You should understand that the system which I have described here in this thread has been very good for me financially and continues to be on option trading, etc. But the system which I have developed that includes my original system, is better for day trading futures. So, there is more to it, but more often than not, it is simplified as seen in my more recent threads and the charts below.
More important is the fact that you can develop a system from mine that can be all yours and perfect it to suit you.
The charts are on ES. A 12 min chart and a 6 tick (r) (range) chart.
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This is a 6 tick (R) range chart.
As I have noted, my normal risk on TF or RLM is 10 ticks, sometimes less, depending on the setup entry.
I enter with a bracket entry, where my target and stop can easily be adjusted as I choose. Although I may have a target in mind, I take what the market allows by moving the target and the stop to protect the gains. Sometimes the target is hit very quickly and allows another entry very quickly. By using this method on GC-gold, once the target was hit within 1 second and the price pulled back to same entry for a second winner. There is a lot of flexibility within my system, but what I am sharing is what has worked best for me.
Hope this helps.
PS If this helps you understand what I am doing and you still need help, send me a private message or post below.
Some private messages, when I think will help others, I post for all to see.
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The way I trade is without MA crossovers. I use the 5034, 5034Z and 5014 CCI trade setups. I track 18-Forex issues with a short-term and long term chart for each. The former uses about 3/4 of each monitor (I use 6-each) with the latter occupying the remaining screen space. A signal is not valid unless the price bar closes above the 34-EMA for a Long and vice-versa (on the short-term chart).
There are other requirements to each trade but this is solely in response to the question regarding MAs. Besides the 34-EMA, I use the 14-EMA and the 204-EMA.
Today I had 13-trades and went on a 6-mile hike with friends from 8:30-AM until 12:15, EST.
I know that I'll have good trades because my trades are all in the direction of the 204-EMA. Some take longer to "comply" than others.
15-issues are on one monitor and I scroll through them (ad nauseum). The other 5 are on the remaining 5-monitors. My office isn't big enough to house 18-monitors especially if all were 24" as are the 6 I use.
As potential setups manifest themselves, I put an arrow under the 14-CCI to draw my attention the next time I'm scrolling through the 18. It frequently gets boring and I digress to scientific websites that interest me. I miss trades but not so many that it isn't worth my time.
I suppose I could use Ninja Trader but can't think of a good reason to give up Sierra Chart.
Hope this helps.
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