Hello Brooke,
Well as you had previously suggested, I also have the 5 14 6 in a window. But -- using MACD's is new to me. I mean really looking at them with the idea that they might help me anticipate the future. Per previous suggestions from you and Monty, I have a number of tabs with various settings, as follows:
All my upper windows are in candle, with a 21 day Bollinger Bands and the 50 and 200 DSMA. Then below I have 5 14 6 in one window (both historgram and crossing lines) and 8 17 9 in the bottom window. As there's only 3 windows in TC2000, my next tab has the same upper window and the two below are MACD's 8 17 9 and 13 34 89.
Other tabs have the same settings but in weekly. Also a couple with various volume data.
It was Monty's post here Message 15266204 and then Message 15272414 that caused that all too familiar involuntary right hand palm to briskly slap against my always slightly reddened and permanently disfigured right forehead.
Prior to the slap, I had Morris' basically unopened book and I hardly looked at MACD's.
So now I'm just putting up a chart with the referenced settings, scrolling back 3 or 4 years, and then scrolling forward looking for a couple of single and pattern candles at extremes with the BB's and the MACD's. When I see them I'll look at what volume was also doing. Then I'll take a WAG at what will happen and scroll forward a bit for the answer. As for the actual future, I've created potential long and short watch lists that I put a note on and then see how it works out.
I'm greener than green with this type of visual scan. But it's fun seeing how my WAG's worked out in the past and also seeing how my best guess works in the current environment. It beats the hell out of night time TV and -- Oh!!, maybe I can learn to make a buck from it! Ouch!! My forehead!
Now Brooke<g> Monty has told us all that you're the BOSS of MACD's. You said Take a look at 8/17/9 in several charts, with a histogram, and you'll get an idea of how long trades might last, based on the number of bars, and of course your own entry and exit points. That's great, I haven't been doing that. Now, throw me (all of us) a few other bones on what you do with the MACD's, how you combine them with candles, the candles with BB's, etc.
If you had to go to a survivor island, and you could only take a couple of single and pattern candles, what would they be?
Break it up into a couple of posts. As many as you like. Take your time<g>. It's Saturday -- lean back, pour yourself a nice glass of your favorite, the thread is all ears, share some trading thoughts and we'll ask a question here and there.
Monty -- You're next<g>.
Thanks for the help,
Eric |
