Keep - I totally agree with Jeff that everyone must find their own settings. I don't mind sharing mine and comparing but if one just copies them then that's not good. Everyone's trading style is different. Everyone has different:
- trading style
- risk tolerance
Also add to that the fact that I change my settings all the time. So what I tell you now will not be the same as what I use next week.
I'm using Euro 9 range but it's a bit slow, I'll give it a few more days cause maybe the last two were just unusual.
I use 8 target and 8 profit. for the indicators I use 20 ema 20/50 and I'm using both SMA 4 30/60 and WMA 4 30/60 trying to decide which I like best.
That gives you a starting point but I suggest you manually backtest the past few weeks to see what works for you. And please share what you find!
I'd say the best thing for you to do is to devote some time to read the thread. Every indicator is posted. In reality....we don't use too many indicators.....one moving average to keep us on the right side of the market and one to time entries. (throw in a paintbar study for good measure)
Personally, I'm a scalper, I don't worry about catching a big move...my exit is set. So my entries and exits are simple. I don't know if this is a style that fits your temperment or not. So what I do may not be your cup of tea.( just try and keep a good r/r) As far as ES and 6E these are markets that are new to me as I have focused many years on the YM. At this point in time I have been really zeroing in on the ZN with Sharky.
Probably the most important thing is to understand when to trade and when NOT to trade. This is what is known as "time of day"
Then ....know when to quit. Reach your goal or reach your "tilt"
I marked up a 9 range bar 6E chart for you and attached its template. Have fun!!
But think about this........if all you had was the price could you still trade this chart? You see where the entries are, you see where the stops should be placed....did the indicators tell you that....NO.....the price did....just as the price told the indicators what to do. The indicators are visual aids. Study price action..higher highs, lower lows, pullbacks, reversal patterns, a,b,c complex pullbacks, 1,2,3...... breakouts....... trend days, narrow range days......I hope you get the idea.
Please remember.....I am constantly working on templates....this is just the "latest and greatest."
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I was playing around this morning with your latest template (looks like you pulled an all nighter) and I was thinking it would be nice to be able to monitor multiple instruments at the same time using your "All You Need" method.
Maybe you guys have already talked about this and I just missed it. All I know is that I am limited at my desk to a single monitor so it is difficult for me to quickly switch from one instrument to another.
I took your latest template COLOR SAMPLE WIZARD and changed the price bars to be transparent and then by squishing them up created individual panels of with the remaining indicators (ColorSampleMovingAverage2) all the while keeping the settings the same. These series of thermometers make for a nice "Dashboard".
This way someone could be monitoring say the ES, CL, ZN, YM, and TF at the same time each of which having their own optimized view for that instrument. When colors started to align on one of them they could quickly change their master chart over to the instrument in play.
Anyway, I included a screen shot of what I am trying to say as well as the template if anyone is interested.
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Thanks for all you do,
Last edited by HJay; October 3rd, 2009 at 09:59 AM.
Reason: added link to ColorSampleMovingAverage2..
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