Technical Trading - my 2 cents !!!!

[tss42]

This is only the code for the CCI.
The Macci is a 5 period SMA of the CCI.
Glenn

Agree. The different results people seem to get must be due to differences in the type of MA used or something similar.

 

[iq200]

This is only the code for the CCI.
The Macci is a 5 period SMA of the CCI.
Glenn

Glenn, If you look carefully, at the Plot1 call, the indicator code does actually call the SMA function (Average) with the CCI value as input before plotting it! In any case if you try the code I posted you will find it does yield the same result as MACCI.
Cheers,
Imran

 

[Glenn]

Glenn, If you look carefully, at the Plot1 call, the indicator code does actually call the SMA function (Average) with the CCI value as input before plotting it! In any case if you try the code I posted you will find it does yield the same result as MACCI.
Cheers,
Imran

Quite right, my apologies. So much for me checking twice before posting !
I'm not used to seeing calcs in a plot statement.
Must get me glasses cleaned - lol

Cheers
Glenn

 

[LuckyBucks]

Hi Zak,

Yes, the MACCI of the DOW should be O/B when you take the 'short' position, but, I am referring to the 10 min timeframe. Please don't get caught up into a number, like '100', it means little, it is about the 'area' first, so could be 94, 96, 102, 112 etc etc and then critically the 'turn' on the 10 minute timeframe.

I am entering stocks (short), which are fundamentally weak and then technically overbought. I use the 10 min INDU MACCI to time my entry. I do not use the INDU MACCI on a daily basis at all.

About 1%.

I would enter positions as the opportunity arises, i.e. fundamentally and technically. But, obviously I have to pay close attention to my buying power and so my account size.

Iraj, has posted an ela to calculate your position size

Hope this helps.

Vegas

Hi Vegas,

Ok thats all clear.

One more question if I may.

On the friday (for example), our stock is overbought on the daily MACCI chart.
On the monday we enter our weak stock when the MACCI of the DOW is overbought on the 10 min chart, and ideally when the 1min chart of the stock is overbought.
When the MACCI of the DOW on the 10min is overbought, is it better if the DOW is above the 50% or below 50% of the range of the day? Or does it not matter? We already know its best to have the stock near the lows of the day, and entry for a swing trade is best entered during the evening session.

thanks

Zak

 

[evostik]

(Paper) Swing Shorts

Using a sim acount I have with IB, I took short positions today on the following stocks from Grey1's weak list:

FDO
DLTR
HD
LOW
LTD
BIG
KBH
PHM

Position sizes were from Grey1's indicator.

It would be interesting to hear if anyone has any comments on my stock selection.

Cheers
Steve

 

[vegas]

Hi Vegas,

Ok thats all clear.

One more question if I may.

On the friday (for example), our stock is overbought on the daily MACCI chart.
On the monday we enter our weak stock when the MACCI of the DOW is overbought on the 10 min chart, and ideally when the 1min chart of the stock is overbought.
When the MACCI of the DOW on the 10min is overbought, is it better if the DOW is above the 50% or below 50% of the range of the day? Or does it not matter? We already know its best to have the stock near the lows of the day, and entry for a swing trade is best entered during the evening session.

thanks

Zak

Hi Zak,

To answer, it does'nt matter regarding where the DOW in 'points' are.

Regards,
Frank.

 

[vegas]

Using a sim acount I have with IB, I took short positions today on the following stocks from Grey1's weak list:

FDO
DLTR
HD
LOW
LTD
BIG
KBH
PHM

Position sizes were from Grey1's indicator.

It would be interesting to hear if anyone has any comments on my stock selection.

Cheers
Steve

Hi Steve,

My comments are :

Bet you wished these were for real....lol.....great moves no doubt

Seriously though,

Positives are :
1. Good direction, i.e. all overbought and so for Shorting
2. Plenty of room to come down i.e. to oversold, so very nice

Negatives are :
1. Dangerous to be taking such position so close to Fed Decision next Wednesday
2. You are not sector diversified enough, the choices you took seem to be either retail or builders, and so, only based on the Daily MACCI.

Hope this helps.

Frank.

 

[evostik]

Hi Steve,

My comments are :

Bet you wished these were for real....lol.....great moves no doubt

Seriously though,

Positives are :
1. Good direction, i.e. all overbought and so for Shorting
2. Plenty of room to come down i.e. to oversold, so very nice

Negatives are :
1. Dangerous to be taking such position so close to Fed Decision next Wednesday
2. You are not sector diversified enough, the choices you took seem to be either retail or builders, and so, only based on the Daily MACCI.

Hope this helps.

Frank.

Hi Frank

You're not joking about wishing it was a 'real' trade! On a serious note, though, thanks for your comments. I see what you mean and will take this on board. In particular, the sector diversification was something I thought about at the time and I accept I need to be more vigilent here.

Anyhow, have a great weekend.

Cheers
Steve

 

[Grey1]

Using a sim acount I have with IB, I took short positions today on the following stocks from Grey1's weak list:

FDO
DLTR
HD
LOW
LTD
BIG
KBH
PHM

Position sizes were from Grey1's indicator.

It would be interesting to hear if anyone has any comments on my stock selection.

Cheers
Steve

Evostic ,,

You probably made some money to day using the short list already but as VEGAS said you took it 3 days too early ,,, Remember what I said Market first Stock second.


In anticipation to Bernanke's speach on wednesday there is usually a tendency for traders to buy the market so Please follow the rules I set out other wise you get disappointed .. We closed 3/4 of our postions on Thursday for the same reason ,,


Grey1

 

[jayjay121]

grey how do we actually sector diversify in practice?

you say to take two stocks from each sector, well how do we do this if we get more than two signals from the sector or only signals from 1 or 2 sectors?..........



jason

 

[Grey1]

grey how do we actually sector diversify in practice?

you say to take two stocks from each sector, well how do we do this if we get more than two signals from the sector or only signals from 1 or 2 sectors?..........



jason

Just choose 2 stocks from each sector that is all,,, simple enough

 

[jayjay121]

Just choose 2 stocks from each sector that is all,,, simple enough

ok thanks for clarifying,



jason