i like to buy it
maybe all of us who using CMA should check this for a week and see if this is working
as i mention i didnt trade this setup and this idea came after people ask me about the slope and what to do in the mid line
i will watch it tomorrow and see the results as you can see if i have this setup today i wasnt loosing $800 on my failed trade
Keep on sowing your seed, for you never know which will grow -- perhaps it all will.
Sure I will check it out with you. I took the first trade you took today at the exact same spot and got out a little higher than you (makes me feel good ). The rest you took were pretty awesome. Makes me feel like I need to grow a pair.
I just realized that I said it needed to be crossing zero and I meant 50.
I just ran through this period on Market Replay and had a couple of questions about how you apply those rules:
1/ Why did you not go long on any of the bar closes between 8.40 and 9.05 (your time) as the slope was up?
2/ Why did you not go long at the close of the downbar at 9.45 as price was above the midline with the slope up. Was it because that bar was such a strong down bar you used your discretion?
after i win in a trade i get more picky so i dont take every setup
its true that the setup was there but wasn't perfect for me but if you do take those trades you will win (maybe only 1st target )
as for the second pull back to the mid line - i wasnt next to my computer but still good trade and i took the next bar
hope this helps
ben
Keep on sowing your seed, for you never know which will grow -- perhaps it all will.