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Perrys Trading Platform
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Perrys Trading Platform

  #971 (permalink)
Elite Member
Concord, CA
 
Futures Experience: Intermediate
Platform: Sierra Charts and NT7
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Hi Zt,

Could you please tell how you set up the delta volume....if I I am undestanding correctly if that is what you are doing with volume. BTW, great trading-Mark

Zt, please ignore my question, I just saw a previous post that stated my question:
"
The only addition to the Perry chart is that I utilize delta (via Gom "stuff").
This is how I read price intra bar.
Everything basically stems from the format Perry has outlined."



zt379 View Post
Hello floreacilin.
Yes I have the charts.
I trade off a 2 Momentum chart and utilize Delta.
I have initial targets of 2 ticks as limit orders and adjust in real time
if and when.
Attached is an example from morning of the 14th and 15th.
It will raise more questions than answers I think as its quite specific to how I've chosen to trade.
I'm not sure how I can help?.



Last edited by tradermark2009; April 16th, 2011 at 09:48 PM.
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  #972 (permalink)
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Rechovot
 
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Braulio View Post
Perry,

Been reading the thread and got hit by a question :

On post #92 you showed an example of an aggressive entry. Looking at the picture, the entry bar is the first bar with the slope of the EMA(5) down. Second bar with EMA(5) slope down missing. This means not all the conditions are positive, am I right?

On post #391 you say that "the Entry bar was the high of 2 bars before. i.e. you had every thing in your favor", which is in agreement with the previous post #92 (but on the short side).

QUESTION:
Is this what do you call an aggressive entry? If so, you would only need at least 1 bar up or down?
. The EMA(5) - the black line - must have gone UP/DOWN at least 1 bar
. Entry bar is the high/low of the 2 previous bars

Or am I over complicating everything?

I've re-attached your picture, hope you don't mind.

Thanks

I have not changed the rules in the attached example. You will notice that I have drawn the ENTRY LINES (those black dashed lines) as the correct entry according to all the rules. When I talk of an aggressive entry, this usually means that the trader does not wait for all the rules to play out but takes upon himself an extra discretionary decision. In the example you have shown I stated the fact that this was an aggressive entry. I saw that the EMA5 and the EMA20 were pointing down very sharply, we have a very nice deviation of the ema5 from the ema20, and all the indicators on the bottom were correct. So I said in all probabilities this will work out EVEN IF I DO NOT WAIT FOR THE FULL CONFIRMATION OF ALL THE RULES. This is what is called aggressive.

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  #973 (permalink)
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8 Range chart


Perry,

when watching the 8Range chart for a SETUP bar, you also want the ADX to be out of chop/topping of a trend and above 25, right?

Yesterday I saw a huge END OF TREND area on the 6E with a bunch of setups on! (see attached pic)

Do you also prefer the EMA5 to cross up and over the EMA20 on the 8Range to give you a higher probability?

Attached Thumbnails
Perrys Trading Platform-8range.jpg  

Last edited by Braulio; April 22nd, 2011 at 06:10 AM.
 
  #974 (permalink)
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Braulio View Post
Perry,

when watching the 8Range chart for a SETUP bar, you also want the ADX to be out of chop/topping of a trend and above 25, right?

Yesterday I saw a huge END OF TREND area on the 6E with a bunch of setups on! (see attached pic)

Do you also prefer the EMA5 to cross up and over the EMA20 on the 8Range to give you a higher probability?

You have a lovely Price Action on the 8 Range, I would imagine that on the 4 Range you would have had a good entry. The problem that I have been writing about all along in this thread, is that too much emphasis is placed on indicators. The indicators are only there to confirm what the PA is doing, and are usually lagging. Most people take the indicators as more important than the PA, and this is a wrong approach, as least in my trading style. Now for the answer to the question of the ADX. Some where in this thread I explained in detail what the ADX is showing. When the ADX is Above the DM+- it is SIGNALING that we are approaching the end of a trend. It is never something absolute. Most of the time the trend will end as soon as the ADX turns down after crossing both DM+- and above them, and sometimes it takes longer. SO the indicator is giving us a clue as to what to expect, but not more than that.
If your Price action according to the rules give you an entry on both the 4 and 8 Range, take the trade.

Incidently I like your color scheme on your chart. What is the background color you are using, and what colors did you use on the candles. Very nice.

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  #975 (permalink)
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Template

Here's the template I use for NT7 and 2 screen shots of the settings on the Chart Properties and Data Series.

Attached Thumbnails
Perrys Trading Platform-chart-properties.jpg   Perrys Trading Platform-data-series.jpg  
Attached Files
Register to download File Type: xml PERRY_8Range.xml (62.5 KB, 108 views)
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  #976 (permalink)
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Chart combinations

Perry,

If I choose to trade from a 3 range chart, I should also be using the 7 range combination, right?

So the possible combinations can be:

. 3 and 7
. 4 and 8
. 5 and 9

and so on? Why the 4 range difference between them?

There's another "famous" trader who also has this range difference on the charts he trades (5 and 9) so I was wondering about this common setting.

 
  #977 (permalink)
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Braulio View Post
Perry,

If I choose to trade from a 3 range chart, I should also be using the 7 range combination, right?

So the possible combinations can be:

. 3 and 7
. 4 and 8
. 5 and 9

and so on? Why the 4 range difference between them?

There's another "famous" trader who also has this range difference on the charts he trades (5 and 9) so I was wondering about this common setting.

This is a rule of the thumb for Range bars, like a similar rule of the thumb for Time charts is a 1:3 e.g. 1min and 3min or 5min and 15 min. For Tick charts your would use 150 Tick with 450 tick higher TF.. For time and tick charts the 1:3 rule could also be put down to the fact that 3 is a fibonacci number. This rule does not work exactly with range charts and should always be smaller.
You basically try to find the best FIT for the higher time frame that will give you confirmation for the lower time frame with entries not too distant apart. A very high time frame will give you very few entries on the lower time frame, so we really try and find a good fit for confirmation and quantity of entries.


Last edited by perryg; April 23rd, 2011 at 04:15 PM.
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  #978 (permalink)
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Hey Guys, and specially Perry. Just wanted to thank you for keeping this thread alive. Not sure you noticed but recently it celebrated it's birthday

I have tried to keep up with it, but it looks like few things have changed over time and the Quick Summary Post was last edited live 7-8 months ago.

I'd just like to know if the method as described somewhere on page 8 was changed, what would be the latest directions, indicators used and/or NT7 templates that currently fits the method.

Thanks again and happy trading

 
  #979 (permalink)
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omaron View Post
Hey Guys, and specially Perry. Just wanted to thank you for keeping this thread alive. Not sure you noticed but recently it celebrated it's birthday

I have tried to keep up with it, but it looks like few things have changed over time and the Quick Summary Post was last edited live 7-8 months ago.

I'd just like to know if the method as described somewhere on page 8 was changed, what would be the latest directions, indicators used and/or NT7 templates that currently fits the method.

Thanks again and happy trading

Nothing has changed. Everything works the same for NT7. Just import all indicators into NT7. If a system works and is successful for trading there should not be a need to change it. Too many traders chop and change from one system to the other. Take a system and if it works for you mold it to your trading personality and you should be successful.

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  #980 (permalink)
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Thanks for the reply. I definitely agree with you, but even if something that works may be improved (maybe not in your case, with 90% wins ). I asked because i read a post at some time that said like "... no, from now on will use this indicator.." and i wasn't sure if rules were affected too or if anything else was changed over time.

Thanks again.


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