100-300 Pips Per Day Any Pair Any Timeframe Using 2 Indicators - page 21
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krock,
This might be a great answer to everyones take stoploss and take profit. This is quick, easy, and takes out emotion. Thats always a good thing in trading.
I use a variety of things to determine stoploss and take profit. Bol Bands, SHI Trend Channel, Fibs etc. Those take a little practice to determine. This on the other hand might be the K.I.S.S. that goes right along with both trade set ups.
Thanks again for your contribution.
JS
P.S. I included a picture to see if I understood you correctly.You got it! On the higher time frames might be good to shoot for 2x atr value. But it doesn't get anymore KISS than that.
Hope that helps anybody that has problems with there targets!
I thought trades were entered only when the MACD first crossed. And the other method was for H1 charts. But I see a lot of charts with trades breaking support anytime anytime as long as MACD is over or under the zero line. So which is correct for the first method, only when MACD crosses, or as long as MACD is over/under zero line?
MacD cross
I thought trades were entered only when the MACD first crossed. And the other method was for H1 charts. But I see a lot of charts with trades breaking support anytime anytime as long as MACD is over or under the zero line. So which is correct for the first method, only when MACD crosses, or as long as MACD is over/under zero line?
Hey Rob,
I was having a little time with this also. I believe in system 1 when the MacD crosses the zero on the first or second line and the price breaks support or resistance in the same direction that would be a entry signal.
On system 2 I believe that the MacD should be maxed out either up or down and entry would be on the pull back of the next line after the three shows up. I actually have little flowers instead of a three but it seems to be the same.
I made a note the the S/R is a MacD cross and the Flower is a Macd pull back for entry signal....
Where do you find the atr indicator
You got it! On the higher time frames might be good to shoot for 2x atr value. But it doesn't get anymore KISS than that. Hope that helps anybody that has problems with there targets!
Where can you find the atr indicator? Sounds like a nice way to pick a SL or TP. Please put the file into a post. or a link to the post it is included in.
I found it :-)
I located the atr indicator now to study the rules for using it.
For the ATR exit, you can try a scale out exit strategy. Take profit on half the position at 1x ATR, set stop to break even and then take profit on the remainder at 2x ATR.
Or on a good trend and you want to be greedy you can try scaling out in 1/3s. 1/3 at 1x (and stop to breakeven), 1/2 at 2x and the remainder 1/3 at trailing stop of either fixed amount or last fractal low.
I agree that working on the exit rather than adding more indicators for entry is the way to go.
My 2 cents
Art
Would you please tell how to read the value of ATR Indicator? thanks
krock,
This might be a great answer to everyones take stoploss and take profit. This is quick, easy, and takes out emotion. Thats always a good thing in trading.
I use a variety of things to determine stoploss and take profit. Bol Bands, SHI Trend Channel, Fibs etc. Those take a little practice to determine. This on the other hand might be the K.I.S.S. that goes right along with both trade set ups.
Thanks again for your contribution.
JS
P.S. I included a picture to see if I understood you correctly.I wonder if anyone has had any luck today. I made some pips once this morning with system #1, but since then MACD has been kind of flat in almost all pairs, very low peaks. I entered the market with another system, but lost all my trades because of that I think. Weak signals. I wonder if it would be useful to set a minimum level for MACD peak and reversal. I checked CCI and the signals were weak there also.
Chamane
Here is an example of what I mean.
Chamane
Here is an example of what I mean. Chamane
Try system #1 on a 15m chart less noise clean breaks. Remember its not how many pips you get, it's how consistant you are at getting them. Use the method for stops and targets which I posted before and sit back and let the market come to you.