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Has anyone tried eminiacademy.com?

  #42 (permalink)

Quebec
 
Trading Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,851 since Oct 2009
Thanks: 3,423 given, 4,863 received


omaha786 View Post
Your chart is a 1210 tick chart for ES, do you use multiple time frame, e.g. a lower time frame for entry? Thanks.

No i don't as i consider 1210 ticks low enough. In fact, i usually get a good entry level if price gives me a reversal bar in an uptrend that points in the right direction as i would place a buy limit order 1 tick above the low of this reversal bar. I would not get a better entry even if i would use a lower interval. I tried many permutations using different intervals and i always come back to 1210 ticks/bar. It's a good compromise between too fast or too slow. 1210 ticks/bar gives you bars that vary between 3-5 ticks. This helps to gauge volatility. The other intervals that i use are only usefull to form an opinion about overbought/oversell conditions or trace a price channel etc. But i could trade without them. One thing i have realised over the past six months is that the search of *good* price levels of supply/resistance is a wrong quest. You can make money without knowing beforehand these key levels. This is one more reason why i use the trigger lines as they reveal the strength or weakness behind a move. No matter the level in front of you, you need a certain amount of strength to cross a key level. If price hits a wall so to speak, it will reveal itself in the MACD as well as in the trigger lines. That's why more and more i consider the search for *accurate* key levels as a secondary task. Most of the time (95% in reality) for a day trader, the last couple of swings (high or low) is what counts in his timeframe and it takes just a quick look at your chart to identify them.

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Last edited by trendisyourfriend; September 4th, 2010 at 05:04 PM.
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