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First of all NEVER chase a trade or entry. Your setup could have been ok, as the Entry bar was the high of 2 bars before. i.e. you had every thing in your favour except the ADX - chop, but you see that the ADX started to turn up on the bar where your entry was, so you could have taken it. I hope this is clear. Because you placed the entry long before it really happened you can see the ADX turn up
I received a few private messages enquiring about my automation effort on Perry's set up. I finally have a "beta" version (using Method 1) that can trigger both Long and Short trades. If one has an effective money/trade management plan, he/she may benefit from it. Sorry that I do not have the required data or skill to analyze the performance results. Plus more importantly I have not sim-traded it yet as it's born only minutes ago. I have no intention to sim-trade it and rather plan to use it for signal alert only! I sincerely hope that its release will not trigger excessive back-and-forth dialogues that may dilute this thread's main objective. Please bear in mind that this is Perry's thread.
Note to the Moderator: It's a BETA version created by someone (me) who does not know the programming language. Please do not post it to the official Downloads section.
I created it to express my gratitude and appreciation to Perry who has been very generous in sharing his profitable set ups with us. A Big big round of applause to Perry!
Beth
Important Reminder: I have no idea if the strategy may consist of bugs that may harm your computer (hopefully not). It's in cs format assuming that you already have the required indicators. You will need to copy it to the Strategy folder and F5 compile.
I received a few private messages enquiring about my automation effort on Perry's set up. I finally have a "beta" version (using Method 1) that can trigger both Long and Short trades. If one has an effective money/trade management plan, he/she …
I really appreciate you posting your trading system, and taking all of the time to answer questions about it. I am looking forward to trying your system out. I use Tradestation as my trading platform. I know many of your indicators are custom indicators on Ninja. Do you know if theses indicators are available for Tradestation? Thanks once again for all of your work.
Please can you advise on this one. If you take a trade based on your setups etc and scalp the trade, instead of following the trade all the way, then once you have exited (at a profit hopefully) at what point would you re enter if the market continued to move in the same direction?
So for example, if the market was trending up, the black EMA 5 is above the Blue EMA 20 etc, then what trigger would you use to re enter the market again? Is there a trigger based on the DI+ showing a buy signal.
I hope this makes sense. Please advise your thoughts and ideas. Great thread - Alan
You can take a continuation trade ONLY if all the setup condition of method 1 are in place again - as if you had not taken any trade before and this is your first trade.
I activated the strategy on 6E (sim trade of course) and it's triggering both Long and Short trades. Please be reminded that this BETA strategy only works on Range set up. Not minute or non-range ones because the Stop orders are based on counting HH or LL of 5 bars (incl Set Up one). If you're using non-range charts, you will need to change the code on Line Nos 83-84. Sorry that I don't know how. It took me hours to figure out how to count the bars LOL!
The manually tabulated performance results incl suggested trade/money management strategies are based on MFE. Please note that the strategy will trigger only 1-contract trades one direction. No BE/trail feature and No exit condition.
I received a few private messages enquiring about my automation effort on Perry's set up. I finally have a "beta" version (using Method 1) that can trigger both Long and Short trades. If one has an effective money/trade management plan, he/she …
Good morning, I have read through the tread and now would like to test it. I noticed the rules in post number 1 but have found many references to MA 20 instead of 40 and some other changes. Where can I find the current set of rules? Method 1 & Method 2?
Thank you very much for all of the help you are giving everyone.
