Day Trading Currency Futures W/Multiple time frames
For those interested, I am not here often and thought I would show you my new and improved system.
I trade off the BBs, the Green MA, and the 2 MAs, as you will see in the screen shots of the charts. This is from the Charts at Danials Trading. I have not been able to duplicate the LSMA (Least Square MA)-2 MAs or the RMA (Rolling MA)-Green MA on other platforms. I will tell you that it consistently works.
I will give more info after vacation, as I am off to visit my son and family for more than 2 weeks.
The Notations on the charts will show just how accurate this system continually works. I will have more charts soon. This is a one of a kind system no one else has it, just as no one had my CCI system.
This is far better than those sold for big money. You will see.
The 6 tick (r) is a 6 tick range bar chart and it works on most any futures contract. Try it with what you trade and see if it will help you be more accurate. Try it on TF, ES, currencies, etc.
You will find that many times the charts and indicators confirm one another. Often best to wait when the 2 MAs approach the Green MA on a proven chart that works nearly all the time. See for yourself. Although, if you are already in a trade, continue to move the stop to protect the gains.
The vertical red lines show the price info at close of candlestick and all indicator info. The first lower level chart shows the double top short (red horizontal bar) after price had moved below the MAs and pulled back to them-one of my favorite trades. I have called these live in a live futures trading chat room on many occasions and have not had a bad call to date.
Last edited by ESFXtrader; January 11th, 2013 at 03:33 PM.
The following 23 users say Thank You to ESFXtrader for this post:
thank you VERY much for posting these charts. I had been following your CCI thread but was struggling to avoid over trading. Your new charts even before you go into ore detail on the rules on your return look like they catch a ton of great trades. I went ahead and got a 2 week trial with dT. I played around with an 18 and 25 period LSMA on the russel but I am guessing those numbers. Will be grateful to see settings for each item when you get back and have time.
I found a post on the net showing actual code for LSMA which the author swears is the same as Tradestation Liner Regression Curve but my testing in TS do not concur on that. I can post the code if of interest.
Also looking forward to description of the rules - sometime the green rolling average seems to be a reversal trade and other times not ? It seems though from all the annotations you mande on the charts that many of your trades are long tailed candles/hammer bars that poke either a Bollinger or the LSMA ?
thank you again and hope your vacation was good.
Last edited by leprechaun; August 4th, 2012 at 08:19 PM.
Thanks for the interest and yes I truly had a great vacation, a bit longer than expected...nice to have flexibility. I am looking forward to getting back to trading. My latest system has proved to be even more accurate than my first, but does incorporate some of the same setups and continues to use BBs as before. The count back method continues to work, especially on shorter time frames and tick charts. One thing I have found is the number of confirmations by other charts is astounding. Completely different charts often show setup entries within a couple of ticks. When time permits, I will mark up more charts and show more trades and setups and values of indicators. I will need to decide whether or not this Thread should be placed in the Elite area before adding very much detail. Any ideas?
P.S. The charts are on NQ futures' contract and work the same as with currencies or any other futures' contract.
The more you see them, the more you'll like them.
The following 8 users say Thank You to ESFXtrader for this post:
welcome back - good to hear you had a great vacation ! Thank you for posting additional charts and some for the additional comments on your revised method. Have been checking here daily in anticipation of your post(s). I've been playing with dT platform but my trial is about to expire but they have an option to rent for 49 a month which I'll get so I can match my setup to yours.
Posting on the Elite section is fine - that's an upfront commitment to begin with from us to pay it forward as you have requested in your various postings. I am not an elite member yet but will sign up this week.
Looking forward to your guidance on the setups etc.
thanks for additional charts today. Certainly a nice move down. I can see how the MAs on DT keep you in. I see also the long tail candles appear to be the trigger to reverse. You mentioned a 6tick range bar was key but I notice you also use an 8 tick and some time based charts. Am not clear as to when the middle line is a reversal vs continuation but those are the details you might elaborate on in whatever way you think best. I signed up for elite membership today.
Look forward to learning more - as always many thanks !!