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I want to thank you for all the work you've done one these and another threads to improve the level of trading.
Please, Could it be possible due to your experience, off all these trading years, explain to us what conclusion you've got from different timeframes charts that you use? I saw that you were changing from smaller charts and now you've being using the 12 tick for the smallers and 48 for the biggers.
I've notice that on bigger timeframes is difficult to have small stops, now a days, for me, have a 5/7 point stop, that would be the good one, is difficult to work with.
How do you work with your stops on these big timeframes due to your profit targets?
I particularly work with the ES, but I think it aplplys to the 6E, CL, TF, just smallers ranges cause of the smaller volatility.
Thank you by now for wathever you could help me on.
Thanks,
Felix.
Can you help answer these questions from other members on NexusFi?
I was using 12 tick and 48 tick CHANNELTREND. This combo seemed to work best for the ChannelTrend bar type, since it's hard to see changes coming - better to stay in a larger time frame & just trade the general overall trend.
I have been trying the Perry Method with mixed results on a 4 tick RenkoHybrid as of late. The 6E has been very erratic this past week, and that may be part of the reason for my losses, coupled with the fact that I just don't react as quickly as when I was younger. Just a part of the aging process, I guess. Better to go back to a larger time frame chart & avoid the jackrabbit-like market moves of the smaller time frame chart.
If I had to pick a favorite, it would probably be 8 tick RenkoHybrid. That's kinda middle-of-the-road and the RenkoHybrid smoothes out the indicators much more than Tick, Minute, Renko, Range or even RangeNoGap. I prefer it of all the other Renko's out there, too.
Primarily using MACDBBLinesV4 with anaMomentum overlaid in the same panel & watching for ana to cross the BBlines for trades and then watching the MACDBBlines average line / dots to stay in the trade. I've got several other indicators on the chart, too, but not sure they are really necessary.
Still keeping the Perry MA combination on the price panel, which helps.
Hope that answers the questions.
Did you mean 5 - 7 'tick' stop, because 5 - 7 POINTS is a really, really large stop!
After all, it's what you learn AFTER you know it all, that counts!
The .xml files are Chart Templates. Someone had asked that I post the template for this setup. This was OLD stuff from NinjaTrader 6.5 if I'm not mistaken. I don't think I have that stuff anymore. Once I switched to NT7, some indicators from NT 6.5 would not compile, so I started out fresh with a new setup. The HolyGrail thread applied to NT 6.5.
If you're looking for some of my stuff for NT7, try the WizardsDen thread. Lots of different setups in there.
This thread has a number of setups dating all the way back to 2010 (NinjaTrader 6.5). I was in my experimental / learning phase (and in some respects, still am!)
Many things have changed since then. Best to scroll down to the last page in the thread …
After all, it's what you learn AFTER you know it all, that counts!
I am a newbie to Mike’s: that is why I am probably asking you a question that you’ve already been asked 1000 times before. I downloaded “The Wizard” zip file but it does not show me any indicators on my Ninja charts. How do I download your indicators?
I also wanted to get your take on Renko Bars. Do you use them? Do you like them?
I attached an indicator I made, my first contribution to the forum. It does help me trade. It’s an on-balance-volume (OBV) indicator that is color coded and plots OBV divergence on the indicator itself and on price bars. I rarely take a trade, unless OBV is moving in my direction on my trading chart and on my higher time frame.
From what POST # did you download the .zip file. I'll take a look & see. Could be because the HolyGrail setup & related updates was done in NinjaTrader 6.5. I have found few indicators for 6.5 that would successfully import into 7.0
That may be the problem.
After all, it's what you learn AFTER you know it all, that counts!
What you are referring to is, I believe, an automated trading strategy, created & posted by Beth (wgreenie).
At that point in time, I was helping her with various approaches to trading and she created a strategy and called it the WizardMethod, but I actually had nothing to do with it.
You might PM wgreenie and ask her.
I think it's a "strategy" - not an "indicator".
If you want to check out some of my stuff for NinjaTrader 7.0, look here:
This thread has a number of setups dating all the way back to 2010 (NinjaTrader 6.5). I was in my experimental / learning phase (and in some respects, still am!)
Many things have changed since then. Best to scroll down to the last page in the thread …
After all, it's what you learn AFTER you know it all, that counts!
