Hi John, welcome to T2W ! I have NEVER EVER used Keltner bands, do you keep these on standard settings ??
Will check them out
Thanks
Hi John, welcome to T2W ! I have NEVER EVER used Keltner bands, do you keep these on standard settings ??
Will check them out
Thanks
keltner bands
hello--the kelt settings are 8, 1.3,14. w/in the trend like today's down trend, i look to sell when the price comes back between the mid to upper kelt band. then ride the price down, making sure each 'down level' or new low on the 3 minute chart is not penetrated. then i will stay in the trade as seen in today after 3pm sell off.
prior to that, i shorted after 1pm when the market failed to take out the active high, near the top of the kelt band. when i figure out how to post a thumbnail chart i will do so.
so what general strategy do you use on this vehichle? pivot points etc?
john
hello--the kelt settings are 8, 1.3,14. w/in the trend like today's down trend, i look to sell when the price comes back between the mid to upper kelt band. then ride the price down, making sure each 'down level' or new low on the 3 minute chart is not penetrated. then i will stay in the trade as seen in today after 3pm sell off.
prior to that, i shorted after 1pm when the market failed to take out the active high, near the top of the kelt band. when i figure out how to post a thumbnail chart i will do so.
so what general strategy do you use on this vehichle? pivot points etc?
john
A couple of things I've noticed I thought I'd share.
Firstly divergence is also a useful thing to keep an eye on. I've not seen a statistically significant number but the few times I've seen a trade setup occur after MACD has diverged from price it has always been followed by a strong move. Thus far I definitely feel more confident taking these set ups and will keep a watch on the phenomenon.
Secondly it seems some decent moves can be had out of hours if one has the patience and time to let them run. When I'm home I usually leave the computer running all day, checking the charts whenever I come in to check email or surf the next or do other work on the computer. So I'm not specifically trading but I flick over to the charts every 5 mins or so. Today, just following the system without any changes or discretion would have resulted in 8 trades. 6 winnners and 2 losers. Net gain of 7.75 points(disregarding slippage and commissions). That was over six hours. Not every day has been like this but many have shown nice clear, slow, low risk trades where 1-2 points could have been picked up. Not bad for me when I'm doing other things anyway. Definitely something I'm going to keep my eye on.
Cheers,
PKFFW
Firstly divergence is also a useful thing to keep an eye on. I've not seen a statistically significant number but the few times I've seen a trade setup occur after MACD has diverged from price it has always been followed by a strong move. Thus far I definitely feel more confident taking these set ups and will keep a watch on the phenomenon.
Secondly it seems some decent moves can be had out of hours if one has the patience and time to let them run. When I'm home I usually leave the computer running all day, checking the charts whenever I come in to check email or surf the next or do other work on the computer. So I'm not specifically trading but I flick over to the charts every 5 mins or so. Today, just following the system without any changes or discretion would have resulted in 8 trades. 6 winnners and 2 losers. Net gain of 7.75 points(disregarding slippage and commissions). That was over six hours. Not every day has been like this but many have shown nice clear, slow, low risk trades where 1-2 points could have been picked up. Not bad for me when I'm doing other things anyway. Definitely something I'm going to keep my eye on.
Cheers,
PKFFW
black bear
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Open Hour range might help with whips
Hi all
Only quick drop in post :cheesy:
Noticed your threads growing and just a thought for all interested, traded very close to your method quite a bit back with very ok results, just was not for me and moved on.
Bracket the open hours range with a couple of lines on the chart, same with yesterdays high and low. Think you will find you can identify bad and good trade set ups better after a little practice.
Dinos suggested ideas are very good to IMO if you like this method of trading.
Trade well and good luck all
Andy AKA
Hi all
Only quick drop in post :cheesy:
Noticed your threads growing and just a thought for all interested, traded very close to your method quite a bit back with very ok results, just was not for me and moved on.
Bracket the open hours range with a couple of lines on the chart, same with yesterdays high and low. Think you will find you can identify bad and good trade set ups better after a little practice.
Dinos suggested ideas are very good to IMO if you like this method of trading.
Trade well and good luck all
Andy AKA
Windowsill
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The points are small, but what concerns me, if one more trade went wrong would that mean a further -10? It seems to be a poor risk/reward ratio. I agree with working 1/3 min charts i think its easier to concentrate when you know a trade will soon happen!
My first trade with this System
Hi, this is my first ever post!
I placed my first real trade with this system on the FTSE100 Rolling Daily today.
I entered at 6402.8 and exited half at 6411.8 and the other half at 6410.3 as momemtum began to turn downwards.
I entered the trade on 1m timeframe, at the start of the 3rd bar as price crossed the 20SMA. However, I think I will try the 2nd bar as it rises above the 1st bar in future. I exited the trade on the sixth bar. I set my relative MACD Histogram overbought levels to give me an idea of when the price might start to pullback. This helped me with my exit. I also exited the trade as the price moved outside the upper Bollinger Band level (20,2).
I waited a little to see if the price would walk the upper band, but decided that the general trend was downwards today anyway and I took a risk by going long below the moving averages, which I wouldn't normally do. I also had a chart pattern buy formation forming, a double bottom off the lower Bollinger Band. The first low formed outside the lower band and the second low formed inside the bands which is usually a good rally signal.
I have the RSI indicator under the MACD to use as a confirmation signal for my exits. Lucky for this trade I had an overbought MACD, RSI just turning down before it hit 70, and the price turning down from the upper Bollinger Band. I prefer to exit as things start to turn down from overbought levels.
Thanks for this system, it has given me lots of ideas to play with. Thanks for all the informative and interesting posts.
Maybe it was just beginners luck! Time will tell.
Hi, this is my first ever post!
I placed my first real trade with this system on the FTSE100 Rolling Daily today.
I entered at 6402.8 and exited half at 6411.8 and the other half at 6410.3 as momemtum began to turn downwards.
I entered the trade on 1m timeframe, at the start of the 3rd bar as price crossed the 20SMA. However, I think I will try the 2nd bar as it rises above the 1st bar in future. I exited the trade on the sixth bar. I set my relative MACD Histogram overbought levels to give me an idea of when the price might start to pullback. This helped me with my exit. I also exited the trade as the price moved outside the upper Bollinger Band level (20,2).
I waited a little to see if the price would walk the upper band, but decided that the general trend was downwards today anyway and I took a risk by going long below the moving averages, which I wouldn't normally do. I also had a chart pattern buy formation forming, a double bottom off the lower Bollinger Band. The first low formed outside the lower band and the second low formed inside the bands which is usually a good rally signal.
I have the RSI indicator under the MACD to use as a confirmation signal for my exits. Lucky for this trade I had an overbought MACD, RSI just turning down before it hit 70, and the price turning down from the upper Bollinger Band. I prefer to exit as things start to turn down from overbought levels.
Thanks for this system, it has given me lots of ideas to play with. Thanks for all the informative and interesting posts.
Maybe it was just beginners luck! Time will tell.
Yes if you followed every signal it might mean further -10's. However a degree of common sense is required. If you take this afternoon on the FTSE, pretty much untradeable, you would have taken hits on most setups on a 1 minute time frame this PM because action was so wild. When the market is like this, engage brain and stand aside.
I do see what you are saying though, you DO NEED to have a little knowledge of "the market" to know when to trade or when not to trade, or as you have put "when you know a trade will soon happen"
With a large fear of repeating myself, no system/setup is fool proof or holy grail esque. In my opinion this setup requires very little interpretation and it's just a case of adopting a disciplined approach to make your profit.
Hi, this is my first ever post!
I placed my first real trade with this system on the FTSE100 Rolling Daily today.
I entered at 6402.8 and exited half at 6411.8 and the other half at 6410.3 as momemtum began to turn downwards.
I entered the trade on 1m timeframe, at the start of the 3rd bar as price crossed the 20SMA. However, I think I will try the 2nd bar as it rises above the 1st bar in future. I exited the trade on the sixth bar. I set my relative MACD Histogram overbought levels to give me an idea of when the price might start to pullback. This helped me with my exit. I also exited the trade as the price moved outside the upper Bollinger Band level (20,2).
I waited a little to see if the price would walk the upper band, but decided that the general trend was downwards today anyway and I took a risk by going long below the moving averages, which I wouldn't normally do. I also had a chart pattern buy formation forming, a double bottom off the lower Bollinger Band. The first low formed outside the lower band and the second low formed inside the bands which is usually a good rally signal.
I have the RSI indicator under the MACD to use as a confirmation signal for my exits. Lucky for this trade I had an overbought MACD, RSI just turning down before it hit 70, and the price turning down from the upper Bollinger Band. I prefer to exit as things start to turn down from overbought levels.
Thanks for this system, it has given me lots of ideas to play with. Thanks for all the informative and interesting posts.
Maybe it was just beginners luck! Time will tell.
Glad you enjoyed some success with it. All I would say...having been a beginner myself (not saying I'm George Soros here) but too many indicators can throw you off. I find to many indicators gives me too much information, then information Paralysis sets in. One tells me the market is coming off another tells me it's rising.....But whatever works and by the looks of it you have made some profit....profit is elusive in this business...so well done to you...
What the heck are MR's?
Hi Develbis,
I don't get it MR's, could you please explain that?
Hi nkruger,
Ill sell y the MRs,
works similer to the macd except when it starts to flash red
she"ll shout teas ready and the indexs just take off, its the only forward indicator you"ll ever need
Priceless
Andy , just out of retirement for one night only
Hi Develbis,
I don't get it MR's, could you please explain that?
black bear
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Sorry for confusion
Her in doors = the Mrs = My better half
Teas ready dear
All indexs will take off for 60pts
I will return and ----------- not a pt available
Best indicator in the world my Mrs,
Sorry the mrs is not for sale
Priceless
Mrs Develbis
Andy
Well how lucky 4 u Andy.
It would be nice if we could get back to something more useful.
I have been finding this system a little also. The MACD lagging more so than the PSAR, whilst waiting for the 2nd hist. to confirm. Nevertheless it has helped me get a few good wins with it, with heart in mouth trading every signal.
To caydababy1,
A question I would like answered is would you still enter every trade on signal even on a flat market, or do you also look for other factors?
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black bear
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I had a go at the system today. Ftse this morning was excellent but as we approach USA time it got a bit more difficult as the FTSE was trading off the S&P. As far as I could see the only time to be careful this morning was when we had a mini spike but it was very encouraging as it gave quite a few good signals in a time when it can be tricky to trade.
I also tried a couple of AUD/US $ which won. Finally tried US crude-works very well on trend side but tricky going against trend.
Will post further experience as it happens.
I also tried a couple of AUD/US $ which won. Finally tried US crude-works very well on trend side but tricky going against trend.
Will post further experience as it happens.
ok...back with a solid internet connection.....In a flat market I "try" not to trade. If the market is in a tight choppy range (15-20 points on FTSE) it plays havoc trying to trade it. I like to wait for the first move out of the range or if the range breaks I might trade too I then will assume business as normal. All of my losses using this setup have come from trying to trade in a tight range.
I've been finding the same. Ranging market gives alot of whipsaws.
Now I wait for price to clearly break the range before entering. I also find it gives some great "re-enter the trend" type signals too.
Picked up a perfect entry this morning on the S&P emini for 6.25 points. That was after 1 stop out for -1.5 points. So a nice 2 hours for me.
Cheers,
PKFFW
I've been finding the same. Ranging market gives alot of whipsaws.
Now I wait for price to clearly break the range before entering. I also find it gives some great "re-enter the trend" type signals too.
Picked up a perfect entry this morning on the S&P emini for 6.25 points. That was after 1 stop out for -1.5 points. So a nice 2 hours for me.
Cheers,
PKFFW
hi pkffw,
what t/f are you using ??
Your STRAT
62 points in the opening 2 hours. My favorite time to trade. It worked really well for me today. Perfect set ups.
Regarding your tip on FLAT markets! The last trade could of gone in any direction. A sample of it going flat came up on the last trade, so as it wasn't clear enough I dissided to X it.
In the picture are arrows which indicates entries and exits, trading the FTSE on the ABN platform showing account balance and fills.
62 points in the opening 2 hours. My favorite time to trade. It worked really well for me today. Perfect set ups.
Regarding your tip on FLAT markets! The last trade could of gone in any direction. A sample of it going flat came up on the last trade, so as it wasn't clear enough I dissided to X it.
In the picture are arrows which indicates entries and exits, trading the FTSE on the ABN platform showing account balance and fills.
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At the moment I'm using 2 min t/f. I'm experimenting with 50-100 tick charts rather than time charts though to see if that makes a clearer picture to me or not. Unsure at this time.
Something else I thought I'd mention is that the best moves seem to happen when the psar and macd line up within a couple of bars of each other. That's not always the case of course but so far I've noticed it enough to want to look further at it.
Cheers,
PKFFW
EMA and SMA
I have also added the SMA 6 and EMA 12 which also helps confirmation.
Dear PKFFW,
To the entry. You need to just trust the signal how its been given otherwise I wouldn't be game at all. It's that simple really. Of course there will always be the odd bad signal. Just watching the FTSE in the last couple of weeks, I find it an easier market to trade than the dax which is jumpy most of the time and less predictable.
I dont know much about S&Ps but you seem to be doing just fine.
I have also added the SMA 6 and EMA 12 which also helps confirmation.
Dear PKFFW,
To the entry. You need to just trust the signal how its been given otherwise I wouldn't be game at all. It's that simple really. Of course there will always be the odd bad signal. Just watching the FTSE in the last couple of weeks, I find it an easier market to trade than the dax which is jumpy most of the time and less predictable.
I dont know much about S&Ps but you seem to be doing just fine.
Absolutely. I will do my best to keep things simple. I've been paper trading this system for a while now. All kinds of problems in flat/ranging markets. This seems typical of MACD and moving average based systems. I think the secret is to try to get in the breakouts and trends. I am testing different methods at the moment to help me stay out of the whipsaws. I'll post my results when I have time.
regards.
