Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Lets not get sidetracked. The thread is about ESFXtrader's method using the CCI. He's done a good job of explaining it, lets keep the discussion on-topic.
Jeff has his own method which he has discussed at length in this thread:
This thread was nominated for the Best Thread Of The Year for 2011, and won 3rd place (Bronze).
BEST OF TRADING 2010 AWARD
This thread was nominated for the Best Thread Of The Year for 2010, …
There are going to be similarities but since each thread was started with a specific frame of reference or point of view (OP's) I see no reason they can't co-exist.
I appreciate any trader who comes in and contributes something he thinks may be useful to other traders , even if I don't necessarily subscribe to his school of thought. Hearing other points of view is valuable, even a blind hog finds an acorn occasionally.
Thanks to everyone who contributes to this board and a Happy New Year!
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"
When I saw that number, the first thing which came to mind was DeMark.
One basic question I have is with regards to targets and risk management.
How are the stops defined?
This seems to be an always-in (or almost) kind of strategy. Is there any sizing/scaling involved?
Also the last 2-3 weeks have not been normal since most of the pros shut down their books for the year as December wore on. So what worked in those markets may not work going forward.
Once you completely understand the trading system, you will see that you take what the market has to give, always using money management, as with all trading...but that goes without saying. The Reward/Risk has ranged from 2/1 to 10/1, depending on how the market moves. This system helps avoid losing trades in all markets, especially when moving the stop once the trade has several ticks (or PIPs in FX) to one or more on the positive side. Once you take profits, many times it is at a reversal and therefore offers an excellent reversal trade and thereby offering you the opportunity to stay in the market with a trade in the opposite direction, be it short or long. At times, when you take profit, it is not the optimum time to reverse a trade. Then "sit on hands" until there is a better setup or trade another market.
As far as the last 2-3 weeks......This system has worked and continues to work, irregardless to the volume or volitility, but one should always be aware when news is coming out, to avoid losses, where a trade should not have been taken. You can look at any time in history and any timeframe on the continuous contracts,
TradeStation is @ES or @TF or @NQ, and prove how well it has worked for yourself.
Also, see the posts in "Forex and Currency Trading" to further drive home the point. Good Trading.
WK
If you are using TradeStation's continuous contracts for testing, unless they have changed the method they use to adjust backwards to compensate for the rollover, you will get different results than using the data from the actual contracts.
On strong trending days like December 20th, most systems work well. Never confuse Genius with a bull market.
I would be interested in seeing the results for TF 12-10 on December 1st , if you have time.
Thanks for posting !
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"
I am also a Tradestation user, would you be willing to post an attachment of one of your Tradestation workspaces (.TSW file) with the various indicators?
