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Donchian Trading Guidelines
http://stockcharts.com/school/doku.php?st=Donchian&id=chart_school:trading_strategies:donchian_trading_gui
Adding empty space above a chart
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http://blogs.stockcharts.com/mailbag/2010/11/adding-vertical-space-above-a-chart-for-annotations.html
JAKE_SYSTEM
http://stockcharts.com/public/1549207
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TNA_30
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TZA_30
For my info
TZA
1 6%
2 10
3 24
4 20
5 35
6 48
7 35
8 32
9 36
10 40
15 30
TNA
1 7%
2 14
3 21
4 16
5 20
6 24
7 35
8 24
9 9
10 10
Duma rules on time and IWM
Just so you know, when I give a time, it is always eastern. All the clocks in my office and my computer are set to eastern.
When I talk bars I always use the ending time of the bar. So if I say a 12pm bar, that is the bar that ends at 12pm. That way the time of trade and the bar that gave the signal match. I know that SC uses the beginning time for their labeling, so it can be messy.
I always give the trading results based on trading IWM. I actually trade UWM. If I invest 75% of my funds than I am trading at 150% of assets. If you are investing 100% of your funds in 3x funds, that is confidence. I just don't have that much yet.
If you want to report central and beginning bar time, just let me know and I will adjust your numbers in my head.
I had the gain on the MACD trade logged as 1.62%, so that is right in line with your TZA numbers. Good trade.
Duma Trading Rules
Rules for Trading SR60AT- Stochastic and RSI on 60min chart trading at end of any completed bar
I use FreeStockCharts.com and Stock Charts for my graphing. Both of these use 9:30-10am as the 30min bar of the day. FSC labels their bars with the ending time and SC uses the beginning time. All of my discussion and reporting is based on bar ending times (FSC), because that is the actual time. A 10am bar trades at 10am.
Another key difference is RSI, in FSC it is called Wilder RSI.
OB stands for over bought and OS stands for over sold
I use just two indicators. Stochastic(14,3,3) and RSI(14)
BASIC TRADING
The basic long trade is when both indicators are OS and both break above the OS limits, stoc>20 and RSI>40.
The basic short trade is when both indicators are OB and both fall below the OB limits, stoc<80 and RSI<60.
If prices don't cross the outer limits before reversing, then I resort to %k and %D cross overs and RSI slope. I normally like to see a two bar slope change in RSI. One bar price dips are common and will often whip if traded.
OTHER CONSIDERATIONS
Whenever I get a trade signal, I switch to a 3min chart to determine the short term trend. If it is reverse to the direction I want to trade, I will wait to trade until I get a stochastic(33,10,10) cross. Otherwise I will usually execute with a buy stop with a few ticks margin or the high/low of the signal bar. I am giving up a few ticks in gain, but well worth the safety. It appears to me that many algo programs kick in on the hour and reversals are common at hour points. If the reverse has been slow in coming and looks firm I may just trade at the signal price and use a stop. If nothing else just wait 1 or 2 minutes after the signal to see how the new hour starts before executing.
I usually use the open or close of the signal bar as a sell stop after execution. At times I use a -.35% or -.5% stop. It all just depends on the situation. I consider the size of the signal bar ( tall, short), recent volatility, mood of the day.
I never trade based on a 3pm bar at 3pm. I wait until the 10am bar is printed the next day. Too many weird things go on during the close and open. This gives the market 30min into the new day to settle down.
These are my basic rules. I discuss every trade, so as new situations come up that are worth making noting, I will add. The market is ever changing and we have to change with it.
Here is a direct method to add charts.
1. Right click on StockChart image
2. Click on properties and then copy URL
3. Paste into post, hightlight URL, then hit "Image" in the left margin.
GREAT MARKET TIMER
SPX_W
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http://stockcharts.com/public/1107832/chartbook/250395735;
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4 out of 12 in UP TREND as of 6/21/2011
Trend: What does it matter, the world is ending tomorrow I hear?
However if it doesn't end, I must try my best to call turnaround points and this is one I think should turn upwards.
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