I'm feeling the learning curve. some things need to be painfully learned through experience i suppose. after trying a lot of strats i decided to try a very simple 8,13,21 EMA strategy with the macd. i'm having a hard time choosing a time frame. the 15 min looks ok but still a few more false signals than i would like. the 30 and 60 min both look promising for me tho.
so far i have been just waiting for a cross over signal to go long. but i added a second macd on a lower time frame in hopes that it can help me pick out re entry positions for possible shorts rather than just waiting for the downtrend to end.
any advice or thoughts on this stratagy for a new trader who's tired of trying to "scalp" and getting wrecked on lower time frames. 3, 5 , 15, mins all seem to "fool" me into entering in bad positions.
Thanks.
so far i have been just waiting for a cross over signal to go long. but i added a second macd on a lower time frame in hopes that it can help me pick out re entry positions for possible shorts rather than just waiting for the downtrend to end.
any advice or thoughts on this stratagy for a new trader who's tired of trying to "scalp" and getting wrecked on lower time frames. 3, 5 , 15, mins all seem to "fool" me into entering in bad positions.
Thanks.