Perrys Trading Platform

January 16th, 2011, 05:14 PM

perryg

The first trade you are correct in your analysis. On the third trade, notice I said "this is a better setup bar", that is, where the green arrow is also a setup bar, but I would prefer the EMA(5) to cross up and over the EMA(20) giving me a higher probability. This was just my preference. Sometimes experience is also part of trading and not only dry indicators.

Good to know. It's great that experience can be transfered in this type of forum. This EMA tidbit can definitely make a difference. Maybe you could add an addendum to your rules, something like, additional considerations, and do a brain dump of the common things you look for, or watch out for, like EMA5/EMA20, Murray lines, major pivot resistance, etc. That would be cool.

January 16th, 2011, 05:26 PM

Perry, on the chart attached, I seem to be taking trades like the first one instead of the second.
Is there something I'm missing that should prevent me from taking the first trade?
Would you have taken the first trade and if not, why?
Many thanks.

January 16th, 2011, 05:34 PM

monpere

Maybe you could add an addendum to your rules, something like, additional considerations, and do a brain dump of the common things you look for, or watch out for, like EMA5/EMA20, Murray lines, major pivot resistance, etc. That would be cool.

Toast.

January 16th, 2011, 05:53 PM

perryg

Yes. I actually have the SMA(50) on my charts just as an indication as to the major trend of the market. Some people like to go only LONG when above this MA and only SHORT when below. It is a personal preference.

Thanks. Great to know you are now using the 50. I'll do the same.

January 16th, 2011, 06:00 PM

Perry, I'm looking at the 3rd setup again in Post #110 to understand the reason you did not identify the setup bar as the candle immediately before or even after the one you selected. The 5 had already crossed the 20 in the preceding candle or you could have wait another couple of candles for a confirmed setup. I'm trying to understand the nuance of your experience I don't have. Is the reason also possibly because your setup bar touched the SMA20?

January 16th, 2011, 06:29 PM

....duplicate

January 16th, 2011, 06:31 PM

Yikes, I think I missed something big and have now confused myself.
In all of my prior questions, I have been using the setup bar and entry bar interchangeably.
In that third example from Post #110, is that setup bar also the entry bar or not?
Same with the first example on that chart?

I've always used the two interchangeably.

January 16th, 2011, 06:35 PM

Perry, do you use any volume indicator on your charts?

January 16th, 2011, 07:12 PM

perryg

No, I always wait for the bar to close to CONFIRM the setup bar, but the technique is very simple.

1. I use a little indicator called jtRAngeMarker that shows me where the bar will close.

I don't have the jtRAngeMarker. Could anyone tell me where to get it.
Thank you.

January 16th, 2011, 07:30 PM

plethora

I don't have the jtRAngeMarker. Could anyone tell me where to get it.
Thank you.

Economic News Addin Approach for NT

Here is a version of the jtRangeMarker that works on NT7. I compiled it and tested it on NT7 B9.

Found using search attachments:
1. Click in the search bar top right.
2. Click search attachments.
3. Type in jtRangeMarker.

Please read how-to search:

How-to Search

This is a quick tutorial covering some of the basics of the search features on nexusfi.com.

Video examples

Keyword searching across entire forum
Find attachments (indicators) from any post in any thread
Find files within the Download section
…

Mike

Perrys Trading Platform

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Perrys Trading Platform