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the easy edge for beginner traders


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the easy edge for beginner traders

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  #1071 (permalink)
phl pa. usa
 
Experience: Advanced
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For Alli-

Here's another example of how the low drew itself up to the magnet.

NYSOM


:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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  #1072 (permalink)
phl pa. usa
 
Experience: Advanced
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Here's another example on how a magnet works. Notice the blue oval on the bottom of the page, which is the low. We drew a price level from the top left blue oval to the right blue oval to show how the magnet was completed. The blue dotted line is just to show you the length of the trend. Keep in mind that this set up started Monday and completed today, Thursday.
NYSOM


:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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  #1073 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
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Thanks for the explanation. That helps a lot.

Now that I'm watching this on the chart live, what should I be looking for as far as an entry goes?

Lets say that things are moving up and price is above the trend line like it is right now on the 1h /ES chart.

At what point is a short triggered?

The reason I ask this is because I've seen price move below the trend line and then pop up above it again and make a new high which would have been a loss. So breaking a trend line by itself is not enough to go short.

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  #1074 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
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Ok, I've done some testing on the 30m charts. I have a few questions now that I've marked the chart all up.

1) It is often where signals are triggered in after market hours. What do you do when a trigger came in during the night?

2) Lets say you are now long and the first bar is the highest after the MA cross. The MA drops below the trend line and after 2 bars you get out for a loss. The two MA lines however never cross and it moves on to make a new high. D you get back in long at any point or do you sit out until you get a short signal?

Thanks,

-Alli

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  #1075 (permalink)
phl pa. usa
 
Experience: Advanced
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Posts: 1,126 since Mar 2012
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thanks for your questions


pic of overview


pic 1-note high bar - i use a horizontal bar to give me a time balance to see when possible break would be --also we took the short at 1st signal but market tracked higher -we use a 15 point stop on our pivot short term swing trades so we were still in this trade - you could exit and wait for next setup


pic -2
same situation from last night red bar gives best guess for time and distance















Allistah View Post
Ok, I've done some testing on the 30m charts. I have a few questions now that I've marked the chart all up.

1) It is often where signals are triggered in after market hours. What do you do when a trigger came in during the night?

2) Lets say you are now long and the first bar is the highest after the MA cross. The MA drops below the trend line and after 2 bars you get out for a loss. The two MA lines however never cross and it moves on to make a new high. D you get back in long at any point or do you sit out until you get a short signal?

Thanks,

-Alli


:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
Visit my futures io Trade Journal Reply With Quote
 
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  #1076 (permalink)
phl pa. usa
 
Experience: Advanced
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Posts: 1,126 since Mar 2012
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very quiet week - 30 min pivot chart update - banked 16 points per contract traded - i believe that is 4 weeks in a row with 16 points or better for this system - we are currently short form 1412 area with a 15 point stop - we did have a long signal but the 1 trendline was flat and weak -so we stayed in the trade to - we are currently as of this posting 3 points in the red on this trade

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
Visit my futures io Trade Journal Reply With Quote
 
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  #1077 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
Thanks: 5 given, 64 received

Ok, I've got my charts all set up with what I want to do for now. I've decided that I'm going to start with a 1 day and a 1h chart. If the 1 day chart is long, then I will only take long trades on the 1h chart. I'm sure this will generate a few more questions but this is going to be my starting point. I spent all day yesterday until around 11pm working on playing around with the charts on my watch list. We will see what this coming week brings me. :-)

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  #1078 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
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creekboy View Post
very quiet week - 30 min pivot chart update - banked 16 points per contract traded - i believe that is 4 weeks in a row with 16 points or better for this system - we are currently short form 1412 area with a 15 point stop - we did have a long signal but the 1 trendline was flat and weak -so we stayed in the trade to - we are currently as of this posting 3 points in the red on this trade

I set up this exact chart trying to understand exactly what was happening so I can get a better handle on this strategy and it looks like the high at Thursday at 1:30 am (EST) would have been the high. Splitting at that point, it gave an exit signal around 5:30 to 6:00 am (EST).

At 8:30am (EST), it had an equal high which caused the trend line to move which then made it so that the trade was still long, but you would have gotten out before this if it was live data.

I see this happen numerous times in the charts that I'm studying myself. What is the best way to deal with a long trade that gives an exit but then moves on to new highs which makes the exit signal you previously took invalid?

Thanks,

-Alli

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  #1079 (permalink)
phl pa. usa
 
Experience: Advanced
Platform: tos
Trading: es
 
Posts: 1,126 since Mar 2012
Thanks: 106 given, 347 received

there is no greater time in a traders life -then when a real plan comes together -




Allistah View Post
Ok, I've got my charts all set up with what I want to do for now. I've decided that I'm going to start with a 1 day and a 1h chart. If the 1 day chart is long, then I will only take long trades on the 1h chart. I'm sure this will generate a few more questions but this is going to be my starting point. I spent all day yesterday until around 11pm working on playing around with the charts on my watch list. We will see what this coming week brings me. :-)


:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #1080 (permalink)
phl pa. usa
 
Experience: Advanced
Platform: tos
Trading: es
 
Posts: 1,126 since Mar 2012
Thanks: 106 given, 347 received


I see this happen numerous times in the charts that I'm studying myself. What is the best way to deal with a long trade that gives an exit but then moves on to new highs which makes the exit signal you previously took invalid?




this is why we run a 15 point stop - i know some will have a hard time justifing it - but we are up better than 68 points in 4 weeks on this swing pattern -3400 per contract traded (10,000) or 34% for the last month-


also the thursday area your question is concerning - we were holding the 1400 level and based on our pivot method it was best we held the position


:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
Visit my futures io Trade Journal Reply With Quote


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