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To avoid obfuscating anybody just PM me your mentor's web site, i'll take a look. Regarding counter-trend trades with MACD, i do it too. But i have noticed that it's easier for me to take a counter-trend trade when price retraces or makes a pullback. A typical example is when price retest a swing high in a downtrend or a swing low in an uptrend. I like to use the BBMACD to evaluate the strength of the push against or with the global trend. You might argue that it's not a counter trend trade but i like to think that i am going against the emerging momentum.
I tried to illustrade a typical counter trend trade setup as i see it presently in my understanding of price action. You should easily see how i tend to interpret the MACD in relation to price action. To avoid any confusion, i first look at the reaction of my indicators then i look at price to find the ideal entry point. Price action as i see it is evaluated in a global context and by that i mean in relation to what the indicators suggest in the developing context. I like to think i use a frame of reference to interpret what's going on.
Pullbacks using small stops are harder to identify the setups IMHO. I am not an expert yet, pullbacks are possible, and I try to get in on the 23% deep pullback to test the pivot. By not waiting I tend to give more gifts and I set it to BE+1 too often and get knocked out anyways, but also sometimes it doesn't retest support/resistance and I am in a very nice run.
Friday was an interesting day...
Oh, and ignore all the BS on the 'sales' part of the website that I send... It is all new to try and get students, but it doesn't deter me as I believe it works.
My first day using NinjaTrader and my first day back trading after a week off. I was chomping at the bit to trade and wasn't clear on which direction to go.
I saw longs on the 50K, short on the 4181 and 1597, so I COULD have chosen to sit it out until clear. It was clear on my last long and I could have held it for much longer, but I am back to my old habits.
Trades:
1. -4 ticks, The 987 was saying more up!
2. -4 ticks, same as trade #1!
3. -5 ticks, I thought this was the pivot for a short finally. I was close.
4. -3 ticks, Ok, from the mess on the Ninjatrader charts, you can tell that I am trading way too much. I wanted to hit that pivot and it did one last surge up. This was the high for the early morning.
5. +13 ticks, this was good insight as even though I saw short, it was saying it was unsure or going to range.
6. NO FILL, Down arrow showing I tried to enter at 724.50 but I guess too many people felt the same way.
7. +1 tick, I was ready for the short, but the market wanted to range.
8. -2 ticks, tight stop, expected a bounce, but bars were closing down. Pay attention!
9. -5 ticks, I expected it to run from here.
10. +1 tick, came back down to knock me out before a run.
11. +12 ticks, market was moving a bit slow, and since I only have one contract decided to exit to take care of other things.
For my first day of using JUST NT 7, I am very happy. This was fun to me.
Ok, last day of playing w/ NinjaTrader7 and I noticed my wife's feed and my feed are completely different. My macd's are WAAAY different than hers! Strange?
So, I am on demo and she is on live account, so we need to figure this out. Kind of scary if you think about it, but I guess the feeds can be that different!
I think that is the issue.
I was up/down/up/down today. Pretty ranging day and I would have ended up -200.00 or -20 ticks for the day, but I was up about 11 ticks and maybe would have stopped, but still just learning the new system and how to react to certain conditions when they occur in the platform. Like scaling out quickly etc...
I haven't realized this and I understand that TS is different then NT, but boy... We watched it today and it was strange, they were much closer, but bars were a bit different. Her bar setups looked completely different then mine! I would think they would be identical considering same exact computer (well except the stamp on the motherboard), same internet, I did a backup from NT7 and restored it on her computer etc.. You would think they would be identical. The only thing different is the feed, DEMO/LIVE.
Ok, it was a positive trading day, but not the kind to be proud of.
The daily, 50K were all saying UP UP UP and there is a nice setup saying that it is going to head up to 730+- and then go for a big drop! I didn't listen to that, as I am only going for a couple points and the 4181 tick, 1597 tick were all saying that they have some retracing to do!
I want to upload my indicators and template, but I don't know how to export a template? So, I will hopefully put that on the first post soon.
The first image below is my trading results.
2nd image is my first trade of the day. You can see from the MACD's that it was headed north, but I thought possibly that it could go hard short, so I ignored them. I expected it to go down, then up, not up up up.
3rd image is a perfect picture of a counter-trend profitable trade. Clear separation on the MACD's, outside Keltner, etc.. I will explain nuances as I go, but most people can look at these two differences and see what isn't working.
I am still working on NinjaTrader and I find myself not getting in as much on the pivots as I do on TS. I use the chart trader, so my hand is right there, but maybe I am taking more time to confirm. I also didn't get in on a couple of trades due to no fills today.
Trades:
1. -3 ticks, MACD's were clearly saying going up except 4181.
2. -2 ticks, bad trade, closed it as it wasn't ready yet.
3. - 5 ticks, I chased this entry, as it was 'popping' very quickly and by the time I clicked it had dropped about 5 ticks, then popped me right out.
4. -2 ticks, ok, I thought for sure this was the pivot. It had a little more juice left in it. Had I kept a 5 tick boundary, I would have been ok.
5. +18 ticks, This was perfection. Not in the right direction, but perfect entry, perfect exit. Actually my entry was supposed to be @ 718.70, but it didn't fill me so I chased it. I considered stopping for the day.
6. NO FILL, went +8 ticks in my direction, but not a good possible trade.
7. -7 ticks, WOW, blew right through my stop! Poor entry location as I was thinking short a little bit more.
8. +1 tick, went BE+1 after it moved 12 ticks in positive direction. I expected more down, but was mis-reading bullishness.
9. -2 ticks, I realized this was heading up, so I manually exited.
10. NO FILL, this was a nice pivot that went for 25 ticks, but I kept chasing it and it wouldn't fill me. So, I waited patiently for the pullback and got on the last bar before a nice run down.
11. +13 ticks, Nice run, looked like it was coming to an end, so I exited before NEWS @ 10am (EST).
12. +0 ticks, I liked the look, but longer term was saying more up, so I exited.
I do have an ATM 'chase' for 1 tick if it hits my price and then goes it will move my entry by 1. This has helped me immensely on my entries.
I am expecting a nice short in the next couple days.
If someone could help me figure a way to just export my background, indicators w/ settings, etc. then that would be great! I don't know how to do that with NT7.
