I thought this would be a great place to post my trading rules, charts, talk about the setups, winners, losers, ones that set up and I missed and so forth.
I am using a 6 pip range bar on the GPBUSD and will use the same for the EURUSD.
Lets start with the rules for trend trades first.
Price bars must be on correct side of large triggers and large trigger in our direction or weakening,
Bars must be in trade color yellow for down, green for up and should be on correct side of mid-band.
Wait for a pullback to an area within a couple ticks. (if area is MB then MB must be trade direction color or wait for price to close on correct side of signal line)
Enter on a reversal bar from area
Macds in trade direction with weak pullback.
Never enter a trade outside of the outer bands.
1. Initial stop is 2 ticks above/below the entry bar
2. Move stop to BE at 10 pips/ticks
3. Exit half of your position at Outer Bands
4. exit second half when the Parabolic flips AND your price bar closes against you. If Parabolic flips and price bar closes
back in the trade direction then move stop two ticks above/below that bar.
Last edited by JamTheTrader; January 15th, 2012 at 07:02 AM.
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Here are the charts for my reversal trades using two time frames, I will post all of the rules in a little later.
I use an 89 tick chart for areas and entry/exit and a 233 tick chart for areas and direction.
Last edited by JamTheTrader; September 1st, 2009 at 07:23 AM.
Here is my first live trade this morning, it was a 30 pip runner to my area and a reversal type trade in the direction of the larger chart. I became very tired and grabbed 6 pips then went to rest for a few as I was up at 2:00amEST (full move on this trade was 70+ pips)
I do use nexgen fibs in my EC charts as well as my own variation of Balance and fibs. As for the other indicators, they were not developed by Nexgen only copied.
For example, the large triggers are linear regression MA and an MA of the LRMA. I do not use the small triggs but instead have adapted a Hull MA which I find better for me. The Keltner is a 55 period EMA with a displacment of 3.4. And on my GDP chart I have nothing from Nexgen at all.
They have a nice trading package and it cost me a lot of money for not only the package, but trying to trade their rules as well for over 4 1/2 years. In the free room that I moderate mostly with a few Nexgen people on and off, when question I always have to ask, are you profitable, if so keep doing what you are doing. No one has every said they were profitable when asked.
sukhsan, thanks for posting your NT charts... did you develop the MACD BB's or are they available somewhere? the gray area looks like Keltner bands, not BB's... were the BB settings you mention those on the MACD?