Thank You for your queries,......the MovingAverages are the key, you truly have to play with them to make them feel just right for your favorite chart frame!!
What I'm looking at is for the price to cross the MA's, as that happens, the price will as you know retrace back to the medium MA for the conformation and VOILA
My Divergence Indicator is called Trader's Bias, I bought it from the Indicator Warehouse back in January, it's pretty clean, keeps me humble
and the BollingerBands are my TREND conformation, (look at the chart's upper left corner for the setup)
but my TRUE TRIGGER indicator is the Trader's DYNAMIC INDEX from the futures.io (formerly BMT) THANK YOU BIG MIKE and the fellow traders for making that tool possible!!
It is $$$$$ no doubt!!!
I have played with it and for me it works the best if: the dev is 0.205; thePRICEline is 2; the RSI is 7; the SIGNALline is 7; and the volaBANDS are 21
I can set this up on any chart type/time frame and it works from the small scalp to the longer>multiple days $$$$$maker! BLASTtheINSTITUTIONAL Money Managers
P.S. I apologize I have posted the 2 ES charts before the 6E my triggerC template is on as well
Last edited by Gabriyele; July 11th, 2011 at 03:49 PM.
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Hi @Gabriyele , Great thread. I found the green monster also. Since you are featuring Point & Figure charts, what advantage do they have for you? In my image do the period parameters of "box size" 2 and "reversal" 3 match your P&F template? Also on the P&F chart, do you enter a trade (on a crossover) before the P&F bar (XO column) closes? Or is the crossover (complete) final as the P&F bar (column) expands? Also, did you read a rule set by Dean Malone or Mark Douglas on the E.A.S.Y. method on the Trader's DYNAMIC INDEX? Or did you create your method by experience (trial and error)? Thanks Tiberius
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I have installed it on my charting package looks good. I really appreciate you sharing this with us.
Seems like I am making progress on narrowing down a trading method that can be successful.
absolutely, thank you as well for your input and in taking this to the next level
...in my experience of loosing trades, I have discovered not to trade without the stop EVER!!!
So with that in mind, every trade is entered with the $100 (per contract) margin of the mistake,
meaning if I enter 5 contracts, then the $500 is the most i'm willing to give away if I'm wrong!
and I give myself double that amount for the profits as well.
As the profits start moving forward, I protect them right away, and ride the rest of the way.
The majority of times I just reverse my trades as oppose to covering it alltogether.
Therefore, I highly recommend you also find yourself a very good Divergence indicator, it will save you big time/all the time!!
That 's just the way it has been working for me
And, it is very important to understand the larger frame of the movement in order to see where/what price you r going to, since the price IS what we are all trading and not the indicators.
If your account is small then definitely practice reversal trades, that is what has helped me increase my account size rather quickly!
The chart below is slightly longer term. 1080 tick PAF chart
And attached is my GMMA that has also helped me in the beggining. Hope it can help you as well as much!
Last edited by Gabriyele; July 12th, 2011 at 01:55 AM.
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Thank you for the PDF file I actually have never seen it.
The TraderDynamicIndex has been very much the Trial/Mistake game, I have been playing with it since June.
It is a pretty simple tool but so frickin powerful.
The GREEN MONSTER kicks ass!
Your templates are also very-very good! Thank You for sending me the pics of them.
The PAF charts I have known since I read the book about Jesse Livermore and his use of the PAF charts.
AND, the book (which I highly recommended) by Abe Cofnas called: "Sentiment Indicators: Renko, Price Break, Kagi, Point and Figure"
where Abe has mentioned that PAF charts are the best for use in:
1. Perceiving overall ressistance and support lines,
2. Projecting the breakout ranges
3. Balancing the bulls and the bears
....they are pretty simple to read, demand and supply and the byproduct thereof
He also goes in the great details about the Price Break Charts, Renko Charts, Kagi Charts, and the Cycle charts as well. It's a very good read.
(The Box size is 1 and the reversal is 2 on my charts, my own prefference )
Last edited by Gabriyele; July 12th, 2011 at 01:28 AM.
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