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let me answer your question by showing you how i traded the ES today and then you can translate this to the YM. (as i mention before i trade the ES and my brother trade the YM)
My default stop for every trade is 3PT but i am adjusting it to 2 ticks below/above the BB
i only trade extremes (price are close to the Bollinger bands)
Trade 1:
as you can see in the chart (posted below) price bounced from the low BB i waited for D9 cross above 0 place my stop below the BB and prices never looked back
i trail my stop one tick below the blue Triple EMA line (never get stopped out)
exit when my trail stopped at the Triple EMA line
Trade 2:
Price create divergence D9 show low pick so i anticipate down move
D9 crosses below 0 line stop at the top of the band and trail with Triple EMA line
now you asked your self why i didnt take the cross down below 0 after my first trade , and the answer is look at the Detrend values and the predict value which show higher reading at that time so i skipped the short and expected divergence
which gave me the second trade.
i only traded those 2 setups and didnt take the 3rd one which also worked out good.
i hope this answer your questions
ban.
Can you help answer these questions from other members on NexusFi?
First thank you so much for sharing your system. Being a very frustrated newbee, I really appreciate what you have shared. It help me "brighten a dim light"
I have read your post here as well as on the d9Particle thread. Can you please expand on how the 7 range chart comes into play for entries?
Also, I'm not sure if its feasible for you, but can you please keep posting charts like the one above. I know I find it very helpful and I guess others would as well.
i use 7 range to see what is the general direction of the price
as you can see in the chart today was a perfect setup which is not always the case
prices were in the low band for the long and the high band for the short
always have 2 charts in front of you and you will see that
very simple setup , once you master this setup you will do just fine.
For long entry, when d9 crosses zero, are you looking for the predict to be higher in value than detrend or are you looking for predict and detrend BOTH to be positive?
Same for short. Are you looking for predict to be lower in value than detrend or simply for both to be negative.
I think the notes on the D9 indicator point out that the predictor number should be LESS than the detrend number. And if it's NOT, then a reversal is imminent (either direction).
predict should be higher for long and vise versa for short , but the way i am looking at these number is when the market next the BB low/high i can see if reversal is coming
I think everyone can agree that day trading can easily be described as a dream job. Naturally, this is only the case if you are making money, but nonetheless trading gives you unparalleled freedom and control over your own destiny.
