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Trading PA with 20BB and Volume pattern indicator


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Trading PA with 20BB and Volume pattern indicator

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  #1 (permalink)
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Inspired by Big Mike , my new year resolution was to cut back on my indicator list
so i have new trading plan for 2010 , i will be trading only 2 setups (describe below) and will update trades on a daily basis


Trading plan :
Trading Instrument : CL
Trading hours : 7CST - 13:30 CST

Trading with one chart only
indicator on the chart:

* Candle Sticks
* EMA 20
* Bollinger band 2 std deviation
* Volume pattern setting of 20 (default)
* Bar timer

Chart time frame : 24H
Drawing : Trend lines

Rules:

Setup1 / Volume pattern

1. always plot in the trend line from the last major pivot
2. Long trigger , Volume pattern at the near / below low of the Bollinger band with trend line break above the close of the last candle or trend line break
3. Short trigger , Volume pattern at the near / below high of the Bollinger band with trend line break below the close of the last candle or trend line break

Exception :

If 20 EMA is flat - avoid trading - this is my way to avoid chop.

Setup 2 / Double bottom / Double Top

1. Double bottom next to major support / swing pivot low buy above the last candle high
2. Double top - next to major Resistance / Swing pivot high sell below the last candle low


Money management:

Initial stop : 20 Ticks per Contract
First target : 10 Ticks
Second Target : 20Ticks

Max loss per day = 60Ticks
Max Win Per day = 100 Ticks



Trade 1:

price below the BB and volume pattern shows buying activity trend line break 81.44 , 1st target / 2nd target was filled
Trade duration = 3 bars

Trade 2:

Price near BB volume pattern show buying activity and 2B (very high probability trade) enter on a trend line break 81.42 1st target / 2nd target was filled
Trade duration = 4 bars

11:00 EMA flat - No Trade
12:00 - 12:05 - No Trade , price are not near BB

Trade 3:

price below the BB and volume pattern shows buying activity trend line break 81.21 , 1st target / 2nd target was filled
Trade duration = 3 bars


TIMES UP!!
didn't reach my daily goal , but cant complaint

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Very nice and very straight forward. One comment. I believe that you could take more out of the trade especially if you are trading with the trend on a higher timeframe. I know you want just one chart, but if you hit support for example and take a long especially after you see volume come in on the buy side, why not try and get more out of the trade? CL moves a lot more than 20 tics. I'm not expert by any means, just wondering.

David

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Totally agree with you.

but i found out that the more time i am in a trade the more nervous i am (My limit is 20 Min)
this is more a personality issue , then a trading issue .

i found out also that when i focus on one chart i am a better trader

Ban.

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Nicely done, ban!

I like the method you've chosen, but you probably knew that already. I look forward to your future posts and learning what you do with it and how you grow it and improve upon it.

Two suggestions. At the end of each day when you journal the trades, try also journaling about how you felt both before and after each trade (ie: "this one is about to blast off!", or "I exited this one too soon"). Second, try grading yourself on a daily basis. Grading should not be based on profitability, but instead based on how well you executed on what you told yourself you would do in the morning before you started trading. It is good to focus on just two or three things per day to grade yourself on later.

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  #5 (permalink)
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Today was a little difficult trading , i had only 2 valid signals and i ignore one of the signals because of the crude oil inventory news.
i was so upset that i didnt get in the trade but the trade was so fast and i miss that.

so the only trade i took today was at the lower BB band. for only total of 30Ticks
i was upset that i didnt trail my stop and got only 30Ticks from a move of over 100 ticks moves .

trade details .

Trade 1:

price below the BB and volume pattern shows buying activity trend line break 81.24 , 1st target / 2nd target was filled
Trade duration = 3 bars

during the trade i felt that i was making a huge mistake because the news is out and i dont really know what really happen with oil ,and i felt like the market want to go lower and i took 17 Ticks heat , i was thinking maybe to move my stop below the low of the day , but i didnt! i told my self if they want to get my money they have to come and get it :-) , i also noticed the volume to the down side was low comparing to the buy volume.

once the position was on the plus side , i noticed that the market didnt create a new low so i felt more comfortable with my trade and then i was out with my $300

i was waiting for another setup but didnt see one so i gave up and was done trading.

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  #6 (permalink)
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At least you didn't lose money. I wouldn't be too upset.

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true , but the problem is you setting next the computer and waiting and waiting .....
and nothing happen , i almost just bought because its going up and up ...

and i am thinking maybe i need to extra information to stay in a trade and so far i have no idea how , maybe someone here can help me to figure this one out.

thanks all
ban.

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Big Mike View Post
Nicely done, ban!

I like the method you've chosen, but you probably knew that already. I look forward to your future posts and learning what you do with it and how you grow it and improve upon it.

Two suggestions. At the end of each day when you journal the trades, try also journaling about how you felt both before and after each trade (ie: "this one is about to blast off!", or "I exited this one too soon"). Second, try grading yourself on a daily basis. Grading should not be based on profitability, but instead based on how well you executed on what you told yourself you would do in the morning before you started trading. It is good to focus on just two or three things per day to grade yourself on later.

Mike

Big mike ,

can you give me an some more example how do you grad you trades

thanks for your input

Ban.

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banbrooke View Post
Big mike ,

can you give me an some more example how do you grad you trades

thanks for your input

Ban.

Ban,

I think what Mike would say, and he can correct me if I'm wrong, is grade yourself based on whether or not you followed your rules. If your rules say to trail your trade and you don't then you get a bad grade. You can be harsh and give yourself an F like I would do for myself, or you can say D. If your rules don't say to trail and you don't then you have did what your are supposed to do. Maybe you need a rule in terms of how much profit you allow to slip away. I can relate.

You also made a comment about just jumping in. In my experience that is a bad idea. Its tough to watch it move without you, but if you jump in its always in the wrong spot.

I know you want to use one chart and I don't know if you use other timeframes or not, but based on what I see in CL it is in an uptrend. It broke the prior swing high of about $82 and the Fib extension of the prior down swing is about $85.50. I don't know if you like fibs but you can use them on any time frame to determine a target. If price is making HH and HL the HH will usually be 1.27 - 1.618 of the prior swing. The same is true for a down trend. So on your trade today you could in theory run and fib ext from that big down move and use the 1.27 as the target. You can trail or not. I've attached a chart as an example. Basically what I'm getting at is that since you are trading in the direction of the larger trend and the 1.27 extension on the daily is close you have things in your favor or probabilities of sticking with the trade. I hope this is of use.

David

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Today was a very good for me , i had 4 valid setups which works great
i also took David advice on Fibonacci target which was very helpful (thanks David)

here is the trade setups.

1st trade:

entry above trendline break line break with volume pattern at the bottom of the BB
first and second target filled (see pic 5th)
this trade took more then usual (5 bars) but after i trail my stop to B/E i felt good with the trade.
Grade A

2end trade:

entry below trendline break line break with volume pattern at the top of the BB
first filled and second stop at B/E (see pic 6th.6th1)
Grade C - i was too fast to move my stop to B/E

3rd trade:

2B setup at the low of the BB buy above the last candle high
first and second target filled (see pic 7th)

Grade A

4rd trade:

2T setup at the high of the BB short below the last candle low which was also a trend line break (high probability setup) (see pic 8th)


Grade B this is the first attempt to trail my stop with Fib extenstion lines

also i attached all 4 trades.

Ban.

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Ban,

I'm glad the fib extensions were of help to you. Nice!

David

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No trades for me

non of my setups trigger

i did took 1 trade not according to plan and got my 10T GRADE F - didnt follow my plan

ban.

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hey guys ,

today i have traded the market (i trade the market 2-3 days a week)

here is my trades.

Trade1:

LOSS - Grade A
price below the BB and volume pattern shows buying activity trend line break STOP LOSS.

Trad2:

reenter same setup as trade 1 - WIN!

Trade3:

WIN - Grade B
Double Top near BB, i grade my self B because of Not trailing my wins

Trade4:
WIN - Grade F
price below the BB and volume pattern shows buying activity trend line break target 1 only.

i grade my self and F because after my second trade i tried to trial my stop and i didnt follow my rules

Trade 5: Grade F - didnt follow my rules
Double Bottom setup - my entry was with 20EMA and not at the actual 2B , i waited because from some reason today the market didnt move fast.

thanks

Ban.

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Looks to me like you have the entry portion of the equation figured out pretty well. Although I can't quite pinpoint your exact entry rules they seem to work for you.

Devising rules for exiting is always harder because rarely will you exit at the perfect location. This is true for most all traders regardless of the instrument or trading style. Personally, I use two charts instead of one and rely on the faster chart for exits. Even with the faster chart I still get frustrated because I leave money on the table.

So I'll stick with my existing rules until my account size doubles. At that point, I'll add 1 contract to my trading. This will allow me greater flexibility when I'm in the middle of a trade. In your case, you could "graduate" to a 3rd contract that you may manipulate as you see fit. One idea would be to obtain your 1st and 2nd targets, then move the stop on the 3rd contract to BE +10 (the same as your 1st target). Then get up and walk away for 15 minutes or so.

Most of the time the stop will be hit at +10. But what do you care? You are in a free trade and every now and then you'll hit a runner for +40 or more.

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When I'm with my trading buddies I use a completely different method to trade, but they're not always around. Then I switch to a very simple method somewhat similar to what you've described.

I start with a 5 min chart and identify price zones. The idea is to group a number of bars to identify general price action in the past 30 to 60 minutes. I'll simply draw green lines across the highs and lows that create the zone. What I'm looking for is a breakout outside the zone.

Image #1
This common patten show highs that are descending but price is also being supported across the lows in a straight line. Being in a recent uptrend my tendency is to think price could easily pop above the zone. But I really don't care what price does as long as it breaks out of the zone. I'm not in the business of predicting the next move, I'll just let the market tell me what it wants to do.

And the next to last bar in the image trades below the zone. That's simply a heads up that it's toying with going lower.

Image #2
Sure enough, the market does head lower. This is confirmed by a close below the zone.

The steps I follow after creating the zone:

1] Look for a heads up where price trades outside the zone

2] Wait for a confirmation close outside the zone

3] Enter a sell stop 2 pips below the low of the previous bar

4] Once in the trade I create a new zone for this down move. If a bar closes above the zone I know it's time to get out.

That's the basics, but there are a number of secondary rules I use. For example, placing my stop is tricky but as a general rule I don't want price to get back too far into the zone. My ATM is programmed to automatically put in a 10 pip stop.

I'm looking for a strong move outside of the zone. It if doesn't develop quickly I know it's time to sneak out with a little loss or little gain. That's because I know taking a few small hits don't really hurt me and the strong move I've been waiting for will surely come.

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Thank you so much for your input

i really appreciate your help.
can you please elaborate on the smaller time frame for your exit , i really need to improve my exit system

thanks

Ban.

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hondo69 , I like the use of price zones I use them as well I refer to them as areas of confluence and will usually wait for price to approach an area before I take a trade. I find this minimizes my trading frequency and gives me a clear area to place my stops.

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hey guys

today i had 3 trades all grade A and all made 2 targets

trade1:

price below the BB and volume pattern shows buying activity trend line break

Trade 2:

2T setup at the high of the BB short below the last candle low which was also a trend line break (high probability setup)

Trade 3:

price below the BB and volume pattern shows buying activity trend line break

trade 1 and 3 are by definition counter trades and i feel like i need to change my system to add with trend setup (its hard mentally always play counter trend )
i will be adapting some new ideas next week from this website (maybe use Big Mike trading method if he agrees :-) ) to trade with trend

appreciate if you guys can help me find with trend setups (No indicators :-))

thanks all

Ban.

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Hi Ban,

Just wanted to pop in and say "thanks!", good job on the posts and journal, and keep it up.

Nice work on grading yourself, I think that's the right way to do it and can greatly help.

Have you learned more about your strengths and weaknesses, and applied some sort of plan or effort towards putting them in play as a result of this thread?

Mike

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Big Mike,

i learn alot about strengths and weaknesses

my major weakness is holding the position more then 3 bars i get very nerves and always second guess my trades , since most of them are counter trades i think its harder but it fit my moto of buying low selling high

as i mention in the last post i am working now on with trend ideas in addition to my setup
and i might use your ideas if thats ok :-) (BTW love your post on your method and advice)

my biggest strengths are drawing the correct trend lines and this help me to get right in profit.

thanks for your help

Ban.

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banbrooke View Post
Big Mike,

i learn alot about strengths and weaknesses

my major weakness is holding the position more then 3 bars i get very nerves and always second guess my trades , since most of them are counter trades i think its harder but it fit my moto of buying low selling high

as i mention in the last post i am working now on with trend ideas in addition to my setup
and i might use your ideas if thats ok :-) (BTW love your post on your method and advice)

my biggest strengths are drawing the correct trend lines and this help me to get right in profit.

thanks for your help

Ban.

Awesome, and good job on trend lines. If you can draw them well then you are better off than most right there.

I can't specifically give advice about CT trading, but I can give advice about fear. Fear is two fold. While you are in a trade, you can face fear of losing (stop), and you can face greed, which is the fear of missing out (bigger target).

It is easy to sometimes say you should ignore your nerves, or your gut, and man up and just do it. Let it ride. See what happens. But, that does not work in trading. You can't take all emotion out. Without emotion, you have no feel for the market.

The trick is to have the experience and with it, wisdom, to know what to do as you start to feel things things in a trade. The best advice I can give is to pick one single thing to work on, and focus on it the entire day or week, then grade yourself on that daily. For instance, let's say you trade 3 contracts and your third is a runner. Maybe you should have your daily focus (and do it for a week, even two weeks) be to let your runner go. Then grade yourself on it each day to see how you did.

But don't just let it go blindly. I think a good way to see the difference in blindly allowing a trade to stay on and not, is to ask yourself this question. "If I take my runner off now, and I post about it in my journal, will I have a good reason to show why I took it off?". In other words, you want to look smart on your journal, right? This added pressure is good. Because it forces you to make the best decision you can make, which is to only take the runner off when it makes sense to do so. It can be taking it off immediately, way ahead of "plan", or letting it go until it reaches a 100 tick target. The right answer is always to do it when it is "best" to do so. This kind of pressure is what you want.

Mike

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Thanks you!!!

i really appreciate your input

Ban.

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"appreciate if you guys can help me find with trend setups (No indicators :-))"

Well, you seem to have some sort of MA and also BBands, right?

Simple rule worth exploring might be:

higher pivot high above the MA = bull;
lower pivot low below the MA = bear.

Or descending trendline upside breakthrough above the MA;
Ascending trendline downside break beneath the MA;

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  #24 (permalink)
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hey guys,

as promised , i have a new setup to trade with the trend setups.
i took Big Mike advice and my friend advice to minimize my counter trend setups and it works very good for me .
i also find out that i am more conferable with the trend trades.

i added a new chart to my system based on Big Mike envelope and also i replaced volume pattern with volume stop (volume stop V4 already include churn bars)

if you like to know more about Big Mike system check out the GREAT thread



so here is my trades

Trade 1: with trend trade
Grade A - Both target filled (second exit at Fib target)

Trade 2: with trend trade
Grade A - Both target filled (second exit at Fib target)

Trade 3:Counter trend trade
Grade A - Both target filled bought on TL break at the low Fib Target

Trade 4: with trend trade
Grade A - Both target filled (second exit at Fib target)

Trade 5: with trend trade
Grade F - My error on DOM took 2 Ticks loss and second target filled

Thank you all

Ban.

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Ban,

Nice job! It looks so simple, but of course its not. Nice way to end the week.

David

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David

its not so hard as well , the hard part for me is keeping the trades on but i am getting better every day.

Ban.

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Its not hard. Hmmm. i wish I felt that way. I'm my own worst enemy.

Staying with the trade is hard, but once you are in profit it should be easier and not more difficult. Don't you think? Since oil is trending down you know you were going the right direction. today you could have trailed just above each 5 minute candle and not been stopped out until the end of the move. Also, since you were trading with the trend you could also set target 2 at a fib extension of the prior swing. In other words, where you entered you second trade on the pullback to the midline you can run a fib extension of that retracement swing. Target could be the 127.2 or 161.8 of that swing. both would have been hit and then some. I know its hindsight, but if you don't see a reason to get out like a trenline break or whatever you look for then don't. Just some thoughts.

How long have you been trading. You have advance in your member info.
David

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I have been trading now for the last 4 years , first year lost alot (15K)
you mention that its easier to stay in a trade while you in profit and i find it harder becouse i want to get out and "bank the money" i find myself very anxious to get out , but i know i will not lose on the trade.

the futures.io (formerly BMT) bands are good for my second target then fib ratios , it look like people respect those level more often

David , how long you been trading?

ban.

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Ban,

I know exactly what you mean about booking the profit. I know its not easy to sit through all the oscillation.

Well, I can't say I've been trading, really. Its more like losing. I've been trying now for 3+ years. I've lost more than 15K on a number of occasions. The reason why I have not been posting is because I've blown out again and don't really know what to do about it. I know I need to correct some things like having a written plan and following the rules. I find myslef breaking rules and then revenge trading and over trading and before you know it I'm down on the day much more than i should be. I started my journal at the suggestion of Mike. It really seemed to help to go through the charts and post them and review them. I then find myself doing the same bad habits like going counter trend because i think I can tell that Prof money came in. Sometimes it turns out to be a good trade, but mostly I lose on those trades. I took a course from the guy and can't get it out of my head and keep doing those trades.

I also had a day job, but got laid off in Oct 2008 and only have had temp positions since then. When I see someone make $1000 trading for not even an hours work I think I should be able to do half that or even $300 of $400 and build up to a day like you had today. Who needs a job. I think I was not treating trading with the respect it deserves and I've paid the price many times over.
Sorry about the ranting.
David

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you seem like you really need help
i like your journal and i think you should continue do this.

if you like maybe i can help you (just support from one trader to another)
my skype is banbrooke1

thanks
Ban

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hey guys ,

per your request here is my settings and templates

thanks
Ban.

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Thks BanBrooke
really appreciate for quick response and posting the template

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glad i can help

Ban

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done .

thanks

Ban.

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hey guys ,

per your request here is my settings and templates

thanks
Ban.

Ban,

Your template says it has VolumestopV4A. I only see VolumestopV4 on the site. No (A) in the name. Do you have the newer version? Also the moving average slope box indicator. Is that one on the site.

Still working on the plan.

David

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David ,

here is the .cs file that i have

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hey guys

today was very choppy but i still managed to get some money

the lesson from today is to look at the angle of the mid line which was positive for the most of the day.

ban.

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banbrooke View Post
hey guys

today was very choppy but i still managed to get some money

the lesson from today is to look at the angle of the mid line which was positive for the most of the day.

ban.

Wow, well done. I like the idea of watching the angle of attack on the MA, nice!

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Banbrooke
Do you mind give the times you entered and exited trades. I am testing 5min as well, so thought can compare. thks

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David ,

here is the .cs file that i have

Ban,

its odd because in the VolumestopV4 that you gave me doesn't have the option of having the HVC bars. Also, I don't seem to be able to turn off the swing dots that appear.

David

Nice day today! Nice job on a choppy day.

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Ban,

its odd because in the VolumestopV4 that you gave me doesn't have the option of having the HVC bars. Also, I don't seem to be able to turn off the swing dots that appear.

David

Nice day today! Nice job on a choppy day.

post #54 and he said use cs file do not use import feature, keep in mind the is a mod on my indicator V4, it may not be compatible with my latest V4, caveat emptor.

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Ben harrel

I read you journal and i noticed you switch to this system too (great decision)

i am using MA Slope indicator and run the 45EMA angle to know what is the angle of the mid line until we get the new version from Big Mike

here is my indicator

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Emini HG,

this is Central time (i am from Dallas TX)

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banbrooke View Post
Ben harrel

I read you journal and i noticed you switch to this system too (great decision)

i am using MA Slope indicator and run the 45EMA angle to know what is the angle of the mid line until we get the new version from Big Mike

here is my indicator

Here is the slope indicator with the futures.io (formerly BMT) Collective Moving Average added to it.
Hope it helps.
Regards

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Vast , thank you so much for your effort
i tried to install and this is what i am getting

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Hi Ban,

Good going.

What is your stop loss level on these trend trades and how do you manage BE and scratch.

Also is your first profit target 10?

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Thanks Steve

my ATM is 20T stop loss
1Target 10T second 20T i will be looking at PA to see if to move 1st target but most of the
time i will move to B/E after first target

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Vast , thank you so much for your effort
i tried to install and this is what i am getting

you are missing futures.io (formerly BMT) collective MA install it first, it is near bottom page
https://futures.io/free_downloads/vip_elite_circle/page-1.html&page=3

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Cory ,

i do have this installed , is it working for you?

ban.

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Got same error message, and I have the collective MA already...

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cory View Post
you are missing futures.io (formerly BMT) collective MA install it first, it is near bottom page
https://futures.io/free_downloads/vip_elite_circle/page-1.html&page=3

cory,

I've had futures.io (formerly BMT)CollectiveMA installed since it was made available, but when I compiled this new MASlopeBoxMulti_BMA, I got the same error messages as banbrooke.

Lolu

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until Mike fixs it I will just substitude EMA with collective one, here it is, so if you want EMA just use the original one.

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Thanks Cory.
Sorry traders if I have caused issues.
I have no idea why you are getting a compiling error.
I have not changed the original futures.io (formerly BMT)Collective name. I have just referred to the original name.
I hope that Cory's version works.
I have turned the MA paint to transparent as I have the MA as part of the Expansion indicator.

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Hey guys,

today i execute very badly since my first trade was down 400
second trade was Volume pattern Counter Trend which works very nicely , but after that i was making bad mistake on the DOM moving my stop too fast to B/E on the first CT

i need a day vacation from trading so no trading for me tomorrow

here is my trades

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I've had futures.io (formerly BMT)CollectiveMA installed since it was made available, but when I compiled this new MASlopeBoxMulti_BMA, I got the same error messages as banbrooke.

Hey Lolu, Ben, Cory and Vast,

The MASlopeBoxMulti indicator is missing a reference to the futures.io (formerly BMT)CollectiveMA indicator. I added the missing reference. Copy this indicator into the \Documents\NinjaTrader 6.5\bin\Custom\Indicator directory and recompile it. Everything should work.

-Rich

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jonesr9,

thank you so much for this , it working.
can you please tell me do we need to change the period of the MA?

thanks

ban.

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  #57 (permalink)
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Ban
The futures.io (formerly BMT) Collective cannot be adjusted. It is made up of multiple Moving Averages.
Just use it as it is.
Thanks also Rich. Will have a look at your changes. My original version compiled fine, so I am still a bit puzzled.
I had added the futures.io (formerly BMT) to the public enum and the switch. Whereas I see you only added it to the Public Enum. Not sure why this would cause the fix.
Regards

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Hey Lolu, Ben, Cory and Vast,

The MASlopeBoxMulti indicator is missing a reference to the futures.io (formerly BMT)CollectiveMA indicator. I added the missing reference. Copy this indicator into the \Documents\NinjaTrader 6.5\bin\Custom\Indicator directory and recompile it. Everything should work.

-Rich

jonesr,

This will over-write my old MASlopeBoxMulti which I've had on my Ninja for a long time now. I want to retain my old MASlopeBoxMulti. So, can you give your version a new name (e. g. MASlopeBoxMulti_futures.io (formerly BMT) or MASlopeBoxMulti_BMA) ?

Lolu

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Lolu, all that has happened is that there is now another MA in the drop down list. That is all.
It does not effect the operation of the original.

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Hey guys,

All I added was a one liner. I attached a picture of the change. If you want, you can edit your own MASlopeBoxMulti indicator and make the change.

-Rich

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Hey guys,

All I added was a one liner. I attached a picture of the change. If you want, you can edit your own MASlopeBoxMulti indicator and make the change.

-Rich

jonesr,

But the Switch doesn't have the futures.io (formerly BMT)CollectiveMA option, so there is really NO futures.io (formerly BMT)CollectiveMA in this indy.

Lolu

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lolu View Post
jonesr,

But the Switch doesn't have the futures.io (formerly BMT)CollectiveMA option, so there is really NO futures.io (formerly BMT)CollectiveMA in this indy.

Lolu

Ahhhh, that makes sense. Write down your settings of your current MASlopeBoxMulti indicator. Download the one (a few posts back) with the new changes, compile it, and add it to your chart, change the settings to the ones you wrote down, click apply or click ok. You sould be good to go.

fyi - I was thinking that you still had the other indicator in place. My bad. Sorry about that.


-Rich

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Hey guys ,

i know i said i will not trade today , but i did
i took less trades and was more careful on my DOM

i took 2 trades today which was counter trades and the rest was with the trend
as i mention yesterday the angle of the 34EMA (like the futures.io (formerly BMT) collection MA) give a good signal when price trade near the midline

thanks guys

ban.

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Hey guys ,

i know i said i will not trade today , but i did
i took less trades and was more careful on my DOM

i took 2 trades today which was counter trades and the rest was with the trend
as i mention yesterday the angle of the 34EMA (like the futures.io (formerly BMT) collection MA) give a good signal when price trade near the midline

thanks guys

ban.

Hi Ban,

Great result.

But I did notice some difference with your price bars to mine. See my attached pic (ignore the indicators). My times are ET. You seem to be missing a bar around 10.30/10.35 (9.30/9.35 per your chart). This possibly would have made a difference to how you drew the trendline. Big Mike's chart is the same as mine - link:

Also I noticed the 9.00 (8.00 your time) bar is the wrong colour - it closed down.

Finally your mid band MA is quite different to Big Mike's (and mine - although I am just using 34EMA).

No big deal, but just want to make sure you are not trading off bum data (or maybe Mike and me are - lol).

Steve

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thanks Steve

i reload my historical data look a bit diff , i have some data issues also yesterday but AMP said they fix that (some issues with Zen file and Ninja)

ban

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hey guys,

today i wasn't in the zone , made more emotional mistakes moving my stops too fast in the chop zone i wasn't sure if i am on the right side of the trade , i over traded today and will try to minimize my trades
maybe i will start trading 4 contract (still going to keep 2lots ATM) and reach target soon


so here is my trades

Trade 1: with trend trade
Grade A - Both targets filled (second exit at Fib target)

Trade 2: with trend trade
Grade A - Both targets filled , i noticed the trend change and the angle of the Mid line

Trade 3: with trend trade
Grade A - STOPOUT!, (still grading my self A , i follow the plan)

Trade 4: with trend trade
Grade A - Both targets filled (second exit at Fib target)

Trade 5: Counter trend trade
Grade A- Both targets filled (volume churn and reversal candle)

Trade 6: with trend trade
Grade F - STOPOUT!, (was too quick to enter)

Trade 7: with trend trade
Grade A- Both targets filled (learn my lesson from trade 6 )

Trade 8: with trend trade
Grade A - Both targets filled

Trade 9: with trend trade
Grade F - STOPOUT!, (was too quick to enter - lost my lesson very quick)

Trade 10: with trend trade
Grade A - Both targets filled (trend reversal took small targets)

Trade 11: with trend trade
Grade A - Both targets filled (trend reversal took small targets)

Trade 12: with trend trade
Grade A - Both targets filled (trend reversal took small targets due to market close)



Thank you all

Ban.

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banbrooke View Post
hey guys,

today i wasn't in the zone , made more emotional mistakes moving my stops too fast in the chop zone i wasn't sure if i am on the right side of the trade , i over traded today and will try to minimize my trades
maybe i will start trading 4 contract (still going to keep 2lots ATM) and reach target soon


so here is my trades

Trade 1: with trend trade
Grade A - Both targets filled (second exit at Fib target)

Trade 2: with trend trade
Grade A - Both targets filled , i noticed the trend change and the angle of the Mid line

Trade 3: with trend trade
Grade A - STOPOUT!, (still grading my self A , i follow the plan)

Trade 4: with trend trade
Grade A - Both targets filled (second exit at Fib target)

Trade 5: Counter trend trade
Grade A- Both targets filled (volume churn and reversal candle)

Trade 6: with trend trade
Grade F - STOPOUT!, (was too quick to enter)

Trade 7: with trend trade
Grade A- Both targets filled (learn my lesson from trade 6 )

Trade 8: with trend trade
Grade A - Both targets filled

Trade 9: with trend trade
Grade F - STOPOUT!, (was too quick to enter - lost my lesson very quick)

Trade 10: with trend trade
Grade A - Both targets filled (trend reversal took small targets)

Trade 11: with trend trade
Grade A - Both targets filled (trend reversal took small targets)

Trade 12: with trend trade
Grade A - Both targets filled (trend reversal took small targets due to market close)



Thank you all

Ban.

Hi Ban,

Can you post a chart picture with the trade markers on.

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here is my chart

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Good job Ban, keep it up.

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hey ,

today i think its my best day ever , i switch to 4CT still 2lots of 2 and 2 and same targets

all grades A .


the gap fill today was a big help , i did buy the first pullback to the mid line but PA on the second pullback looked to me that we are going to fill the gap

Grate day , i think i need a vacation!!!

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WTG! Great job!

Now keep it up, slowly but surely...

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Thank mike ,

Really appreciate your inputs and all the great information and videos on the site.

Thanks

Ban.

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WTG Ban, really nice job.

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Ban,

Really nice Job! Not only a great day, but a great week.

I don't think you need it, but I put some Market Profile info, as I know it, on this thread



It gives a good indication of areas of support and resistance which can also provide good trade location and even increase profit targets. IMHO. FWIW.

David

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Ban
Well done on today and this week. It must be the futures.io (formerly BMT) Collective slope indicator. lol
I was wondering how you use the Volume Stop indicator? Well I think that is what is in panel2.
Also, just wondering about your 2nd trade that was a long. Was that based solely on a bounce of the futures.io (formerly BMT)?
You have done really well and it seems the 5min chart suits you.
I am trying to see if I can trade it and what to look for to get my entries.
Well done

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Vast.

The futures.io (formerly BMT) Collective slope indicator is great it help you to stay on the right side of the trend
my trading is not based only on that only i use price action to confirm my trades

i use the futures.io (formerly BMT) Collective slope in a setup called rubber band which is when slop of the MA is flat price always retrace to the MA a good example is the 20EMA on 5 Min chart but in Oil it looks like the "Magic EMA" is 34 and i learn this from BigMike , (i use to trade ES before and the 20EMA was my line in the sand)

as for the second trade - from my experience (and you can look at historical data) first test to the EMA almost always works , so its a very low risk trade for me but target need to be close.

and if you look at the next test to the EMA it failed and i didn't take it i actually had a buy stop above the EMA in case it will work but i never got filled and then i realize that we are going to fill up the gap.

as for the volume stop, i use the churn bars only to counter trend you can see more details on the first page of this journal

thanks
Ban

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Hi Ban,

Couple of operational questions:

1/ When you enter trades do you use; Buy/Sell Stop or Buy/Sell Stop Limit or Buy Bid/Sell Ask or Market orders?

2/ When you talked on Friday about the Gap being closed, what do define as the gap: is it from yesterday's cash/pit close (14.30 ET), yesterday's exchange close (17.15 ET), or midnight?

3/ For your MA Slope indicator, why did you pick a period of 45 to calculate the slope. Why not 34 being the period of your EMA?

Thanks as always for your responses.

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Steve ,

1.i always use buy /sell stops orders if i am missing trades i will go market
2. for gaps i use 5Min chart with no indicators and i setup the time for pit time 8:00AM - 1:30PM CST

3. the 45 Ema in the template is wrong i do use 34 EMA to see the slope . ( i was playing around with the MA slope indicator and i miss that when i publish my template)

ben.

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Hey Ban, or is it Ben

Congrats on becoming a moderator.

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its ben

and thank you!

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Ben,

Congrats on the Moderator position.

I've been writing your name as Ban. Sorry.

David

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Thanks Ben
Congratulations on the upgrade.
Hope your day today went well.
Regards

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Hey guys ,

Here is my trades from today:

Trade1 : Counter Trend Setup (churn bars) Grade A

DID NOT in front of the news

Trade 2: Counter Trend Setup (churn bars) Grade A

Trade 3,4:With the trend Trade (futures.io (formerly BMT) Bands) Garde A

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Congrats on Moderating etc.

100%. Always good! Very clear chart and very much in line with BMike approach. Thxs.

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Ben,

Nice job Ben!

One question. I thought on the counter trend trades you wait for a bar to close above/below the trend line. Is that true or not necessary?

Also, what is the settings for you bands? Mine look different based on the pic I posted on Mikes page.

David

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David
some time i wait for the bar close and some time i dont ,it depend on PA (S/R,Volume)
in todays case you can see that we had Volume support.

as for the futures.io (formerly BMT) bands , i just reloaded my historical data and it looks the same

what setting do you use?

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here is my setup

yours look way diff

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Ben
You are killing the market.
Well done. Thanks for sharing. The 5min really seems to suit you well.
A bit too scary for me at present though
Regards

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thanks vast

BTW do your bands look diff then mine?

ben

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Vast ,

if you still like to use indicators you can combine jeff dots (i put this indicator because of your post on jeff dots in the AYN thread )

and maybe you will get more confidence in the setup

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benbrooke View Post
here is my setup

yours look way diff


I can see a difference already. You have DEV set to none and I think I have that at ATR. I thought the method and MA were the same. I need to confirm. Thanks.

David

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Vast ,

if you still like to use indicators you can combine jeff dots (i put this indicator because of your post on jeff dots in the AYN thread )

and maybe you will get more confidence in the setup


The jeffs dots look nice.

D

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Hey Lolu, Ben, Cory and Vast,

The MASlopeBoxMulti indicator is missing a reference to the futures.io (formerly BMT)CollectiveMA indicator. I added the missing reference. Copy this indicator into the \Documents\NinjaTrader 6.5\bin\Custom\Indicator directory and recompile it. Everything should work.

-Rich

Ben et al: just catching up with your excellent thread here. Downloade the above BoxMulti with reference added, but it is not in the MA Case section. I added in

case SlopeBoxMultiAverageType.futures.io (formerly BMT)CollectiveMA:
Plot0.Set(futures.io (formerly BMT)CollectiveMA()[0]);
NTSeries.Set((180/Math.PI) *(Math.Atan(Slope(futures.io (formerly BMT)CollectiveMA(),1,0))));
break;

Rightly or wrongly. But it did change the output. So maybe somebody skilled in programming should check all this. Or maybe you have solved the problem elsewhere in the thread in which case apologies for any confusion.

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Remember CollectiveMA is VIP only, but without giving away that code, here is what I use for Slope in mine. It shows the slope of the last 3 bars, and colors them based on the average. You've probably seen it on my charts.

I'll include this in the new version of CollectiveMA that I will upload when I upload the new version of the Env Exp Fib Bands.

 
Code
                            
Plot0.Set(collective[0]);
            
            
double radToDegrees 180/Math.PI;
            
            
double _slope0        = (int)(radToDegrees*(Math.Atan((collective[0]-(collective[1]+collective[2])/2)/1.5/TickSize)));
            
double _slope1        = (int)(radToDegrees*(Math.Atan((collective[1]-(collective[2]+collective[3])/2)/1.5/TickSize)));
            
double _slope2        = (int)(radToDegrees*(Math.Atan((collective[2]-(collective[3]+collective[4])/2)/1.5/TickSize)));
            
            
slope.Set(_slope0);
            
            
Color slopecolor    = ((_slope0 _slope1 _slope2) / Color.DodgerBlue Color.Crimson);
            
DrawOnPricePanel    false;
            
DrawTextFixed("Slope""CMA Slope:\n0 = " _slope0.ToString("0") + "\n1 = " _slope1.ToString("0") + "\n2 = " _slope2.ToString("0") + ""TextPosition.BottomRightslopecolor, new Font("Tahoma"8), Color.Empty, Color.Empty, 10); 
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Thank mike ,
i have no clue how to use it so i will wait for your new version

thanks again.

ben

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Thank mike ,
i have no clue how to use it so i will wait for your new version

thanks again.

ben

Ben, just like me. That stuff looks like a foreign language. I guess it is.

D

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I am also taken with this slope thingy (I heard it can foretell the future) so I digged out the slope code, the funny thing is that after all said and done it looks just like Mike's histogram

search word: MASlopeLine, Slope histogram

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Cory ,

first i like to thanks you for your indicator.
i wish this indicator can foretell the future but its not

here is how i like to use it

when the angle is still up and price is near the futures.io (formerly BMT) MA i will be buyer and vice versa
but its really helpful in spikes and then i fade moves

here is an example

ben

Keep on sowing your seed, for you never know which will grow -- perhaps it all will.

-- Albert Einstein
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  #99 (permalink)
the coin hunter
virginia
 
Experience: Intermediate
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benbrooke View Post
Cory ,

first i like to thanks you for your indicator.
i wish this indicator can foretell the future but its not

here is how i like to use it

when the angle is still up and price is near the futures.io (formerly BMT) MA i will be buyer and vice versa
but its really helpful in spikes and then i fade moves

here is an example

ben

glad you like it, there is only one thing diff from Mike's histogram is the slope box.

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  #100 (permalink)
Australia
 
Experience: Intermediate
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benbrooke View Post
thanks vast

BTW do your bands look diff then mine?

ben

Here is my chart. I am on EST.
I have my bands set to my own setting. I have made Option4 = 21%, 38.2% and 61.8%.
It seems to be closer to Mikes.
I changed the settings in the code. Lines 193 to 197.

Thanks for the ideas. Will have a look at the dots.
Regards

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