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Ready Aim Fire Bullseye
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Ready Aim Fire Bullseye

  #1 (permalink)
Elite Member
houston
 
Futures Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

Ready Aim Fire Bullseye

Trading one year and have a big draw down to prove it. I want small steady profits. OK, Mike, I'm journaling for accountability and want to stop changing things. Was on TF but switched to ES when TF started jumping around like a flea on a griddle. I'm going back to TF, I guess, as it looks like it settled down. Using Fibs on tick charts with MACDBBLines. Also Keltner mid band divergence with MACD (mid band push; MBP). I'm mixed up and trying to figure this out. Fattails and Sharky methods look interesting...but that is more change. Will include Snagits when I get NT to display TextandMarkers. Had three MBPs today, one successful. Also, I start clicking for breaksout, Fib reversals, with too little discipline.

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  #2 (permalink)
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  #3 (permalink)
Elite Member
Newcastle
 
Futures Experience: Advanced
Platform: Ninja MT4
Favorite Futures: ES
 
Posts: 34 since Aug 2011
Thanks: 2 given, 30 received

I'm mixed up and trying to figure this out


The first thing you need to do is remove seven of the charts off your screen .Two should be enough one for the timeframe you trade and another for the next higher time frame to give you trend direction

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  #4 (permalink)
Elite Member
houston
 
Futures Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

Simplicity


oztrader25 View Post
The first thing you need to do is remove seven of the charts off your screen .Two should be enough one for the timeframe you trade and another for the next higher time frame to give you trend direction

Thanks, Oztrader25, yes I need simplification.
Today my first 6 trades were losers. With the help of your comment I knew I was trying to watch too much and look for too many setups. I narrowed my setups to two and started to make some points. I'll stick with that tomorrow and report. (Problem; when I turn off Textandmarker on a Ninja chart and try to change back, they don't reappear.)

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  #5 (permalink)
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Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received

You are doing good, but your charts are messy.

What is volume doing for you?

ES is especially tough to trade. I would also get rid of the lime green and remove as many colors as possible to lower your brain activity. Get rid of indicator labels, excessive and different colors, background that is easier on the eyes etc..

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  #6 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received


HighRise1202 View Post
Thanks, Oztrader25, yes I need simplification.
Today my first 6 trades were losers. With the help of your comment I knew I was trying to watch too much and look for too many setups. I narrowed my setups to two and started to make some points. I'll stick with that tomorrow and report. (Problem; when I turn off Textandmarker on a Ninja chart and try to change back, they don't reappear.)

What are your setups?

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  #7 (permalink)
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Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
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I would recommend that you spend some time with Bluemele as he seems well versed on your method or at least similar methods. I would concur with the others on getting rid of most of that garbage on your screen, all that stuff only serves to confuse you. I myself am a simple p/a guy and can tell you thats all you need. The simpler your chart is the better. All you really need is a candlestick/bar chart and maybe some oscillator and a good understanding of p/a and s/r and your good to go. I think your chosing the TF is good, ES can be traded but is a HFT mess generally

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  #8 (permalink)
Elite Member
houston
 
Futures Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

Setups


bluemele View Post
What are your setups?

Price Action
* Head and shoulders
* 100 percents
* Bar Setups
- Two bar reversal. Bars reach same level.
Second bar closes in opposite direction. Bars can be different lengths.
(http://www.trending123.com/patterns/Two-Bar-Reversal.html)
- Three-bar Reversal i.e. close, higher close, lower close
- Double Tops/Bottoms
- Rooftop
- Three Peaks (or four)
- Baby Bar
- Three Bar Slide
- Pivots from previous days
- Use trend lines
- The Overall Trend (Overbought/Oversold)
- Wedge
* MACDBB’s
- Foot
- From above/below
- From the side
- Bulge; decent bulges on the first 4 MACDs should go at least 2 and 1/2 points.
- Separation
- The “V.” Right side of V longer implies strong reversal.
- Bear and Bull Flags
- Grabbing the rail; one bb on the rail usually leads to 3 or 4.
- Trailing / Following B. Band
- Resistance area at center line
- Overbought / Oversold
* Fibs
- Retracements (50, 76, and 89 percent); these are “home plates”
- When retracement starts, mark 76 fib with orange target using last two pivots
- When surpassing the day’s high/low,
> reset pivots
* look to pivots for the new high/low from previous days.
* look to move opposite fib point to closer pivot, if there is one.
* If new high, then move low fib placement to last low pivot. If price moves down below low pivot, the next
pivot formed becomes the new low pivot.
* check Fib extensions to 61 and 100. (The 100 is most common. For the market to reverse at 61, it must
also be a 50 or deep retracement in a larger time frame.)
*Note earlier levels of support and resistance. Mark these points near price action.
> Watch for price to drop to 76 or 61 Fib, and then reverse to the deeps. Look for short.

* Price action, MACD, Fib, and Keltner Integration
- Divergence, when price trend does not match MACD trend
- The turning point, bulge, and divergence only works from Fib areas.
- Keltner “Mid Band Push,” and “Mid Band Breakthrough.” Here the price move versus the Keltner midline creates
divergence.
- Levels of past support and resistance for new highs and lows.
- Look for patterns. They may appear today multiple times when they might appear only occasionally otherwise.

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  #9 (permalink)
Elite Member
houston
 
Futures Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

Volume Indicator


bluemele View Post
You are doing good, but your charts are messy.

What is volume doing for you?

With tick charts volume is expressed by the number of bars created during a given time span, no? The one minute vol indicator makes it easy to see volume activity. A acquaintance here in Houston trades 10 ES cars at a time. He uses only Fibs and a volume indicator.

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  #10 (permalink)
Elite Member
houston
 
Futures Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

Deja Vu


Same trading pattern today as yesterday. Started confident with aim of focusing on only two setups. Got five losing trades on TF. Then I caught a 610 foot for 7 ticks. Next got two losers. Then I applied the trend lines I saw Bluemele using and started making points. .

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