IMHO.........30 range bar is too big for 6e. 15 range bar seems to hit the sweet spot for me. If you used a 30 you would probably get 1 trade a day. If I am not mistaken...Sharky has been looking at 6e and he likes the 15 range bar also. Please verify this with Sharky. Perhaps a 22 range bar would serve as a good anchor.
Of course the range bar setting really depends on you (your style) and your objectives. Just remember......I keep a 15 range bar chart of 6e chart up on my workspace but I do not trade it.
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Jeff, i am not sure i seen any post about stop exit. I see your PT is 10 ticks, but what about SL? What is your stop loss (if any)? On a 30 range bars you can theoretically have 29 ticks drawdown. If the bar develop against your entry, do you exit at some ticks stop loss? Wait for bar to close against you?
As far as stops are concerned......I wouldn't use the swing of a 30 range bar myself but I suppose you could..... maybe the swing of a 20 range bar. Right now I'm looking at a 15 tick stop.....I give myself the option of adjusting it to an amount determined BEFORE the trade is entered. (This could be as much as the swing of the 20 range bar +1) But......since I am just scalping +10 right now....a 15 tick stop out is pretty easy to recover from. But stop placement needs to consider % of account risked per trade and needs to take into account market volatility. So......your stop today might be different next month depending on the nature of the market. Remember during the crash???? If you didn't widen yours stops you couldn't trade. So.....always monitor the market and review where your stops should be placed......this is NOT a static pursuit...the market is dynamic and you have to be also.
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Congrats on over 200 pages in the thread!
You have keep this very interesting!
Been down south Louisiana on vacation. Had
alot of reading to catch up. By the way, I know
it is a 50 ma but what are the settings to get
the red/blue/white dots in post 2006,second chart?
I can't seem to get it. It seems to call the trend
Actually, I have been using the 34 EMA. I had been struggling trying to decide if I liked the 50 or the 20 better so..........a compromise seemed in order. Exactly half way between the 20 and the 50 is 35 and that reminded me of the old Woodies CCI days which utilizes a 34 EMA. So.....I tried it and I liked it. It has been working great !!
I just have the EMA colors indicator on angle 1-30, angle 2- 60 and the period on 34. That's it.