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All you need
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Created: by Jeff Castille Attachments:534

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All you need

  #231 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
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Jeff Castille's Avatar
 
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Viper

Hey Skid,

Yea, I saw the Viper and checked it out. It just looked like a 30 HMA to me, although they claim it's a very complex algorhythm. But..... in order to use the Viper you still have to know how to read price action.... so.... I was not too impressed. There is no short cut... you have to learn to read price action... no indicator will do it for you!

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  #232 (permalink)
Market Wizard
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Viper

Hi Jeff,

If you take a Linear Regression, period 21 you have the Viper Trend and Trade Indicator.

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  #233 (permalink)
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Viper


Interesting.... you can A/B the 30 HMA and the @ the 21 period Linear Regression and see that they are very similiar.

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  #234 (permalink)
Trade with the flow
Paris, France
 
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Jeff Castille View Post
Hey Cunparis,
Check out the ES 6 range bar chart I posted. It's on one of my LBR templates. the trade of the morning was an awesome first cross at 7:47 PST. Right now a "holy grail" trade is setting up. Oh...... personally I never trade or am "holding" during a major news announcement. I usually try and wait 10-15 minutes or so after the news to resume trading. Just doing that would have saved you a lot of grief this morning.

Ok, I totally didn't know bout the news. I gotta start keeping track of that.

It's possible the ES 6 range is better. Today was a pretty easy day if you avoided the chop at the top. I will monitor the ES 6 range and see how it does on more choppy days.

I had some good trades on my tick chart-based system.

For the first cross, from what I read here:

http://tv.ino.com/media/INLV95LR/workbook.pdf

you buy when the fast line turns down and not when it crosses the slow line. I've tried that on tick charts but it didn't work so well. In looking at the range charts it looks like it could work better on the range charts. I'm going to keep an eye on this. Maybe when first cross happens at the same time as your breakout setup then it increases the odds.

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  #235 (permalink)
Trade with the flow
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Here's an idea:

Tzachi & Zeller developed this indicator which shows consolidation pretty well. They use it to alert them to new trades as price breaks out of consolidation. They're using it on CL, not sure what else.

So I dropped it on to my chart. Look at the 4 times there are white dots. these mark consolidation. if one took the breakout of the swing pivot after the white dots stopped the first 3 would be winners and the last one isn't closed yet (I just went short to try it out).

3-4 occurences isn't that much but it could help me to avoid chop.

For example when I had two failed longs, it was during teh white dots! Look at the second image which is this morning.

I don't mind indicators to tell me not to trade, I think that's ok. What I don't like is having them tell me when to trade. Like buy when rsi crosses 50, etc. I prefer price & volume for that. But I think indicators can be useful to keep us out of trouble.

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All you need-es-09-09-9_1_2009-4-range-white-dots.jpg   All you need-es-09-09-9_1_2009-4-range-white-dots2.jpg  
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  #236 (permalink)
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consolidation

Cunparis,

Good idea.... I have looked at this indicator for this very purpose. But..... in my study I concluded that by the time the white dots had stopped the trade had already triggered. Perhaps I do not know how the indicator was intended to be used.

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  #237 (permalink)
Trade with the flow
Paris, France
 
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Jeff Castille View Post
Cunparis,

Good idea.... I have looked at this indicator for this very purpose. But..... in my study I concluded that by the time the white dots had stopped the trade had already triggered. Perhaps I do not know how the indicator was intended to be used.

Isn't this the problem of all indicators? It's lagging.

So you're right, we must learn to read the price action to determine if it's in a trading range or not. I'm going to work on that.

It's interesting you were going short this morning just as I was going wrong. You were on the right side and I wasn't. I should have at least caught this enough to reverse when price broke the lower swing low.

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  #238 (permalink)
Trade with the flow
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cunparis View Post
Isn't this the problem of all indicators? It's lagging.

So you're right, we must learn to read the price action to determine if it's in a trading range or not. I'm going to work on that.

It's interesting you were going short this morning just as I was going wrong. You were on the right side and I wasn't. I should have at least caught this enough to reverse when price broke the lower swing low.

Devil: "You don't have to wait until the white dots go away. Listen to me, I'll alert you when a trade is coming and you take the next valid setup even if I'm still printing the white dots".

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  #239 (permalink)
Elite Member
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a closer look at this mirnings trades

Hey Cunparis,

I thought you might like a closer look at this mornings trades.

Note: 7:13 price breaks 7:05 swing low after a double top

Note: 7:47 price breaks 7:32 low (this really wasn't the 7:17 swing low which worked also) but the price had retraced about 50% ...this is what floor traders call "half way back"

Remember, trading during news is "a good way to get your face peeled" ouch!

Don't pay any attention to the faster MA it's just an "experiment"

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All you need-ym-09-09-9_1_2009-10-range-.jpg  
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  #240 (permalink)
Elite Member
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Futures Experience: Intermediate
Platform: Ninja Trader
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Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
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one more thing


I sat through an all day LBR lecture one time... and she covered all of her oscillator trades. When she was finished she said a strange thing..." you can't wait for the oscillator to change before taking the trade or you'll be too late" This is something that turned me against oscillators..... especially divergence. (try that on a trend day LOL)

Anyway, that's when I started to see that LBR was all over the price and price patterns, NOT watching her oscillator! It's like the 3/10 oscillator was confirmation of a decision she had already made.

I recently had the opportunity to hear Frank Lesh do a webinar for FuturePath Trading..... the guy was amazing...... just price.... to watch him analyze a chart was mind blowing. A lifetime of experience. It just flowed out of him. He knew exactly what was happening. When to get in ,when to get out. No greed, no fear.

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