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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 [COLOR=#0066cc]Gom[/COLOR] "stuff").
This is how I read price intra bar.
Everything basically stems from the format Perry has outlined."
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.
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.
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.
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.
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.
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.
). 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.