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IamJon
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amory, Your macd is showing the signal (fast) as a histogram and the smoothed (slow) as the line. Phantom's macd is showing the signal (fast) as a line, the smoothed (slow) as a line, and the difference between the signal and the smoothed as a histogram. The diff line is not important for this trading method. There are other MT4 macds available that will look more like Phantoms. I can point you to them if you would like. J.
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Phantom, Unless you are using a custom macd, the standard macd in ninjatrader does not have the selection for the moving average types so the fast, slow, and smooth, would all be EMAs. I do understand all of the other moving average you use are SMA. J.
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Pat, I believe they should all be exponential. J.
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P, I'll do my homework and figure out what works best for me. I am glad this thread is still alive. Enough kibble makes for a hearty meal. Enjoy the weekend. Thanks always, J.
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Phantom, I don't think I could ever thank you enough. The thing is Raschke uses a Stoch for the anti (at least in the book). How are you using the macd instead of stoch hooks? Thanks, J.
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Phantom, Your trade examples that are / would have been winners are vary helpful. I also think the more examples you show, the better. All trading methods are subject to a certain number of trades that just don't go as planned. The reward/risk ratio is what allows a positive expectancy to prevail. One thing that would also be helpful is if you could show us the anatomy / postmortem of a trade gone bad. Thanks always, J.
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Q: How do you decide on the chart time frame/# of ticks per bar?
A: I use a deductive method starting with the biggest and work down from there... I'm using thinkorswim so the tick chart values are predetermined and fixed but they're very usable... I mainly use the 3200, 1600, and 400.
in conclusion... this is just the way i do it and have devised after many years of trial and error and also gleaning lots of tips and tricks from other traders, reading books, and mega hours or gazing at charts....
in a lot of ways it's similar to what Maelstrom is doing with HH/HL or LL/LH flow analysis... sometimes i get it right and sometimes i don't... with solid risk management all i have to be is right most of the time.
here are some previous posts on Maelstrom's thread that detail a typical day for me trading the ES.
post#
84
92
108
110
123 thru 130
193 thru 195
good luck
-phil
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Q: Which markets (instruments) are your bread and butter?
A: the ES for my days pay daytrading... i know it the best... for my retirement stuff I use a suite of swing strategies i created in Omnitrader Pro designed specifically around 20 ETF's that cover a broad range of sectors and a commodoties.... it's an ATM machine and very low maintenance... i just run my data about 20 min. before market close and go from there... most trades last anywhere from 3 - 5 days... sometimes more or less but that's about average.
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using an example of 4 contracts taking 2 off pretty quickly (just below swing high or a close above SMA(5), or maybe an overbought signal on an oscillator such as RSI or CCI) and moving stop loss up to half what it was or just a tick or two below nearest support or swing low... again subjective depending on the circumstances... then take off 1 contract if it hits the 23.6% extention of the measured swing on entry.... that leaves a balance of 1 contract to trail or set to full 100% extension of pattern or measurement of trade swing... again subjective on trailing method... sometimes i'll use micro swing lows (1600 or 400 tick chart), or a 1.5 ATR(5) trail or a a tick or two below an MA like the 5 or 20.... also i'll look at pivots, or key market levels like the open, yesterdays OHLC levels and also globex AH levels HL... major MA's like the 20, 50, 200... trend-line support/resistance... etc.
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Q: Could you elaborate more on your entry and exit levels?
A: both are subjective but once a setup is in place i like got get in on a good pullback using a limit order... if the pullback is in the 40 - 50% retrace then i just set the limit order to a .25 or .75 tick depending on which is closest to the ideal level... this increases odds that order will be filled since the MM's usually will take it to the whole number or .50. I generally use the 1600 or 400 tick chart to pinpoint best entry but not always. exit depends on a lot of factors but if i believe the strength of the setup is good and go in with a full position then i scale out. i trade in increments of 2 contracts,...
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i'm kind of a tight-wad when it comes to spending $$ and if i can get the job done using free stuff well that's what i'm gonna do... so i use TOS(thinkorswim) and then IB(Interactive Brokers TWS / booktrader DOM tool) to execute and manage the day-trades... also the data feed on Interactive Brokers is way faster than TOS... so i use some of the IB internals over TOS cuz TOS often lags too much.
but really, i've put enough up there that one can pretty much figure out what i'm doing...
doesn't necessarily mean it'll work for you or anybody else so maybe it's not really all that wise for me to be putting this stuff out there anyway...
but here's my best shot at answering your questions...
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hi Jon...
i tried to answer via PM and the system is rejecting it cuz it's too long... so i'll try chopping it into parts...
hi Jon... i'll try to answer your Q's but am gonna take a bit of a break going forward.... just got too many plates in the air in real life...
really the only reason i was posting my trades on M's thread is that I saw a lot of similarities in our respective methods and thought maybe not everyone is using a platform that has range bars... my thinking is that one can still trade the "idea" on tick or time based charts...
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Trading the Storm - Methods for the Struggling Trader
IamJon replied to Maelstrom's topic in Technical Analysis
Phil, Could you elaborate more on your entry and exit levels? Which markets (instruments) are your bread and butter? How do you decide on the chart time frame/# of ticks per bar? If you would rather I PM you, let me know. Thanks, J. -
Phantom, Glad to see were back on topic. Wouldn't the use of range bars obscure the volatility? J.
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Trading the Storm - Methods for the Struggling Trader
IamJon replied to Maelstrom's topic in Technical Analysis
M, Thanks for sharing all that you have in this thread. I hope that if any specific things come to mind that you feel you should have elaborated on (such as S&R) please feel free to post in this thread. I don't think those of us that have been following this thread and are truly interested in trading this way would be more confused by any additional information and nuances. I also hope you will continue to post some of your trades in your other thread that was intended to be used as a log of your trades. Thanks, J.
