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THREE SET UPS


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THREE SET UPS

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  #661 (permalink)
 cunparis 
Paris, France
 
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wgreenie View Post
Instead of a Buy Stop, I placed a Sell Stop at 94. Waiting for it to become an Outside Bar LOL!

Beth

Why did you not take the long?

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  #662 (permalink)
 Jeff Castille 
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At this point I see NO advantage trying to differentiate between "good" and "bad" inside bars.

Just load the new indicator on a chart a see all the perfectly good inside bar trades that you would have missed.

Most of the losses that I see on inside bar trades are come from terrible money management and trading during "bad" times of day........I think time would be better spent noting WHEN a trade fails......is it at the index open, on options expiration day, low volume times of day ?????? etc.

Notice the great inside bar trade that Beth missed today because of a supposed "bad" inside bar.

So far.......I'm not buying it..........please SHOW me if you think that I am wrong.

Thanks, Jeff

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  #663 (permalink)
Panda
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This is a very nice and properly simple strategy that is looking very profitable! Congrats and thanks.

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  #664 (permalink)
 tickvix 
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Cunparis when able would you please point out when did you enter your trade. I had the same trade I think and got stopped out. So just to make sure I would not do the same mstake on my entry. Thank you in advance for your help

TV/Gregory

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  #665 (permalink)
 cunparis 
Paris, France
 
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tickvix View Post
Cunparis when able would you please point out when did you enter your trade. I had the same trade I think and got stopped out. So just to make sure I would not do the same mstake on my entry. Thank you in advance for your help

TV/Gregory

You must be talking about the first one because the 2nd was a sure winner.

The first one went about 16 ticks maybe I'm not sure how many (don't have ninja up, it keeps crashing). I got out early at +11.

What is your profit target(s) and are you trailing a stop or using a breakeven stop?

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  #666 (permalink)
 tickvix 
USA
 
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I use 8 pips first target and as much as I can on 2nd. with low of the bar stop. I try not to take trades if bar is more then 16 pips long. If longer but I like set up I'll go wih one contract. If market is going my way I would move stop +4 after first is out. If continue to go my way I would move brkevn and then would let it go with moving my stop every 5 min to the low of the 5 min bar if long and high of the bar if short.
Since my goal is to get $160.00 on any trade I would keep moving my stop till get stopped out.
BTW I like to trade at defined levels such as MML, or High, Low of the day etc..
Could u pls just tell me when did u enter your trade at what time. THank you for your help!!!

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  #667 (permalink)
 cunparis 
Paris, France
 
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tickvix View Post
I use 8 pips first target and as much as I can on 2nd. with low of the bar stop. I try not to take trades if bar is more then 16 pips long. If longer but I like set up I'll go wih one contract. If market is going my way I would move stop +4 after first is out. If continue to go my way I would move brkevn and then would let it go with moving my stop every 5 min to the low of the 5 min bar if long and high of the bar if short.
Since my goal is to get $160.00 on any trade I would keep moving my stop till get stopped out.
BTW I like to trade at defined levels such as MML, or High, Low of the day etc..
Could u pls just tell me when did u enter your trade at what time. THank you for your help!!!

I didn't realize you wanted to know the exact time, sorry.

My timezone is 6 hours ahead of new york.


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  #668 (permalink)
 tickvix 
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Great thank you!!!! I was early and you on time. Learning is great.

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  #669 (permalink)
 joed 
paramus, nj
 
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anyone have an answer to an age old question..... why is it so difficult to scalp and grab 8 or 10 ticks in your trade... but if your wrong and dont have a stop your loses grow beyond belief in a matter of minutes,,,??

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  #670 (permalink)
 aviat72 
San Francisco Bay Area
 
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shodson View Post
I created an IB indicator that paints the bar black if it's a "good" IB and orange if it's a "bad" IB

A good IB is

- inside a Keltner
- NR4
- the range is < ATR(14)

We can debate or modify what we think a good IB is or not, but this is a start.

You can modify the settings on the Keltner, the NR look back, and the ATR period. If you want to ignore any of these criteria then set their related parameters to 0 and the rule will be ignored. If you are filtering for Keltner channels it will draw the channel for you.

I also added a "GoodBar" DataSeries so if you want to trade good IBs in a strat on bar close look for

shodson:

I think your Keltner channels are based on RTH data. Even if you want to just trade the RTH, it would be useful to use ETH data for Keltner channels. CL especially is active pre-market during the European session and hence gaps are very common. Currently, on any gap day, the Keltner criterion is likely result in bad IBs.

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