TinGull

I have a rott/lab mix and a greyhound/lab mix. My rott mix is the coolest dog I've ever met.

BWWWWAAAAHHHAAHAA!!!! HAHAHAH!!!! Crap, I lost it when I read that!

What ES contract are you trading? You rolled over, right?

I think Reza is an owner of profiletraders. He/she's active on the linnsoft discussion group, though I know nothing else about them.

wanted to post a nice 2 bar reversal this morning at the open...

Dude, whatever, I make a trazillion dollar every minute in this market trading YM... haha, just kiddin'. Welcome aboard and I agree, I'm very glad those kind of statements like I just made are no where to be seen on this board. We definitely focus on the educational side of things instead of the stroking of the ego sort of stuff. Great to hear you're doing well and hope to see some charts and all

Yea, my Bugati is in the shop this week....sucks for me. Guess I'll just have to drive my Maserati

I've used red/blue candles for a while as well, and I've always had a greyish background. The black background was always too "militant" looking to me for some reason.

James, this week wasn't just bad for you. It wasnt awful for me, but it seemed like every trade I put on that would normally work just fine wasn't doing it. I ended up down on the week...but the market will be there next week. I found myself tons of times today thinking...yea, this looks good I should go for it. Once while I am writing this post. But, its not in my plan, so I can't do it. I ended up not even taking a trade today. The YM definitely wasn't as clear as it usually is with regards to the signals I take and when I saw one of the signals fail...I immediately became cautious of others. Since my setups are very volume dependent I get real freaked out when I see volume acting all sorts of weird per my setups. So, don't be too hard on yourself. Definitely, be a little hard on yourself, but it'll all turn up OK in the end.

Very interesting read!!!

thats all the info I have for it

7. New Indicator: Volatility Stop. The Volatility Stop Indicator helps define the current trend. The indicator plots a red line above the prices bars when a downward trend is detected, and a blue line below the bars when an upward trend is detected. These lines are commonly used as trailing stops. This indicator is commonly used as a exit tool rather than an entry technique. When price crosses the VSTOP value, the trend reverses and VSTOP moves to the other side of price. The VSTOP is calculated as follows: VSTOP Calculation When Up Trend Detected.... VSTOP = CL - MULT * TR As Up Trend Continues.... VSTOP = MAX(VSTOP.1, MaxCL - MULT * TR) When Down Trend Detected.... VSTOP = CL + MULT * TR As Down Trend Continues.... VSTOP = MIN(VSTOP.1, MinCL + MULT * TR) Where... CL = Closing Price MULT = True Range Multiplier TR = True Range VSTOP.1 = Volatility Stop Value on Previous Bar MaxCL = Maximum Closing Price since Up Trend Began MinCL = Minimum Closing Price since Down Trend Began Trend reverses between up and down when Closing Price crosses VSTOP. RTL Token: VSTOP The RTL Token for the Volatility Stop indicator is VSTOP. A common system for trading the VSTOP might be to look for closing price crossing VSTOP: Long... CL > VSTOP AND CL.1 <= VSTOP Short... CL < VSTOP AND CL.1 >= VSTOP More information on VSTOP can be found at: http://www.linnsoft.com/tour/techind/vstop.htm

Its funny...just this morning Linnsoft introduced a new indicator called "Volatility Stop" and its inputs are exactly what momentom specifies. Weird how the universe works sometimes...

Yea, I will from here on out. It hadn't been too big of an issue until the past 3-4 weeks. As for the ATR x3...on the YM where I entered a long (5min chart) it shows a 10ATR at 18ish. So you'd multiply that by 3 and use that as your stop?

Hey Brownsfan, I do go for larger targets (30-40 points) and 1-2 trades per day. Reason being, I don't care about getting filthy rich...just want to have the freedom, so I don't care if I make 4 thousand yM points a minute. I think my stops do need to be a little looser...and yesterday I found myself in a choppy area thinking it might yield a bit more, which it didnt. I might look into the ATR way of doing things. Sounds interesting.

Lately I've been having major issues with stops and trailing them. Today, for instance, I was long the YM at 325, and price moved up 12 ticks or so and then when I saw price start to get halted around 333ish on 2 5min bars, I moved my stop to BE +1 and got stopped out, only to have price rally nicely for 50-60 points pretty quickly. I've been trying to come to terms with if I should just set it and forget, or actively trail my stops. What do YOU do and why?

On the ES...

And the next 5min bar...

Just wanted to post something in quasi real-time that I'm seeing as YM hits the top f yesterdays range...as I post, YM's dipped 10 points so far on this lack of demand.

settlement is at 415 EST

Price *should* do it's thing by going higher immediately on a 2bar reversal. My entry criteria for entering a long would be the close of that blue bar. Then, when you see no more volume on the next bar, you can then assume that the effort made in the blue bar is having no results. When there's no results from the effort made, the path of least resistance is the opposite direction of the trade you'd be currently in. Of course, sometimes it can just play out and end up heading in the direction you want it to. But, more times than not the price will head immediately in the direction you want.

As for filters...I guess sometimes the pattern can fail. I dont have filters per sé on setups like that. If I see volume come in as a pivot is broken, then I know price should follow thru on that momentum. If there's no follow thru on the following bar when price should...then it can be a reverse trade.

The 2 bar reversal may not always engulf the previous bar...thats the only real difference.

Note the lack of follow thru. On a 2 bar reversal you expect to see immediate action. When the next bar didn't show conviction to the upside, the trade could be cut loose.