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Thank you. It's good to hear of other folks' experience with strategies. I look forward to testing the tick strategy. I've been playing around with indicator settings today, based on a comment made yesterday, I've added another LBR310 to my chart with the default settings of 3,16,10, and a 3 period Sean's Average (just to check it out). I've attached a screenshot if you'd like to take a crack at setting up a strategy based on those. This won't work for an 'always in a position' strategy. I've set up an ATM strategy with a 30 tick stop loss & a 15 tick profit target. The rules are: IF the SMI2 is above its signal line (blue) AND the LBR310 (3,16,10) is above its signal line - GO LONG. IF the SMI2 is below its signal line (red) AND the LBR310 (3,16,10) is below its signal line - GO SHORT. Just playing around today to see how different settings affect things overall. Since the re-painting issue with the DoubleMAPaint_Sharky indicator was discovered, I've kind of backed off trusting the signals they give, and instead basing more of the decision making on the SMI2 / LBR310. Thanks for being a part of BigMike's community!
After all, it's what you learn AFTER you know it all, that counts!
I'm thinking its not going to work on every singe time the indicators say go short and go long. These indicators rock but you need to trade it manually because it takes a human to recognize the mood of the market, where the support and resistance area's are, the speed the offers fill in or the speed the bids fill in. you get the point. I use the indicators to help me time my entries and exits but they aren't 100% I almost got stopped out this morning on a trade cause the indicators gave a signal and i took it.
well what I didn't notice is that we where nowhere near a support or resistance level, we were just floating in no man's land, i was just watching the indicators to turn color. I ended up keeping my cool and getting 4 ticks on 2 contracts, but i had to sit through some pain. look at the chart i posted.
A better entry would have been up at 998 are where the resistance was! but look the indicators were pointing down and i sucked in. see how later we went up to that level and reversed? and notice how we broke the trend I drew. THATS WHERE TO SHORT! and use the indicators to help you get in the entry. Thats how i'm trading it today ! Thanks WIZ u da man
edit: one more thing. you have to manage your stops properly! honestly! my stop on this was nearly 4 points. I placed it over the previous resistance at 999.50! people with 2 point stops your going to get whipped out of the market everytime i promise. thats how the Market Makers get their money. read the chart if you can't take the pain you can't play . got to get back to trading see you all later
Check this out. I added an LBR310 (3,16,10 - default settings) to see how it compared to my (3,5,10) at the suggestion of other forum members yesterday and it seems to give fewer 'false' signals. Considering the bar re-painting issue with the DMAP indicators, I pay attention only to the SMI2 and LBR310 (3,16,10) It's been working almost flawlessly this morning on the TF.
RULES: IF the SMI2 crosses it's signal line & the LBR310 crosses its signal line, take the trade. I set an ATM strategy with a 30 tick stop loss and a 15 tick profit, which I manually move up / down as price moves. I've also added Seans Average to see how it looks.
After all, it's what you learn AFTER you know it all, that counts!
I find a indicator from Traders Lab. that looks like EOT allas Avg. If some one make some improvements, then it will be great addition to indicators family Big Mikes blog. I attach here some images as well as zip copy of indicator.
Links to images:
now that is interesting! I can't believe its just leaving bars off your chart like that! you have it on calculate on bar close "false" right? I assume you do, but that's weird
If you want to see how I traded HG today for +18 ticks you gotta go visit my blog. excuse the shameless self promotion