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Holy Grail
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Created: by TheWizard Attachments:119

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Holy Grail

  #31 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
Hartford, CT. USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
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RJay's Avatar
 
Posts: 677 since Jun 2009
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Are my eye's playing tricks on me or is panel 2 leading the market.

Not on every reversal. But its there.

RJay

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Holy Grail-es-09-09-7_28_2009-renkomedianbars-4-ticks-.jpg  
 
  #32 (permalink)
Elite Member
Seattle
 
Futures Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Favorite Futures: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 266 received

Hi Wizard,

Interested in your strategy. Was curious, do you wait for the white dots to enter trades or do you just constantly close and reverse your position? For example if you were in a long trade and your 4 indicators reversed would you simply close the position and then wait for the next set of white dots to look for a trigger or would you immediately close your long and flip it short.

Thanks for the follow up.

Blz

 
  #33 (permalink)
Market Wizard
Houston, TX
 
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RJay View Post
Are my eye's playing tricks on me or is panel 2 leading the market.

Not on every reversal. But its there.

RJay

Rjay,

That's why I liked the addition of that particular indicator/setting. Yes - it does seem to give 'advance' warning of a potential change in direction. I tend to wait for at least 3 of the 4 indicator confirmation, however, since I'm a bit of a pussy when it comes to making a decision - especially one involving $$.

After all, it's what you learn AFTER you know it all, that counts!
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  #34 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
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RJay View Post
Are my eye's playing tricks on me or is panel 2 leading the market.

Not on every reversal. But its there.

RJay

BTW - what time frame did you use in your chart example (just curious)

After all, it's what you learn AFTER you know it all, that counts!
 
  #35 (permalink)
Elite Member
Los Angeles
 
Futures Experience: Beginner
Platform: SC, MT,
Broker/Data: Forex
Favorite Futures: Forex
 
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Posts: 303 since Jun 2009
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Hey Mr. Wiz thanks for the template and set up.
This is very generous!

 
  #36 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Futures
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Posts: 1,711 since Jun 2009
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Poocher View Post
Hey Mr. Wiz thanks for the template and set up.
This is very generous!

Thank you!

I'm very grateful to be a part of BigMike's community. Now we have to get the word out & see if we can get more people to join (& donate!). I'm sure Mike would appreciate it. I sure am glad I found you guys !

After all, it's what you learn AFTER you know it all, that counts!
 
  #37 (permalink)
Elite Member
Seattle
 
Futures Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Favorite Futures: 6B
 
Posts: 225 since Jun 2009
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Blz17 View Post
Hi Wizard,

Interested in your strategy. Was curious, do you wait for the white dots to enter trades or do you just constantly close and reverse your position? For example if you were in a long trade and your 4 indicators reversed would you simply close the position and then wait for the next set of white dots to look for a trigger or would you immediately close your long and flip it short.

Thanks for the follow up.

Blz

Hey Mr. Wiz. Was curious if you saw my question up above. Saw you had a few responses since then so figured it may have been lost in all the replies. More I look at your style the more I'm liking it. Keep up the good work.

Blz

 
  #38 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Futures
Favorite Futures: 6E
 
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Posts: 1,711 since Jun 2009
Thanks: 509 given, 4,072 received


Blz17 View Post
Hey Mr. Wiz. Was curious if you saw my question up above. Saw you had a few responses since then so figured it may have been lost in all the replies. More I look at your style the more I'm liking it. Keep up the good work.

Blz

Blz17,

The theory behind all this was to stay in a position until the direction changed & simply "reverse position" (kind of like using the Parabolic SAR, but without the lag the SAR seems to have) & continue riding the wave. The white dots (Sharky's consolidation dots) just indicate a period of congestion / market indecision. Not necessarily an entry point, but sometimes a good point at which to place a stop (just above / below). I usually put the stop at the bottom of the lowest recent swing low bar - for longs and gradually move it up as price moves up & at the top of the highest recent swing high bar for shorts, then gradually move it down as price moves down. I usually wait for all 4 indicators to confirm (panel 2, 3, 4, 5) before entering a position, although Rjay noticed that the indicator in panel 2 often, but not always, gives a little 'advance warning' of a change in direction & you can (if you're brave) use that as a point at which to enter a long / short, but I'd confirm it with price bar action and the LBR310 indicator. Generally I follow the direction of the SMI2 indicator & try not to reverse position until it looks as though it's about to and the indicators in panel 2 & 3 agree.

After all, it's what you learn AFTER you know it all, that counts!
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  #39 (permalink)
Elite Member
Arcata, CA
 
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nice work, Wizard!

you wrote: "simply "reverse position" -> are you saying this is an "always in the market" method? What are your exit criteria, please?

Saroj

 
  #40 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Futures
Favorite Futures: 6E
 
TheWizard's Avatar
 
Posts: 1,711 since Jun 2009
Thanks: 509 given, 4,072 received


Well, that's my intention to stay in a position until the direction changes, then simply reverse position. Sometimes when it looks a bit scary, and the indicators aren't clear, I would exit, taking whatever profit I can & then wait for another opportunity to re-enter, but yes - my original intention was to develop something that would enable you to always be in a position throughout the trading day.

After all, it's what you learn AFTER you know it all, that counts!

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