thanks for the free trading room today! It was great to see a losing day today because it shows your method is not fool proof due to a loss of $400 in Sim mode as shown on your chart trader.
Having a room to show your live trading will be great as serve as a FORWARD test of your system to see if, in fact, it is a viable long-term solution--considering you've only been trading it for a few short months.
I've had some thoughts on the REVERSAL TRADES over the past as it seems like some I take, and some I don't. It seems like my right brain is trying to draw a correlation between the ones that tend to work out and the ones that fail.
My observation is basically that the swing points that make up the reversal on the 1508, must both "fit" to something. For example, say you had a downtrend, and you observe a reversal setting up on the 1508 below a red cloud. Price then pierces the inside of the cloud. What you would want is to see the swing high stop at some point of resistance, either the 50EMA, the top of the cloud, or possibly a round number.
Next that swing low that prints, you either want it to stop at either the 13ma, the bottom of the cloud, or a round number. If it 'fits' into that Support or Resistance, and you get an entry for the long, it seems like it might be a way to distinguish a good reversal from a bad one.
Hopefully the pics explain what I am getting at. Has anyone else had any similar observations? Just bouncing some ideas around. There also is the possibility of looking at the wicks or bodies of candles for a fit, simliar to DT/DB formations, but just for now this is the idea.
The following 8 users say Thank You to forrestang for this post:
Basically, if price makes a HH within the cloud on the 1508 ticks chart while price is in a downtrend and price retraces to a rising EMA(13) which should coincide with the bottom of the cloud or near this bottom and the risk/reward to the EMA(50) has some merits (at least a 1:1 RR) then maybe the trade is worth taking even more so if the top of the cloud has enough room to allow a 2:1 RR. I also try to trade the Euro when price travels between two round numbers that end with 00 or 50 like 1,4000 to 1,4050 or 1,4050 to 1,4100. Such a scenario occured Friday just before noon EST. You need to evaluate if the risk is worth it given the potential targets (see chart).
The following 3 users say Thank You to trendisyourfriend for this post:
The first two or three have to be 15 minutes, but then they let you go much longer.
@cjbooth, if you have trouble splitting them just zip and attach here, I can split them for you.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
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The following user says Thank You to Big Mike for this post:
I would like to try to attempt to code some of the NT code in TradeStation EasyLanguage. Can some trader that uses Ninja Trader help me out by posting the NT code for the IchiCloud in a text file, including any "function calls"? I would also need the parameter input settings too. Thanks for any help that can be provided.