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All you need
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Created: by Jeff Castille Attachments:534

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All you need

  #301 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
 
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Jeff Castille View Post
These dots should taken into consideration with the faster ,14 HMA and the paint bar study along with a trendline break. Put all that together with awareness of swing high/low and support/resistance and confirmation from an anchor chart. That gives you about 8 reasons to take a trade. Remember some times of day are better to trade than others.

Great summary Jeff. I'm not using trendlines as much as I should. I'm curious if you want for a close outside a trendline? Price often seems to pop out a bit on the ES 4 range.

Also you've recommended ES 6 range over 4 range several times now. I'm curious why you feel 6 is better? I haven't tried 6 range but it seemed that 4 is more comparable to YM 10.

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  #302 (permalink)
Elite Member
Seattle
 
Futures Experience: Beginner
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A Bad Trade

Like I've said I'm still very new to this no indicator (well not quite no indicator, I've got OBV) style of trading. This morning I got impatient and tried to force a trade and it was a horrible one. The only thing I did right was kept my stop in place so I at least controlled my loss. I have also had a bad trade on CL today as well where I should have exited at breakeven or a couple tick loss but I was stubborn and lost 10 ticks. Goes to show the importance of reviewing your rules and sticking to them.

I'm a firm believer in reviewing your mistakes to learn from them. I know this helps me I hope this review can help you.

Good trading.

Blz

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All you need-6b.png  
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  #303 (permalink)
Elite Member
Frankfurt
 
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Blz, not a perfect "Strong Trend" here thats right.
do you have a fix definition for that yet ?
i think thats a key-point in this setup.

max-td
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  #304 (permalink)
Elite Member
Northern California
 
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Jeff Castille's Avatar
 
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YM/ES correlation

Hey Cunparis,

I think that the reason I had mentioned the 6 range bar setting on the ES several times was..... an excellent 3/10 oscillator set up that occured one day and the fact that I think it's an appropriate anchor for the 4 range bar chart. (1.5 X trading chart)

But.... the question remains.... why the "All you Need" template moving averages on the ES 4 range bar charts don't change color like they do on the YM.

Let's take just the 50 EMA into consideration..... it's all about relative movement. How many ticks on the YM are equal to a tick on the ES? Well.... we're talking about one instrument that's trading around 1000 and the other around 9000 plus or minus. A tick on the ES might be equivalent to 3 ticks on the YM plus or minus. So the relatively larger swings on the YM make the EMA_Colors (which is measuring an angle) work better on this instrument !! This fact must be taken into consideration when employing the "All you Need" template to any instrument. Experimentation with each instrument is the key . Find out which setting is most appropriate for the given instrument. As we've mentioned before the Universal color moving average is probably better for the ES than the EMA colors indicator.

I still believe that the 4 range bar is the best for a trading chart on the ES with a 6 range bar chart as an anchor.

Jeff

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  #305 (permalink)
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max-td View Post
Blz, not a perfect "Strong Trend" here thats right.
do you have a fix definition for that yet ?
i think thats a key-point in this setup.

No I don't. In my opinion there is no way to fully identify a "strong" trend. You can use indicators but they were always too lagging. I simply look for a higher high/lower high or lower low/lower high. Also, with the currencies I look for this strong trend move to be at least 30 ticks. This 30 tick figure is something I picked up from feb2865 at forexfactory. On my prior post the move was 30 ticks but it wasn't a strong 30 tick move. Had I considered that it had a big pullback within the 30 tick move and had I put more consideration into the OBV I would have never taken the trade.

Good trading.

Blz

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  #306 (permalink)
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i think a definition is also possible without indicators - allthough they can give also a help -
i think about price-action+ stuff like your 30 ticks minimum.
ie : minimum 5 neg candels like you have them in you pic here https://futures.io/attachments/general-discussion/1607d1251902740-all-you-need-cl.png

just some "hard facts" to make the decision if its valid or not.

max-td
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  #307 (permalink)
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max-td View Post
i think a definition is also possible without indicators - allthough they can give also a help -
i think about price-action+ stuff like your 30 ticks minimum.
ie : minimum 5 neg candels like you have them in you pic here https://futures.io/attachments/general-discussion/1607d1251902740-all-you-need-cl.png

just some "hard facts" to make the decision if its valid or not.

Great stuff max. I had actually been considering that very same idea. Quantifying the strength of the move by (1) needing 30 ticks and (2) consecutive red/green candles. Or something along those lines.

Good trading.

Blz

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  #308 (permalink)
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Jeff Castille's Avatar
 
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Go for the gold

So far so good. Two trades.... one following the news pre market...... and one gold trade.

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All you need-ym-09-09-9_3_2009-10-range-.jpg   All you need-gc-10-09-9_3_2009-8-range-.jpg  
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  #309 (permalink)
Trade with the flow
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Jeff Castille View Post
I still believe that the 4 range bar is the best for a trading chart on the ES with a 6 range bar chart as an anchor.

Ok, so we're in sync here. Can you please tell me a bit about how you use the anchor. Do you have any indicators on it?

I'm amazed that you're profitable the past few days. I really think you're reading the price action well. I need to get much more serious about this and study my charts every night, as Blz said. I was doing that before and became profitable. Then thought I didn't need it any more and was unprofitable. So I need to reserve the afternoon session for studying and reviewing instead of more trading.

Also could you describe how you use a trendline break to enter/exit? I've learned that a break is not necessarily a reversal, it could just be a change in trend (slowing down, less momentum, etc.). I understand about entering a break of a swing pivot, but for the trendline it's not as clear.

I'm not sure if you guys ever read the Darvas book (https://www.amazon.com/dp/9562914534?tag=advanwebamazocom&camp=213381&creative=3...id=1WGJFS22VM8V9EPDJ45G&). I got tired of reading trading books, I think I just need to focus on the things we do in this thread. So I like to read books about famous traders. This book is really great. My point is he didn't even have a computer and he made 2 million dollars!!! Just reading price & volume.

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  #310 (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



Jeff Castille View Post
So far so good. Two trades.... one following the news pre market...... and one gold trade.

Jeff - you're amazing! That just might be the high of gold and you could say you sold the exact top. Just don't mention you got out a few points later.

How did you pick 8 range for gold? There aren't a lot of bars. Weird having a 1 bar pivot.

Also the EMA was still up but you saw the double top. This is more like the way I trade ES on the turning points and pullbacks.

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