torero

If you look at the daily and 60min charts on ER2, it looks like a trend day. It may start slow but it did linger and not breach the support it made early in the day (at least I wouldn't take any short this morning, no clear signal at all, up or down). To me, any day where there is no break of support and moves continued higher highs (bullish) is a trend day. Unless we all have a different definition of a trend day, then he'll need to clearly show an example. Charts please, I can't explain without charts and I don't understand concepts without charts. Trying to figure out what IT IS without charts is like blind leading the blind.

I accidentally placed this chart on a different thread earlier this morning. Here's the correct post (I hope). Now it's time to wait for the next pattern. Most like next week.

The indicator requires alot of RAM to do the calculations using alot of arrays, this is why it slows down the PC.

Yes, MP indicator taxes the performance of the charts on TS. I've had this problem and had to mark off with horizontal lines, then disable them before the market opens. Only way to get this to work properly.

I don't predict but use measured move from a pattern to identify a trend and a length of that trend. Case in point, a breakout from a triangle, I expect it to be a beginning of a trend. If I'm wrong, I get stopped out, end of story. If it is a trend, then I have a length of trend in mind where it would go to. I don't know if it does but I know the probability that it will make it and not make it. This is the best I've seen and learn. Let's take today's action and the chart above. I assume everyone agrees that ER2 (and possibly other eminis) are trending yes? I see it trending because it broke out from a double-bottom pattern. From past learned knowledge and experience, the measured move of this trend to go to 825. Will it go higher than 825? I have no idea. I know the higher probability that it goes to 825, after that, I have no stats to back my position so I exit before hitting the target. So I identify the trend early on when it breaks from a major/significant support or resistance level. Now, if it breaks down before reaching 825, I have one clue to let me know that it may not make it and that is when it fails to make a higher high and starts showing a lower low. This tells me to either tighten my stops or just exit all together. I know I'm being verbose but hopefully the message is clear.

Take your time, Don, no hurry. Your system is off to a good start, best of luck. What platform did you build the system on? Are you using the same broker or is it route through another broker?

Is there any chance we can see the equity curve of the backtesting results?

Here, I wandered looking for TS-based Market Profile indicator and found it here. Then made this nice place I now call home. How have you been? Still in TS chat room?

januson, you're on the right track... you're saving yourself months if not years of headache and $ by starting to be honest and open with yourself early on. Best way to learn and grow in this business. Ask if you need help. Looking forward to your plan. Good luck!

why skype? what about the chat room you have here?

"Danger is my middle name..." Ha ha ha.

Target met. What a relief before the FOMC time!!!

Yes, most times slippage is 1, 2-3 on strong news announcements. I agree volume is more on ER2 than YM on many days. Also, I find ER2 trend on more $ amount than YM. Soultrader has traded both, he can tell you the difference.

Yes I usually up 3-4 hrs before Asian session closes. I used to only trade eminis, not I'm doing both. I only trade ER2 emini in the afternoon.

PP nailed it. You have to look for these to define trends and ranges. Pivots are your best clues to know what the market is doing. This the same reason buying pullbacks and selling rallies are the best and safest entries you can make by riding whichever the wind blows. The chart below should give you an idea what they look like. Ranges happen when there are no higher highs or lower lows, they just make to the same pivot level and reverse. This is price action, this is where the payoff comes when you learn to recognize. Indicators are lagging so by the time it happens, the trend has been clearly moving. Internals are fine if you trade in micro-timeframes. This price action applies to all timeframes. Start from largest and work your way down. Define the trend in the one timeframe larger than the timeframe you plan to trade, that will be your guide.

Hi, Nick! Nice to see roaming around these parts!

Agreed! Need to work that down, januson. In futures, 5 is already alot. If it's not happening in the first 3 trades, shut down and try again next day. Sorry to hear that, but we've all been there. Make sure you learn to differentiate between trending days and non-trending days. Non-trending days will eat up accounts faster than you can say uncle.

I assume you have a foreign account? What brokerage? Have you tried Interactive Brokers? No one from them seems to complain about this (or at least no even knows). Any ideas guys?

yep, was unpleasant to see the drop and I was expecting to be taken out. Sometimes I'm amazed how technically disciplined forex is compared to other markets. So far so good, 2nd target is getting nearer. Good on ya, cowpip!

Good thread, weiwei, thoroughly enjoyed! Good on ya!

How reliable is the data for multicharts? Recommend it? How about execution and automation integrity? I've been looking for an alternative to TS. I'm happy with TS except their clearing broker is not as good as other brokers I've seen, especially for forex market (DD!!! Dealing Desk!!!). If this one can do just as good for futures and forex, I may switch.

5 min ago it was unlucky me, now it's lucky me . Market sure takes as quickly as it gives. First target met, 9500, the other target is DB measured move, still alive.

Hi PP, I'm in and out throughout the whole day. But usually I'm in when London and NY opens as well as stock market opens until lunch time. Why? Looks like I got unlucky with the target, missed by 5 pips :mad: I'm still in, but that might change soon.

That's very enlightening to hear tradingman. I checked out the website. I assume they are looking for college-age recruits only right since most do not currently have high expenses required to have a full time job. Do they trade stocks only? Do they trade futures too? I assume the drop out rate is quite high, considering the 3 cent stop loss is extremely small unless it's the purpose to teach hitting stops every time.

So if you understood yourself and cannot control your emotion, how or what did you get your trading change for the better? I see these 2 problem intertwined. Here's the example, shrinks identify the problem and make that known to the patient. But that's the first step, the 2nd step is to change the behavior to get rid of the problem because recognizing oneself is not enough.