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Hii Jeff
I got question regaring your YM 15m range chart...
I don't know where to download this dots first of all
2nd i see the dots in your picture for example you mentioned few post eariling that even a dots in choppy market is good for 8 ticks.. could you explain where would you enter the trade? I assume that the dots appear after the bar close ... if not please explain a bit.
thanks
Can you help answer these questions from other members on NexusFi?
You clearly have not read the thread. My entries were explained in detail earlier today. Everything you have asked has been explained in great detail. Invest some time and read the thread.......if you still have questions.....then ask.
Jeff
PS....there is no such thing as a 15m range bar chart........it's just a 15 range bar chart.
Just copy it to your clipboard, open the indicator and find those lines, they will differ slightly in that they won't have the hash. Then paste mine over yours. That's it.
Repainting - updating a plot after the bar has closed (calculate on bar close = true/false)
Updating - updating a plot before the bar has closed (calculate on bar close = false)
Updating is normal. If I understand Jeff correctly, he is using COBC = false and midbar the bar/TEMA will turn blue and he enters. A few ticks after he enters if the price goes down the bar & TEMA will likely turn back to grey. To decrease the likelyhood of this happening, one can wait for an additional confirmation such as a break of a swing high/low and/or a confluence of other indicators/patterns/data.
I'm currently using a faster chart and entering on a bar close. I'm debating using a slower chart and entering mid-bar as Jeff as described.
Back to repainting.. I can open the source and see if it repaints, takes me just a few seconds. But I imagine those who aren't programmers are unable to do this. As a result, you may manually backtest a strategy and find it works great. Then you go to trade it live and you find you're entering a bar late. Or the entry you made is suddenly no longer valid as the last bar changes colors. It's very frustrating. I've been bitten by this many times. This is why it's important to practice trading on sim with real time data (or market replay) before trading with real money, even if you think you know what you're doing and are already a profitable trader.
I once came up with a strategy where I imported data posted to a website, used it for calculations and then made trade decisions. I downloaded several years of historical data in excel and imported into ninjatrader. I thought I found the holy grail. So I went to trade it live (skipping the simming step, this is a while ago when I was much more naïf). It was disasterous. -$3k in 3 days before I figured out what happened.
Turns out the guy who made the data timestamped the 9:00 - 9:30 bar 9:00 while Ninjatrader timestamps it 9:30. So in my backtesting I was actually seeing into the future by 30 minutes. Which obviously didn't work in real time!
Learning to trade is like several years of mistakes. Every mistake you write it down and learn the lesson and try not to make the same mistake. After a few years you make less mistakes and start to become breakeven. And then profitable.
"mid-bar" = after the open and before the close. You are correct, it can turn blue anywhere. IMHO the exact tick it turns blue isn't that important. It's to know why it will turn blue and approximately when, and to trade accordingly.
I am "playing" with the StepMA and my old TS, this gives me just two colors, no indicators below to look at, and only two directions....
Maybe I will add the excellent ADXVMW to show chop, but let's see for a few days.
Don't ask templates, I don't give them as long as the setup not is completed and tested.
Jojo.
Was not intend to trade today, but market was awake....
</SPAN>Is there a "best time of the day to day trade?"
</SPAN>Even though there is not "a best time" of the day to trade, there are certain hours that provide greater opportunities for a day trader. In the stock market in the United States, these hours are somewhat limited. The stock market officially opens at 9:30 AM EST and closes at 4:00 PM EST. The prime time day trading hours for stocks are between 10:00 AM and 12:00 PM and between 2:00 PM to 3:30 PM. When the stock market opens at 9:30 AM, there is a lot of volatility during the first half hour of trading and it become difficult to determine the general direction the stocks are moving. At around 10 AM, when the dust begins to settle, there is usually a better indication of the morning trend of stocks in general. Between 12 PM and 2 PM EST, many traders and other market participants are out to lunch and trading slows down quite a bit. Consequently, it is usually a good idea not to initiate new stock trades during this time. Around 2 PM EST, trading activity starts picking up again and builds up until the close. During the last half hour of "official" trading, the market might get chaotic again, so (in general) it is not a good idea to get into new trades during this time. Even though some people will argue that it is possible to day trade in the pre-market and after-hours trading sessions, the lower liquidity makes it ill advised to attempt to day trade.
</SPAN>Since foreign exchange is a much bigger market than stocks and trading goes on 24 hours-a-day, there are many more opportunities throughout the day to day trade. Depending on what time zone a day trader lives in, he may choose one or various ranges of hours during the day to execute his trades. Since during the hours when the European financial markets are open (around 2AM EST to 11 AM EST) there is a lot of currency trading activity, this can be a perfect time to day trade. Day traders in the United States who are in Pacific Time can take advantage of these trading hours (as well as Europeans and traders from other countries in a similar time zone). The U.S. financial markets start around 8AM EST and the stock market officially closes at 4 PM EST. Consequently, during these times the forex market is very liquid. In general, from about 8 AM EST to about 2 PM day trading can also be successfully carried out. Finally, at around 7PM EST the Asian markets open and activity on the USD/JPY currency pair begins to pick up. This can be a great opportunity for a person who has a day job to give day trading a try. In general, the only times that new day trading positions shouldn't be initiated in the currency market are between 2 PM to 6 PM EST. The reason for this is that the US market is about to close (so forex trading activity slows down) and no major financial market in the world is open .
