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Boomerang indicator system at indicatorwarehouse.com


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Boomerang indicator system at indicatorwarehouse.com

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  #81 (permalink)
Las Vegas, NV
 
Experience: None
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: CL
 
Posts: 102 since Jun 2010
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longboat View Post
I own Boomerang and I will give you some of my thoughts. First let me say that I have nothing to do with Mohan or the indicator sales company that sells it.
I used it in sim for a week or two after I purchased it months ago and I quit using it. There were way too many trades and I got cut to pieces in the chop days. A month or two later Mohan brought out an add on for Boomerang called the Trade Bias Selector (for another fee). It looked like it might help with the signals and I decided to buy it a few weeks ago. It wasn't that much money. What a huge help. It really filtered out the signals until there really averaged about 3-4 in the morning session. Huge improvement. I am still testing it. I was in sim this week and I can say it was profitable every day and nicely so. I know not a very long test but back tests looked good too. I am going to trade real money next week probably.
Let me add some other thoughts here. I am not going to give away any of the copyright stuff or rules or anything like that. I have spent thousands and thousands of dollars on indicators, software and trading rooms and I can say that for the amount of money I spent on Boomerang it is the best software values I have found for the money. God knows I have wasted much more money on other totally bogus software scams.
It is not what a lot of you may think it is and it is not my main trading software that I use right now, but we'll see. It is not meant to be traded all day and it was made for the ES Some people have claimed it works on others but that is not what it is for). He says to quit trading it when you get 4 pts and I think this is good advice.
There is not very good money management directions in the manual and you are kind of left on your own with that. He just says he doesn't believe in constantly moving your stops, but do you go break even at 2.0? Do you close it if you get an opposite color arrow? A different color bar? These questions are not spelled out. It is very simplistic which is refreshing though.
I doubt this would ever work as an auto trading system and I was not aware that they tried to set one up. There is some discretion in choosing trades to exclude around news events and trades too late in the trend.
You guys can ask me generic questions about it and I will try to answer them. Is it the Holy grail? No. Is it a good indicator package? I really do think so, but I will keep you up to date with my tests. It kicks butt in trending markets, but doesn't everything?

I have the boomerang as well. profitable for me almost everyday. i trade with trend and just 2-3 trades in morning and im done!

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  #82 (permalink)
Dallas, TX
 
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marker View Post
i trade with trend and just 2-3 trades in morning and im done!

marker,

glad to hear your successful trading! how do you identify the trend?

thanks,
gulabv

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  #83 (permalink)
Las Vegas, NV
 
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gulabv View Post
marker,

glad to hear your successful trading! how do you identify the trend?

thanks,
gulabv


i use secondary filter charts with other indicators that work better on longer term charts

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  #84 (permalink)
Auckland
 
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Hi Marker

What do you mean by longer term chart... is there a positive trend in which profitable trades are greater than other timeframes.

sharmas

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  #85 (permalink)
Chicago
 
Experience: Intermediate
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I was getting good results on it on Sim with 3 contract scaling 3,7,10 tick targets few months ago. Lately I have been using it live but using a 6-8 tick stop been aiming for 6 ticks on 1 contract has been working okay few stop outs to the tick. On early morning breakouts lets you jump in and trail it pretty good. To me its work best on holding on to a breakout. A good way to refine the entry is to look at a small tick chart like 233 or 337 and look for areas of support and resistance and pay attention to other key levels like overnight highs previous day close unfilled gaps.

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  #86 (permalink)
Toledo, Ohio
 
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I am so glad to hear people are actually making money out there. Really gives the rest of us hope. I'm very attracted to Perry's method and may even consider starting a journal with it.

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  #87 (permalink)
In the heat
 
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tmmaggi View Post
I am so glad to hear people are actually making money out there. Really gives the rest of us hope. I'm very attracted to Perry's method and may even consider starting a journal with it.

I think if you don't have a method already, Perry's is the best out there. I think there are too many indicators in his method but if it works, it works. I use something similar but without all the other indies......I find the price action along with the SMA's are enough. The indies at the bottom of the chart only confuse me. But thats me. I can't follow to many things at once. If the chart were time based, I think the extra idies would help but its not so I dont see the point.

Anyway, do look seriously at Perry's stuff. Its really one of the simplest and probably most effective long term.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #88 (permalink)
Unites States
 
 
Posts: 35 since Sep 2010
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aztrader9 View Post
I think if you don't have a method already, Perry's is the best out there. I think there are too many indicators in his method but if it works, it works. I use something similar but without all the other indies......I find the price action along with the SMA's are enough. The indies at the bottom of the chart only confuse me. But thats me. I can't follow to many things at once. If the chart were time based, I think the extra idies would help but its not so I dont see the point.

Anyway, do look seriously at Perry's stuff. Its really one of the simplest and probably most effective long term.

What time frame do you trade with AZ? If you don't mind me asking.
I have been wanting to try ranges, and volume but not sure which ones would work the best together.

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  #89 (permalink)
In the heat
 
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eminitrader View Post
What time frame do you trade with AZ? If you don't mind me asking.
I have been wanting to try ranges, and volume but not sure which ones would work the best together.

I use a 4 range and a 35 tick chart on TF, 6 range and 55 tick chart on CL along with a couple of MA's and my fib lines. I just found some value in a 5 minute chart for both instruments. I swore I'd never use a time based chart again but I have to eat my words. There is a great set up look right after a swing high or low in this time frame that leads me to my tick chart for an entry. Again, all based on fibs and my MA for confirmation.

I know nothing about volume but I have seen some chart and they look good. Ranges completely eliminate time and only show price. I am starting to think a combination of time and range is probably best.

But hey, I am still on my journey and am not perfect. You need to find your own way.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #90 (permalink)
Unites States
 
 
Posts: 35 since Sep 2010
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aztrader9 View Post
I use a 4 range and a 35 tick chart on TF, 6 range and 55 tick chart on CL along with a couple of MA's and my fib lines. I just found some value in a 5 minute chart for both instruments. I swore I'd never use a time based chart again but I have to eat my words. There is a great set up look right after a swing high or low in this time frame that leads me to my tick chart for an entry. Again, all based on fibs and my MA for confirmation.

I know nothing about volume but I have seen some chart and they look good. Ranges completely eliminate time and only show price. I am starting to think a combination of time and range is probably best.

But hey, I am still on my journey and am not perfect. You need to find your own way.

Thanks for the info, I will check them out. And no worries we all here ain't perfect either

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