Moving Average Plots, Charts, Scans For ThinkOrSwim

[MBF]

Hi anyone and everyone,

I am getting a little confused and overwhelmed here and this has been an ongoing problem for me. I am trying to figure out which MAs are more eyeballed as entries and exits. Lately, I have been using the hourly 50 and 200 for day trading targets. I shouldn't say using, but more like experimenting. I'm having a hard time with this. I use premarket as signals with other stuff but honestly, I am trying very hard to be as simple as possible and learn without all the bells and whistles and then integrate them later on. I guess what I am trying to say is, what do you guys use when charting out lower time frames? There are so many choices, how do you know which ones are the most reliable? Is it different for each symbol? Do you look at all the MAs on the hourly and just use the ones that specific symbol seems to follow or is there a rigid set of MAs? I don't know, I think I'm overwhelmed. Any help would be greatly appreciated. I don't know if this is the right place to ask this as this might be just TOS script stuff but thought I'd give it a go.

 

[MBF]

Is there a morning chat I’m missing out on? On discord?

@markos ive been told more than once to focus on one stock and learn that one stock really well before going to other ones. I picked AMD and the stock has been dead in the water. I find myself switching around a lot.

I know precisely what you are talking about. Too many ideas, too many indicators, too many strategies, too many confluences and things to take care of.

However if you are humble and and content to get in quick, take profit and get out quicker the strategies become simpler. Like scalping gappers on 1m timeframe at the open is probably simplest in terms of stock selection, signals and execution.
Bigger the move you want to capture - harder it gets

i have really been doing my best to play that morning run. I’ve noticed the first two turns are the main turns of the day most of the time, well almost always. I’m pretty humble and I don’t balk when I’m wrong at all and I’m not afraid to ask stupid questions.
I’m not greedy, I don’t think, maybe, I don’t really know, haven’t gotten that far yet. Just trying to figure out how to trade right and whipping the fear out of me. I’m just happy even if I win $4.00, I didn’t lose and now that would be $13. Because ... no commissions!
The other day I was in AMD for almost an hour! Couldn’t do that before but I wanted to push my emotions to the limit and not let them get to me and read the chart as it was moving. My eyes didn’t leave that chart for a second, they were bleeding but I was in it and not going to allow myself to shake out because a candle dipped too low or turned red. Very hard but I did it and didn’t lose money. It was my own lesson of the day. This was during lunch hour so it was moving like molasses.
Point is all these steps that you didn’t really consider add up to time. Time well spent but you would think after a year you would be a bit more prepared, then another consideration pops up.

 

[MBF]

You got this. It will take time for all of the Nuances to come into view. It may be years. Don't expect that it should be different than any other profession. Consider my advice about buying 2 shares and selling one when you feel you need to. You'll then have skin in the game but if it's trashed out in a 20% down day, your one share at $50 bucks is now at $40. Big deal! Keep your perspective.

@markos I was told more than once to focus on one stock and know that stock well. Unfortunately it was recent and I picked AMD which has been dead in the water lately. I don’t know if I can focus on just one stock! Lol! I get FOMO!

 

[samks_30]

Create a bigger picture and form smaller pictures from it (picture is based on charts and MA's).

 

[MBF]

You said you listened to Don and Cory during the Day, didn't you? That's where.

Oh no I get Dons free nightly report.

 

[skynetgen]

@markos I was told more than once to focus on one stock and know that stock well. Unfortunately it was recent and I picked AMD which has been dead in the water lately. I don’t know if I can focus on just one stock! Lol! I get FOMO!

Very important to develop YOUR process and YOUR OWN approach you are comfortable with. Some people have a masterlist they stick to and dont trade anything else ( typical 10-20 stocks). Some people pick every morning (from catalyst/gappers).Personally I pick every morning 2-4 stocks for gap setups. And on weekend I pick 4-6 intraweek setups.

Its important to have focus. During the trading day I have plan when I do what - I only do scalps first 15 minutes out of 2-3 stocks and ignore everything else. At end of day I only manage swings and nothing else. If you have 10 tickers to watch all the time likely you wont be able to focus. Know your timeframe, know when you trade that timeframe, know the ticker for that timeframe. Having just 1 -2 tickers and nothing else for the day is better than having 10.

Don't fomo chase, dont twitter chase, dont chat chase. - Work on your own process - thats the only way to get to consistent system imho. There is no need to rush to trade.
preparation and reflection are just as important as execution. You need time, mental clarity and energy to do proper follow up. Don't spend it all on execution. Less is more

 

[codydog]

Agree 110% with skynetgen. Good points all around.

My take is similar but a tiny bit different, I mainly focus on stocks with high price level, wide spreads yet liquid options, so, amzn and googl, mostly. Stocks move 10,20,30 points daily, easy to monitor, lots of comments out there to check on and read about. market leaders. Once you get used to 'em, seems easier as trend extends further, quicker than low price stocks. May not work for you at all.

Would be cautious on listening to any guru associated with brokers as they are selling stuff even indirectly.

I have a white paper with a ton of research on which MA works with which instrument if anyone wants it. Serious stuff, not bar room reading.

 

[mc01439]

Agree 110% with skynetgen. Good points all around.

My take is similar but a tiny bit different, I mainly focus on stocks with high price level, wide spreads yet liquid options, so, amzn and googl, mostly. Stocks move 10,20,30 points daily, easy to monitor, lots of comments out there to check on and read about. market leaders. Once you get used to 'em, seems easier as trend extends further, quicker than low price stocks. May not work for you at all.

Would be cautious on listening to any guru associated with brokers as they are selling stuff even indirectly.

I have a white paper with a ton of research on which MA works with which instrument if anyone wants it. Serious stuff, not bar room reading.

@codydog - Would like to read that white paper.

 

[markos]

@codydog would you be able to upload the file to Google Drive and share the link? That's the preferred method.

 

[MBF]

Very important to develop YOUR process and YOUR OWN approach you are comfortable with. Some people have a masterlist they stick to and dont trade anything else ( typical 10-20 stocks). Some people pick every morning (from catalyst/gappers).Personally I pick every morning 2-4 stocks for gap setups. And on weekend I pick 4-6 intraweek setups.

Its important to have focus. During the trading day I have plan when I do what - I only do scalps first 15 minutes out of 2-3 stocks and ignore everything else. At end of day I only manage swings and nothing else. If you have 10 tickers to watch all the time likely you wont be able to focus. Know your timeframe, know when you trade that timeframe, know the ticker for that timeframe. Having just 1 -2 tickers and nothing else for the day is better than having 10.

Don't fomo chase, dont twitter chase, dont chat chase. - Work on your own process - thats the only way to get to consistent system imho. There is no need to rush to trade.
preparation and reflection are just as important as execution. You need time, mental clarity and energy to do proper follow up. Don't spend it all on execution. Less is more

I try to stay away from anything that will distract me. I am a member of a great group but I decided a week ago I need to think while trading, concentrate so no rooms, no tweets, not even the news. I will have to come back to this thread when i return home later. Pretty good trading today for me. Always can do so much better!

 

[MBF]

Agree 110% with skynetgen. Good points all around.

My take is similar but a tiny bit different, I mainly focus on stocks with high price level, wide spreads yet liquid options, so, amzn and googl, mostly. Stocks move 10,20,30 points daily, easy to monitor, lots of comments out there to check on and read about. market leaders. Once you get used to 'em, seems easier as trend extends further, quicker than low price stocks. May not work for you at all.

Would be cautious on listening to any guru associated with brokers as they are selling stuff even indirectly.

I have a white paper with a ton of research on which MA works with which instrument if anyone wants it. Serious stuff, not bar room reading.

I dont trust them. Every now and then I see a decent "Guru" but for some reason if i see them selling indicators for a ton of money its a red flag for me. I like John's Charts but just way out of my expenses. Stewie I like too. I looked at Theo but they mainly do Einstein trades. Theyre all so expensive. I understand you have to pay tuition but with so many great traders out there, how do you know which is the best or your style and to cough up that much money right out the gate when you don't know anything, is ... not smart.

 

[markos]

When you stop trading for the day, write down all the thoughts and advice you've been given in 24 hours. You can't buy that info anywhere.
WHAT HAVE YOU LEARNED? Stop over thinking, decide what type of trader you want to be and if you have the time and temperment for it. Those are things you don't seem to have defined yet.
Write down what you've been told. Sort through it.
You do not have to be the Master of the Investing Universe this week. Step away for a while and just watch, don't act, just watch.

 

[MBF]

When you stop trading for the day, write down all the thoughts and advice you've been given in 24 hours. You can't buy that info anywhere.
WHAT HAVE YOU LEARNED? Stop over thinking, decide what type of trader you want to be and if you have the time and temperment for it. Those are things you don't seem to have defined yet.
Write down what you've been told. Sort through it.
You do not have to be the Master of the Investing Universe this week. Step away for a while and just watch, don't act, just watch.

I love a good kick in the ***!

 

[codydog]

on gurus- just ask them to have their cpa send you what they filed with the irs for the last few years. Legits will send it over.

@markos--you mean JQs? I think he has it - can post it here if mod wants to give direction on how to doit or can email anyone who wants it.

 

[markos]

on gurus- just ask them to have their cpa send you what they filed with the irs for the last few years. Legits will send it over.

@markos--you mean JQs? I think he has it - can post it here if mod wants to give direction on how to doit or can email anyone who wants it.

@codydog No, not JQ's, we already have that link in the Tutorials. I was thinking of using your Google Drive or OneDrive to share the paper that you referred to.

That is the preferred way, as @BenTen doesn't want a repository of uploads, at this point, to be located here on this site. I have a few that I would like to share, but just imagine the flood of files...
It would be hard to police all of the .xls sheets with macros in them. Day jobs get in the way for many of us.
How to create a shareable drive? I'm too old to remember how! I have to keep asking my kids.

 

[codydog]

everyone wants the unicorn indicator to make millions, retire on friday - sadly, havent found it or would share!

understand mods view on uploads,so anyone who wants it simply put your email here and i'll send it, give me a day to do it though!

 

[BenTen]

@codydog Thanks for your kindness to share. I think it would be more convenient just to upload the document onto Google Drive or OneNote drive (or whichever platform you use) and they should provide you with a shareable link. Drop it here and anyone interested can simply click to get the file.

 

[codydog]

I'm 109 with a Ouija board attached to a laptop,so shared onenote/google drives etc are beyond my abilities.

If someone smarter wants to do it, i'll send the study to you happily!

 

[BenTen]

Here is the link to the white paper that @codydog was talking about. https://drive.google.com/open?id=0B81LU8RSctNyUzVRcmNXLU9vT3p6SlI3NlpOWjNoOWNVUThF

Thank you, Cody, for sharing.

 

[horserider]

Since EHMA Hull is noted as tops in the paper ^^^ Made a chart for comparison.

Cyan/Pink line is ToS Hull [WMA]
White line is ExpAvg of ToS Hull
Green/Red line is EHMA [EXPMA]
Input 9

 

[skynetgen]

Since EHMA Hull is noted as tops in the paper ^^^ Made a chart for comparison.

Cyan/Pink line is ToS Hull [WMA]
White line is ExpAvg of ToS Hull
Green/Red line is EHMA [EXPMA]
Input 9

Mind sharing your EHMA code?