Favorite Futures: Index,Currency and Energy futures
Posts: 1,701 since Jan 2010
Thanks: 501 given,
Perrys Trading Platform
After putting the ForceIndex onto the forum, it has developed into so many variations and questions, with the introduction of the boomerang, all of which is very similar to the way I trade, I though it best to put a full scale model up for discussion.
I trade very simply. WhatI have done is put together a platform that KEEPS me out of trouble, as I will explain fully what this means. I prefer to miss out on a trade even though in hind sight it turned out to be good. I would like to have more probabilities on my side.
PERRYs TRADING PLATFORM:
1. MASlopeBoxMuti (SMA 40) - Purple dashed line
2. SMA (3) - Black line (price type = median)
3. SMA_colours (14) - Red,Blue,Grey
4. ForceIndex_v02 (EMA 13) - First row of coloured bars at bottom of chart
5. JeffADX (5,15) - Second row of coloured bars at bottom of chart
6. DM(5) - Last indicator at bottom of chart
7. jtRAngeMarker - Show me the exact begining and end of the current trading bar
10. TheAboxForRange(5,25) - This shows me a little box with the actual ADX number above or below my threshold of 25
1. ONLY TRADE IN THE DIRECTION OF THE SMA(40). Never try anything else. This will keep you in the money and sane, with no stress.
1. The SMA(40) must be going UP or FLAT. Look at the SLOPE - either 0 or +plus (Blue) . Most of the time you can see the direction by just looking at the line.
2. SMA(3) must be ABOVE the SMA(14)=BLUE, and ABOVE the SMA (40).
3. ForceIndex = BLUE
4. ADX = GREEN
1. The SMA(40) must be going DOWN or FLAT. Look at the SLOPE - either 0 or minus(red) . Most of the time you can see the direction by just looking at the line.
2. SMA(3) must be BELOW the SMA(14)=RED, and BELOW the SMA (40).
3. ForceIndex = RED
4. ADX = GREEN
The above is a very VISUAL way to read a chart. Very simple and very very effective. Always look at the SMA (40) and its direction. Many instances we get a full setup that looks perfect, but the SMA(40) is going in the other direction. DO NOT TAKE THIS TRADE. In most cases you will get stung. Even if the odd trade works out, do not take these trades.
As we proceed I will show you 2 methods of entering the trades even more safely, but for the moment I would like all to just understand the simple visual setup and look at charts. You will suddenly see how simple it is to SEE a good trade. This method will also keep you out of CHOP which so many get caught up in. You will see that in a choppy situation, one or more of the above will not fall into place. Again watch you SMA(40).
BEST OF TRADING 2010 AWARD
This thread was nominated for the Best System Of The Year for 2010, and won 3rd place (Bronze).
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This is the first example of how we like to use the Quick Summary (the second post in every thread) in the future!
all attachements are collected here as "permalinks" to the post they are putted in.
so if a new indicator or template is added in the thread - please try to ad also a link in the Quick Summary-section.
this way everyone should be able to find the needed / related indicators + files superfast.
this should be a big help for all users. Thanks for help - max
Templates: NOTE: All templates uses JeffsUniversalMovingAverage for the 20 EMA. This is an Elite indicator and only for Elite members for download. All other members can use a simple 20EMA indicator from NT.