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)
can you look at the above picture and tell me why you wouldn't take the trigger LONG in the circle. Is it because of a news item or something? It meets the rules, in this case two straight green bars, but was not taken. Sorry if Im missing something here
Hi @sixsmith07
You are absolutely right.
My charts on 15th were only considering the shorts.
On 16th I turned the rules upside down and considered longs too.
Of course in your chart showing the 15th that long would have given extra points.
Thanks for pointing out.
Looks good.
How many points stop are you suing?
Also- many of the red candles will be produced on the back of data/number releases so isnt this to much risk???And you will not be able toenter at that price.
Also- if you see 2 red candles u cannot hold them thru a eco number release? as this would just be gambling surely??
This approach is uniquely thought for volatile consecutive days. A situation which we had the last 4 trading days.
Vola of 220 to 380 points a day and a very high volume. Really rare to see this during the year.
On such days my "normal" daytrade has no chance and the rules prevent from taking a trade.
This thread is a test for extreme volume days and even "number" will not have the strong effect seen in calmer
markets. If for some reason markets are shaken then we need a hint when to take a trade with high probability
of gaining good points. BUT: it IS high risk!
As for the stops I have not yet found the right distance. The 30 points I use normally is not good as the price
this week sometimes moved within minutes over 50 points in both directions. So we need to test more.
Price filling in this shaky moments has often bigger slippage - so shown results are hypothetical.
If we are in normal mode - then I will nearly never trade during a news release...
There is even a rule to get out before and reenter after the news.
But in high vola mode the moves are already before the news. So the
move within the release time should not harm the same way.
Checking out the very high volatile days on Monday and Tuesday - I had to update
my rule with an important TRIGGER:
To jump in with this easy "Walzer rule" the first candle needs a BODY of >50 points.
Not forget: on 30 min. candle.
Otherwise no trade!
I backtested and this is the important entry rule.
I will update in the original post...
Good trades
GFIs1
Today in the new march contract we could see a IB candle body of 47 points.
That is very near to the trigger point.
Need to carefully follow this short until 10:00 :-)
After a strong long IB from 09:00 to 10:00
it is an interesting constellation for a test:
If this downmove until 10:30 closes <9740 we
could see another good test condition..
Vola is good.
