My heartfelt thanks to Jeff for starting it + his on-going sharing
My admiration to the inidcator coding heroes/heroines Sharky, Zeller, Dragon, Cunparis, Big Mike and .. .. .. (It's a big challenge to state all names here and please forgive me.)
My appreciation to the contributors who share their trading experiences and knowledge
I'm overwhelmed and will explore the possibility of using AYN for trading YM/ES (will use the KP system for the interim). I really love the clean charts with a few effective indicators for trending/entry! Thank you All!
The following 5 users say Thank You to wgreenie for this post:
I like to use the 34 EMA to keep me on the "right side" of the market. Obviously trades on one side of the 34 EMA or the other will be trend trades. This is not to say that you will never use counter trend trades but that is another subject. (I love 1-2-3 reversals)
For your trend trades you don't need to be so worried about a moving average color repainting as good trend trading waits for the market to "declare" itself first then waits for pullbacks for entries.
In an effort to simplify my chart I have recently been working on having the Zeller/Sharkfin paint dots one color for with the trend and another color (or transparent) for counter trend signals. In this way I don't even need the moving average itself on the chart. Although this is a personal project that I am not giving away at this time I share the concept here in the hope that it will inspire you and others to create systems and indicators for themselves.
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Here are a few trades from this afternoon.
The following 7 users say Thank You to Jeff Castille for this post:
I agree. Jeff makes it look so simple but when I try it real time I find it's not so simple. And I don't understand why. I've been trading CL with range charts almost exclusively for 3 weeks now and I've made progress. I hope to start posting some charts soon, now that I start to have a track record of profitability (barely).
GREAT style ! GREAT setup. With this approach and idea, we'll eventually have a "nakedly" chart. I wait with great expectation when you'll publicly share this project with us. Meanwhile, I'll start some tweaking exercise based on this concept.
The following user says Thank You to lolu for this post:
I didn't mean it like that and I disagree with what you wrote. Often I notice that I took the same trade as Jeff, so that means it can be done (and I'm not using any indicators). This is encouraging.
But where my trades usually differ is that I miss a trade that was a winner for Jeff and/or I take a trade that he didn't and it ends up being that it was a loser. So I'm working on this: avoid losers and don't miss winners. And that's what I meant when I said it's not easy. Taking breakouts is easy. Knowing when to take them and when to sit out is not.