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All you need
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Created: by Jeff Castille Attachments:534

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All you need

  #61 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
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Posts: 2,119 since Jun 2009
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ES Application of All you need

Hey Cunparis,

I've been working on a possible solution to the 50 EMA problem with the ES on a 4 range bar chart. Try the ColorSampleUniversalMovingAverage and see what you think. the only disadvantage that I can see is that it does not offer the "flat" or neutral option that the EMA Colors has.

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  #62 (permalink)
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Anyone please help? I added the indicators as instructed, but the 50EMA color is not quite right. Please advise on the setting with EMA_Color_with_Arrows indicator. Thanks!

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  #63 (permalink)
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canada
 
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hi jeff could you please post the template for your es 4 range chart thanks

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  #64 (permalink)
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ES Application

Hey Guys,

Remember.... I don't trade the ES. The "All you Need" Template was originally conceived to work with the YM. I did however use a different 50EMA as stated in the above post in an attempt to minimize the amount of "flat" dots on the EMA line for the ES traders. I'll post that chart again here. Instead of the EMA_Colors, use the ColorSampleUniversalMovingAverage and see how you like it. The actual price action still looks good.

Jeff

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  #65 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
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Jeff Castille View Post
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?

I didn't look at the chart until after 9:45 so that's why I missed the entry at 9:43. Then it pulled back and I said that I would take it if it made a new swing low. That was my thinking at the time. I'm not sure if I should have skipped it all together or not. What I took could be considered the 2nd pullback which as you've said is more dangerous.

The one at 10:03 is interesting. I wasn't even considering that because I was focusing on taking breakouts. But after looking at your other charts I see how you get in on a trendline break once the ma turns up and the bars turn blue. So that would have been a good exit signal for my failed trade and a good long entry as well.



Quoting 
I'm curious what is your other set up?

Good point about the 2 min limit. I'll keep that in mind. How often do you get stopped out? Getting stopped out really hurts when trading 3 and makes it really hard to finish positive for the day if there are only a few trades (I usually only trade the morning and then sometimes the last hour). So I have to work on cutting losses earlier.

I'm currently trading ES using the tools from http://eminiwatch.com. I plan to post about this. I've been doing it with real money for 2 months now. I'm profitable but not as profitable as I'd like (Profit factor is about 1.5 and I'd like it to be > 2.0). I find it difficult to do. Basically you're catching turning points. There are only 3-5 good trades/day so that's why I'm looking for something to do in parallel. I think I can spread out the risk a bit that way. I'm also playing around with sharky's scalping technique and Tzachi's CL technique (but not all at the same time).

Thanks for your comments on my entry and for sharing your trades. That really helps me to understand what I could have done better. I will be simming again today and hopefully we can compare notes. It'd be great if others posted as well.

PS: I forgot to answer, I was not using an achor chart. I'm not sure exactly how you use it.


Last edited by cunparis; August 19th, 2009 at 09:00 AM.
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  #66 (permalink)
Trade with the flow
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Jeff Castille View Post
Hey Guys,

Remember.... I don't trade the ES. The "All you Need" Template was originally conceived to work with the YM. I did however use a different 50EMA as stated in the above post in an attempt to minimize the amount of "flat" dots on the EMA line for the ES traders. I'll post that chart again here. Instead of the EMA_Colors, use the ColorSampleUniversalMovingAverage and see how you like it. The actual price action still looks good.

I really like how the EMA Colors indicator shows the grey areas. that helps to identify chop and stay out of bad trades.

The idea of using the color universal indicator with EMA is that I have that one ported to Tradestation.

PS: What do the arrows signal?


Last edited by cunparis; August 19th, 2009 at 08:59 AM. Reason: Corrected misunderstanding
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  #67 (permalink)
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Todays Action

For those who are interested.

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  #68 (permalink)
Elite Member
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Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,279 received

Do you need a MACD ???

Just thought that I would post the "All you Need" template with a MACD ColorBars indicator to demonstrate that the MACD is not necessary to have on the chart. To me.....they are telling me the same thing. So..... why clutter up the chart?

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  #69 (permalink)
Elite Member
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Posts: 2,119 since Jun 2009
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Todays Action

Welp, tomorrows options expiration so..... no trading for me. I'll be headed to the mountains.

Alan, you can try to Skype over the weekend maybe.

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  #70 (permalink)
Elite Member
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Futures Experience: Intermediate
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Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,279 received

ES Application


Hey Cunparis,

Here's the chart I promised. I'm very happy to hear you traded successfully today!!!

Jeff

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