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THREE SET UPS


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THREE SET UPS

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  #951 (permalink)
 futurestrader1 
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Thank you Jeff....I haven't seen much activity on this thread from the past while...are you still on this method and system...if not then what do you think of it's long-term profitability as a main strategy or you using something better?

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  #952 (permalink)
 Jeff Castille 
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futurestrader1 View Post
Thank you Jeff....I haven't seen much activity on this thread from the past while...are you still on this method and system...if not then what do you think of it's long-term profitability as a main strategy or you using something better?

Hey futurestrader,

I am always looking for something better......that's part of my job......

I still keep an eye on the 15 minute chart.......I still like the inside bars........got two winners today.

The outside bars typically have more risk associated with them and the reversal bars on a 15 minute chart are rare so I am not so hot on these....

Jeff

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  #953 (permalink)
mystiq
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Jeff Castille View Post
Hey futurestrader,

I am always looking for something better......that's part of my job......

I still keep an eye on the 15 minute chart.......I still like the inside bars........got two winners today.

The outside bars typically have more risk associated with them and the reversal bars on a 15 minute chart are rare so I am not so hot on these....

Jeff


!what do you think about using the "most recent" inside bar's HIGH+.10 and LOW-.10 as the threshold for the trigger to enter a trade?

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  #954 (permalink)
 thatguy 
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mystiq View Post
!what do you think about using the "most recent" inside bar's HIGH+.10 and LOW-.10 as the threshold for the trigger to enter a trade?

What did you find with regards to that? Do you find that it helps?

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  #955 (permalink)
 Joules360 
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Jeff:

I like the inside bar trades as well. However, it seems as though there is too much "HEAT" on the 15 minute chart. How do you feel about the 5 minute chart and its signals? I have also found that setting the trade at 3 ticks past the trigger seems to be safer as the "Big Boys" know this technique and seem to trigger the breakout by a tick or 2 and then reverse and take all those traders into a stop the other way.

Any thoughts?

Thanks,

Joules360



Jeff Castille View Post
Hey futurestrader,

I am always looking for something better......that's part of my job......

I still keep an eye on the 15 minute chart.......I still like the inside bars........got two winners today.

The outside bars typically have more risk associated with them and the reversal bars on a 15 minute chart are rare so I am not so hot on these....

Jeff


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  #956 (permalink)
 PandaWarrior 
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Joules360 View Post
Jeff:

I like the inside bar trades as well. However, it seems as though there is too much "HEAT" on the 15 minute chart. How do you feel about the 5 minute chart and its signals? I have also found that setting the trade at 3 ticks past the trigger seems to be safer as the "Big Boys" know this technique and seem to trigger the breakout by a tick or 2 and then reverse and take all those traders into a stop the other way.

Any thoughts?

Thanks,

Joules360


I'm not Jeff but I think the key is to trade in the direction of the trend....most of the time, the inside bars seem to occur around areas of consolidation at the end of a pull back or at the beginning of one. If there has been a pull back and you get an inside bar, then perhaps wait to see if there is a second "break" of the IB, if so, this is the one to take in the trend direction.

The other idea I have been looking at is putting the stop behind the bar preceeding the IB. If this stop is to big, reduce the size until the dollar amount of the risk is in line and if that is still to big, don't take the trade.

Not saying these are the answers, just some observations....

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  #957 (permalink)
 Joules360 
Northeast US
 
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Aztrader:

Thanks for your input.... I agree staying with the trend in a good thing. Are you using a 5 min chart or a 15 minute chart...or even maybe using both to confirm a trade?

Also....what do you think about the 3 tick rule....instead of jumping on 1 tick for a trigger?

Thanks,
Joules360


aztrader9 View Post
I'm not Jeff but I think the key is to trade in the direction of the trend....most of the time, the inside bars seem to occur around areas of consolidation at the end of a pull back or at the beginning of one. If there has been a pull back and you get an inside bar, then perhaps wait to see if there is a second "break" of the IB, if so, this is the one to take in the trend direction.

The other idea I have been looking at is putting the stop behind the bar preceeding the IB. If this stop is to big, reduce the size until the dollar amount of the risk is in line and if that is still to big, don't take the trade.

Not saying these are the answers, just some observations....


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  #958 (permalink)
 PandaWarrior 
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Joules360 View Post
Aztrader:

Thanks for your input.... I agree staying with the trend in a good thing. Are you using a 5 min chart or a 15 minute chart...or even maybe using both to confirm a trade?

Also....what do you think about the 3 tick rule....instead of jumping on 1 tick for a trigger?

Thanks,
Joules360

I use the 5 min chart and a range chart for entries.....currently its a 6 range chart but probably going to a 16 range chart on monday.

I think the 3 tick rule only increases your stop. If its gonna get run, let it be for as little as possible. Using a tick chart of some kind can help you see these kind of stop runs....assuming the tick or range chart is smaller than the 5 min chart...on CL something like a 144 tick or 6-15 range bar would probably work well. I use the range chart for this purpose as well as for entry....my favorite is when the IB has been broken to the wrong side FIRST and then breaks to the trend side of the IB...this seems to be the most favorable way to get the stops ran and then enter with the trend, BUT you don't always get this set up.

So thats why I am THINKING about putting the stop behind the bar prior to the IB.....not decided yet on that.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #959 (permalink)
 Joules360 
Northeast US
 
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Aztrader:


That is exactly my point with my 3 tick rule....your favorite trade is when it breaks to the wrong side and then runs with the trend. Those "big boys" are painting the chart to get the most traders on board before they move the trade their way. Now the problem is trying to determine which is the real direction....lol. I guess sticking with the trend is the safest bet.

I just noticed your thread ...."Zen". It looks interesting and I am going to read it from day 1. I am curious to see if you became profitable...however....lots of reading. You can give me the short answer if you want...hehe.

Thanks,
Joules360


aztrader9 View Post
I use the 5 min chart and a range chart for entries.....currently its a 6 range chart but probably going to a 16 range chart on monday.

I think the 3 tick rule only increases your stop. If its gonna get run, let it be for as little as possible. Using a tick chart of some kind can help you see these kind of stop runs....assuming the tick or range chart is smaller than the 5 min chart...on CL something like a 144 tick or 6-15 range bar would probably work well. I use the range chart for this purpose as well as for entry....my favorite is when the IB has been broken to the wrong side FIRST and then breaks to the trend side of the IB...this seems to be the most favorable way to get the stops ran and then enter with the trend, BUT you don't always get this set up.

So thats why I am THINKING about putting the stop behind the bar prior to the IB.....not decided yet on that.


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  #960 (permalink)
 Jeff Castille 
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Here's a good definition of what an inside bar might be telling you.

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