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All you need
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Created: by Jeff Castille Attachments:534

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All you need

  #31 (permalink)
Member
canada
 
Futures Experience: Intermediate
Platform: ninja trader
Broker/Data: infiniti
Favorite Futures: es
 
Posts: 35 since Jul 2009
Thanks: 4 given, 8 received

hi jeff thank you for sharing but he template you posted have only the swing indicator in it.but nothing else and does not look like the last chart you posted and ano signal arrows are showing
thanks again
hanaa

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  #32 (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
Thanks: 1,785 given, 3,279 received

template

Hi Hanaa,

The arrows were drawn after the fact. I'm not sure what is going on with the template. It might be easier for you to just load the individual indicators that are posted.

I'll include and EMA_Colors with Arrows. Remember just because an arrow appears does not mean it's an entry.

Jeff


Last edited by Jeff Castille; May 8th, 2010 at 03:00 PM. Reason: INDICATOR REMOVED
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  #33 (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
Thanks: 1,785 given, 3,279 received

Arrows


Another thought on the arrow thing. When the market is moving decisively the arrows are great.... but when there is chop you'll get a lot of arrows that don't mean a thing. You must combine the other factors (price action, support/resistance,time of day etc)

Like this morning , you could get an arrow at S2. No sense shorting right into support. Wait for support to break then watch for the retrace.

Jeff

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  #34 (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
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Jeff - thank you for this very informative thread. I have configured my chart and will try to watch YM and look for entries.

How many trades do you take per day? Do you trade in the afternoon? I trade the morning only and then if I'm available the last hour of the day.

I'm curious if you have any ideas of how this would work with ES? I'm already trading ES so it'd be a lot easier for me to monitor ES with your chart rather than monitoring both ES & YM. I'm curious if you'd still use 10 range and if your targets would be different.

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  #35 (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
Thanks: 1,785 given, 3,279 received

Misc

ES and YM are highly correlated. However, I find that EMA_Colors (50) does not turn color on the ES ( 4 range bar) like it does on the YM.
As far as trading frequency..... I watch for a move shortly after the open. I've been studying Toby Crabel's book "Playing the Opening Range Breakout" This is a dangerous time to trade but.... often very profitable. Usually a set up will occur 10-15 minutes after the open. I've been doing a study on this trade researching every open for this current contract. Check out this book if you get a chance.
Next trade is a set up after the first half hour. Lately, this seems to set up at 7:11 AM PST plus or minus. Be careful of news releases at this time. I stand aside for news. Let the news filter through the market then resume trading 10-15 minutes after news release.
Next set up seems to occur around 7:38AM plus or minus. I take a look at 8:00AM and 8:30AM but find these are not usually as productive times. Final possible trade of the morning is the last push before lunch. This occurs just before 9:00AM PST

Then "Dead Zone" "Doldrums" what ever you want to call it. Bottom line lack of participation by the major players because they are eating lunch. This lasts from around 8:30AM-8:45AM ish till 10:30-10:45AM ish. So, take a break during this time.

I'll only look for two more trades. One more between 10:45AM- 11:30AM PST. After 11:30AM PST I stand aside as the market gets a little crazy when the bond market is closing out. (They'll often close bond positions and enter the indicies) It's been interesting how there'll be what Linda Raschke calls a "jiggle" right around Noon PST that corresponds with the bond market closing)
Then last set up is the close. This is as dangerous as the open but...... often very profitable. Mutual funds and etf's must have there orders executed before the close so you're gonna see some action most of the time. I find this usually occurs around 12:35 PM PST and again 12:45PM PST. If something isn't happening by 12:45PM PST I'm done.

Hope this answers your question,

Jeff

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  #36 (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
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Thanks for your trading times, I'm goin to keep these in mind. How did you get 4 range for ES instead of 10 range? I've never used range charts other than practicing a little of sharky's scalping technique. I'm curious how you decide what to use? I'm currently using tick charts with 3 timeframes, my main chart is 699 for ES and I use 3x up and 1/3 down. I'll play around with range charts and see what compares to YM 10 range.

I've read crabel's book. The next step for me in the opening range theory was Fisher's "The Logical Trader". He adds a lot more method to it. I just read it a few weeks ago on vacation and I haven't put it to use yet but I plan to look into it more. If you like Crabel's ORB idea then you'll like Fisher's book.

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  #37 (permalink)
Elite Member
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Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
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Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,279 received

Es/ym

As far as chart settings go.... I liked 8-10 range bar on the YM and finally settled on 10. Since I watch the ES,NQ and TF it was just a matter of comparison between these indicies and the YM. The fact that Big Mike likes the ES (4 range bar) kept me checking it out. My rule of thumb.... trading chart setting times 1.5 for anchor. I'll also, keep a minute chart up and monitor it especially a 30 minute on the half hour.
One reason I like the range bars is that the globex session is not distorted like on minute or tick charts. This is particularly helpful as the U.S. market opens.

I've found that corresponding tick charts on the YM are 512 T is close to the 10 range bar and a 1200 T is close to a 15 range bar. So..... if you prefer tick charts try those settings.

Yes... I've heard of the Fisher book and have been interested in checking it out. But.... one thing at a time. I'm focused on Crabels opening range break out right now. It seems this trade often sets the tenor for the whole day.

Jeff

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  #38 (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
Thanks: 1,785 given, 3,279 received

Another thing

If you go to DailyNotes.com they have the Crabel day types listed and identified . Very useful tool.

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  #39 (permalink)
Elite Member
Memphis, Tennessee
 
Futures Experience: None
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Favorite Futures: ES, EUR/USD
 
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Hi Jeff, thank you for this thread. Which economic calendar do you look at for upcoming news announcements? My other question is do the charts provide all the information necessary to trade profitably, even during most news announcements? Thanks.

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  #40 (permalink)
Elite Member
NJ
 
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Posts: 7 since Aug 2009
Thanks: 1 given, 0 received


I can't seem to find ECOBars_SharkyPkg indicator.
Would someone care to direct me where I can find it?
Thanks.

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