ProfLogic's Method

[Tams 20]

This thread is for the discussion of ProfLogic's method.

 

The method can be use on day trades, swing trades as well as long term trades.

 

Attached is an example of his chart.

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[Tams 20]

Here is his one page Trading Rule summary

 

(a long page!)

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ProfLogic_Intraday_Trade_Rules.txt

[brownsfan019 17]

Unless Tams can discuss the settings of the indicators being used, there's not much good in looking at screenshots or txt files. You need the settings or it's useless.

Edited February 18, 2009 by DbPhoenix
offsite reference deleted

[raven4ns 10]

Hi Bill,

Now look what you did. You told them you were a flyfisherman and knew that Raven4ns guy and they said leave, is that how it went.....ahahahahaaha. I'm glad the thread was moved here, the focus can be back on your methodology, once again.

Bill, thanks for sharing your knowledge, bud. There are a lot of people who truly appreciate it....even if you are a flyfisherman...lol. Now get your hinie busy over here and impart some knowledge. Talk to you later, bud.

 

Tim

[BlowFish 10]

Bill Schamp pretty much completely revealed the settings of his indicators and his methodology in the 'early days'. Mind you from memory its is essentially based on price action using an ergodic to categorise significant HH's and LL's.

Edited February 18, 2009 by DbPhoenix
off topic reference

[Logic 10]

Hi Bill,

Now look what you did. You told them you were a flyfisherman and knew that Raven4ns guy and they said leave, is that how it went.....ahahahahaaha. I'm glad the thread was moved here, the focus can be back on your methodology, once again.

Bill, thanks for sharing your knowledge, bud. There are a lot of people who truly appreciate it....even if you are a flyfisherman...lol. Now get your hinie busy over here and impart some knowledge. Talk to you later, bud.

 

Tim

 

Sorry Tim but flyfishing is DA BEST!!

 

I was asked to come over here so let's see if this is a more civil enviromment.

I'll post some of the charts later tonight.

[raven4ns 10]

Sorry Tim but flyfishing is DA BEST!!

 

I was asked to come over here so let's see if this is a more civil enviromment.

I'll post some of the charts later tonight.

 

Good man.

I hated that caterwauling going on because it distracted from what you were trying to explain. Plus the other members of the thread were learning, sharing and helping one another which was wonderful to see. Hell, even someone as dense as me might learn something...lol.

If I might make a request, buddy, friend, pal, fellow flyfisherman...lol... would you through in a stock chart every now and again, please? Perhaps something that most people could relate to like the QQQQ's would be suitable and help us relate to the action of stocks vs futures. Thanks again, bud, for everything.

 

Tight lines,

 

Tim

[DbPhoenix 42]

Just so the thread gets off to a good start, those who push commercial interests are discouraged. Those who make no sense and have no creds are, for the most part, ignored, and they die from lack of food. But those who are straight-shooters and answer questions clearly and sincerely are welcome and are even encouraged.

 

In any case, the atmosphere that pervades that "other" site won't be found here.

 

If I may, though, I suggest that you start at the beginning and not ask members to endure threads elsewhere that have an unbearable noise to signal ratio. You may be able to cover the gist of what you do and what you look at in only a few posts.

[Logic 10]

Just so the thread gets off to a good start, those who push commercial interests are discouraged. Those who make no sense and have no creds are, for the most part, ignored, and they die from lack of food. But those who are straight-shooters and answer questions clearly and sincerely are welcome and are even encouraged.

 

In any case, the atmosphere that pervades that "other" site won't be found here.

 

If I may, though, I suggest that you start at the beginning and not ask members to endure threads elsewhere that have an unbearable noise to signal ratio. You may be able to cover the gist of what you do and what you look at in only a few posts.

 

TAMS already got started there with the posting of the rules and now I will post a few chart giving the detail of the entry and exits. Today in the ES was a perfect example because it was such a crappy day. No one could every accuse me of cherry picking a day like today.

 

The first 3 charts are of the 2401 CVBS Bar Chart (Constant Volume/Share bar Chart) for today. I had to split them into 3 parts because I am traveling and did want to hook up my second monitor. The 4th chart is a longer term 823543 chart. It is a great example on why I prefer to trade longer term charts versis the faster intraday charts. Less noise and the slower charts. The slow chart here as well clearly shows the mass consolidation playing out currently on this bottom.

[elovemer 10]

... are we lost on this ....without CVBS ?

.... tick won't work ?

thanks

TAMS already gobottom.

[Logic 10]

Pretty much, sorry.

Tick charts are better than Minute charts but the difference is crucial.

Minute charts are the worst.

 

When I get home in a few days I will post a few chart that compare Minute Tick and CVS Bars so you can see the difference. Constant Volume/Share Bar charts are like High Definition viewing of price movement, direction & strength.

[Tams 20]

Here's today's ES 2401...

 

I have added the ZigZag indicator to the chart;

it helps you to visualize the oscillations.

 

 

 

you can get the ZigZag indicator here:

http://www.traderslaboratory.com/forums/f56/free-easylanguage-indicators-5418.html

 

p.s. This indicator is very sensitive. If you get an error message, you will have to reduce the strength a bit.

 

p.s. The indicator was written in MultiCharts.

If you are using TradeStation, please send me a PM. I will get one work out for you.

.

Edited February 14, 2009 by Tams

[Tams 20]

Unless Tams can discuss the settings of the indicators being used, there's not much good in looking at screenshots or txt files. You need the settings or it's useless.

The settings for the Ergodic Indicator are:

49, 147, 49

Edited February 18, 2009 by DbPhoenix

[Logic 10]

Thanks for helping in here TAMS. I'm in the middle of evaluating a software program and will be tied up for a couple weeks but will post as often as I can.

[Evolution 10]

Hi Prof,

 

On your swing trading example, I was wondering what kept you out of the previous three histogram oscillations before the short around the middle of August 08?

 

Thanks

Evolution

[Logic 10]

A PF must follow the Histogram Oscillation but before the Histogram oscillates back in the opposite direction.

[BlowFish 10]

PF? - Price Failure? I guess when you have been posting this stuff for years it is easy to forget that not everyone will be up to speed with terminology. It would be helpful with a new thread at a new venue to treat people as complete nubs and give a brief explanation of terms and concepts as they crop up. Mind you even with a well defined terms mis-understandings still crop up, thats a whole other story .

[DbPhoenix 42]

PF? - Price Failure? I guess when you have been posting this stuff for years it is easy to forget that not everyone will be up to speed with terminology. It would be helpful with a new thread at a new venue to treat people as complete nubs and give a brief explanation of terms and concepts as they crop up. Mind you even with a well defined terms mis-understandings still crop up, thats a whole other story .

 

I have to agree. The rules mean nothing unless someone is willing to explain the terminology, and no one can be expected to read thousands of posts elsewhere in order to decipher it all (and any references to the "elsewhere" will be deleted).

 

To start, what do the highlighted terms mean?

 

The Intraday Trade Rules!

 

Perfect Trade – Summary (Intraday Trade)

 

(In Trading Decision Chart)

1. Prime Trading PPF trade through to Prime Trading Breach.

2. Verify Histogram is in Prime but not yet oscillating.

 

(In Strength Chart)

3. Confirm Histogram is in Same Direction on Strength Chart, next slowest

chart. (This is for see the overall strength)

 

(In Entry Chart)

4. ERG Oscillation in Prime.

5. Look for PF Bar or Bars

6. Look for Confirmed Price Failure Bar.

7. Enter at the open of the Execution Bar (this is the bar immediately following the Confirmation Bar).

 

(Exit Position)

8. Exit Position Condition.

a. Any ERG or Histogram Oscillation in Prime, and PPF exit immediately.

b. Any ERG or Histogram Oscillation not in Prime, and PPF exit immediately.

c. Any ERG or Histogram Oscillation in Prime, and a Breach, Breach or Match PPF, you may exit on PF Bar sequence or Adjust Stop to Previous like Oscillation until Stopped Out, a Divergent/Convergent oscillation is created or a failed oscillation is created.

 

And so on.

Edited February 18, 2009 by DbPhoenix

[Logic 10]

PF? - Price Failure? I guess when you have been posting this stuff for years it is easy to forget that not everyone will be up to speed with terminology. It would be helpful with a new thread at a new venue to treat people as complete nubs and give a brief explanation of terms and concepts as they crop up. Mind you even with a well defined terms mis-understandings still crop up, thats a whole other story .

 

TAMS posted the rules and I forgot to post the PF images.

Simply ask and you will receive.

[BlowFish 10]

Thanks. As DB points out to attract the widest audience it might be good to cut and paste the definitions so they are early in the thread. Just trying to be helpful rather than a thorn in your side

[cosmic 10]

good to see u here prof, have a time in nyc

[Logic 10]

good to see u here prof, have a time in nyc

 

NY City was fun but Surf's get together was the best part. I got a chance to talk to a great group of traders and compare notes.

[brownsfan019 17]

I have to agree. The rules mean nothing unless someone is willing to explain the terminology, and no one can be expected to read thousands of posts elsewhere in order to decipher it all (and any references to the "elsewhere" will be deleted).

 

Just to clarify - is the new rule on TL that any link to elitetrader will be deleted?

 

I've posted plenty of links to ET on TL and they were never deleted. Now I see DB is policing this policy and I was not aware that it is against the rules to post a link to another trading forum.

 

So if someone could clarify the rules on posting links to other trading forums, that'd be great to clear up any confusion.

 

Thanks.

[DbPhoenix 42]

Just to clarify - is the new rule on TL that any link to elitetrader will be deleted?

 

I've posted plenty of links to ET on TL and they were never deleted. Now I see DB is policing this policy and I was not aware that it is against the rules to post a link to another trading forum.

 

So if someone could clarify the rules on posting links to other trading forums, that'd be great to clear up any confusion.

 

Thanks.

 

I suggest this be addressed with James and the other moderators.

[Logic 10]

Just to clarify - is the new rule on TL that any link to elitetrader will be deleted?

 

I've posted plenty of links to ET on TL and they were never deleted. Now I see DB is policing this policy and I was not aware that it is against the rules to post a link to another trading forum.

 

So if someone could clarify the rules on posting links to other trading forums, that'd be great to clear up any confusion.

 

Thanks.

 

Hey BF019

Nice to see you here.

I might have a solution . . . simply 'cut and paste' the post.