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Has anyone tried eminiacademy.com?
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Has anyone tried eminiacademy.com?

  #11 (permalink)
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here are a few examples of price action in multiple time frame

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  #12 (permalink)
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From what I have seen on the web site:

emini academy uses a modified approach from the Nexgen T3 Fibs software. Entries are based on MACD BB Lines, there are trigger lines, Keltner Channels, Fib lines, alternates for profit taking. I have never seen MomentumDots with the Fib T3 software, so either I did not pay attention or emini academy added it.

All indicators can be found here on the forum. No need to spend a couple of thousand dollars. You can also try to log in to one of the NEXGEN trading rooms. It is basically the same method.

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  #13 (permalink)
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Fat Tails View Post
... You can also try to log in to one of the NEXGEN trading rooms. It is basically the same method.

Are NEXGEN rooms free? Any idea what the parameters are for the trigger lines (large and small trigger)?

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  #14 (permalink)
Trading Apprentice
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Thanks for these charts guys. I still haven't made up my decision. It seems as though one can compile his or her tool set without paying $1000+ for education, when many of these educators are reselling modified versions of public tools.

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  #15 (permalink)
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omaha786 View Post
Are NEXGEN rooms free? Any idea what the parameters are for the trigger lines (large and small trigger)?

Nexgen rooms are not free, but they offer free trials. I attended a tradigng room once earleir this year, because they use an approach similar to my own. But all their indicators are different. I think it is a valid and serious approach to trading, but they are overcharging the indicators.

They have large and small triggers representing two different time frames. They look like linear regression lines (standard NT indicator) and an EMA of LinReg (also standard NT indicator). For my personal taste, four lines are too many, the charts are bit clustered.

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  #16 (permalink)
Market Wizard
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omaha786 View Post
Are NEXGEN rooms free? Any idea what the parameters are for the trigger lines (large and small trigger)?

Large Trigger lines: Close, 80, 20
Small Trigger lines: Close, 20,5
Keltner channel use these:
- ChannelThis(30,3,5,55,EMA,55,none)
- EMA_Colors(Close, 10,20,55)

Add Fat Tail's fibonacci confluence indicator and you get basically the same setup for free.

The big plus in favor of these trigger lines is in that they facilitate the reading of price action. The large trigger acts as a punching bag. The more times it gets punched, the weaker it gets. You can use it to gauge strength vs weakness. The small trigger acts as a momentum indicator and it helps to gauge the strength of momentum. Both are in the same window as price so you can keep focusing on price around these lines. I also use them to fine tune my entries and evaluate where i should place my stop loss.

I have also added to my template the particleOscillator_V7(Close,10,0) along with the TriggerLines they signal good entries that give the trader a positive expectation provided you still use your common sense.

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Has anyone tried eminiacademy.com?-nexgen_layout.jpg  

Last edited by trendisyourfriend; August 12th, 2010 at 03:36 PM.
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  #17 (permalink)
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trendisyourfriend View Post
Large Trigger lines: Close, 80, 20
Small Trigger lines: Close, 20,5
Keltner channel use these:
- ChannelThis(30,3,5,55,EMA,55,none)
- EMA_Colors(Close, 10,20,55)

Add Fat Tail's fibonacci confluence indicator and you get basically the same setup for free.

The big plus in favor of these trigger lines is in that they facilitate the reading of price action. The large trigger acts as a punching bag. The more times it gets punched, the weaker it gets. You can use it to gauge strength vs weakness. The small trigger acts as a momentum indicator and it helps to gauge the strength of momentum. Both are in the same window as price so you can keep focusing on price around these lines. I also use them to fine tune my entries and evaluate where i should place my stop loss.

I have also added to my template the particleOscillator_V7(Close,10,0) along with the TriggerLines they signal good entries that give the trader a positive expectation provided you still use your common sense.

There is no need to stay with the NEXGEN concept, as it can be modified or further improved.

(1) I do not think that you need 2 sets of trigger lines, I do not use them.

(2) My fibonacci indicator does not produce the same lines as NEXGENs indicator, but different confluence zones. The logic could be similar, but I have no idea about the exact settings of NEXGEN's indicators.

(3) You can try a different oscillator or settings to replace MACDBBLines. A combination of CCIs would also work.

(4) You should try to find the optimum settings for the Keltner Channel. These depends on timeframe and instrument.

(5) There are also other indicators that indicate support and resistance that could be used: pivots and current day volume weighted average.

Go ahead and play with it!

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  #18 (permalink)
Market Wizard
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Fat Tails View Post
There is no need to stay with the NEXGEN concept, as it can be modified or further improved.

That's the programmer in you that speaks like that. I know as when i was younger and a programmer i could not resist and i wanted to re-invent the wheel every time i had to edit someone else script.


Fat Tails View Post
(1) I do not think that you need 2 sets of trigger lines, I do not use them.

That must be a good reason! ;-)

More seriously, i have tried many times to add or remove some elements but i always revert to the core indicators. There is a good reason why i use two sets of trigger lines: i have learned to interpret price action with these two sets.

Here is an example that occured a few minutes ago on the ES:

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There is no magic but simple common sense.


Fat Tails View Post
(2) My fibonacci indicator does not produce the same lines as NEXGENs indicator, but different confluence zones. The logic could be similar, but I have no idea about the exact settings of NEXGEN's indicators.

That is one reason why i throwed these Fib lines to the toilet. Since no two traders can't agree on which pivot to look at in order to calculate the next level where price is likely to stall or revert then my common sense told me: why bother about such a fuzzy concept. Work with what is real and can be measured. That's why i now use Market Profile. There is no second guessing with this tool. The Value Area is not predicted but is a developping area where the main actors play. You can extrapolate all other key levels from this developping zone as the session progress.


Fat Tails View Post
(3) You can try a different oscillator or settings to replace MACDBBLines. A combination of CCIs would also work.

I don't think so. MACD operates on standard values that are used by many traders. Apart from a moving average i think the MACD is the most used indicator in town. To me, it makes sense to use the same pair of binoculars used by my peers. With the MACD you can detect support/resistance without prediction. The likelyhood of a break or a bounce off of a key level. If you need to exit ot keep your position opened etc. This simple tool is so versatile that i can't see what other indicator can replace it.


Fat Tails View Post
(4) You should try to find the optimum settings for the Keltner Channel. These depends on timeframe and instrument.

I do not believe in optimisation as price will do whatever it wants no matter your settings. What you need to do instead is to find where price might cheat and trick the indicator, ie, where price is more likely to give you two conflicting possibilities under the standard settings. At these sweet spots where one trader would win and the other would lose using the same indicators.

Here is one example i took in my library of tricky possibilities:
This is a case where my bias had changed to the upside when the large trigger was broken and even the midband but look at the strength of the small trigger lines and the position of the MACD. Everything was screaming: a zero rejection line is more likely.
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Fat Tails View Post
(5) There are also other indicators that indicate support and resistance that could be used: pivots and current day volume weighted average.

Yes, you are right. I already use these levels:

1) Yest. close, high/Low
2) yest. value area
3) Floor pivots
4) some extention from the value area

That's it.

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  #19 (permalink)
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Trading Systems

I just thought that I would add my 2 cents. When I decided that I wanted to trying day trading I searched for three months before I decided to sign up for one of these so called "Holy Grail" "Earn a living with one point a day" These guys really don't know or understand market dynamics. They just use simple and lagging indee's that don't work.

I stopped trading the system that I had spent thousands on and lost tens of thousands of dollars in nine short months and have studied and learned from others and showing consistent profitabily for the last month or so. I plan on going back to live trading in September if I stay consistent.

Don't throw good money after bad and use the money you would waste on the course and use it for trading capitol. Just take it slow and take your time and practice, practice, practice. This is a business that takes time to build.

I hope this helps!

Cheers
itrade2win

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  #20 (permalink)
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trendisyourfriend View Post

That is one reason why i throwed these Fib lines to the toilet. Since no two traders can't agree on which pivot to look at in order to calculate the next level where price is likely to stall or revert then my common sense told me: why bother about such a fuzzy concept. Work with what is real and can be measured. That's why i now use Market Profile. There is no second guessing with this tool. The Value Area is not predicted but is a developping area where the main actors play. You can extrapolate all other key levels from this developping zone as the session progress.


I think that all concepts in trading are fuzzy. You need to tackle that. I would never trade off fib lines or pivots without additional information, but it definitely helps. Certainly this information has superior precision, if compared to market profile. See chart below.

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