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Hi GE,
Firstly, I have deleted my two previous posts as I realised they did not add any value at all to the discussion or development to the randy candles. I apologise.
Secondly, after looking at your screenshots of your trading monitor I have several questions going thru my head, but the ones that I can put to the keyboard at the moment are:
- In your original posts you had said that you take the trades off the 5M or 15M candles. Is this still the case?
- When you say that you are watching the 1M waterfall sma's etc. is it after you are in a trade on the entry candle, obviously the candle after the alert canlde? If so, are you just waiting for a pull back on the 1M chart to go in the direction decided based on the alert + entry candle. Hence, we are not entering on the close of the candle after the alert candle?
- I remember you saying that the best alert candles are the ones that close above the 6sma. Now, with regards to the 25sma, do you only take trades in the direction of the 25sma? ie you could have an alert and entry candle to go long, that move thru and close above the 6sma, but are below the 25sma. Would you take this trade? or wait for it to move thru the 25 ma? The problem with shifted ma's is that they change as time moves on. They might be show an upward move on the 6ma, but by the time that period comes, if the candles have moved down, it will not show that particular upward move.
I look forward to your replies!!
Regards,
K.
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