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Favorite Futures: Index,Currency and Energy futures
Posts: 1,705 since Jan 2010
Thanks: 507 given,
6,268
received
Beth,
If I understand your question, you do not wait for the EMA5 to go up at least 2 bars if you have all the conditions right. For the conditions to be right, we must have HAD the EMA5 going up at least 2 bars to the setup bar. So if I have choosen a setup bar, I want to see that the EMA 5, from the setup bar backwards, has gone up at least 2 bars, this will guarantee that we are in an up side trade.
I hope this is clear now, if not come back at me with all your questions.
The following 4 users say Thank You to perryg for this post:
Thanks Perry for your Prompt response and clarification.
Well, I haven't been paying attention to the bars (at least 2) before the signal bar LOL! I scanned through your set-up and almost everytime there're at least 2 bars aligned with the EMA5 .. smile ..
Perry,
Thanks man excellent share. Too bad I didn't find this post sooner could have saved me some bucks. But, I am filtering the boomerang with some of the suggested indicators. Which helps detect chop and other gaps with this system. Looks like last Thursday's breakout would lead to bigger swings in the ES. We have had some tight ranges for awhile. When the market is compressed its a matter of time till it explodes like on Thurs. Hope to see continued big swings. I have seemed to rambled to much.
Thanks
Perry & The Notorious BIG Mike
"REMEMBER IF YOU TRADE AND MAINTAIN YOUR ACCOUNT BALANCE THE SAME, THE MARKET REWARDS YOU WITH $$$"
The following user says Thank You to babypowder for this post:
I created dots for method 1. To make it easier to place the orders, the dot is plotted at the entry mark, i.e. highest high of the last 5 bars + 1 tick or lowest low of the last 5 bars - 1 tick. After the dot appears and you like the setup, then you can place the order right on the dot. I was looking at cl today on the 5-minute chart, and the highest high and lowest low criteria would have done a pretty darn good job of keeping you out of the chop early in the day. However, it occasionally creates a late entry, so I was contemplating adding a condition using the bollinger or specifying that the ema 5 has to be within a certain number of ticks from the ema 20. Anyone have any ideas? Also, I wasn't for sure if the force index should be ema 13 and ema 13?
Team,
I have been playing around with both the VHF and jtrealstats. When conditions are met with Perry's method (long lets say). I wait till jtrealstats is blue and VHF breakout from the shaded gray to an upward slope to go long. As soon as VHF turn to a 0 slope or downward slope I exit (both long and short). But this makes the chart look really busy if I add another indicator I'll pop this computer. Still tweaking might look into BB as suggested by Mr. Vegas.
Favorite Futures: Index,Currency and Energy futures
Posts: 1,705 since Jan 2010
Thanks: 507 given,
6,268
received
VegasFoster
I have looked at the dot indicator, and the logic seems to be right, but the dots almost always come AFTER the entry point. I fully understand why this happens as you have to wait until the bar closes to put the dot. When you trade Price action, which my method is based, you must enter at the right point otherwise you will miss the trade, and we never want to chase a trade.
When I look at the chart, it is almost obvious when to enter based on my simple rules, and you generally have plenty of time to place a Stop order at the low/high of the entry bar. Your idea is very compendable, as there are places that one could have taken trades. In most cases it looks as though the dot should have been one bar before in order to give an alert to place a potential trade.
The following 2 users say Thank You to perryg for this post:
Appreciate very much your clarification on entry bar please. I'm not sure if it's the signal bar when/where everything aligns for a trade OR it's the bar when/where one actually enters a trade?!! Your kind response will help my placing an effective SL. Thank you.
