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not trading off the seat of my pants
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not trading off the seat of my pants

  #61 (permalink)
Elite Member
North Port, Florida
 
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still in 6E trade...

with a long.

waiting for something from IWM.....................

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  #62 (permalink)
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waiting for IWM

candle to close to see if chart will paint triple red to go short.

6E is fading...but going to hold on stop for now.....waiting....

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  #63 (permalink)
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Didn't paint RED


at all.....we just have a RED zlema on the IWM...still not in a trade


6E in consolidation.....................waiting................see the SuperTrend stop is moving sideways. We have neutral bars and a neutral backgound, one could make a case for closing this trade. Only the zlema is BLUE.

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  #64 (permalink)
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Okay short 200 IWM....

Next bar we got a triple RED (signal bar)....shorted the next bar (trigger bar)

6E......the same

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  #65 (permalink)
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Monday trade recap.......

Since the last post the 6E got stopped out. Indeed I watched the bars turn RED in the RED background, but the zlema never turned RED. After the stop out the market reversed and headed higher. So, so what? Well, this is a teaching thread and I am teaching myself and any body else that's aboard for the ride. I am a longer term trader and that is where my focus is now. They say 90% of the traders fail at their objective of success. Maybe these traders are more short term orient. This strategy is the triple colors but the colored zlema seems to have a higher weigh. Lastly I put a LMT order instead of a MKT order for the continuation trade....didn't execute.

The strategy is not discussing divergence, but there was divergence before price reversed back to the neutral zone.

The IWM trade: reversed back to the neutral zone off divergence, now back into profit on the close. Bottom line: zlema still RED.

A work in process........later.

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  #66 (permalink)
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Back from a long weekend. Your templates have changed considerably. Especially the SharkTrend. And the SuperTrend almost looks eliminated. I've read thru twice what I've missed, but I'm still a little confused.

1) Are you still using the SuperTrend and how?
2) The Shark trend is set up completly different in the panes, can you give a crash course on how to read, or direct me to the source?

thanks, Patrick

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Hi,

Some of your recent posts read more like a trade journal than a method you are teaching. As you know, I firmly believe journals are crucial to success --- so nothing wrong with that. But, if you want to win the teaching methodology prize......

Mike

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  #68 (permalink)
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Crash Course.....


rpm123 View Post
Back from a long weekend. Your templates have changed considerably. Especially the SharkTrend. And the SuperTrend almost looks eliminated. I've read thru twice what I've missed, but I'm still a little confused.

1) Are you still using the SuperTrend and how?
2) The Shark trend is set up completly different in the panes, can you give a crash course on how to read, or direct me to the source?

thanks, Patrick

Good Day Patrick, I merged the two templates into one. You liked the template with the two different TSIs set at different parameters to color the background in two tones. This template has the TSI and SharkChop painting the backgrounds, the darker tone is the strongest part of the trade.

1) I removed the anaSuperTrend because the SharkTrend has a built-in SuperTrend as you can see in Image 1. So I decided to use this one. I look at the SharkTrend code and it's SuperTrend is coded to calculate the median of the price bar. Both are suppose to be the same.

2) The SharkTrend is the same in panel 1, the main focus is the zlema as before. The new (merged) feature is the SharkChop (image 2) in panel 2. The main focus of the SharkChop is the chop zone between the 40 & 60 lines. If the green and gold lines enter this zone and stay there....we have price consolidation. If the green and gold lines enter the chop zone and cross and exit the chop zone, we have a trend reversal. The minor focus is the SharkChop painting the background to two tone the TSI background indicating the strongest part of the trend.

+) Both the TSI and the stoch line in the SharkChop show divergence.

The strategy is still the triple color. I just added the SharkChop to help with interperting price action. I continue to see the SharkTrend zlema keeping one in the trade to conclusion.

Thanks for asking questions. Lets keep the Q&A going..................................Tiberius

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  #69 (permalink)
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Thanks. Will load the new .xml's and get them set up. You may need to do some more 'splaining tomorrow on that Sharktrend though. Or whatever that is in Panel 2. It's a blur. Thanks.

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  #70 (permalink)
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Tuesday's Tidbit.......



rpm123 View Post
Thanks. Will load the new .xml's and get them set up. You may need to do some more 'splaining tomorrow on that Sharktrend though. Or whatever that is in Panel 2. It's a blur. Thanks.

The 2 6E images are just examples of yesterday's afternoon into the evening and the morning price action. Of course I don't know the future. I was studing the charts and changed the range from 18 to 6 and created a 6 BetterRenko chart. Here is my story as an example of the strategy. At 2:23 PM on the range chart we got a triple RED, this got my attention. The red bar were flashing white on the uptick, so I decided to put a STPLMT order in under the lows of the forming price step. The execution was almost perfect on the 6 range chart but one bar premature on the renko chart.

It's mostly about the exit of a trade than the entrance. On this trade I do want to stick with the red zlema, but. See I said the word "but". As the trade progressed, I saw the TSI go neutral and the SharkChop dots start to pinch and the white price bar. Because the SharkTrend is set to "calculate on close"...false; the SuperTrend stop inside the SharkTrend is moving because the price bar median changes as the price bar expands. So I moved my stop forward but not backwards this time and I was stopped out to the tick. A 13 tick or pip trade.

My old adage of staying in the trade with the zlema. You be the judge. The 6 renko chart is still in the red zlema trade as I write this.

Quick run down on the SharkChop indy (ZSharkTrendStochChop) 2nd panel: The red line is the double stochastics. The top green line and bottom red line are OB/OS. The area between the 40 and 60 lines are the chop zone. The fat blue 50 line is the trend reversal line. The green and yellow dotted lines are the chop long and chop short lines. Lastly the large blue, yellow and red dotted line is the non lag MA trend line; parameters 1 - 6.

I have run out of "things" to write.....................later Tiberius

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