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Vovan348 Day Trading TF with NFT setup
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Vovan348 Day Trading TF with NFT setup

  #491 (permalink)
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Alright! I think if I share it now there is more chance to make it work.

I have on the chart 20 EMA, 89 LinReg and 233 LinReg.

Setup that I'm looking for sets when direction of the trend changes. It's kinda tricky on the trend day.

Here are the rules I came up with so far:

1. EMA has to cross 89 LinReg (BL)

2. Price has to break though BL and EMA (not just bar closed on another side of EMA. I'm talking about few bars).
AB has to be at least 3 points for R/R ratio.

3. Pull back to BL.

4. Entry between EMA and BL. Sometimes it goes all the way to BL and even close on the opposite side, but previous High/Low cannot be broken. I use stop order one tick above/below the reversal bar.

5. My stop is 11 ticks. I prefer it to be above/below BL if entry allows me. Stop goes to BE+1 after 61.8% reached.

6. The first target is 100% extension from ABC.

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You can add to position on pull backs to EMA also. Relationship between EMA and BL can tell you if it's gonna go further. When those lines are moving together straight in your direction that means it's not over yet. When they cross that means that trend is getting weaker (on the trend days it can be that way for a while but I wait for setup in opposite direction). So when I see that price is reaching my target I look at EMA and BL and if they are moving close to each other and straight in my direction I would move my target to the next level. I think that it's better to close position if EMA crosses BL, but on the trending day stop could be trailed after Highs/Lows.

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  #492 (permalink)
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There was another setup right before my example
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And another one before that. This one stopped one tick below 100% but I place my order 2 ticks below/above the target.
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Last edited by vovan348; December 7th, 2011 at 10:53 PM.
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thanks for posting the setup you are playing with. is this just a pattern that caught your eye or did you pick it up from elsewhere? its always nice to see people perspective on trading setups and patterns..

dont believe anything you hear and only half of what you see

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madLyfe View Post
thanks for posting the setup you are playing with. is this just a pattern that caught your eye or did you pick it up from elsewhere? its always nice to see people perspective on trading setups and patterns..

Well you can look at it as one of harmonic patterns or H&S or the end of wave 2 or B. I haven't seen anybody presenting it this way. I just saw it on the charts while playing with indicators.

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vovan348 View Post
Well you can look at it as one of harmonic patterns or H&S or the end of wave 2 or B. I haven't seen anybody presenting it this way. I just saw it on the charts while playing with indicators.

well i hope you post more of these in your journal! ive been on this whole simplify my trading kick lately so it helps me out..

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What is the red dash line? How do you use it? Maybe I missed that...

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vovan348 View Post
..

Now I understand why people become profitable when they create their own methods. Because you know what's the reason for everything on your chart. ..

Amen! to that.

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whatever happened to the second ABC setup in this post? https://futures.io/trading-journals/11311-vovan348-day-trading-tf-russell-2000-futures-contract-nft-setup-50.html#post175042

also, would this be a failure?

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dont believe anything you hear and only half of what you see

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Last edited by madLyfe; December 8th, 2011 at 12:46 PM.
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  #499 (permalink)
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-8.0 points

Had a horrible day today.

It started alright. I got first signal, but I knew that's a corrective wave (pull back). I was very careful and moved my stop to BE+1.

I had to leave by 10.30am so I was trying to be done by that time. As we all know market doesn't do what we want. I took another 3 trades after setup failed, then I just tried to jump in short. Haha... Don't ask me why because I don't know. Then after I came back I tried to take continuation trades because I could see that we are going down. That didn't work either. lol.

So what I have learned today that that method is not so great on trending days like today.

But I'm not giving up. One loosing day doesn't mean anything. I might take some more trades today also and might get some of that back. I also know that some of those trades were not according to the plan.

@madLyfe Yes it did fail. It failed a few times today.

@bluemele Red dash line is 233LinReg (89*2.618). It shows bigger trend direction (basically that's 89 LinReg from 610T). When you take trades against it you are in a pull back, when all of them move in the same direction that indicates nice trend.

I knew that when something gonna happen after I share it. Haha... I don't think that it doesn't work though. If you look few days back you can see how much you could make. All systems have flaws. The most important to have more winning days than loosing.

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This is what happened on 610T charts today. One setup at open. Get in and forget. LOL.
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