3674 replies to this topic

[HDB]

I have noticed something. The 5minute chart gives a lot of exit signals (cut of 34ema), which can cause one to exit a trade on the assumption of a trend change due to the signal, although it is perfect for entries that are in the same direction of the market.

This is what I do:

I use the 5 minute chart for entries that are in the direction of the market and use the 15minute chart for exit signals which signal a trend change. For example, on my current short position opened at 45555 this morning, I will not exit the position until the price cuts the 34ema on a 15 minute chart.

It's higher risk as you lose more points, but it helps to know which direction the market is going.
It needs requires patience and belief in yourself...it isn't easy at all.

Nice input!!  Thanks for that!! Better to know what the longer trend is before you exit!!

[Syris]

I have noticed something. The 5minute chart gives a lot of exit signals (cut of 34ema), which can cause one to exit a trade on the assumption of a trend change due to the signal, although it is perfect for entries that are in the same direction of the market.

This is what I do:

I use the 5 minute chart for entries that are in the direction of the market and use the 15minute chart for exit signals which signal a trend change. For example, on my current short position opened at 45555 this morning, I will not exit the position until the price cuts the 34ema on a 15 minute chart.

It's higher risk as you lose more points, but it helps to know which direction the market is going.
It needs requires patience and belief in yourself...it isn't easy at all.

[Bev]

. Thanks HDB.  Your system works for me. 

[vuilhond]

thanks

[HDB]

@hdb..on the daily chart the 3 day broke belowe 13 day..is that of any significance..or should one only look at 5 min charts for trading the alsi?

that's not any confirmed signal for a medium term short!!!

[InSitu]

Why long?? looks like a pullback short to me!!!

Jumping the gun....probably going to shoot myself in the ass with this one. will put a short in as a stop loss

[vuilhond]

@hdb..on the daily chart the 3 day broke belowe 13 day..is that of any significance..or should one only look at 5 min charts for trading the alsi?

[Godfather]

 a trigger for a short on ARI at moment?

[HDB]

as long as 13ema below 34ema.....shorts it is!!  That actually shows trend for the day!!  Only go long once 13ema cuts convincingly over 34ema!!

[HDB]

Long 45510. Made good points on the shorts today

Why long?? looks like a pullback short to me!!!

[InSitu]

Long 45510. Made good points on the shorts today

[mx125]

MM shafted me hard on scalp stops today..usually i set much wider but good to hear others making..well done mx

 

Thx Delta, means a lot comming from you

[delta66]

MM shafted me hard on scalp stops today..usually i set much wider but good to hear others making..well done mx

[mx125]

HDB System works so good for scalping

68 points x3 contracts in total so far for the day.

I must say it took me some time but I am only starting now to trust the signals and to read them correct.

If we break 45500 propperly, next stop 45398

[HDB]

Long CFR - 108.50 - 109.50(slight correction taking place)  Bulll break.  Target 115.00

Nice call...only one green on my watchlist!!

 

Well done Bev....Trust the system!!

[Qbre77]

we are just about on horizontal and trendline support

[HDB]

and short on signal

[HDB]

guys wait till 9.15am and play the system....long or short!!! Do not get sucked in before that!!

[Ninja]

Long nothing, we're on the brink of a multi week/month correction!! Risk ain't worth the reward

[Bev]

Long CFR - 108.50 - 109.50(slight correction taking place)  Bulll break.  Target 115.00