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A few more thoughts about the previously posted trades. You'll notice that these trades occured right around the release of news. I usually like to NOT trade 15 minutes before and after a news release. The first trade entry was right around that 15 minute mark (6:46 AM PST).....I thought that I had enough time to pull off the trade before the news came out.....I was wrong. The trade kicked around before the news and luckily went my way. I could have just as easily been taken out for a loss. So.....needless to say I would not recommend this as good trading practice. However, it still is a good example of the 1-2-3 set up that I am so fond of.
Just thought of one more thing that I wanted to share. Keep in mind that all the trades shown are confirmed by multiple time frames. That is to say......if I post a 20 range bar chart.....remember I am also looking at a 10 and 30 range bar also. In addition, I always keep and eye on a minute chart. I toggle between a 5 and 30 minute. So if you get the idea that you will simply trade the break of a recent swing....make sure that your other timeframes are in agreement.
Richard from MoveTheMarkets has created a nice indicator that may benefit a lot of people trying to incorporate MTF into a minimalist screen/chart view.
More info and the indicator itself:
Virtual Bars Indicator|Move the Markets (
Hi Jeff, so you enter without waiting for the bar to close - just as long as it beeches swing hi/lo by 1 tick you will enter mid bar - even if the bar could close in the wrong direction?
On your first trade shown, why did you not enter on the first bar (one with red dot above) that went under the swing low by 1 tick, was it because you did not get filled at that point?
Hi Jeff, are you still using the NT standard Swing (High/Low) indicator.
What was your setting on the 20R chart from yesterday (1 Dec), because I can get the bars to agree to mine, but I get different hi/lo points. Are you using 2 or 3 bars for the setting (either way I still get different answers).
On my chart ( see attached) my hi/lo indicator dots stop as soon as that level is penetrated - yours carry on for another bar?
I don't use the NT Swing high/low any more. The reason mine extends beyond where yours stops is because mine is drawn manually. I find that the indicator doesn't always catch the 1-2-3 trade the way I like it so I dumped it. Plus, I find drawing the lines keeps me engaged. It's also a good way to catch an A_B_C complex pullback.
You are correct on the first trade....that was just a wacky fill. You are also correct about NOT waiting for the entry bar to close. This is sometimes a two edged sword. On the one hand....if you wait for the bar to close.....by then the trade could be over (you missed it). On the other hand the breech of the swing could be a fake out. I find that if the chart is set at what I would think of as a medium setting.....not too fast not too slow that your identification of meaningful swings is easier and the swing high/low is therefore more meaningful. These intra-day swings are the basis of all my trading.
I'm sure there are many successful traders who wait for bar close to enter trades......I'm just not one of them. I would like to hear a bar close trader weigh in on why he or she prefers that method and what the benefits are.
