A new week and the bulls have it. LOl Well how about looking for up trends. I've come across an action plan that everyone will know and understand. For me it simple looks as if it works (with a little bit of research). A $10 Ebay special I might add.
Working with your 3 and 6 day exponential moving averages, when the 3 day crosses the 6 day you buy and when the 6 day crosses the 3 day you sell. When in doubt EXIT. S/L set on previous peak or low swing. Daily time frame.
On top of that run with a 20 and 50 day moving average, when 20 is over and above the 50 line it's a long term uptrend.

Saying all that and seeing it work is great. Now I need to watch it work for the week and read a lot more.
I need to use two brokers as I'm watching 8 pairs and I just happen to be COLOURBLIND!! LOL.

TheLastBear posted:
You do know that MA's are lagging indicators, right?


In my opinion all indicators are lagging by definition, as they are based past prices, although that doesn't prevent you from taking advantage of such indicators. Take for example the famous 5/20 ma cross in trending markets which works very well.

skyjack777 posted:

TheLastBear posted:
You do know that MA's are lagging indicators, right?


Yes but looks like a point to start working it out for myself a little. On the laptop I'm working with the Bollinger bands, CCI, RSI and Stockkhstic and Parabolic Sar. All on the one old Acer laptop screen on a 5 minute time frame. Still would rather be on the one minute screen.


IMHO, thats quite a lot to be looking at, especially when you're trading on such a small time frame. Are you looking to have confluence for your trades, or are you looking at which one works the best for you? I'm guessing all these different indicators are giving you conflicting signals. I personally trade with only 1 indicator, but the 5/20 ma cross suggested earlier is also a gem.

-LK

lkwong posted:

skyjack777 posted:

TheLastBear posted:
You do know that MA's are lagging indicators, right?


Yes but looks like a point to start working it out for myself a little. On the laptop I'm working with the Bollinger bands, CCI, RSI and Stockkhstic and Parabolic Sar. All on the one old Acer laptop screen on a 5 minute time frame. Still would rather be on the one minute screen.


IMHO, thats quite a lot to be looking at, especially when you're trading on such a small time frame. Are you looking to have confluence for your trades, or are you looking at which one works the best for you? I'm guessing all these different indicators are giving you conflicting signals. I personally trade with only 1 indicator, but the 5/20 ma cross suggested earlier is also a gem.


-LK

The 3 and 6 run on one Broker platform and the 20 50 on another, all run on a Daily time frame. I1m colourblind so all on te one screen would be too much. I look for the 3 and 6 cross over points to help indicate possible change. The 20 50 chart simply is there for highlighting long term trends.
On the laptop I run in the 5 minute time frame. Here with the Bollinger bands ect, I am watching the turn in trade from down to up at the lower Bollinger Band and acting on the second up candle. Stop loss is set at under the lowest candle and away I go. In a good uptrend it works well, just need to understand the sell instead of the close buy action at the turn down in the trend. I see what it happening, just need to understand it. When it gets to the bottom of it`s run you close the buy or second sell? I`ll get there. Yes getting away from the one minute window is a must. At the moment I am looking at the two different ways suggested to start to understand the diiffence and what will work for me. So right now with 6 small trades active 5 are in the black with 4 out of 6 sell types. Still lost but feel like I have gone forward a little.

Thanks again for all your comments, I am taking them all in and trying to understand what you are all showing me. Thanks.