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All you need
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Created: by Jeff Castille Attachments:534

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All you need

  #181 (permalink)
Trade with the flow
Paris, France
 
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Jeff Castille View Post
For those that read the Linda Raschke article..... a quote. "........oscillators are a crutch for just showing you what's there in the bar chart anyway......You can train yourself to see everything in a bar chart that an oscillator will tell you." Omeaga Reasearch Spring 1998

It's funny that she says that yet she uses LBR, stochastics, keltner channels, ADX, etc. I've been wondering about that.

So are you going to get rid of the EMA & HMA?

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  #182 (permalink)
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jdella View Post
Mahlon, how were you able to adjust the bands from the +/-10 to +/-5, I couldn't see how to do that. I noticed the same thing you did, that by the time you waited for it to go above or below the +/-10, much of the move would have been missed or it would pop above or below and probably get you in only to fail.

Thanks Jeff ( I'm also Jeff )


I don't see an input in the indicator to change those levels. We need a word from Sharky to let us know if that is a user changeable variable. I just went in with the line draw tool and put a line at +/- 5. That works great for me.

Mahlon

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  #183 (permalink)
Trade with the flow
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mahlonhersh View Post
Jeff and Cory,
Thanks for sharing the videos. I have never figured out how to use volume in a way to give me a consistent edge.

It look me a long time before I started understanding volume and how to use it.
I'm currently working on a swing trading system for ES. I'm attaching the equity curve. The test period is from 2000-2009. And the system uses volume only.

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All you need-equity-curve-optimizing-500-trades.jpg  
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  #184 (permalink)
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Jeff Castille View Post
Hey Mahlon,

Have you seem this link? Sling Shot Indicator

It's Michael Sullivan with "Trade the System" ( a sister site to "Trade the Markets") talking about the Slingshot indicator and how to use it. I had seen some discussion previously talking about the shaded area being a "no trade zone"..... I do not believe that this is the intended use for this indicator..... the shaded area is supposed to be an area to initiate positions (pullbacks) this is suppose to keep traders on the right side of the trend and prevent over trading.

When I looked at the Slingshot indicator and saw that it was just two moving averages I applied a moving average cross methodology. One particuliar methodology that I like calls for trend identification as a cross of the 20 and 50 moving averages, so.....these are the moving averages I chose. You can do a Goggle search on "trading with moving averages" and find some very good basic info on moving average trading. This may have some influence on the moving averages that you choose for the slingshot.

So..... ultimately my current methodology was developed in part by playing with the slingshot indicator. After a while I just decided I didn't actually need the indicator as it was just two moving averages. But it's a nice visual and..... what ever works is good !!

I'll post a chart showing how I would use the slingshot. Jeff


Jeff,

I will try again! Thanks for sharing this video on the sling shot indicator. I had never seen how you are "supposed" to use this indicator. I just knew that Roonius had made it available and I just played around with it to see what it would do.

A few thoughts -

They showed how to initiate trades from within the shaded areas. In the recent past I have heard a lot of discussion about initiating a trade when price shows enough momentum and exits some sort of channel. Mike talked about this with the VMA Zones and Channel This indicators. Damon from LBR talked about this with his 30 MA Hi/Lo channel.

There is something to be said for getting into a position at the peaks and troughs of the price cycle. Barry Burns - referenced in a previous post - has this as one of his basic elements to a high probability trade setup.

My problem was - how do you know which of these peaks is going to follow through to become a successful trade? If you noticed on that video, their first entry point probably got stopped out. So I was looking for price to move above/below both a ~50MA and a 3-5 X 50MA (representing higher time frames). As I shared earlier - this came alive to me when I applied my averages to the sling shot with the shaded region.

I have looked a bit at the 20/50 EMA. If it works for you great. I will probably stick with the 60/180 HMA for now.

As I shared earlier about ECO, I do not necesarily use sling shot to enter a trade. It just gives me a clear visualization and perspective of what price is doing. I actually enter based on the ECO histogram position.

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  #185 (permalink)
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cunparis View Post
It look me a long time before I started understanding volume and how to use it.
I'm currently working on a swing trading system for ES. I'm attaching the equity curve. The test period is from 2000-2009. And the system uses volume only.

I am anxious to learn from you about volume. Does any of this apply to intraday, or only longer times?

Mahlon

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  #186 (permalink)
Trade with the flow
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mahlonhersh View Post
My problem was - how do you know which of these peaks is going to follow through to become a successful trade?

My main ES trading is about getting in on the turning points. I think this is the lowest risk trade setup. if you wait until you think the market has turned, then you can put your stop a few ticks above the swing high/low. If you're stopped out it's usually for a small loss.

Another way to increase your likelyhood of catching a turning point is to use volume (see my previous posts).

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  #187 (permalink)
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mahlonhersh View Post
I am anxious to learn from you about volume. Does any of this apply to intraday, or only longer times?

Mahlon

I started a big reply but I though it'd be best in its own thread:

https://futures.io/general-discussion/634-how-use-volume-your-trading.html#post5047

I use volume on daytrading on tick charts, and also swing trading with daily charts. So it works on any timeframe. However, I've never used range charts before a few weeks ago.. so I have no idea how volume works with range charts. I plan to find out.

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  #188 (permalink)
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mahlonhersh View Post
I don't see an input in the indicator to change those levels. We need a word from Sharky to let us know if that is a user changeable variable. I just went in with the line draw tool and put a line at +/- 5. That works great for me.

Mahlon

Can you post your template

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  #189 (permalink)
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i told you guys this is my scalping eco version just go into the script and change it in 3 different places i think,im not going to keep changing it for every seperate person just go into the script yourselves and change it to your own needs...sharky

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  #190 (permalink)
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CL chart


Hey jdella,

Interesting chart on CL. I looks like you put a slingshot over the 50 EMA. Can you confirm exactly what we're looking at.

Thanks, Jeff

Hey Cunparis.... no... I don't think I'm ready to take everything off my chart just yet. Just want to stay focused on price. Just like the admonition they give to baseball players..."keep your eye on the ball." Of course for traders that would be the price. Anything that distracts me from that has to go!

I put the volume graph on a chart yesterday..... also watched the "skyscrapers" video. I think it has some merit. I'm looking forward to your volume thread !

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