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Boomerang indicator system at indicatorwarehouse.com

  #140 (permalink)

west greenwich, ri, usa
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: PFG Best
Favorite Futures: gbp/usd
 
peakskill's Avatar
 
Posts: 31 since Oct 2010
Thanks: 52 given, 12 received


peakskill View Post
I bought BCT back in November and it works pretty well. It's actually a rather simple system. It is different from the original Boomerang System (I have both) which I found not that good for trading ES. However, once I applied some of the nuances from BCT to original Boomerang, I have found that it is easier to spot opportunities in ES with the original.

Anyway, like any other method, BCT will not make or break you.

I have been rather profitable with the system, but I have been trading for a while now and I do filter a few of the trades (not just entering blindly.) Sometimes I miss out on a clear winner that BCT presents, other times I save myself some dough.

I have added a few things to this BCT chart, one of which is available on this forum called anaSuperTrendM1 (which I use as an ATR stop loss or to help me filter some trades.)

If there is one thing that BCT has helped me with in my trades, its getting comfortable with pullback entries. Until BCT, I was always more of a "breakout trader."

I have read through many of the posts on this thread, and while I like a free set of indicators as much as the next trader, a system like BCT isn't just indicators. Rather, BCT is a documented system with a manual and a clear set of rules for trading, which I think would help a new trader quite a bit, someone who might look at all the BCT indicator settings that may or may not have been exposed in this thread and shrug his shoulders and say to himself, "What are all these numbers and indicators everyone here is talking about and how should I trade them?"

Anyway, hope this info helps anyone considering BCT. It's no Holy Grail, but it is a decent rule based system and the signals are pretty easy to identify.

Trade green!

Here are my BCT trades that I took this morning after NY open.

1 long winner at 10:06 AM for +8 ticks.
1 short winner at 10:29 AM for +8 ticks.
1 short loser at 10:57 AM for -8 ticks.
1 long loser at 11:13 AM for -3 ticks (my own rules made this trade a loser, Mohan's would have made it a +8 winner.)

My biggest criticism for BCT is the Reward:Risk ratio. Risking 12 ticks to gain 8 if you follow his sytems. Simple math will tell you that you need 3 winners to make up for 2 losers. I have found that I often get enough winners to make money, but it can be a lot of trades.

There is an added indicator that predicts a "runner" where you can attempt to gain 12-16 ticks. Occasionally, but not always, it appears after-the-fact and does little good.

Enough about BCT...

Attached Thumbnails
Boomerang indicator system at indicatorwarehouse.com-120110_6e_boomerang_bct.jpg   Boomerang indicator system at indicatorwarehouse.com-120110_6e_boomerang_bct-2.jpg  

Last edited by peakskill; January 10th, 2012 at 12:45 PM.
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