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.
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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?
Last edited by Jojotrader; November 9th, 2009 at 02:24 PM.
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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.
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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