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All you need

  #1711 (permalink)
sillykiddo
Melbourne
 
Posts: 16 since Jun 2009
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Jo Jo what is your Stop Loss...
below the step MA for the long?
so basically u look for a pullback to yellow line and go for long.. ( for long setup )

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  #1712 (permalink)
 
jdella's Avatar
 jdella 
Concord, NH USA
 
Experience: Intermediate
Platform: Ninja trader
Broker: AMP/CQG
Trading: ES
Posts: 182 since Jun 2009
Thanks Given: 140
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Jojotrader View Post
Hi Silly,

Like I said, bars are painting with the help of tha ADXVMA, so red bars don't mean anything, only showing some pullback. (scalp template 2T)
The StepMA is the one to follow, if you follow StepMA, you will be ahead, I took 36 ticks on YM, and that's fine by me, could be more if was not that greedy....

Also, don't forget to look at your bigger chartframe, SbRE 4 ticks for YM, that's the one I use.

Jojo.

Jojo any comments on this mess, how would you handled it based on what i have written in the chart? thanks.

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  #1713 (permalink)
sillykiddo
Melbourne
 
Posts: 16 since Jun 2009
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Hi jojo
will this entry is a valid entry for TF?



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  #1714 (permalink)
 Jojotrader 
Belgium
 
Experience: Intermediate
Platform: ninja
Broker: Zen
Trading: YM
Posts: 43 since Sep 2009
Thanks Given: 26
Thanks Received: 40

jDella,

Charts is indeed looking messy, but I'm only using YM and TF, but I took a look at your 6E chart, and that period was without a doubt chop as hell for at least 4 hours.

Only thing here you could do is reduced your trades, stay with the StepMA, (means only blue trades) but again, 10 -15 pip range is very small o take a profit out of it.
I saw after the open there was no movement or momentum, see all those yellow lines?
Do you also have your 2X chart setup properly?
And again, look for trades in the direction of the StepMA, stricktly first BAR after yellow ADXVMA line, you also need to set the yellow line thicker, for better visual.
Scalp Template is set at 13 for ADXVMA, this one is not correct, your setting is shorter.
Did you saw my trades close to the StepMA? these are also entry places....
Never scalping without direction.

Jojo

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  #1715 (permalink)
 Jojotrader 
Belgium
 
Experience: Intermediate
Platform: ninja
Broker: Zen
Trading: YM
Posts: 43 since Sep 2009
Thanks Given: 26
Thanks Received: 40

Silly,

Strickly spoken NO, need to have at least your PRICE BARS above StepMA.
Two big ways to enter trades: Close Pullback to STM, or first BAR in the direction of the STM, after yellow line, (set yellow line to 3 - 4 tickness is great visual add).
2 Bars later you had an entry.
Are you using my settings for ADXVMA?

Jojo

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  #1716 (permalink)
 
Jeff Castille's Avatar
 Jeff Castille 
Northern California
 
Experience: Intermediate
Platform: Ninja Trader
Broker: Amp Futures/ Zen-Fire
Trading: YM and CL
Posts: 2,109 since Jun 2009
Thanks Given: 1,783
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I guess the Crabel NR 4,5,7 came true !!

I did not trade the YM today as I have been focused on learning to trade CL.

There are two indicators on this chart YM 15 range bar.....Triple EMA (3) and the Sharkfin (2) that's all.

If the Triple EMA is blue and you get a blue bar....go long. That is all you had to know today.....and maybe when to take profits.

Jeff

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  #1717 (permalink)
 
kronie's Avatar
 kronie 
NYC + NY / USA
 
Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
Posts: 796 since Oct 2009


yroyal View Post
My Rules In Finer Detail :

1. I am a day trader. Dont carry positions overnight.

2. By Slower charts I mean those settings which capture the dominant trend or swings of the day.

3. Enter Long when a Blue bar appears after a down move. Entry ABOVE the high of the first blue bar.

4. Exit Long when a Red bar appears.

5. Enter Short when a Red bar appears after an up move. Entry BELOW the low of the first red bar.

6. Exit Short when a Blue bar appears.

7. Dont enter any new position in the last 30 minutes of the day, but continue open positions.


I have shown past six days action. 15 trades / 354 points profit

I understand this method, however, please clarify what kind of stoploss you run with, because these can be huge.

I have watched TF, EMD, YM, NQ and noticed that pattern. ES does so, but to a different extent. Usually one can hold long like that on 1 car using 2.5x loss/win stop/target. Under those conditions, one would have to have almost $150 loss against a $100 target, and if one allows the trailing stop to go without target, then then follow on would have to move convincingly higher just to secure break even.

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  #1718 (permalink)
 
TheWizard's Avatar
 TheWizard 
Houston, TX
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Optimus Futures, AMP, CQG
Trading: 6E
Posts: 1,731 since Jun 2009
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Jeff Castille View Post


I guess the Crabel NR 4,5,7 came true !!

I did not trade the YM today as I have been focused on learning to trade CL.

There are two indicators on this chart YM 15 range bar.....Triple EMA (3) and the Sharkfin (2) that's all.

If the Triple EMA is blue and you get a blue bar....go long. That is all you had to know today.....and maybe when to take profits.

Jeff

Jeff, Here's a shot of the TF for the last few days. I incorporated your setup & left my d9ParticleOscillator & SMI2_MultiColorWizMod (what can I say? I like my oscillators), BUT - with your setup, I'm not sure I even need my oscillators anymore! You have a beautifully simple & perfectly tradeable chart! GOOD WORK! Thank you!

After all, it's what you learn AFTER you know it all, that counts!
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  #1719 (permalink)
 
Jeff Castille's Avatar
 Jeff Castille 
Northern California
 
Experience: Intermediate
Platform: Ninja Trader
Broker: Amp Futures/ Zen-Fire
Trading: YM and CL
Posts: 2,109 since Jun 2009
Thanks Given: 1,783
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Interesting chart Wiz.......I'm guessing that the TEMA is coloring the bars so what are you using for entry triggers and money management strategy?

Jeff

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  #1720 (permalink)
 
Jeff Castille's Avatar
 Jeff Castille 
Northern California
 
Experience: Intermediate
Platform: Ninja Trader
Broker: Amp Futures/ Zen-Fire
Trading: YM and CL
Posts: 2,109 since Jun 2009
Thanks Given: 1,783
Thanks Received: 3,303




Now here is the chart that I wish I was using all day long........I tried a few experiments early on that did not work. However once I switched back the the 30 range bar things got much better.

Jeff

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