not sure how this happens .. got a bad fill on one account .. entry point was way off from other three accounts .. the loss on that trade was huge .. wiped out all the profit in the account for today AND ended up with ADMIN closing account ..
23 05 25.fw
.. you don't have to be the first one at the party .. just be part of the party ..
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have located an early version of the moving average indicator used on my charts .. although it defaults to my final properties this will give you the opportunity to choose different types of moving averages so you will see why I chose my final settings .. or just use it with default settings ..
send me DM if you want it ..
@elmatador .. the volume-weighted MACD doesn't impress me much .. in fact, I took it off my charts and have reverted to the OBVM convergence-divergence indicator I created .. OBV (On Balance Volume) is a way of looking at buyers & sellers .. OBVM is a smoothed OBV indicator .. my indicator performs a second smoothing and then compares the two smoothing values .. kind of an OBVM-CD .. you can see this on @injpowwetrust chart (he changed the colors) or some of my older posts .. you can download OBVMCD indicator from here ..
This indicator compares favorably to NT8 Order Flow Cumulative Delta .. without requiring tick replay or a lifetime license
The On Balance Volume indicator looks at NET volume (buyers vs sellers) for each bar and adds to the previous OBV .. so OBV …
ADL is a similar indicator to OBV .. very easy to convert mwIndOBVMCD to mwIndADLMCD if you wanted to compare ..
.. you don't have to be the first one at the party .. just be part of the party ..
@mewddsltd
- thanks, what is the difference with your earlier version of MA? I just use SMA or EMA.
- yeah overtrading can be detrimental, unless you have full control of yourself and believe in your system. Nothing wrong with just trading the first 30, if anything you have the rest of the day to yourself... doesn't
seem like a bad exchange.
- oh man, that morning rally ... looking forward your post!
@bwolf congrats on pass your evals! hope you got a piece of that rally this morning for your second phase... haha
I didnt take good trades today. They were eventually winners, but I had to move my stop loss. I got into trades when price had move to the "upper range" above my entry which is around the
bounce off/rejection of 60 ema. I shouldn't have taken any of the trades I took today, they weren't in my favor. I got lucky, so I'm choosing to walk away with some small gains. Everything is closed/shut down, I don't want to jump back in later and start tilting... I know I will.
Hope everyone had a solid week, lets get it next week! Screenshot 2023-05-26 091004
Screenshot 2023-05-26 091218
Stay safe, stay green friends!
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@injpowwetrust .. good job today .. any green day is a good day ..
I shared the idea of my moving average indicator because someone wanted to know how to get their charts to look like mine ..
the moving averages I use are two Hull Moving Averages and one Weighted Moving Average .. this gives me a better representation of price action by using one HMA[21] for the Close, another HMA[21]for the Open, and a Weighted Moving Average of the HMA[Close] that I use as trend indicator / Stop Loss
a friend .. and successful trader .. challenged me to describe my trading strategy in less than a minute .. so here goes ..
1) look for trades in the direction of VWAP and Trend Direction
2) enter a trade when two bars close in the same direction as VWAP and Trend Direction
3) place the initial Stop Loss at the distal of the previous bar ( previous LOW in uptrend .. previous HIGH in downtrend) .. move the stop loss as the price moves in a profitable direction
the attached image shows my trade setups for ES & NQ from this morning .. in both instances, the first setup had already broken a swing-hi so I placed a trade without waiting for close of the bar .. the second trade had not broken the swing-hi and could have been a double top .. so I waited before placing the trade
the first 30 minutes of today's trading session saw .. the NQ moved 100 points (400 ticks) and ES moved 20 points (80 ticks)
I know there are traders that will
.. draw a trendline of a retracement and then trade the break the trendline
.. trade the breakout of the swing-high // swing-low
.. use several moving averages and trade when a bar closes across the fastest moving average
.. and there are others ..
but the bottom line is they all work .. all of these trade setup methods end up in about the same position .. varying by just a few ticks one way or the other ..
23 05 26.fw
.. you don't have to be the first one at the party .. just be part of the party ..
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was evaluating the modifications I made to the indicator that serves as the foundation for my trading strategy and using the ATM to set different targets/stop losses/trailing stops .. only traded for 30 minutes .. could have gotten more but pretty happy with today's results ..
23 05 30
.. you don't have to be the first one at the party .. just be part of the party ..
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if you look at the underlying price action on a time chart (such as 1-minute) instead of a RENKO-based chart you would see this is just Bull/Bear flag price action .. or some would say .. rally-base-rally (or drop-base-drop) .. the idea being to trade the breakout .. and the criteria for the breakout on a RENKO chart is wait for close in one direction and then two bars that close in the opposite direction .. that will usually have the price above the swing high (or below swing low) .. and of course, with the OBVM or ADLM indicator that confirms the trade ..
.. you don't have to be the first one at the party .. just be part of the party ..
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thought you might like to see a 2-minute MES chart alongside 8-RENKO bar MES chart .. I chose the 2-minute chart because there are 13 8-RENKO bars in the first 30 minutes ..
the MAX & MIN was set so both charts are the same ..
the green line represents the low of several bars on the 2-minute chart .. NT8 has a feature where an object can be drawn on one chart and it will be added to all charts of the same instrument ..
the trade setup on the 2-minute chart was 3-ticks better to the first low .. but the 8-RENKO chart had an additional trade setup
anyway, the entry points seem so much more apparent on the RENKO chart .. to me that is .. and this strategy is easier to program using RENKO bars ..
23 05 30 comparison
.. you don't have to be the first one at the party .. just be part of the party ..
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the best move of the day was in the first couple of minutes .. made my profit by 7:31 AM and then watched price action chop around waiting for numbers to be released ..
23 06 01c
.. you don't have to be the first one at the party .. just be part of the party ..
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