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Mike, I appreciate your insight, and I will take more of a hard look at what you said about getting in right at bar close when the trade triggers. I have noticed that more often than not it will go against me right at entry before it goes in my favor. Obviously a timing issue that really needs a hard look.
Are those trend bars somewhere on this forum or are those proprietary as well?
Jeff
Can you help answer these questions from other members on NexusFi?
I see that it did not take you long time to see the VERY large interest in CL trading and to see the potential of selling indicators to new traders. GOOD LUCK.
CL is tempting to many traders, especially when they read posts in chat where some users seem to win every trade but never take any stops.
However, in reality CL is extremely dangerous, much more so than most instruments. My goal is to help traders and if you watched the video, you will see the very first thing I did was attempt to dissuade inexperienced traders from trading the CL due to its extreme volatility.
That being said, yes CL presents a lot of opportunities each day so for experienced traders it can really be a fantastic instrument. As for selling indicators, yes I do believe that I am entitled to not be required to give away my work when I chose not to. If, after reviewing all my blogs, forum posts, videos, free indicators, and all the other resources I've given away for free, a user wants to buy an indicator of mine to save himself the time and trouble that I went through to create it, then I think it is a mutually beneficial prospect.
We need a discussion on Murrey Math and implementing it into your trading.
I know many of you had not heard of Murrey Math Lines (MML) prior to reading my blog or this forum. I must also admit I only recently discovered it, so we will all learn together!
You might have talked more specifically about this elsewhere but I haven't found it yet. When you look at the higher time frame are you just looking at which direction the trend is in? Or are you looking at whether the higher time frame is overbought/sold? Or just checking how close it is to resistance? Any tips you could give would be appreciated.
Check out all the videos on my blog, I go into a great deal of detail over hours of videos.
Short answer: Big chart is mainly for trend direction but with that clearly price plays an important factor in how close it is to the reversal area of the 'trend' line.
One thing I'm looking at for my strategies is instead of a fixed static target, base it on volatility conditions, like ATR, or a StdDev of price distributions, et. al. Another thing is that instead of having a preset target, set a target that turns into a runner once reached. For example, set a target of 20, and once it reaches 20 turn your stop into a trailing stop, or exit position if it cross over a fast moving average, or when a momentum indicator tells you the trend is weakening, but only once the initial target is reached. Until then, your stops and targets stay put.