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THREE SET UPS
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Created: by Jeff Castille Attachments:243

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THREE SET UPS

  #211 (permalink)
 Vendor: www.probabletrades.com 
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shodson's Avatar
 
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Weekend Homework

In addition to these setups I'm going to be doing some homework on different MM strategies. I'm not totally comfortable just using the other side of a signal bar as my stop loss level yet having fixed target levels.

Take an inside bar for example. It may be only 6 ticks tall in a very volatile market. Or it may be 30 ticks tall following a 32 tick tall bar that previously had very low volatility. Scalping +8/16 could provide unwieldy volatility in your equity curve. I'm going to research using for both profit targets and stop losses the average of the ATR plus a bar's range. Put more precisely:

 
Code
double stopLoss = (ATR(5)[0] + Range()[0]) / 2;
double target1 = stopLoss;
double target2 = 2 * stopLoss;
Averaging ATR and the bar's range for both stops and targets could make the risk/reward of each trade more balanced, but hopefully not at the expense of overall profitability.

Here's another idea I've been researching. I call it the "top of the hour breakout" trade. I'm sure I'm not the first to think of this.

Tip
Treat every :05 print as a breakout range, go with the breakout. At the top of the hour every M5, M15, M30 and M60 trader helps the market decide where it goes next. Looks like you can usually follow the breakout of that bar for some profits.



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  #212 (permalink)
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shodson View Post
In addition to these setups I'm going to be doing some homework on different MM strategies. I'm not totally comfortable just using the other side of a signal bar as my stop loss level but having fixed prices.

Take an inside bar for example. It may be only 6 ticks tall in a very volatile market. Or it may be 30 ticks tall following a 32 tick tall bar that previously had very low volatility. Scalping +8/16 could provide unwieldy volatility in your equity curve. I'm going to research using for both profit targets and stop losses the average of the ATR plus a bar's range. Put more precisely:

 
Code
double stopLoss = (ATR(5)[0] + Range()[0]) / 2;
double target1 = stopLoss;
double target2 = 2 * stopLoss;
Averaging ATR and the bar's range for both stops and targets could make the risk/reward of each trade more balanced, but hopefully not at the expense of overall profitability.

Here's another idea I've been researching. I call it the "top of the hour breakout" trade. I'm sure I'm not the first to think of this.

Treat every :05 print as a breakout range, go with the breakout. At the top of the hour every M5, M15, M30 and M60 trader helps the market decide where it goes next. Looks like you can usually follow the breakout of that bar for some profits.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Hey Shodson,

Two great ideas.......I did some work on the first 5 minute thing in the "All You Need" thread.

Another idea as far as stops go........I was wondering if we could incorporate the 15 minute signals WITH a 5 minute chart to show us when a trade was turning against us? Thoughts?

Jeff

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  #213 (permalink)
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Jeff,

Did you test this 3 setup strategy on a 5 or 10 minute chart?
If so, just curious what you found.

Todd

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  #214 (permalink)
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Todd View Post
Jeff,

Did you test this 3 setup strategy on a 5 or 10 minute chart?
If so, just curious what you found.

Todd

Hi Todd,

I didn't really "test" anything........just made some observations and went from there. I continually look to see how other time frames perform and it seems that the 15 minute is working the best.

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  #215 (permalink)
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Time lines

Hey Shodson,

Here is a time line indicator that might help you in your first 5 min.....top of the hour.....investigation.

Thanks to Zeller for this indi. You can have it paint a line on your chart however many minutes you want.

Attached Files
Register to download File Type: cs TimeLines_v01.cs (9.8 KB, 56 views)
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  #216 (permalink)
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cunparis View Post
It ended up pulling back -6 and then hit the +16 target.

Here's my idea: trade 1 contract. When it gets +8 move stop to -8 and go for 16. I'll see if I can do some stats on this to see how it compares.

I am testing something similar to this.....when it moves certain ticks (Target1) in your favor reduce stop to b/e trade (entry less Target1)....worst case no gain, but you allow more room to move......and I believe Target 2 must be greater to offset the full stops that you may have....

GT
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  #217 (permalink)
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shodson View Post
In addition to these setups I'm going to be doing some homework on different MM strategies. I'm not totally comfortable just using the other side of a signal bar as my stop loss level yet having fixed target levels.

Take an inside bar for example. It may be only 6 ticks tall in a very volatile market. Or it may be 30 ticks tall following a 32 tick tall bar that previously had very low volatility. Scalping +8/16 could provide unwieldy volatility in your equity curve. I'm going to research using for both profit targets and stop losses the average of the ATR plus a bar's range. Put more precisely:

 
Code
double stopLoss = (ATR(5)[0] + Range()[0]) / 2;
double target1 = stopLoss;
double target2 = 2 * stopLoss;
Averaging ATR and the bar's range for both stops and targets could make the risk/reward of each trade more balanced, but hopefully not at the expense of overall profitability.

Here's another idea I've been researching. I call it the "top of the hour breakout" trade. I'm sure I'm not the first to think of this.

Tip
Treat every :05 print as a breakout range, go with the breakout. At the top of the hour every M5, M15, M30 and M60 trader helps the market decide where it goes next. Looks like you can usually follow the breakout of that bar for some profits.



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Shodson I don't know how u plan to test this but an idea, also according to Cunparis comments, may be to enter 1 ct on entry and 1 ct on a 50%/75% adverse excursion....so the cost of a full stop is reduced, there is room for a pullback after entry, which if deep enough could play in our favor......target for the second could be the entry point, and target for the first ct stop size......

GT
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  #218 (permalink)
 Vendor: www.ezcolortrading.com 
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I've been trying almost the whole day to add a code to the indicator so that the High and Low of the yellow bar will be displayed on the chart upon its formation. No luck yet as I am not a programming person .. sigh ..

Will some of you have a sample code that may give me some tips on how to do this? I communicated with NJ Customer Service back-and-forth and the suggested samples/links do not help. It's me ..

Thank You!

Beth

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  #219 (permalink)
Elite Member
Northern California
 
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shodson View Post
In addition to these setups I'm going to be doing some homework on different MM strategies. I'm not totally comfortable just using the other side of a signal bar as my stop loss level yet having fixed target levels.

Take an inside bar for example. It may be only 6 ticks tall in a very volatile market. Or it may be 30 ticks tall following a 32 tick tall bar that previously had very low volatility. Scalping +8/16 could provide unwieldy volatility in your equity curve. I'm going to research using for both profit targets and stop losses the average of the ATR plus a bar's range. Put more precisely:

 
Code
double stopLoss = (ATR(5)[0] + Range()[0]) / 2;
double target1 = stopLoss;
double target2 = 2 * stopLoss;
Averaging ATR and the bar's range for both stops and targets could make the risk/reward of each trade more balanced, but hopefully not at the expense of overall profitability.

Here's another idea I've been researching. I call it the "top of the hour breakout" trade. I'm sure I'm not the first to think of this.

Tip
Treat every :05 print as a breakout range, go with the breakout. At the top of the hour every M5, M15, M30 and M60 trader helps the market decide where it goes next. Looks like you can usually follow the breakout of that bar for some profits.



Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


wgreenie View Post
I've been trying almost the whole day to add a code to the indicator so that the High and Low of the yellow bar will be displayed on the chart upon its formation. No luck yet as I am not a programming person .. sigh ..

Will some of you have a sample code that may give me some tips on how to do this? I communicated with NJ Customer Service back-and-forth and the suggested samples/links do not help. It's me ..

Thank You!

Beth

Hi Beth,

Did you see the indicator that Shodson created for GT? I'll attach......maybe it will help.

Attached Files
Register to download File Type: cs shHiLowPrinter.cs (6.0 KB, 66 views)
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The following user says Thank You to Jeff Castille for this post:
 
  #220 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Zen-Fire
Favorite Futures: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,196 received



Jeff Castille View Post
Hi Beth,

Did you see the indicator that Shodson created for GT? I'll attach......maybe it will help.

Thanks Jeff for answering my sos so swiftly (as always).

I'm semi-successful at this point. Actually it delivers more than I expected LOL (per enclosed). Hmm, I will look at the code again over the weekend when I may have a clearer mind. Wish me luck!

Beth (grateful)

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THREE SET UPS-cl-08-10-6_25_2010-15-min-.jpg  
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