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All you need
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Created: by Jeff Castille Attachments:534

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All you need

  #51 (permalink)
Elite Member
ct
 
Futures Experience: Beginner
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Posts: 99 since Jun 2009
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Hi Jeff,

Just want to confirm your entries.

Do you enter in trade if 14 HMA change color and the candle change color or you wait for 50 EMA to change color too?

OR

you enter when 3 ticks beyond the recent swing high/low?

Thanks

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  #52 (permalink)
Trade with the flow
Paris, France
 
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Just for fun

Jeff,

Just for fun I was checking out an ES chart. I figured $12.50/tick for ES divided by $5/tick for YM = 2.5 so 10 range / 2.5 = 4 range. Which is what you suggested earlier. It looks a bit more clearer but in looking at several days it seems the EMA is grey more on the ES chart than on the YM chart. So that might give less trades. I wonder if there might be a better setting for the ES? What do you think?

I don't doubt that YM is better for your method, I'm just used to ES and I'm already trading it so if I can just do ES it's much easier for me.

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  #53 (permalink)
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Futures Experience: Intermediate
Platform: Ninja Trader
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Jeff Castille's Avatar
 
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ES Application of All you need


Hey Cunparis,

You might want to check out a 1600T with a 3600T anchor. These are the two tick charts that Linda Rashke uses for the ES. The best trades this morning were at 7:00 PST ish and 8:30 ish. 11:00 was a pretty good set up also.

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  #54 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
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Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
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Entries

Hey Milford,

Check out these two charts. One, the 10 range bar is your trading chart and the other is your anchor,15 range bar. Personally, I like to see the EMA Blue or Red. Otherwise you might be jumping the gun! If it has not changed there is no trend. Basically this is a trend following strategy. Pullbacks are known as a Continuation Trades. It's hard to continue something that hasn't started yet.There are times when you want to buy a breakout and there are times when you want to buy a pullback. So, to answer your question..... if you are buying a breakout... yes I would place a buy stop 3 ticks above the market and let it take me in. (with a stop below the recent swing low) But........ and this is a big but... remember it could be a bull trap (or bear trap in a short situation)

I think the best practice is to let the market declare itself... wait for a good pullback preferably to the moving average. (also, you might want to get out your fib retracement tool to determine what a good pullback is.... between 50-61.8% or 38.2% are good levels to watch) Then when the trend reasserts itself you can enter at the market. The trend reasserting itself would be defined as HMA turning back the direction of the trend, the ECO bars turning the more intense color in the direction of the trend and a trendline break is good. Learn to identify bull/bear flag price patterns. Also, more complex retracement patterns like an ABC. remember there are usually only 2 good pullbacks and the first one is the best.

Hope that helps, Jeff

Do a fib retrace from the 6:53 low to the 7:17 high and check out the perfect pullback!

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All you need-ym-09-09-8_18_2009-10-range-.jpg   All you need-ym-09-09-8_18_2009-15-range-.jpg  
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The following 4 users say Thank You to Jeff Castille for this post:
 
  #55 (permalink)
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ct
 
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Thank you Jeff. This is really helpful

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  #56 (permalink)
Elite Member
Sydney - Australia
 
Futures Experience: Intermediate
Platform: Ninja Trader
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Alan's Avatar
 
Posts: 155 since Jun 2009
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Hi Jeff,

Thanks for this setup and posting your charts. I traded the YM today using your chart setups and it worked really well. I had 4 successful trades.

The only thing that I have added is the swing temp indicator, as I find this helps me with my trading.

I agree that the less you have on the chart the better, otherwise it gets too busy and you loose sight of what you are looking at after a while.

Keep up this great work.

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  #57 (permalink)
Elite Member
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Jeff Castille's Avatar
 
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Way to go !!

Hi Alan,

I am so happy to hear that you traded well today with this template ! I am interested in this additional indicator that you added to the chart. Perhaps you would be willing to share it with us.

Jeff

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  #58 (permalink)
Membership Temporarily Revoked
USA
 
Futures Experience: Intermediate
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HJay's Avatar
 
Posts: 197 since Aug 2009
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I believe this is it... I would be interested in hearing exactly how Alan incorporates this into his decision making..

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Register to download File Type: rar SwingTemp.rar (3.3 KB, 331 views)

Last edited by HJay; August 18th, 2009 at 07:07 PM.
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  #59 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
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Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,279 received

Hey Cunparis,

I reviewed the sim trade you took this morning at 6:53 PST and it looks like a late entry to me. I believe that if you had entered at the market at 6:46 when the candle fired up you might have had yourself a winner or at the worst a breakeven trade. Why did you enter where you did? I can see that being in this trade kept you from getting into what turned out to be one of the better trades of the day at 7:03 ish. Were you using the 15 range bar anchor chart?

As for me, I was in the market at that time but was trying a different set up. I got short at 9133.... the market eventually moved in my favor +6. One tick shy of my first target. However, too much time had elapsed and I closed the trade at breakeven. I got a bad fill and took a 2 tick loss on the trade. If a trade hasn't hit my targets or stop after 2 minutes I start looking for the exit!!! I don't like that much exposure.

I'm curious what is your other set up?

Jeff

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  #60 (permalink)
Elite Member
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Futures Experience: Intermediate
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Thanks HJay

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