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All you need
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Created: by Jeff Castille Attachments:534

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All you need

  #2101 (permalink)
Trade with the flow
Paris, France
 
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Big Mike View Post
This is not the thread for this really, but yes it is possible to do as you've said with NinjaTrader. I just wrote a strategy a week or two ago for a customer that was a bracket trade and places both buy and sell stops on the DOM, simultaneously. When one gets filled, the other is cancelled.

Maybe we should start a thread for this and share some code. I tried your 1 range bar for my orders but I want to enter the stops at the exchange so in the past what I've done is made a parameter Direction and I put +1 for long and -1 for short and run my strategy twice.

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  #2102 (permalink)
Just a boy
Auckland, New Zealand
 
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Platform: Sierra Chart
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cunparis View Post
Have you found it to keep you out of winning trades? Have you done any studies to see if it's really helping you?

I have found that the faster price moves towards the breakout point, meaning with little or no pullbacks, the more reliable the breakout. I don't have bollinger bands on my chart but I suspect that if price is making a nice run that it could be outside of the band.

Only had the BB's on the chart for a week, so a little early to be conclusive, but so far it has not stopped me getting in a winning trade.

Attached is a chart. Trade #5 was entered in strong/fast downtrend and the entry price was not outside the BB.

Attached Thumbnails
All you need-cl-01-10-10_12_2009-20-range-.jpg  
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  #2103 (permalink)
Just a boy
Auckland, New Zealand
 
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Jeff Castille View Post
Hi Steve,

Sorry to hear about the stop outs. Perhaps you would be willing to post a few charts so we can take a look at the trades that got stopped out and offer some suggestions.

Of course I'm sure everyone would like to see your applied use of the BB also.

Jeff

Hi Jeff, don't worry too much on my behalf as I SIM trade the CL as still learning this one.

See attached chart for 8 December.

I should not have taken Trade #1 or #3 as entry price was outside BB and they were both losers. Trade 1 was actually an ORB trade. So when I enter these now I check the BB first before entering ORB.

Also another example (although not shown as a trade) is the BO to the low at about 72.50 between 14.20 and 16.30 - this would also have been a loser unless you followed the BB.

PS: times are ET.

Attached Thumbnails
All you need-cl-01-10-8_12_2009-20-range-.jpg  
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  #2104 (permalink)
Just a boy
Auckland, New Zealand
 
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Jeff Castille View Post
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A couple of good examples of 1,2,3 reversals. Remember these are counter trend trades.

Hi Jeff,

Isn't the 1-2-3 just Dow's theory of 'if a stock confirms a higher peak after forming a higher trough you buy and if it confirms a lower trough after forming a lower peak you sell'?

Why do you say they are a counter trend trade? In the chart attached I have circled four re-entry points in a strong down trend market that conform to 1-2-3 or the Dow theory. I would have thought they were with the trend - not counter trend.

Or are you saying that the 1-2-3 must be consecutive bars?

Note also on that chart that my BB set up would not have kept me out of any of those trades. But it would have kept me out of the losing one @ 70.18 at 13.44.

Attached Thumbnails
All you need-cl-01-10-9_12_2009-20-range-jeff.jpg  
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  #2105 (permalink)
Elite Member
London
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Zen Fire
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What is that indicator in the sub graph ?


cory View Post
working on the 6R

Hi Cory,

could you please clarify what is the indicator you inserted into the sub-graph you attached to the post ?

Thanks

regards
Alinghy

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  #2106 (permalink)
Elite Member
Northern California
 
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steve2222 View Post
Hi Jeff,

Isn't the 1-2-3 just Dow's theory of 'if a stock confirms a higher peak after forming a higher trough you buy and if it confirms a lower trough after forming a lower peak you sell'?

Why do you say they are a counter trend trade? In the chart attached I have circled four re-entry points in a strong down trend market that conform to 1-2-3 or the Dow theory. I would have thought they were with the trend - not counter trend.

Or are you saying that the 1-2-3 must be consecutive bars?

Note also on that chart that my BB set up would not have kept me out of any of those trades. But it would have kept me out of the losing one @ 70.18 at 13.44.

Hi Steve,

A good place to learn about the 1,2,3 set up is the "Trading Naked" website. Click on setups and you'll see the Trader Vics 1,2,3. I think that should answer your questions.


Trader Vic 123 Reversal Pattern Setup
more examples 2/6/03
(as described by Vic Sperandeo in "Trader Vic: Methods of a Wall Street Master")
1. trend line broken
2. lower high in an uptrend, or a higher low in a downtrend.
3. break below the previous low in an uptrend, or above the previous high in a downtrend

At point 3 the reversal is confirmed and everybody's brother is getting short.
A stop run often follows to re-test the penetration at point 3.
Quicker traders may get short at the X, or even closer to the 2 based on other indicators (divergence, Fibonacci retracement, Bollinger band touch, etc.)
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The following 4 users say Thank You to Jeff Castille for this post:
 
  #2107 (permalink)
Elite Member
Northern California
 
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steve2222 View Post
Hi Jeff, don't worry too much on my behalf as I SIM trade the CL as still learning this one.

See attached chart for 8 December.

I should not have taken Trade #1 or #3 as entry price was outside BB and they were both losers. Trade 1 was actually an ORB trade. So when I enter these now I check the BB first before entering ORB.

Also another example (although not shown as a trade) is the BO to the low at about 72.50 between 14.20 and 16.30 - this would also have been a loser unless you followed the BB.

PS: times are ET.

Hi Steve,

I think that looking at a 30 range bar on CL is very useful. I believe that several of the swing high/low trades that you took on the 20 range bar probably would not have been taken if the 30 range bar chart had been consulted.

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  #2108 (permalink)
Market Wizard
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Zeller_Sharkfin_paintbars
ColorSampleUniversalMovingAverage2

both on region 2.


Alinghy View Post
Hi Cory,

could you please clarify what is the indicator you inserted into the sub-graph you attached to the post ?

Thanks

regards
Alinghy


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  #2109 (permalink)
Trade with the flow
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steve2222 View Post
Only had the BB's on the chart for a week, so a little early to be conclusive, but so far it has not stopped me getting in a winning trade.

Attached is a chart. Trade #5 was entered in strong/fast downtrend and the entry price was not outside the BB.

I have learned not to take breakouts once price is "extended". What's extended? Well after the 2nd pullback the market is more prone to reverse. So I don't take any trade past the 2nd pullback.

I put a bb on my chart and I believe my rule will accomplish the same thing, without an indicator. Give it a try.

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  #2110 (permalink)
Trade with the flow
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AR01 View Post
I don't use the DOM but try 3a before you select the second order on the DOM and see if this works. I trade directly on the chart and use the chart trader in NT:

Thanks for this, I do believe this will allow me to bracket an entry. I have one more for you, if I can figure this out then I won't need 2 DOMs:

if I'm in a trade I often reverse on my stop point. Is it possible to do this with one DOM? I've been using my second dom for the entry in the opposite direction.

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