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Registered User
Joined: 10/7/2004
Posts: 3
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Could you assist me in supplying the criteria for momentum day trading, i.e. what settings for MACD and stochastics or whatever other studies would be helpful.
Thank you
fjelliott
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The trainers cannot give settings, interpretation or investment advice. I'm moving this topic to the Stock and Market Talk forum where other traders are more likely to see it and reply.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 1/28/2005
Posts: 6,049
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fjelliot
One of the concepts you could look into is make sure
the timeframe that is approx. 5 times greater than the one you are
trading is in agreement.
For example. If you wanted to trade 5 minute bars. You would look
for 60 minute bars to indicate the longer term trend.
These are concepts by Dr. Alexander Elder. He recommends using
MACD 12,26,9 (expmav) and moving averages. Experiment with
moving average lengths from 13 to 26 (exp).
Lets say you wanted to go short. You would watch 60 min bars and
wait for the MACD histogram to go below zero and for the moving average
to be lower than its last bar. Once that happens the longer( 5 time) trend
is down. You would now switch to the 5 min bars. and wait for the
MACD histogram signal to go below zero and its moving average to be lower.
That would be a signal to short. both the short-term and longer-term trends
are in agreement.
MACD histogram going above zero and the MAV greater that its last bar would be a signal to buy.
(on both short-term and longer-term trends)
Hope That Helps
Good Luck
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Registered User
Joined: 10/7/2004
Posts: 3
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Thank you diceman. It has helped...
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Fjelliot buy a current issue of Technical Analysis of Stocks and Commodities magazine and they have there a good article on intraday market forcasting. It may help you with your momentum trading.
good luck.
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