What a thread!
It's taken weeks, but I've finally gotten through the entire thread. Thanks to all. Especially Jeff.
I had come to a point that I had convinced myself that trading could not be simple in spite of what I was constantly seeing. For example, I could look at a chart with Woodies CCI or an ergodic or a TRIX indicator or just a moving avg. and tell myself that if all I did was enter when price crossed the ma or the indicator crossed the zero line and stayed in the trade until it crossed the line in the opposite direction. And if I did nothing else most of the trades would be winners. Of course I have been taking other things into consideration. I kept telling myself that there had to be a lot more to finding trade than that.
Well thanks to this thread I am now convinced that one can trade successfully with a very simple chart.
All of you have my gratitude.
Maestro.....you deserve a medal for making it all the way through the thread. There is no doubt in my mind that with that kind of perseverance that you will be a tremendous trader if you are not already.
Here's the latest template.......you'll see that it is redundant in that panel 1 contains all the information that panel 2,3 and 4 contains. (If you find panels 2,3 and 4 distracting just eliminate them...they are not necessary)
Just remember the most conservative trend following trades will have the 34 ema, the 14 hma and the sharkfin all telling you the same thing.
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Keep your losses small and let your winners run.
The following 2 users say Thank You to Jeff Castille for this post:
Hi Jeff, struggling with this one as well. I don't think you are using the NT standard because as far as I can see the NT standard does not put labels on the chart eg 'PD Low'.
I read back through some of your other posts on this subject and downloaded the 'Session Pivots' file you posted and also grabbed the CMI indicator you said Big Mike had updated - in fact they all appear to be the same.
So what that has produced is the CURRENT day OHLC etc, but for the life of me I cannot see where CMI/Session Pivots gives the option to show PRIOR day OHLC like you have on your chart. Certainly it has options to show MONTHLY and WEEKLY OHLC, but not PRIOR day - as far as I can see.
The CMI Pivots Daily Dash is the support/resistance and the CMI Current Day OHL. Here's the template. I call it 5 minute anchor. I have the 30 inute virtual bars on it also. I've got everything here for you. Hopefully it works.
Last edited by ZTR; March 5th, 2010 at 06:55 PM.
Reason: removed .cs files
The following 4 users say Thank You to Jeff Castille for this post: