NexusFi: Find Your Edge


Home Menu

 





"It Always Comes Back"


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one sorge2000 with 47 posts (37 thanks)
    2. looks_two MWinfrey with 9 posts (1 thanks)
    3. looks_3 Fat Tails with 4 posts (9 thanks)
    4. looks_4 MetalTrade with 3 posts (1 thanks)
      Best Posters
    1. looks_one Fat Tails with 2.3 thanks per post
    2. looks_two Big Mike with 1 thanks per post
    3. looks_3 sorge2000 with 0.8 thanks per post
    4. looks_4 ThatManFromTexas with 0.5 thanks per post
    1. trending_up 14,058 views
    2. thumb_up 51 thanks given
    3. group 3 followers
    1. forum 71 posts
    2. attach_file 32 attachments




 
Search this Thread

"It Always Comes Back"

  #71 (permalink)
 rajafx1 
Toronto
 
Experience: Beginner
Platform: ninja
Trading: CL
Posts: 63 since Oct 2009
Thanks Given: 80
Thanks Received: 3


sorge2000 View Post
Another cloudy day in North West Ohio!

But a Glorious day for trading!
A day in the currency markets is like a day in Paradise!

Over the weekend I made a few adjustments to my Ninja Charts adding Heiken Ashi candles and changing the existing candles to a line.
I also installed an automatic regression channel and removed the pivots. I found that the pivots cluttered up the chart too much for my taste and I had used channels before and liked them.

I also adjusted my stop rules.

After taking the 1st target profit, I move the stop up to the bottom (or top, depending on the trade direction) of the previous Heiken Ashi candle using the 1100 tick chart (my entry was based on the 512 tick chart).
I continue to do this until being stopped out. I wanted to do it this way because my logic says that if I continue to move the stop, effectively having a target from below (in the case of a long trade), I won't miss the potential big move or at least have a lower probability of doing so.

This is where it got interesting:

I made 3 trades in my PFG account using this method. All 3 were stopped out after taking the 1st target profit (+3 pips) and adjusting the stop. This netted +12.8 pips

The 4th trade I made on my thinkorswim account using Ninja charts but entering it into the thinkorswim active trader.
This trade went as planned but I noticed that I was approaching the top of my channel and the opening of the US market so I moved the 2nd target (a limit order) down to just above the top of the channel.
I also moved the stop up to the bottom of the previous candle.
I thought to myself, "maybe I shouldn't have moved the target down". Just then the price spiked and triggered the 2nd target.
I was a little irritated thinking "Rookie Mistake" (of course, everything I do could be one big "Rookie Mistake" )
5 minutes before the bell the bottom fell out and I found my exit at the top of that move.

Talk about serendipity!

That trade netted +11.9 pips

Attachment 34408

Mike, if you, or anyone else, has an opinion regarding this plan I am open to hear it!

I find this method to be more comfortable psychologically as it assures that I won't move in and back out of profit turning a winner into a loser.

Hi
Could you please tell how you added the white line plotting always up or down of Heiken Ashi candle?

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Futures True Range Report
The Elite Circle
Are there any eval firms that allow you to sink to your …
Traders Hideout
Better Renko Gaps
The Elite Circle
ZombieSqueeze
Platforms and Indicators
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
38 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
GFIs1 1 DAX trade per day journal
19 thanks
The Program
18 thanks
  #72 (permalink)
 sorge2000 
Wauseon, Ohio
 
Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker: thinkorswim / PFGBest
Trading: ETFs
Posts: 63 since Jan 2011
Thanks Given: 19
Thanks Received: 41

Hi rajafx1,

Sorry for the delay in responding. Internet trouble.

To create the white lines using NinjaTrader 7:

- Right click on the chart
-Select Data Series or Ctrl+F
-Chart Style "Line on Close"
-Color "White"

If you have anymore questions, let me know

Visit my NexusFi Trade Journal Started this thread Reply With Quote




Last Updated on May 31, 2011


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts