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All you need
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Created: by Jeff Castille Attachments:534

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All you need

  #2221 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
 
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Posts: 2,563 since Jun 2009
Thanks: 1,157 given, 2,030 received


ikew View Post
VERY nice 123 but its after the fact. How many bars do you reay need to see closed BEFORE you see this setup ready to get into the trade? When bar # 3 closed, you still do not know that # 4 will end long. You have a break up, take the trade and its closed down..... So if you wait for # 4 to close, its allready to late.

Exactly. When you see the #2 point form then you can place a buy stop 1-2 ticks above #2 bar's high. As long as the low isn't taken out then you have a 1-2-3. If the low is taken out you can still trade this pattern (I trade it the same whether there is a HL or LL as long as the LL is a reversal bar).

The trick is to have your stop sitting there ahead of time. You're right, you can't wait for a confirmation. Jeff & I are selling our contracts to the late-comers who wanted more confirmation. And the true pro's are selling Jeff & I their contracts when we buy ours! hehe.. but getting in at the bottom is something only a pro can do, IMHO, because they're the ones turning the market.

These are easier to see in hindsight but if you just pull up a historical chart and go bar by bar hiding the future bars off the chart then you can practice seeing these as they form. It takes some practice and confidence to do it real time.

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  #2222 (permalink)
Just starting out...
rome
 
Futures Experience: Beginner
Platform: ninjatrader
 
Posts: 4 since Jun 2009
Thanks: 2 given, 0 received

hi jeff. first of all, thank you. i followed your advice, stripped my chart, and was finally profitable after a long losing streak.
one question: what kind of paint bars do you use in post # 2192? i'm experimenting with the different types offered in the download section, but none of them seem to match the ones you're showing.
thanks again

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  #2223 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
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bubola View Post
hi jeff. first of all, thank you. i followed your advice, stripped my chart, and was finally profitable after a long losing streak.
one question: what kind of paint bars do you use in post # 2192? i'm experimenting with the different types offered in the download section, but none of them seem to match the ones you're showing.
thanks again

Hi Bubola,

I am very happy to hear that you have ended your losing streak !! Good work.

The paint bars in that screenshot are the zeller/sharke sharkfin they can be found in the download section on page 7....it's the first one at the top of the page.

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  #2224 (permalink)
Membership Revoked
ny
 
Futures Experience: None
Platform: nt
Broker/Data: mirus
Favorite Futures: eur
 
Posts: 39 since Oct 2009
Thanks: 8 given, 9 received

Jeff,

Can we all new traders here look at your word " presently" as an open door for future hope to get your mentorship? (And since you like to help, I am sure that it will not cost us a fee of more than a few ticks a day so it will be of a great value to us and you still trade your trades)

Future student,

Ike.




Jeff Castille View Post
Hi Ike,

I am not presently in the mentoring business as I am focused on my own trading....but I consider it a compliment that you would want me to be your mentor.


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  #2225 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,215 since Jun 2009
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On other hand, Mike is open to mentoring idea as long as you are willing to do the 'work'.

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  #2226 (permalink)
Membership Revoked
ny
 
Futures Experience: None
Platform: nt
Broker/Data: mirus
Favorite Futures: eur
 
Posts: 39 since Oct 2009
Thanks: 8 given, 9 received

I did not even want to ask Mike with all his crazy work, running the site and producing indicators for clients.

On the other hand, Jeff is here all the time and to have him teaching 1on1 at a cost of a few ticks a day may be of a great value.

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  #2227 (permalink)
Elite Member
CA
 
Futures Experience: Beginner
Platform: MT4, Ninja Trader
Favorite Futures: EUR/USD
 
Posts: 495 since Oct 2009
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Jeff,
I appreciate you continuing to add information to the thread.

Jeff or anyone,
Question: Do the SBSRenko show the full range of price (Post 2192)? Some renko bars I have seen don't mark the full range.

Andrew

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  #2228 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
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sbs


AR01 View Post
Jeff,
I appreciate you continuing to add information to the thread.

Jeff or anyone,
Question: Do the SBSRenko show the full range of price (Post 2192)? Some renko bars I have seen don't mark the full range.

Andrew

Hi Andrew,

I am not an expert on sbs renko bars......I have just been observing them since I cannot seem to find any other way to educate myself. There was a thread on the forum where Roonius, the inventor of sbs, talked about them briefly. Perhaps you could direct any questions his way. I asked on that thread where I could learn more about sbs....but got no answer.

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  #2229 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
 
cunparis's Avatar
 
Posts: 2,563 since Jun 2009
Thanks: 1,157 given, 2,030 received


AR01 View Post
Jeff,
I appreciate you continuing to add information to the thread.

Jeff or anyone,
Question: Do the SBSRenko show the full range of price (Post 2192)? Some renko bars I have seen don't mark the full range.

Andrew

Yes they show the full range.

The thing renko bars do is allow extra ticks before making it a reversal bar. This will have the affect of smoothing out the data and absorbing all the little pullbacks that occur. Those little pullbacks will introduce noise into other bar types, but with renko it removes some of the noise.

There is a cost for this however: if you don't enter mid-bar, then you can have a bar with 3x the bar size. So if you trade a 10 sbs renko, and you enter on a reversal bar you will have a 30 tick stop (assuming you put your beyond a swing pivot). On a range bar you may still have a 30 tick stop but usually you can find a closer place to put a stop.

Sometimes the renko will "absorb" a 1-2-3 pattern or a little pullback.

I keep switching back and forth between renko & range. both have their pros & cons. nothing is perfect. so far for this method I prefer range bars. If you use indicators (i'm not) then they work better with renko.

I hope that helps. Most importantly, take the time to study historical charts and practice. Trial & error. There is no best choice, everything can work..

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  #2230 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
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Posts: 5,215 since Jun 2009
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paint bar study trix_cory

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