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How would *you* trade this?
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Created: by Maletor Attachments:3

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How would *you* trade this?

  #1 (permalink)
Member
Boston
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures/Transact
Favorite Futures: ES
 
Maletor's Avatar
 
Posts: 88 since Jun 2009
Thanks: 7 given, 26 received

How would *you* trade this?

Some real chop here on 2/17 (just a random date I pulled up).

It was probably a 5 - 7 point range the whole day.

Let me know how you stay out of the fakeouts.

In my experience if you wait for ADX to be greater than 20 most of the move is already gone and the trend is getting ready to reverse

I'd like to know your thoughts.

Maletor

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  #2 (permalink)
Site Administrator
Manta, Ecuador
 
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Big Mike's Avatar
 
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Maletor,

The only way I know of -- don't just look at that one chart.

Pull up a bigger chart, like a 10946 volume chart or 5m chart. Find a nice trend indicator. Only trade in the direction of the trend the entire day.

All day, I look at my big chart (10946v) to figure out if I am looking for longs or shorts.

Then I look at my medium chart (4181v) to figure out if a pullback is occurring or not.

Then I take my entries on a small chart (2584v).

You can modify the size of the chart to suit your style, but you get the idea. One chart cannot tell you everything.

Mike

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  #3 (permalink)
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Maletor's Avatar
 
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Makes sense. I usually do that by looking at 60m or 30m for trend.

I like the volume charts by the way, I'm trying them out now.

(Nothing beats 1597t though )

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  #4 (permalink)
Elite Member
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hi,
the beginning of chop you dont realize - thats fact.
but then - if its not making real HH / LL in this timeframe, its a warning for me. i stop trading + watch the market. for new trades to start again , i want to see new + clear steps with a HH / LL - series out of the range - not only a one-time peak above/below. thats pure priceaction-reading then.
or - like said - a break out in bigger charts.
a second way that could be traded countertrend on the the edges of the range, using some kind of a channel indicator - but thats another tradingstyle - i personaly cant handle that good - so i stay away.
max-td

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  #5 (permalink)
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Ausy Mick's Avatar
 
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nothing like chop ....

Hi Maletor

I found this software company called Scalper Software. They claim that their
pivot indicator works realy well in choppy conditions. I am considering buying the indicator for additional confirmation ... Here is what it looks like

Regards Mick

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  #6 (permalink)
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Peter's Avatar
 
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Looks interesting AM

Sure let us know if you test this. Igf it is as simply as it looks .. no worries anymore whether to take long or short

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  #7 (permalink)
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Ausy Mick View Post
Hi Maletor

I found this software company called Scalper Software. They claim that their
pivot indicator works realy well in choppy conditions. I am considering buying the indicator for additional confirmation ... Here is what it looks like

Regards Mick

Try and get a trial first. I've spent a lot of money on indicators, and my opinion is that if they don't offer a way to view them in action for free, even if it's only for a few days, then they are hiding something or over-marketing it.

Mike

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  #8 (permalink)
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Nice Mick I'd never seen that software.

I emailed them to ask why forex applications are never mentioned on their site (that's all I trade).

It'd be great to see some of your trade charts if you get the software.

The price looks fairly reasonable compared to a lot of software add ons.

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  #9 (permalink)
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scalper ninja

I pracically check this, It works in choppy markets , perticularly for ES with 4 range charts. But as you higher for range risk level increases. I practically check lot of softwares . This is some what useful about 50:50 in Choppy Markets.

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  #10 (permalink)
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There's some free scalper edition on the nt forum, maybe try that one first.

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