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Finding a "trigger" signal/indicator
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Finding a "trigger" signal/indicator

  #1 (permalink)
Elite Member
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Finding a "trigger" signal/indicator

I was wondering if people wouldn't mind sharing some of the tools they use as "triggers". I mean what is it that you need to see to pull the trigger. I suppose some sort of divergence is pretty popular. And I suppose that some sort of price action is common as well; ie Higher Low, Lower High, Double Top Double Bottom. I was just wondering if there were any others that people have used and have had success with?

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  #3 (permalink)
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Aragorn View Post
I was wondering if people wouldn't mind sharing some of the tools they use as "triggers". I mean what is it that you need to see to pull the trigger. I suppose some sort of divergence is pretty popular. And I suppose that some sort of price action is common as well; ie Higher Low, Lower High, Double Top Double Bottom. I was just wondering if there were any others that people have used and have had success with?

I have had success with a CCI crossover. https://futures.io/elite-circle/11196-cci-simplified.html

However, it really depends on the person who is trading if the trigger will be a success or not. For example; I looked at perrys journal but I could not trade it because in my eyes it is too complicated.

The best thing you can do is read all the journals here @ futures.io (formerly BMT) and start a journal of what you like and didnt like. Play around with triggers in market replay or a demo account until you find the one which suits your brain and trading style. Only then will you find the trigger and trading style which is right for you.

Trading styles and what each trader sees when they look at a chart is unique to the trader.. kinda like a finger print; there are no two exactly alike.

SD

nosce te ipsum

You make your own opportunities in life.
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  #4 (permalink)
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trigger

I use JAM triggers at Strategic Day Trading.com

see thread trading the JAM way

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  #5 (permalink)
Trading Apprentice
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I would run far away from any vendor claiming they can teach you how to trade. Also I would run away from any teacher who breaks down trading stages by belts like in karate lol. The easiest way to make money in trading is to sell things to new traders. I probably would if I was smart but I don't have the stomach for it lol. It probably has a much more attractive invested time vs. reward curve.

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  #6 (permalink)
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I rely on PA over anything...I realize that saying PA is a pretty general statement but that has to be your main trgger.
All those other indicators ...whatever it is you use, for me just make a trade a little more likely to work, but I would never enter a trade based on an indicator alone.

Quite often I will enter trades without supporting evidence from an indicator. That is to say that my trade would be contrary to a indicator at the time of entry. The point is that they really can't tell you a lot especially at the turning points other than maybe that it's "ripe" for a turn around

I really like to see pinbars or engulfing bars and if they are off a double top/bottom that's even better.
It would be difficult to explain everything in a single post because of the nuances and so forth but that's the gist of it

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  #7 (permalink)
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I once heard in a webinar on market profile by Tom Alexander that traders in general over emphasis the idea of finding a directional bias before taking a trade. He even went so far as saying we could use the flip of a coin and be profitable if only we could trade at levels where there is huge imbalance in supply/demand. That makes sense if you think about it. By flipping a coin you get a 50% chance of being right so if you open a position at levels where your risk/reward is 5:1 or more then you'll make money over the long term no matter what your trigger says, ie, going long or short. In short, the trigger is not that important but finding good locations should be your primary concern.


Last edited by trendisyourfriend; January 11th, 2012 at 03:29 PM.
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  #8 (permalink)
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trendisyourfriend View Post
I once heard in a webinar on market profile by Tom Alexander that traders in general over emphasis the idea of finding a directional bias before taking a trade. He even went so far as saying we could use the flip of a coin and be profitable if only we could trade at levels where there is huge imbalance in supply/demand. That makes sense if you think about it. By flipping a coin you get a 50% chance of being right so if you open a position at levels where your risk/reward is 5:1 or more then you'll make money over the long term no matter what your trigger says, ie, going long or short. In short, the trigger is not that important but finding good locations should be your primary consideration.


I think you are absolutely correct....I made the assumption in my post that any aforementioned trades would be off/around S/R levels

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  #9 (permalink)
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My original hope was that some sort of bid/ask volume tool was being used such as from gomi's or Zondor's excellent contributions. Of course RJay and others have contributed immensely but I like using recorded data for persistence. Meaning if I have to restart NT I don't lose historical volume.

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  #10 (permalink)
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Deusomega View Post
I would run far away from any vendor claiming they can teach you how to trade. Also I would run away from any teacher who breaks down trading stages by belts like in karate lol. The easiest way to make money in trading is to sell things to new traders. I probably would if I was smart but I don't have the stomach for it lol. It probably has a much more attractive invested time vs. reward curve.

Yep! Selling indicators or your philosophy on trading in general is a great way to hedge any down times
your method or system may produce. Nobody is flawless. It's also great for extra income.
Right now I am only trading but in the future I may write a book, sell an idea, method, indicator, etc.

If people want it, then why not?

In business, if you have an ice cream stand and people ask for pancakes, give them pancakes.

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