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All you need
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Created: by Jeff Castille Attachments:534

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All you need

  #811 (permalink)
Elite Member
Seattle
 
Futures Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Favorite Futures: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 266 received

I attached a pic of a nice trade set up on 6B today. I took this trade and actually blew it, didn't stick to my trade plan and tried to get too subjective about how I managed the trade. That being said it's a nice looking setup and a good reminder of sticking to your plan.

Note the highlighted L/H and the fractal breakdown. Then the L/H's which provide great points for resetting your stop.

FYI the error I made on this was deciding not too long after my entry that the trade was struggling to move and I closed it out for +2 ticks. I should have stuck to my game plan, managed my risk and either aimed for my target or a runner.

Blz

UPDATE: This trade would've been a total gem. As I look now it would've been good for nearly 80 ticks. I don't take frustration from this, rather I take confidence knowing my setup was spot on and that I just need to make sure I stick to my plan. Good trading to all.

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All you need-6b.jpg  

Last edited by Blz17; September 17th, 2009 at 02:08 PM.
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  #812 (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
 
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Fractals

Hey blz17,

Can you talk a bit about fractals and how you use them in real time?

Thanks, Jeff

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  #813 (permalink)
Elite Member
Seattle
 
Futures Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Favorite Futures: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 266 received



Jeff Castille View Post
Hey blz17,

Can you talk a bit about fractals and how you use them in real time?

Thanks, Jeff

Happy too. First off the following link is how I view and define fractals.
Make The Fractal Your Friend

In essence I simply use fractals to identify key points for breakouts/breakdowns and levels to set stops. I re-attached my chart from my prior post. The blue and purple up/down arrows are fractals as defined by a Fractal indicator. I don't need the indicator but it helps to plot some key areas (I attached the indicator and note it's not the bwFractals as that indicator had some issues when Ninja restarts).

The key, imo, for the success of using the fractals for breakouts/breakdown is gauging the overall strength of the prior swing or the situation. For example on my chart where I missed the short the L/H was telling me the market was weak and therefore added validity to the fractal breakdown. If you look to the left side of that chart there are some L/L's marked by purple down fractals but I wouldn't trade those as the preceding action is not very strong to the downside, it's rather choppy and increases the odds of the fractal breakdown being a trap.

I'm more then happy to expand on this. I'm a little tired today so don't even know if I'm making sense right now.

Blz

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All you need-6b.jpg  
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  #814 (permalink)
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Is this all you need?

Could you trade off this chart?

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All you need-zn-12-09-9_17_2009-4-range-.jpg  
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  #815 (permalink)
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Shark attack

How about this one?

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All you need-zn-12-09-9_17_2009-4-range-.jpg  
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  #816 (permalink)
Elite Member
Perdido Beach, AL
 
Futures Experience: Intermediate
Platform: graph paper
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I'm a little confused.... green means I sell...? right?



Looks great guys. Me likey. I won't admit to being a master beta tester on an online forum....but if you need to give it a whirl in the spot forex market I would be happy to help.

Later
Chris

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  #817 (permalink)
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MIAMI,FL
 
Futures Experience: Advanced
Platform: NinjaTrader
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red sell green buy

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  #818 (permalink)
Membership Revoked
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Futures Experience: Master
Platform: MB Trading Navigator
 
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Blz17 View Post
Happy too. First off the following link is how I view and define fractals.
Make The Fractal Your Friend

In essence I simply use fractals to identify key points for breakouts/breakdowns and levels to set stops. I re-attached my chart from my prior post. The blue and purple up/down arrows are fractals as defined by a Fractal indicator. I don't need the indicator but it helps to plot some key areas (I attached the indicator and note it's not the bwFractals as that indicator had some issues when Ninja restarts).

The key, imo, for the success of using the fractals for breakouts/breakdown is gauging the overall strength of the prior swing or the situation. For example on my chart where I missed the short the L/H was telling me the market was weak and therefore added validity to the fractal breakdown. If you look to the left side of that chart there are some L/L's marked by purple down fractals but I wouldn't trade those as the preceding action is not very strong to the downside, it's rather choppy and increases the odds of the fractal breakdown being a trap.

I'm more then happy to expand on this. I'm a little tired today so don't even know if I'm making sense right now.

Blz

By definition, fractals LAG!!

Simpler to use the High and Low of previous candles since that's where a fractal will appear!!

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  #819 (permalink)
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Seattle
 
Futures Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Favorite Futures: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 266 received


TheRumpledOne View Post
By definition, fractals LAG!!

Simpler to use the High and Low of previous candles since that's where a fractal will appear!!

For my approach and style of trading the lag doesn't matter. I don't trade off a fractal right after it paints. It's used as a point of reference later.

Blz

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  #820 (permalink)
Elite Member
MIAMI,FL
 
Futures Experience: Advanced
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Posts: 1,060 since Jun 2009
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our dots have nothing to do with fractals these are dots based on some sharky rules the same rules you have been studying from me for months just some all bundled into a indicator that gets close to where i personally like to enter quick scalps...sharky

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