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Perrys Trading Platform
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Perrys Trading Platform

  #821 (permalink)
Elite Member
Bala, PA, USA
 
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plethora View Post
I hate to say this, but I have never looked at the DMPlusSignals indicator for ENTRIES. I've read this thread 3X+ and no where is that entry mentioned. Price action first, indicators for confirmation. I mention this only because it makes me feel less like a fool for asking you to say a little more about it if you have found that method to be successful for you.

Yes, there's nothing more I would like to see than charts of other traders who are using this method. I swear, once I begin to trade it live successfully, I will be showing off my daily charts daily.

Thank for your response, monpere.

Latest version of the indicator is found here https://futures.io/ninjatrader-programming/5220-perrys-trading-strategy-development-21.html#post76101 It is a different thread, mainly about the coding of the method.

Please, someone show some charts of how they traded a typical day, with some trade rationale thrown in maybe... Show meeeeeeeee the money!

 
  #822 (permalink)
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Southsea View Post
Just so make sure I understand, the FI is set on the HMA13 only, correct? Do you EVER take trades where everything looks awesome EXCEPT the FI? Any circumstances in which you do so? Thanks so much. This is a very VERY good setup my friend. The drawdown on a loss is 3x the gain, but the win/loss ratio more than makes up for it. From working sim the past few days, I've been doing 12-24 pips/day. If one is careful and "to the letter" on trades, do you find this to be the case in live trading?

Southsea,
The FI is EMA(13) and NOT HMA(13). The drawdown of 3x the gain, is not there to be taken, I explained in a previous reply that the Stop Loss of 12 is a CATASTROPHIC stop loss and not one that you wait to be played out. IF you see you on in the wrong direction GET OUT LONG before the the SL. Regarding your other comment please give an example chart.

 
  #823 (permalink)
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perryg View Post
Southsea,
The FI is EMA(13) and NOT HMA(13). The drawdown of 3x the gain, is not there to be taken, I explained in a previous reply that the Stop Loss of 12 is a CATASTROPHIC stop loss and not one that you wait to be played out. IF you see you on in the wrong direction GET OUT LONG before the the SL. Regarding your other comment please give an example chart.

Thanks Perry, my mistake. btw, does the FI in hash repaint? It doesn't look like it does, but just want to be sure. Thanks as always, ss

 
  #824 (permalink)
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monpere View Post
Have you looked at the DMPlusSignals indicator which identifies the entries for this method? If you use that, you can let the indicator identify entries, and you can concentrate on determining the quality of those entries, rather then counting bars on the screen, and squinting to see if squiggly lines are going up or not. Indicators are our friends!

M-A-J-O-R-B-R-E-A-K-T-H-R-O-U-G-H!
This is the piece of the puzzle I curiously missed.
For long trades, the +DI must be pointing up and above the ADXAbove (blue above green).
It was a little fuzzy in my mind when I was reading about through the thread. Perhaps because it wasn't specified as a "rule", I think I glossed over it but this is crucial to the methodology.
Thank you for bringing this to my attention, monpere.

Now, everything has come together. The light is finally shining brightly.

I go back days and days and I see the setup clearly. When to trade and when to stay out.

Plus, the 6B is calling my name loud and clear. Maybe because the dollar value is half other instruments the big boys stay away, but the candles are almost wick-free and full bodied and smaller, so there are more candles and more movement and better trending than the 6E. The way I see it, for long trades (opposite for shorts), if I genuinely wait until the EMA(5) move up above the EMA(50), then it automatically is above the EMA(20) too, I could realistically have a 10 tick target and 10 point stop. Of course, everything else has to be lined up, too. In any event, I'm going to try it out on the Sim. I feel confident for the very first time. I can even visualize the setup in my mind now without looking at the chart.


Last edited by plethora; January 22nd, 2011 at 09:17 PM.
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  #825 (permalink)
Market Wizard
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plethora View Post
M-A-J-O-R-B-R-E-A-K-T-H-R-O-U-G-H!
... I can even visualize the setup in my mind now without looking at the chart.

that is in deed how you front run the indicators.

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  #826 (permalink)
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plethora View Post
M-A-J-O-R-B-R-E-A-K-T-H-R-O-U-G-H!
This is the piece of the puzzle I curiously missed.
For long trades, the +DI must be pointing up and above the ADXAbove (blue above green).
It was a little fuzzy in my mind when I was reading about through the thread. Perhaps because it wasn't specified as a "rule", I think I glossed over it but this is crucial to the methodology.
Thank you for bringing this to my attention, monpere.

Now, everything has come together. The light is finally shining brightly.

I go back days and days and I see the setup clearly. When to trade and when to stay out.

Plus, the 6B is calling my name loud and clear. Maybe because the dollar value is half other instruments the big boys stay away, but the candles are almost wick-free and full bodied and smaller, so there are more candles and more movement and better trending than the 6E. The way I see it, for long trades (opposite for shorts), if I genuinely wait until the EMA(5) move up above the EMA(50), then it automatically is above the EMA(20) too, I could realistically have a 10 tick target and 10 point stop. Of course, everything else has to be lined up, too. In any event, I'm going to try it out on the Sim. I feel confident for the very first time. I can even visualize the setup in my mind now without looking at the chart.

You will see the explanations in relpy https://futures.io/traders-hideout/3514-perrys-trading-platform-2.html#post34729. When the ADX is in chop. i.e. below both the + and - DM, watch and see that if it STARTS to TURN UP, you can make a entry even if it is stilll showing chop. An excellent entry is when the ADX crosses one of the Dm lines from the bottom coming out of chop.

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  #827 (permalink)
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Perry - is the ADX line seen in the default DM indicator or a custom one from downloads?

 
  #828 (permalink)
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emini_Holy_Grail View Post
Perry - is the ADX line seen in the default DM indicator or a custom one from downloads?

The ADX line can be seen also in the standard DM indicator, but in the DMPlus indicator you have the coloured lines when in chop mode.

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  #829 (permalink)
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I went through the whole thread again this weekend trying to identify all the 'discretionary' items
that have been mentioned in considering trade selection and/or management. I am the mechanical type, so unfortunately, I don't seem to have one discretionary gene in my body, so I am attempting to get a sense of the discretion generally applied to this method. Let me know if anyone has additional inputs or corrections.

Chop
---------
* CHOP: When the ADX is BELOW BOTH the +DI AND the -DI (Post #20, #430)
* Do not trade when ADX is below 25 (Post #264, #349)
* IF ADX is yellow (CHOP) but hooked up, and all other rules are met, trade can be taken (Post #168, #327, #391, #578, #826)

Trade Management
-------------------
* No trade when target will have to challenge most recent pivot high/low (Post# #57, #97, #155, #423, #697)
- No trade when target will have to challenge a Murray line (Post #166, #423, #697)
- Exit trade or take partial profit if trade is approaching a Murray math line, you should not have been in that trade anyway righ? (Post #175, #210, #234)
- If trade breaks the previous bar low, get out of a long trade (vice/versa for shorts), hence stop 2 ticks below that bar (#293)
- END OF TREND: When the ADX is ABOVE BOTH +DI and -DI, once the ADX turns DOWN, this is usually the Top or Bottom (Post #20, Post #78, #430)
- If trade is not going in intended direction after a few bars, exit the trade (Post #505, #790)
- Do not trade 5min before and 5 min after ForexFactory 'High Impact' News events (Post# 387)

Instruments
----------------
- Traded instruments 6A, 6B, 6E, 6S, 6C, 6J, TF, EMD, NQ, YM all on 4 Range bars. (Post #532)
- Best instrument to trade to start out is 6E (Post #801)
- Most seem to prefer trading 6E 4 Range (Various)
- Best trading times during the day (Post #521)

Risk/Reward
-----------------
o Stops are 2 or 3 ticks behind bar previous to entry bar (#281, #412)
o On a 4 Range chart, Stop Loss at 6-7 ticks, Target 1 at 4 ticks, Break Even at 5 ticks, additional contracts as runners (Post #281, #412. #426)
- Catastrophic stop loss at -12 ticks (Post #786)

Alternate Trade Selection
---------------------------
- Watch for setup on 8 Range chart, and Enter Trade once trade also sets up on 4 Range chart, while 8 Range chart setup is still valid (Post #465)
- SMA(50) can be used for overall market direction. Some may prefer to only trade with the direction of the SMA(50). (Post #760)
- Indicator that identifies Perry's trading platform entries (Post #821)

 
  #830 (permalink)
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Great conclusion, it's important for me that 4 and 8 range are set correct on TRADE! I would also add that you set your charts to DELAY DATA to the minimum that is 100ms. (right click on every chart/properties/display update interval)On NT6.5 users can set it to 0. On NT7 it's default half a second but minimum 100ms. So anybody with 6.5 is at least 100ms faster than you.

So... how's the trading with it ??!!!!

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