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Perrys Trading Platform
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Perrys Trading Platform

  #411 (permalink)
Elite Member
Kansas City, MO
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Futures
 
Posts: 36 since Jul 2010
Thanks: 494 given, 10 received

HI Perry. I struggle with trade management once I get in a trade. Of course, this isn't just with your system, but just a problem I have in general Do you let your ATM strategy manage the trade to its conclusion, or if circumstances change, do you get out of the trade or move your stop to B/E? For instance, today the force index was blue when I went into a trade, and then turned red. Also, the ADX went quickly from trade to chop. Would you close out this trade?

I had a trade earlier today (on NQ), that went 8 ticks in my favor, I moved my stop up to +1, and then it came back to take me out to the tick, and then proceeded down another 45 ticks without me.. I would appreciate any feedback you can give me. Thanks.

Gary

The following 2 users say Thank You to mizzoutrader for this post:
 
  #412 (permalink)
Elite Member
Rechovot
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: CQG
Favorite Futures: Index,Currency and Energy futures
 
perryg's Avatar
 
Posts: 1,703 since Jan 2010
Thanks: 504 given, 6,262 received


mizzoutrader View Post
HI Perry. I struggle with trade management once I get in a trade. Of course, this isn't just with your system, but just a problem I have in general Do you let your ATM strategy manage the trade to its conclusion, or if circumstances change, do you get out of the trade or move your stop to B/E? For instance, today the force index was blue when I went into a trade, and then turned red. Also, the ADX went quickly from trade to chop. Would you close out this trade?

I had a trade earlier today (on NQ), that went 8 ticks in my favor, I moved my stop up to +1, and then it came back to take me out to the tick, and then proceeded down another 45 ticks without me.. I would appreciate any feedback you can give me. Thanks.

Gary

I use an ATM strategy to manage my trades. The SL is dependent on the size of the Range bar. If the Range bar is 4 the nthe SL will be 6-7 ticks. I then automatically take off 1 contract at 4 ticks, then at 5 ticks move the SL to BE+1 and let the second contract be a runner. Of course I watch it and move SL up if necessary. The reason to take 4 ticks immediately is that in case the trade turns against me I have reduced my losses.

The following 6 users say Thank You to perryg for this post:
 
  #413 (permalink)
Elite Member
Kansas City, MO
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Futures
 
Posts: 36 since Jul 2010
Thanks: 494 given, 10 received



perryg View Post
I use an ATM strategy to manage my trades. The SL is dependent on the size of the Range bar. If the Range bar is 4 the nthe SL will be 6-7 ticks. I then automatically take off 1 contract at 4 ticks, then at 5 ticks move the SL to BE+1 and let the second contract be a runner. Of course I watch it and move SL up if necessary. The reason to take 4 ticks immediately is that in case the trade turns against me I have reduced my losses.

Thanks for your feedback Perry. So, if the force index changes color, or the ADX goes into chop mode before you get to your first or second target, would you close out the trade, or let your ATM strategy go to its conclusion?

Gary

 
  #414 (permalink)
Elite Member
Rechovot
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: CQG
Favorite Futures: Index,Currency and Energy futures
 
perryg's Avatar
 
Posts: 1,703 since Jan 2010
Thanks: 504 given, 6,262 received


mizzoutrader View Post
Thanks for your feedback Perry. So, if the force index changes color, or the ADX goes into chop mode before you get to your first or second target, would you close out the trade, or let your ATM strategy go to its conclusion?

Gary

The FI and the ADX can only change on the NEXT bar, that is why I take the profit target BEFORE the close of the bar i.e. 5 Range bar - PT = 4. So generally you will reach T1. I do not generally look at the indicators after entry into a trade, but watch the price action.

 
  #415 (permalink)
Elite Member
Kansas City, MO
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Futures
 
Posts: 36 since Jul 2010
Thanks: 494 given, 10 received


perryg View Post
The FI and the ADX can only change on the NEXT bar, that is why I take the profit target BEFORE the close of the bar i.e. 5 Range bar - PT = 4. So generally you will reach T1. I do not generally look at the indicators after entry into a trade, but watch the price action.

Thanks Perry. I appreciate your input.

Gary

 
  #416 (permalink)
Elite Member
Springfield, MO
 
Futures Experience: Intermediate
Platform: SC
Favorite Futures: ES
 
Posts: 106 since Mar 2010
Thanks: 2,257 given, 45 received

Quick Confirmation of Setup

Perry,

Attached you find a chart of the ES from this morning opening with a white arrow pointing at what I think is a setup bar. My simple mind is confused because, at times, it is hard to tell whether or not the low or high is sitting on the correct line, etc.

Simply, could you tell me if you would have taken the trade based on the setup bar (white arrow)?

Thanks for all your patience and for sharing.

Attached Thumbnails
Perrys Trading Platform-es_2010-08-12_0856.png  
The following user says Thank You to Affliction for this post:
 
  #417 (permalink)
Elite Member
Rechovot
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: CQG
Favorite Futures: Index,Currency and Energy futures
 
perryg's Avatar
 
Posts: 1,703 since Jan 2010
Thanks: 504 given, 6,262 received


Affliction View Post
Perry,

Attached you find a chart of the ES from this morning opening with a white arrow pointing at what I think is a setup bar. My simple mind is confused because, at times, it is hard to tell whether or not the low or high is sitting on the correct line, etc.

Simply, could you tell me if you would have taken the trade based on the setup bar (white arrow)?

Thanks for all your patience and for sharing.

Good Entry. When working with Min charts it is easier to see touch or crosover of 5 EMA, on Range bars it also good if it just touches.

The following 3 users say Thank You to perryg for this post:
 
  #418 (permalink)
Elite Member
Springfield, MO
 
Futures Experience: Intermediate
Platform: SC
Favorite Futures: ES
 
Posts: 106 since Mar 2010
Thanks: 2,257 given, 45 received


perryg View Post
Good Entry. When working with Min charts it is easier to see touch or crosover of 5 EMA, on Range bars it also good if it just touches.


Thanks Perry. I have a tendancy to make things more complicated than they acutally are in realtime. Helped a lot!

 
  #419 (permalink)
Elite Member
Rochester Hills, Michigan
 
Futures Experience: Advanced
Platform: Tradestation
Favorite Futures: Currency Futures
 
Posts: 200 since Jul 2010
Thanks: 856 given, 142 received

Help Understanding

Could you explain the two middle bands.... blue and red and the uses or how to read them on your charts...I believe that one is jeffs adx and unsure of the other...Thanks in Advance

 
  #420 (permalink)
Elite Member
Rechovot
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: CQG
Favorite Futures: Index,Currency and Energy futures
 
perryg's Avatar
 
Posts: 1,703 since Jan 2010
Thanks: 504 given, 6,262 received



incometrade View Post
Could you explain the two middle bands.... blue and red and the uses or how to read them on your charts...I believe that one is jeffs adx and unsure of the other...Thanks in Advance

There is only one Blue and Red band, and that is the FORCE INDEX. Red is Short and Blue is Long.


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