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.

 

[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 ***!

 

[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?

 

[MBF]

here is example of friday intraday trade. I highlighted with green circles signals I used .The setup was on 30m - continuation down

https://imgur.com/a/sbD8312

My ultimate target was daily ATR (2)/ daily support. The 30m broke down and I entered on 5m at 1025 on inside candle.
breaking previous low on 1035 was confirmation trade is good. After 1100 washout ( wide range bar with low volume) I moved stop to the pivot it created. At 1115 I tightened stop on range expansion bar and rvol spike (tightening was on 1m chart which is not visible her). I got stopped out and thats it .

here is example of friday intraday trade. I highlighted with green circles signals I used .The setup was on 30m - continuation down

https://imgur.com/a/sbD8312

My ultimate target was daily ATR (2)/ daily support. The 30m broke down and I entered on 5m at 1025 on inside candle.
breaking previous low on 1035 was confirmation trade is good. After 1100 washout ( wide range bar with low volume) I moved stop to the pivot it created. At 1115 I tightened stop on range expansion bar and rvol spike (tightening was on 1m chart which is not visible her). I got stopped out and thats it .

Slow down.

There's no commissions. Trade just 2 shares. Sell one share when you get a feeling and let the second share run, sell on your next cipherin'. Analyze what you've done. Make adjustments. Rinse, repeat. If you are trading options without understanding Expected Move, you may be flying blind. Don't buy small stocks, the Bid-Ask will cut you up.
Now, please take 10 minutes and watch this:

Brian Wrote the book Technical Analysis Using Multiple Timeframes.

His book is on its way. He is nice and clean. I like that. Writing all my notes now. Too choppy for me today.

 

[MBF]

Not exactly. first the setup on daily is bearish with price action under point of control and void support till 80 (thats why this ticker got into radar first place) . The first two 30m bars on the day are bearish and 2nd bar is bearish with above average volume (thats what I circled on 30m lower indicator) - that was price action intraday at ten - when I look for setups after initial bell shakeouts.
The final check - where when I was pulling trigger: on 5m there are clear rejection under vwap and 1025 is breach of 5m range. - perfect entry with nearby stop at 82.35. Everything is in confluence - daily, 30m and 5m. Good risk reward. I dont use whole numbers except for like additional convenience (and only for exits)

It also didnt hit my ultimate price target but the management I used allowed good exit.

@skynetgen You use the 1 minute to tighten stops and five minute for entries and exits? Or the one for all and the five for confirm? I am going to study this. Downloaded your chart. I like Brian's broad market analysis and will also be studying this. I really like this because it shows steps. I need steps. I appreciate this so much and everyone else's advice which I am also writing down.

 

[markos]

His book is on its way. He is nice and clean. I like that. Writing all my notes now. Too choppy for me today.

Looking forward to your notes. In the Grand Scheme of things, this will hopefully turn into a lesson for those that are working thru the beginning of their journey. Excellent choice and observation that things are too choppy for you. You have just learned a part of How to Pick your battlegrounds.
Brian's you tube channel is full of weekend wrapups and 1 hour classes. Best wishes on to your endeavor. Enjoy the ride!

 

[markos]

btw, I chatted with Mr Shannon 6 month's ago and asked him if he worked w TOS charts at all. He said no, he has a deal with Worden Brothers and their charting service. (Too expensive)

 

[MBF]

btw, I chatted with Mr Shannon 6 month's ago and asked him if he worked w TOS charts at all. He said no, he has a deal with Worden Brothers and their charting service. (Too expensive)

His anchored VWAP, jealous.

Looking forward to your notes. In the Grand Scheme of things, this will hopefully turn into a lesson for those that are working thru the beginning of their journey. Excellent choice and observation that things are too choppy for you. You have just learned a part of How to Pick your battlegrounds.
Brian's you tube channel is full of weekend wrapups and 1 hour classes. Best wishes on to your endeavor. Enjoy the ride!

Going to check him out. His anchored VWAP makes me jealous!

 

[MBF]

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

For stocks TRIX showed the best results as stocks tend to be more volatile and have frequent trend reversals where correctionless MA is more accurate. Triple exponential moving average (TRIX) is similar to DEMA but uses exponential moving average three times: Why are they calling this TRIX isnt this TEMA?

 

[markos]

For stocks TRIX showed the best results as stocks tend to be more volatile and have frequent trend reversals where correctionless MA is more accurate. Triple exponential moving average (TRIX) is similar to DEMA but uses exponential moving average three times: Why are they calling this TRIX isnt this TEMA?

Never Mind That. Stay on point. That discussion, while worthwhile to me, is a rabbit hole for you. (I know because I'm a fearin' our personality's are alike) Ask about that next week!
Are you done with that list yet??

 

[MBF]

Never Mind That. Stay on point. That discussion, while worthwhile to me, is a rabbit hole for you. (I know because I'm a fearin' our personality's are alike) Ask about that next week!
Are you done with that list yet??

List? Of notes? I have my notebook with all the notes on here, plus all of the notes from both Brian's video, which I just got done setting up all my TFs to match his with his 5 Day MAs on the lowers and his higher timeframe set ups. The VWAP in TOS isnt "move-able" so I swiped one from here, still not move-able but will do. The notes on Skynetgens set up.
I am about to watch a Brian youtube video and then set up a Skynetgen chart(s). If I set it up myself I learn and remember better. I want to see what you all see.
I can take photo of my pages of notes! LOL