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You have to pick your poison. You don't need to combine both. Either choose the method the guy you know uses or follow/create another. I think doing both is just confusing.
I think you add tools as you need them and then you will find you peeling them away.
Here is what I have learned that Henry doesn't teach.
1. Focus on the long term, find a setup possibility there and then work your way down. For instance, 100% ext, dt/db, 76 fib area on longer term chart (minimum 1597/4181).
2. Once you get near the area, look for the MACDBB setups to create confluence. See if you can find more confluence.
3. Already plan your exit before you click the button, you will have plenty of time because you will be waiting for it!
4. execute, rinse and repeat.
Remember, this is all about R:R, in that you are risking 5 ticks for at least 5-7 times reward. Getting out at 7 ticks is what has killed me for the last couple years. If you don't have a picked or identified exit then you are wasting your time.
I didn't do this today and it cost me some stress.....
As Judy/Roger told me once, Master the 1597 tick setups and then you will find the gold.
Try these for the templates and such. I can't recall the best way to get everything to you. My indicators won't export, but I think you have everything you need.
zip file goes in your NT7/templates/chart folder.
The tf.xml file goes into the workspace folder under nt7.
This should give you what I have.
Oh, and 'ouch!' could be removed from the name of your thread to something a little more optimistic. No matter what method you choose to trade, they all require balanced thinking.
I would second that advice, I also use a 1597 tick on TF along with a 2000 (you could use either one or both) they work very well...that's all you need really.
Yes, to most people the NFT setup is f-in scary no doubt and it confuses the mind. The trick with that many screens is using them as a pattern building system to help you understand the likely path of the instrument.
However, it could all be noise keeping me from longer runs. haha...
Yes, if you open up my workspace, you will see I also have open a 1597, 4181, 440, 50,000 on the right screen. I really only look at the left side when I am thinking I know the direction and where it will probably go. If you can do that you will do much better than me!
2. Change your workspace to remove volume unless you use it. You can figure out if there is life in the market by how many tick bars are created.
3. You don't need horizontal lines on your chart.
4. Your coloring is confusing to me. Too much emphasis on Keltner with contrast. It isn't easy to see price action to me on your chart screen. I would reevaluate your colors.
5. Simplify coloring on the MACDBB.
6. Don't use market. You can set up your DOM to have buy/bid, sell/ask. Options.
7. You spent more time chasing the DOM than watching price action. Chart trader is great to just watch the price action with your entry.
8. Take the KeltnerChannel(xx.x.x..x.xx) stuff out of the top left corner. Same on all your charts. Just more noise. Take scroll bars off the bottom too if possible. Something I didn't do on my main chart but just wasted space.
9. Your BB's are way too spread out in my opinion. Hard to read. I would not use such contrasting colors.
10. 987 was on the rail going up, didn't look short to me. Good job on trade management though considering your first trade. You can see though that jumping around with the DOM is just difficult.
11. Please take a look at Vovan's new setup. Very cool and groovy and highly advise using it.
12. Change the midpoint on the MACD's to just be one color.
So, my advice is good job on the trade, you seemed a little nervous and I don't blame you trying to chase the DOM. I think the DOM is good to have open but not to look at unless that is what you are using to enter. Just my opinion.
Your colors and things that you are looking at have a lot of 'noise'. I would clean that up. Simplify and build on that.
Keep going! Just my thoughts, pick them apart if you like.
Good video! You are a pro! I like your thinking. Very good descriptions!