(If you already have an account, login at the top of the page)
futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.
At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.
With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.
We are fundamentally different than most other trading sites:
We are here to help. Just let us know what you need.
We work extremely hard to keep things positive in our community.
We do not tolerate rude behavior, trolling, or vendors advertising in posts.
We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
We expect our members to participate and become a part of the community. Help yourself by helping others.
You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple.
I've been considering doing one target and just trailing the stop a bit. The problem I have with 2 targets is I'm risking 30 ticks on the first target that will only give me 8.
I took two trades today. One was a reversal bar and I stopped out. Figures my first trade with real money would be one that stops out. From now on I don't plan to take reversal bars. There are enough setups with inside & outside.
Took an inside bar that was also reversal bar (there were 3 reversal bars in a row so that was pretty good setup) and got +8 + 24.
-$380 total for me
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).
the way I see it, the first trade does not qualify as a valid reversal bar. you would need a bearish reversal bar after a move up. (open and close on the lower end of a red candle) the first trade would have been the big red candle (outside bar). that is a perfect setup and a winner as well.
The following 3 users say Thank You to Silvester17 for this post:
Some traders are NOT interperting the reversal bar correctly..........(see post #1)
First off.........the magenta bar on the reversals V6 indicator should be called something like..."WICK SIZE MEASURE" A magenta bar is NOT a trade signal !!!! It is just ONE of three criteria that must be met to constitute a reversal.
So.....let's define a reversal bar again........
#1 IT MUST COME AT THE END OF A MOVE (UP OR DOWN)
#2 IT MUST HAVE HIGHER VOLUME
#3 THE WICK MUST BE 2/3+- OF THE ENTIRE CANDLE
Just two trades this morning +33
Jeff
Last edited by Jeff Castille; June 22nd, 2010 at 12:53 PM.
The following 10 users say Thank You to Jeff Castille for this post:
You're right. I was trading off a chart that had OHLC bars and it wasn't as obvious as a big green candle that it wasn't reversal. Thanks. I also missed the outside bar cause I was in an ES trade.
Here's a good example of a reversal bar..........at the end of a down move we get a bar that exhibits the proper characteristics (2/3 +- bar for lower wick) on higher volume (higher volume relative to surrounding bars)
The following 2 users say Thank You to Jeff Castille for this post:
Thanks for pointing out my reversal bar error (you & silvester). Without that I would have made money. A very costly mistake. I'm going to pay more attention tomorrow.
The shPriceActionHero draws the lines in real time but work best OnBarClose. I'm still trying to decide the best way to use it. I like your addition of volume in the mix.
