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June 2nd, 2011, 01:19 PM
Holland, Michigan
Experience: None
Platform: ninjatrader
Broker: CQG
Trading: Acoustic Guitar
Posts: 1,617 since Jun 2009
Thanks Given: 23,764
Thanks Received: 5,616
cjbooth
Hello @cjbooth ,
Could you point me to the tickcounter 2 for NT7.
TIA,
Rick
June 2nd, 2011, 01:26 PM
aurora,il
Posts: 319 since Aug 2009
Thanks Given: 134
Thanks Received: 1,405
trs3042
Hello @
cjbooth ,
Could you point me to the tickcounter 2 for NT7.
TIA,
Rick
here you go Rick
TickCounter2.zip
June 2nd, 2011, 01:34 PM
Naperville IL
Experience: Intermediate
Platform: ninjatrader
Broker: NT broker
Trading: NQ ES 6E GC CL
Posts: 963 since Feb 2010
Thanks Given: 1,189
Thanks Received: 662
cjbooth
I think as important as it is to know when to trade it is more important to your survival as a daytrader to know when not to trade
Look at these
points on the posted 1508 chart
#1 1st higher low after extended vertical move up, the market usually goes into a pro longed period of congestion after a vertical move
#2 congestion period is confirmed by a lower an almost immediate lower high
#3 barely a lower low , price is lower than point #1 but barely inside a thick blue cloud telling you that the cloud should be strong support
#4 Lower high, retrace went back above cloud slightly. the point of Point #4 is at 7:55
cst if you look at at your 377 chart you did get a hidden
divergence short signal there. I did not take this trade based off of basically sideways
price action in front of it
#5 A stronger lower low deeper in to the cloud seeing this you will want a retrace back to the top of the cloud or the MA
#6 The retrace did not hold and price went up and made a higher high
#7 Again after price makes a higher high at point 6 now price blows through and makes another lower low. pay close attention and notice that this lower low stopped on the bottom edge of the cloud to the tick
#8 A lower high at the top of the cloud but also above the MA, this occurs at 9:00 cst looking at the 377 chart you see that any potential short trade has failed as ZIgZag makes a higher high as does Stochastics
#9 a higher low without a higher high in front of it, so this basically breaks the downtrend cycle and nothing else
#10 price makes a higher high by a tick
#11 price makes a
double bottom with point #9 which is also below the cloud. I also want you to notice how thin the cloud is here at point #11, This is an indication of very low
volatility in the market which is generally needed for good setups
#12 this is a
double top as no candle closes above the high of Point #10. Also notice that when price is going up the cloud is turning red and expanding. Again a sign of no volatility or at least not enough of it
#13 the low of another vertical move down with no retraces in it to trade. This move was a news driven move (refer back to my post yesterday about trading news) based off of oil inventories
Attachment 39944
Also notice on the 1508 chart the horizontal line I have at 1.4400. I put these lines on the 1508 chart at the whole #'s as the market reacts at these points. You will notice that the vertical down move stopped there to the tick. You want to be aware of where the whole #'s are and consider avoiding trades that must go through the number for you to make profit
Charles
charles, please see chart, is the line 50% of last vertical move? thanks
June 2nd, 2011, 01:59 PM
okc
Experience: Intermediate
Platform: ninja
Trading: cl
Posts: 77 since Feb 2011
Thanks Given: 66
Thanks Received: 20
This trade was very close to your cuttoff time of noon. Would that make you more reticent to take a trade?
June 2nd, 2011, 02:05 PM
aurora,il
Posts: 319 since Aug 2009
Thanks Given: 134
Thanks Received: 1,405
deanoky
This trade was very close to your cuttoff time of noon. Would that make you more reticent to take a trade?
My cutoff time is not based on market tendencies, it is just that by then I usually have made enough money by noon
Charles
June 2nd, 2011, 02:11 PM
okc
Experience: Intermediate
Platform: ninja
Trading: cl
Posts: 77 since Feb 2011
Thanks Given: 66
Thanks Received: 20
cjbooth
My cutoff time is not based on market tendencies, it is just that by then I usually have made enough money by noon
Charles
That is great reason to quit!
Thanks so much for sharing so much information and so timely on this thread. I really appreciate it.
June 2nd, 2011, 02:12 PM
aurora,il
Posts: 319 since Aug 2009
Thanks Given: 134
Thanks Received: 1,405
traders,
this is a follow up example of my previous post concerning when not to trade
See this 1508 chart as price broke above 1.4500 and then came back below it to the MA. I will not take a trade if price has to go through a whole # for me to make money.
Keep in mind sometimes it will just blow through, but thats Ok with me - my thinking on it is let it be somebodies else's dime that tries to push price through I will wait for a signal above the # not below it
There are always standing orders at these numbers and you never know which side they favor
Charles
June 2nd, 2011, 03:18 PM
Holland, Michigan
Experience: None
Platform: ninjatrader
Broker: CQG
Trading: Acoustic Guitar
Posts: 1,617 since Jun 2009
Thanks Given: 23,764
Thanks Received: 5,616
cjbooth
Hello @cjbooth ,
The Tickcounter2 indie you gave me is for NT6.5, I can't unpack it. I'm using NT 7.06, any suggestions???
TIA,
Rick
June 2nd, 2011, 03:52 PM
aurora,il
Posts: 319 since Aug 2009
Thanks Given: 134
Thanks Received: 1,405
trs3042
Hello @
cjbooth ,
The Tickcounter2 indie you gave me is for NT6.5, I can't unpack it. I'm using NT 7.06, any suggestions???
TIA,
Rick
Rick,
I know it was originally for 6.5 but it did import into my Ninja 7 and I am using 7.5 currently, you may want to contact the Ninja forum and see if you can find out something
charles
June 2nd, 2011, 04:29 PM
Concord, NH USA
Experience: Intermediate
Platform: Ninja trader
Broker: AMP/CQG
Trading: ES
Posts: 182 since Jun 2009
Thanks Given: 140
Thanks Received: 115
cjbooth
traders,
this is a follow up example of my previous post concerning when not to trade
See this 1508 chart as price broke above 1.4500 and then came back below it to the MA. I will not take a trade if price has to go through a whole # for me to make money.
Keep in mind sometimes it will just blow through, but thats Ok with me - my thinking on it is let it be somebodies else's dime that tries to push price through I will wait for a signal above the # not below it
There are always standing orders at these numbers and you never know which side they favor
Attachment 39970
Charles
Great teaching Charles, I like your style. I love the rule set that you developed for it also, everything is spelled out, awesome job. I'll be voting for you at the end of the month.
Jeff
Last Updated on October 5, 2011