My New Day Trading System-rate and test - page 3
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Well done
I am using it with my set-up and it looks good... well done for sharing mate..
mike
PS Why 2000??
I am using it with my set-up and it looks good... well done for sharing mate..
mike
PS Why 2000??Hey Mike, thanks.
2000 because it creates a pretty good analogue of the price line. It allows us to take the long view on the 1 min chart (zoomed all the way out) and actually make some sense of what's been happening. This is opposed to simply selling or buying on random MA crosses on the 1 hour chart.
It lets us overlay the lines which tell us when to sell or buy but also gives us relative stop losses.
The lines -40, -50, -60 don't equate exactly to the price's movements so that when we get in say right below -60 for a sell trade our stop isn't going to be exactly 10 pips up. It will be more dependent on the volume that's in the currency pair atm.
It lets it breath a little bit. This keeps us in the trade a bit longer then we would otherwise if we were a static stop loss and lets us survive a bit more retraction. After all if we are entering according to the rules we will have momentum on our side but there is still usually going to be some random tug-of-war static.
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How to deal with divergence?
Hey guys and girls,
I'll start calling live trades next week.
How to deal with divergence?
Hey Pava,
With the indie set to 2000 divergence isn't really much of an issue. The indie will pretty much follow the price action.
The price will always be more jagged then the %R and if you zoom in you will see micro divergences at those levels but we aren't really concerned with that kind of static. This is day trading. we aren't scalping.
I suppose if you look hard enough you could find some hidden divergence over longer periods of time (Hidden Divergence: Forex Currency Trading) but I wouldn't look too much into it.
I just realized that that is probably your sig and you deleted your original post so just disregard that I guess.
live trades
cant wait.
mike
?
"I just realized that that is probably your sig and you deleted your original post so just disregard that I guess."????...which post?...I didn't understand
pava is very constructive today -- but I should probably withdraw my finger pointing -- to a fist
quick scalping is hard to master in my opinion
...
pava is very constructive today -- but I should probably withdraw my finger pointing -- to a fist quick scalping is hard to master in my opinion
HeHe...xxxx...Read my posts...check what my profession is:)...you're funny
Hey guys,
Don't be sarcastic, let him prove it!