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Any indicators to help me stay in the trade?
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Any indicators to help me stay in the trade?

  #1 (permalink)
Elite Member
waldwick, new jersey, United States
 
Futures Experience: Intermediate
Platform: Ninjatrader
Favorite Futures: CL
 
Posts: 73 since Aug 2010
Thanks: 7 given, 9 received

Any indicators to help me stay in the trade?

I am a two car all in all out trader using a 12 1 1 setting on unirenko. Is there any indicator or combination that will help me stay in the trade longer?
A trailing stop of 14 ticks gives away most or all of my gain but there are many 30, 40 60 tick moves in the CL which I miss most of with an 18 tick target.

Thanks so much for your assist, past and present.

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  #2 (permalink)
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  #3 (permalink)
Elite Member
Cedar Rapids, iowa
 
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mannya View Post
I am a two car all in all out trader using a 12 1 1 setting on unirenko. Is there any indicator or combination that will help me stay in the trade longer?
A trailing stop of 14 ticks gives away most or all of my gain but there are many 30, 40 60 tick moves in the CL which I miss most of with an 18 tick target.

Thanks so much for your assist, past and present.

I'd be interested to know this as well as i am sure many others would.

One thing you may want to explore is different unirenko settings so that you can see the pullbacks but not reversals unless it is seriously reversing. Once you find that, then you can do a study of how often a >50% pullback occurs, >75% pullback, etc, etc, until you have enough statistical info to help you withstand that pullback.

This is not the answer you were looking for but it is a way for you to do a study that may be relevant to your trading.

"Money is better than poverty, if only for financial reasons." - Woody Allen
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  #4 (permalink)
Elite Member
France
 
Futures Experience: Intermediate
Platform: ninja trader Jigsaw, sierra chart
Broker/Data: Infinityfutures, Globalfutures, IQfeed, CQG
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Use Footprint


mannya View Post
I am a two car all in all out trader using a 12 1 1 setting on unirenko. Is there any indicator or combination that will help me stay in the trade longer?
A trailing stop of 14 ticks gives away most or all of my gain but there are many 30, 40 60 tick moves in the CL which I miss most of with an 18 tick target.

Thanks so much for your assist, past and present.

Hello,

I think the best way to know if you can take and stay in the trade is to use Footprint with bid and ask to see who has the hand and keep the hand during the trade..

Sorry i'm not able to post chart, yet

Sorry for my english

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  #5 (permalink)
Elite Member
Philadelphia, PA
 
Futures Experience: Advanced
Platform: Multicharts, Ninja Trader
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there are many purely technical indicators based on price...parabolic...john ehlers laguerre RSI...TSI...keltner channels
combination of technical and volume direction is best...klinger volume...footprint...upticks vs. downticks

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  #6 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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If you don't yet have an answer you are looking for perhaps posting charts of trade you got stopped out of and wished you stayed in and vice-versa, (I agree with the answer of studying retracements this is really what you need to know IMO. )

Keep your mind in the future, in the now.
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  #7 (permalink)
Market Wizard
Houston, TX
 
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mannya View Post
I am a two car all in all out trader using a 12 1 1 setting on unirenko. Is there any indicator or combination that will help me stay in the trade longer?
A trailing stop of 14 ticks gives away most or all of my gain but there are many 30, 40 60 tick moves in the CL which I miss most of with an 18 tick target.

Thanks so much for your assist, past and present.

Ergodic (5,30,5)

After all, it's what you learn AFTER you know it all, that counts!
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  #8 (permalink)
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Valdosta, GA. U.S.A
 
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Ergodic Indicator

@ TheWizard....Could you post the Ergodic Indicator for Ninjatrader?
I am also interested in trying this one.
Thanks in Advance.

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  #9 (permalink)
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Lubbock TX
 
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mannya View Post
I am a two car all in all out trader using a 12 1 1 setting on unirenko. Is there any indicator or combination that will help me stay in the trade longer?
A trailing stop of 14 ticks gives away most or all of my gain but there are many 30, 40 60 tick moves in the CL which I miss most of with an 18 tick target.

Thanks so much for your assist, past and present.

The problem is that whatever you use to keep you in for the bigger moves will most likely cause larger draw downs for those trades that aren't the bigger moves. Also, your win rate will go down.

imo, the situation you face is 2 problems as a minimum. Simply put, small moves and big moves. Do you treat them the same or do you treat them differently? I submit to you they should be treated differently which means you need 2 strategies or pick the one you want the most and work with that and ignore the other.

1. So, if you pick small moves, develop your strategy around capturing those small moves and if by some small chance you get a bigger move as well then consider yourself lucky. But whatever you do, don't get frustrated when you see that you "left a lot on the table". The part that was left on the table is not in your plan. It is part of the bigger move plan that you haven't developed. So, ignore it and move on to the next small move entry.

2. If you choose to trade the big move plan, then expect a lower win rate, larger draw downs, and watch a lot of your profit in a single trade go very high and then in the same trade disappear and maybe even turn into a loss. Whatever you do, don't get frustrated when you look back and see all those small move successes within the big move that you could've capitalized on. Those small move successes aren't in the big move plan.

In both cases, you must be willing to accept whatever happens in these plans and not get frustrated with situations that occur outside the definition of YOUR plan. That is the nature of using indicators.

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  #10 (permalink)
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I failed to mention this. When developing a trading plan, stay away from stops and targets at the beginning. Allow the indicator to tell you when to enter and exit. Only after you've settled on your indicator should you introduce stops and targets. Fight the urge to add more indicators. Only use 1 indicator in it's purest form before you start adding stuff and you may learn something about the indicator that you didn't know. In fact, adding stuff only makes things worse for you in the long run.

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