shooly76

These both seem quite similar to me, however, from what I can see, the price never breaks outside of DC supp/res, but it often does w BBs. Is there more info to be gathered from BBs? other than price breaking BBs supp/res, the 2 price channels seem very closely related. also, I am using a trending strategy, so what is the best oscillator to use for these price envelopes to better predict a trend in price action? RSI? Price oscillator?...etc??

thanks for the helpful replies..I have NT7..so I think I can backtest on that, but Im not sure how to backtest yet. is there a tutorial on backtesting for NT7?

I am currently putting together a rules-based trend strategy using candlestick price movement.. I wait until a higher/lower close crosses through MA then wait for relative high/low..then I wait for 3 consecutive higher/lower closes inside supp/resistance to enter. but here is my ? >>if a candlestick comes up w no 'box', Im assuming this means close is the same as previous candle.. but can I count this 'no box' candle as one of my 3 higher/lower closes? or should I wait for 3 solid higher/lower closes?

considering the current probs in greece and upcoming probs in italy, will it be "safe" to daytrade 6E currency futures? IOW- will 6E become more volitile, and choppy... and less of a trending market? whats the next best (trending) currency futures market to trade after the 6E? GBP?

can I pay for NT7 monthly, or do I have to pay $600 up front? NT website states $50/month, and then I go to pay for it, and it says $600

please provide all possible info and links about this instrument and other currency futures. Im very interested in this. I just sim traded a 1 min chart on NT7 and made money fast (just playing around and learning NT7 demo)...but I havent yet had time to research it..hopefully my research can start w this thread.. Im interested in currency because of the time Im able to trade it> 6pm ET-8pm ET, and Ive also read its good for a trending system. I know that tick size is 0.0001/$10.00 but I havent had time yet to do the math on this.. so how many ticks is a point? point value ($)? best time (ET) to trade?

thanks for the replies.. euro? fdax? please elaborate..

if 4 ticks=1 ES point, and 10 ticks=1 TF point, doesnt that make it "easier" to get points trading the ES? I know 1 ES point= $50, and 1 TF point=$100 ...but still seems like its easier and faster to get points trading the ES am I missing something here? like is my math wrong or something (tick value)?

TF chart 6/13/11>>>>>>>>>>>>>>>>>>

Im trying to fugure out what time (ET) this chart is showing? Ive tried to figure this out, but I cant make anything of the timestamps on bottom of charts. just trying to get a feel for when the best time is to trade and when the morning session starts and ends, and when afternoon session starts and ends..for both TF and ES. I can already tell Im going to have a hard time trading due to my work sked..

after u fill out app, some firms will send u something similar to a risk disclosure statement explaining that futures trading is not a good idea w a low net worth/ annual income (under $50,000). u agrre to it and sign it, then send (fax) it back and some firms will likely open an account for u. but u will not b able to open a futures trading acct for anything less than $2000.

I will be paying my taxes next year as an individual, not a LLC, etc.. so how much (%) will I owe on my federal taxes for income earned from daytrading emini futures contracts? Is this considered capital gains, or investment income? I looked on irs.gov briefly, and I couldnt find this exact info.

ok..so Im thinking about this, and it seems that Im a little off base w my interpretation of retracement for long and extension for short. so I guess its a retracement of the trend itself whether in a downtrend or uptrend. if it goes back to the mean, its a retracement either way.. is this correct? so what is an extension? and I still need info about the grid and levels...like I know that the 0.0% gets lined up w a new high, for potential long entries. but what about for short entries? does the 0.0% get lined up w the new low level?

ok, so Im learning a little about fib grids and levels and that its basically supp and resistance.. its my understanding that a fib retracement is used for a potential long trade. So is a fib extension used in a potential short trade? also in a fib retracement, the top of the fib grid is at a new high, so 0.0% level is lined up at the level of the new high. so if in a potential short trade (or fib extension) would the grid be flipped? IOW 0.0% lined up w the new low?

so ur saying I need to double my account before concentrating on quotas?

I have been writing up a trading plan lately, and it revolves around risk management and a point quota per week. 9 pts/ week starting w 1 ES contract, or 1 TF contract...and compounding from there..setting stops no more than 2 pt away. but Ive been thinking that some single trades may net 10 plus points...should I let my trades go if they have momentum and confirmation? or set a profit target no matter what? say 3 points per trade/trading day? also, can someone give me a link for learning fiboanacci retracements and extenions? I dont really think I need to learn all the details of fib, just how to measure the retracements and extensions on a 2-3 minute chart.

I have traded end of day in the past.. and paid for stop orders if hit (OTO), but never day traded live. so when day trading live, I only pay brokerage fees when my stop or target is hit? regardless of how many times I need to move them? Ill be using NT7 w CQG data feed...is there still a specific order type I need to put in when using this, like OTO, or OT2? or just buy sell and stop straight up? I have sim traded on this and never had to put in a specific order type, just buy sell and stop directly from the chart trading feature. it never prompted me for specific order type

I was surprised not to find any threads w abletrend in the title..anyhow..any experience w this indicator software? Im pretty much sold..I will be using it in ninja trader to help me daytrade the emini snp and emini russell 2000