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The Shawshank Redemption


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The Shawshank Redemption

  #21 (permalink)
 
babypowder's Avatar
 babypowder 
Brooklyn, NY
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus/IB/FinFx
Trading: ES, Forex
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Bengaltiger View Post
I sincerely appreciate you taking the time and effort to share this simple yet effective trading method using PA & TL's. Would appreciate your feedback to the following:-

1) Apart from the CL & ES, is the technique as successful in more trending markets like the 6E? I know you have included some 6E charts but I was wondering on the consistency of the method on markets that tend to trend more.
*Yes, where-ever PA is applicable which would be every market (but not tested by me). If CL works then 6E definitely since many believe CL to be a beast.

2) As is usual, a larger time frame will result in more reliable trades but what about daytrading the method. Have you seen any consistency patterns on lower time frames?
*Yes, about 2-3 trades (lower time frames) during 8pm-noon EST.

3) Being a PA trading method, I was wondering on using "non-time" charts (i.e. Tick Bars, Range Bars, Vol Bars, Renko Bars, etc. etc) - any thoughts in that direction?
*Thanks for bring this up. I was going to illustrate next week different charts but we'll start now. To answer your question yes at least for tick and volume charts. I have not tested range/renko and others. Reason being wicks. I like to see them with my PA. Not to say range/renko and others would not work but I'll begin testing with examples.

In the meantime this is todays ES example using tick, time and volume. (There were 2 TL break plays in the charts)

382 Tick chart, 382 Tick - babypowder's library
1000 vol. chart, 1000 [AUTOLINK]Vol[/AUTOLINK]. - babypowder's library
1 Min chart, 1 Min - babypowder's library (1 min chart only shows 1 TL break play due to PA reading)

Above is prime example of PA subjectivity on the 1 min chart it just did not look right to me. If the picture looks bad stay back. Will follow up with other chart types.

Thanks!


Thanks,
BP

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  #22 (permalink)
 
babypowder's Avatar
 babypowder 
Brooklyn, NY
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus/IB/FinFx
Trading: ES, Forex
Posts: 182 since Apr 2010
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2 signals today.
ES- 1 min chart, ES - babypowder's library. (Failed TL Break play)
ES- 1 min chart, ES - babypowder's library.

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  #23 (permalink)
 
babypowder's Avatar
 babypowder 
Brooklyn, NY
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus/IB/FinFx
Trading: ES, Forex
Posts: 182 since Apr 2010
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6E- 1440 min chart, 6E - babypowder's library.
*So far step 1-3 are triggered, now we need a TL Break then I will look for a pullback. I will record both TL Break and pullback entries.

Here's another way of looking at the chart. https://screencast.com/t/VkIKQLrFH. Added an extra trendline to reveal another pattern. Many ways a TL can help paint a picture.

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  #24 (permalink)
 
rpm123's Avatar
 rpm123 
Green Bay WI
 
Experience: Intermediate
Platform: NT
Broker: AMP/CQG
Trading: 6E
Posts: 321 since Apr 2010
Thanks Given: 337
Thanks Received: 466

3) Being a PA trading method, I was wondering on using "non-time" charts (i.e. Tick Bars, Range Bars, Vol Bars, Renko Bars, etc. etc) - any thoughts in that direction?
*Thanks for bring this up. I was going to illustrate next week different charts but we'll start now. To answer your question yes at least for tick and volume charts. I have not tested range/renko and others. Reason being wicks. I like to see them with my PA. Not to say range/renko and others would not work but I'll begin testing with examples.


Cut and paste quote above.

The range bars on ninja now have wicks, BetterRenko bars developed by someone on the forum do too. Would be great to see some Range marked up charts. Thanks in advance.



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  #25 (permalink)
 
babypowder's Avatar
 babypowder 
Brooklyn, NY
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus/IB/FinFx
Trading: ES, Forex
Posts: 182 since Apr 2010
Thanks Given: 202
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Hey RPM,
Attached is 2 TLB entries using a 3 range chart, 3 [AUTOLINK]RANGE[/AUTOLINK] - babypowder's library.
Here's a 4 renko chart, 4 RENKO - babypowder's library.

*I noticed for intraday traders, you'll need smaller units i.e 2,3,4 range/renko to produce at least 1 signal a day.

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  #26 (permalink)
 
babypowder's Avatar
 babypowder 
Brooklyn, NY
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus/IB/FinFx
Trading: ES, Forex
Posts: 182 since Apr 2010
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ES- 15 min chart, ES - babypowder's library.
CL- 4 range chart, CL - babypowder's library.

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  #27 (permalink)
 
babypowder's Avatar
 babypowder 
Brooklyn, NY
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus/IB/FinFx
Trading: ES, Forex
Posts: 182 since Apr 2010
Thanks Given: 202
Thanks Received: 199

Follow up,
Our live setup in the daily 6E, 6E - babypowder's library. Last candle touched the TL to the tick, but no TLB. We will see tomorrow to see if we get a TLB trigger. Stay tuned.

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  #28 (permalink)
 
rtrade's Avatar
 rtrade 
Paradise, USA
 
Experience: Beginner
Platform: Big Charts
Trading: E-mini, Forex, Futures, Equities, Options
Posts: 499 since Nov 2010
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babypowder View Post
Follow up,
Our live setup in the daily 6E, 6E - babypowder's library. Last candle touched the TL to the tick, but no TLB. We will see tomorrow to see if we get a TLB trigger. Stay tuned.

It'll take out 1.3800

"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
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  #29 (permalink)
 
babypowder's Avatar
 babypowder 
Brooklyn, NY
 
Experience: Beginner
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Trading: ES, Forex
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rtrade View Post
It'll take out 1.3800


Hey Rtrade,
Check this out, 6E - babypowder's library.

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  #30 (permalink)
 
rtrade's Avatar
 rtrade 
Paradise, USA
 
Experience: Beginner
Platform: Big Charts
Trading: E-mini, Forex, Futures, Equities, Options
Posts: 499 since Nov 2010
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babypowder View Post
Hey Rtrade,
Check this out, 6E - babypowder's library.

Very nice! I like it.

"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
Visit my NexusFi Trade Journal Reply With Quote




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