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[leovirgo]

If I am using the fast macci 6/5 for cycle settings, then for the 1 minute, I should use 6/5, then for the 3 min I should use 6*3/5*3, and 60min 6*30/5*30?

I'm not sure what the 3x multiplier is or where it comes from if this is not the case.

So, if 60 min o/b, look for 3/10 min o/s to go long (with the 60 min trend)? or the opposite, we are looking for higher time frame overbought (60min), and lower timeframe overbought (3/10min) to short for the overbought condition to be releieved first by the shorter timeframe (3/10).

I'm pretty new so please ignore the ignorance

Also, who is grey1?

Thanks... and have a nice day.

The multiplier applies if you want to plot multi-TF MACCI on a single chart. So, on 1min chart, MACCI 6/5 is for its cycle, then if you want 3min MACCI, use (3x6 =18, 5x3 = 15) 18/15 set up as a slow cycle (i.e 3min, For 4min setting use 4 as miultiplier). Usually, 3 to 6 multipliers are used.

As for reveral, basically you look to sellshort after 60 is o/b, then look for 3/10 to o/b again for low risk entry, pls see this post for illustration.

Grey1 is a well seasoned trader who used to be active here but he has left due to his own reasons. I also learned alot from the works of Trader_Dante who has Making Money Trading thread for newbies. Just search on this forum. There are many others who are also helping newbies.

The pleasure is mine. So feel free to ask for more. cheers!

 

[leovirgo]

11th May

No trades for today as cycles and internals are conflicting each other. As a result, there is no tradable cycle at H1 level.

Cash INDU = bullish cycle remaining despite heavy pre-market decline
All EQX equity indices = 1st part bearish, 2nd part bullish. Want to go long but internals are firmly bearish. Will wait for another 25 mins and then I will call it a day.

I want to see a small bounce for tomorrow so that I can start sellshort. Lets see..

 

[lj2500]

11th May

Cash INDU = bullish cycle remaining despite heavy pre-market decline
All EQX equity indices = 1st part bearish, 2nd part bullish. Want to go long but internals are firmly bearish. Will wait for another 25 mins and then I will call it a day.

I want to see a small bounce for tomorrow so that I can start sellshort. Lets see..

Hey Leo...What are you looking at for the internals? Are you also running the MACCi on these as well, or just the absolute numbers.

Thanks Bud....

P.S.
I love this thread....learnign SOOOO much about stuff I never knew about...still trying to learn before I make my first trade...

 

[leovirgo]

Hey Leo...What are you looking at for the internals? Are you also running the MACCi on these as well, or just the absolute numbers.

Thanks Bud....

P.S.
I love this thread....learnign SOOOO much about stuff I never knew about...still trying to learn before I make my first trade...

Hi
I watch advancing issues/vols for NYSE as market barometer. I tried to compare them over last few days. If they are up and cycle is also up, you have one more chance that market will go up. cheers!

 

[leovirgo]

CycX Sellshort for YM

I want to see a small bounce for tomorrow so that I can start sellshort. Lets see..

12th May

Yes, it went up and fell as expected.. and yet I missed these very nice set ups. All missed due to 100% tick box policy. I wanna short ES but signal happened for YM and was stubbornly waiting for ES signal.. lol... my only consolation is that I bought YG gold for a good up cycle.

Profits for the day but this kind of miss on vwap engine is inexcusable.

Here is the set up in details... so that it will never ever be missed again...

 

[leovirgo]

13th May

Exactly the same set up as yesterday!!!! What more can I say.

 

[leovirgo]

EQX futs are in bearish territory. But I like INDU Cash position it looks like it's ready for a bounce. Therefore, I will look to go long if internals permit. Otherwise, sell sell sell..

 

[leovirgo]

There was a small bounce in deed. But I didn't take the chance to get on board. Wanted to short it just 30mins before the close but passed it again. So no trade for today. Well, there's always tomorrow.

 

[leovirgo]

15th May Friday

Not a good day for me, so far.

1. Went long ES belatedly on a buy signal that had happend during pre-market session and had to take the loss -3pts. Let it go if not on the right spot.

2. Got another long entry just above yMean but missed it while waiting for lower TF to pullback.. actually probably was too scared to lose again for the day.

3. Then, got a very nice short entry at the very top (not from this VE but a different strategy) and also very choosy about the entry. Hence missed +90pts move on YM. (chart attached).

For the last two weeks or so, I've been using T-mobile mobile broadband (USB stick) with a mere 1mps+ max download speed. Now I've got my home office with 20mps speed broadband and some new chairs but performance-wise theres quite alot of room to improve. I think the seat is not warm enough yet! Shall I start paper trading again with this new office set up? Anyway, enjoy my "plain sell" short.

 

[leovirgo]

18 May

Exit time for long position, entry 890 vwap and exit is 897 for ES. All TF overbought.

 

[leovirgo]

Didn't have time to post for a couple of days. Been busy warming up my chair. lol..
Here is a chart where White Elephants are flying. I've been trying to hop on them. Got some missed some.. Since then, it's all BUY BUY BUY...

 

[leovirgo]

Got a tentative swing short signal yesterday. As my VE is still intra-day system, this signal is for paper trading only. No need to guess the result, working well so far. I will post the set up later when I have spare time.

For today, all futures are in bears territory. Will only look to sell around vwap.

 

[leovirgo]

Hi BD.. nice of you to rep me. thnx! Yeh, its short everywhere. Just short 'em all at vwap.. They are gonna go until ES 881, YM 8186 targets or/and till INDU Cash 60 is OS.

 

[leovirgo]

C'mon ES come to 881.58.

ES low of the day 877.75 exceeding the swing target. What can I say about these SR lines (vwap lines actually)

It was my first paper trading swing signal from ES 909. Hence, paper profts are (909-881=) 28 ES points. The risk was just 6 pts. My normal risk for day trading is around 4-5 pts for ES, so it is not significantly higher than day trade risk but with much larger profit target and less pressure to make instant decisions.

The entry is so clear that I had to resist the temptation to go live on my very first paper trade signal. (The irony is when I actually go live, I may 'look' for entries rather than taking the signals naturally given by the market. )

Day trading range for today is just 7pts (888 to 881), so little compared to swing move. Besides, I gotta look at lower TF and make decisions quickly. With short term trading, I can't trade more than two markets at a time.

Here is the set up chart! Til tomorrow..

 

[leovirgo]

22 May

Got a nice trade out of NQ today. It was just a mean reversion trade, on its way back to vwap. Actually there were three entries, but only took the first one as I was scaling down my activities on a friday evening, also a long weekend as Monday is holiday. Happy with just one profitable trade.

There was a possible long entry. Chronologically, it was like, SHORT, SHORT, LONG, SHORT.

On a day like this, smallest time frame (T400) is good enough to trade. The chart also shows my method to enter short positions at the cycle top.

1. Cycle OB at meanlines
2. yellow reversal bar
3. short after the break of yellow bar

In that way, the upside risk is controlled to some extent. This is just a tactical method, the strategic decision to go short comes from higher TF analysis.

 

[leovirgo]

26th May

It was a sell set up until the open when indices rallied strongly towards their monthly means. VE is set to go long for today. However, if they were rejected at these resistance levels, it will be nice swing shorts. Lets see how they develop over a couple of days.

So my plan is to stay on the buyside, see how far they can go up. Will they re-test or penetrate previous highs?
Once they've become exhausted and come back below monthly means, start swing shorts.

 

[leovirgo]

Choppy price action so far.. strange day where VIX is down and yet Gold/Silver are up. Got a small loss on ES long. Now short DIA (INDU Cash) with tight stop (30 pts) I wanna see a correction after April/May rally.

 

[leovirgo]

I've just got what I wanted- a nice pull back to yMean on DIA. Got out a little too soon as it penetrated yMean more than expected. But its okay. Its a reversal set-up, one of VE's three set ups.

 

[leovirgo]

Reversal Set Up

This is the reversal set up. It rarely happens on futures during market hours but find them on INDU Cash from time to time, notably in consolidation periods.

p.s INDU has fallen further and my exit was way too soon... Disciplinary issue is that I have to stay with 60minute cycle to ride it but I got out prematurely .. probably due to earlier loss in ES long. I know its trading psychology issue I must deal with. I am still at "trading with P&L stage" rather than "trading with set rules for both entries and exits". I am partly achieving rules based entries.. but still need to do more in rules based exits and trade management.

 

[leovirgo]

28 May

I was humbled by the market today. Probably too complacent and confident about VE that I made two errors.

1. ES short: premature entry without following tactical entry method
Stop hit with no run-up profit whatsoever. Straight loser!

2. NQ short: it was a good entry, in fact, 100% box ticked entry.
Seen some profits, time to set break-even and did actually gave orders. Then too confident (or too scared to have left with just breakeven) and changed the orders back to original stoploss. Needless to say, the market turned back ruthlessly and stopped out at full cost.

So in a nutshell, even it was not a good day for VE, it should only be a small loss day. As a consequence, I will not trade tomorrow to do my VE manual. My approach is that if I am not following procedures for particular trades then I have to write up the rules for that area. So whenever, I make mistakes I get more written rules to follow.