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Great thread. I suggest you try the DMPlus_V3a instead of the V3 which you use. The V3a plots back ground colours which I find helps to see if the DI is long or short.
The following user says Thank You to Alan for this post:
Morning: 2 trades (1 Long and 1 Short - both winners) 14 ticks
Afternoon: 1 trade (Long - baby winner) 3 ticks
Total 17 ticks before commission.
Note: The afternoon trade met all entry rules EXCEPT taking the "CHOP" warning lightly! Glad that I closed them with 2 and 1 ticks respectively. Actually, "SOH when CHOP warning is on" is now one of the trading rules. I may miss some great trades yet it's better to respect the CHOP warning until I'm more experienced.
Thanks Cory. I second your suggestion and just said "bye bye" to MACDBB.
Next indicator to be removed: DMplus_v3(5) the new comer (3 colored lines). I need it as a temporary safety blanket until my eyes/head are trained to acknowledge the Top Text label (incl End of Trend I remember).
Favorite Futures: Index,Currency and Energy futures
Posts: 1,705 since Jan 2010
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CHOP is when the ADX is BELOW BOTH DM+ line. Now when you have a good setup and all the your indicators are in line, but your get a CHOP signal, i.e. ADX below the DM+ lines, look at the ADX line (Yellow), and if it is turning UP you can take the trade, even if it is still below the DM+ lines.
The following user says Thank You to perryg for this post:
One more trade! Perry maybe proud of me .. smile ..
I had a Sell Stop waiting which was filled when I was preparing the earlier posts. It's a profitable trade and 6 more ticks to the daily total, ie 23 ticks.
Note: For real life, I don't think I will trade after 3:15 pm.
I am doing my very best to get comfy with the set up and signals. Today is my Lucky day.
Almost forgot to address my emotion: No stress .. No sweat .. No numbed fingers .. 100% normal. Hmm, not sure if it's because they're all sim trades! Time will tell .. smile ..
Trade Signals: A of course. I will only take A-grade trades LOL!
I am knocking at Perry's door for some guidance. Upon his positive response esp the trading time, I will continue doing more Market Replay practice. 6E could be a middle candidate between CL and ES for me. You can tell from the trade log that they averaged around 2-3 minutes.
Luck is with me today .. best wishes from Big Mike, David R and You!!
