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I have read all and each posting in this thread and found this to be a most interesting and informative story to find a simple, high probability trading method. It is indeed interesting that you have returned almost full circle - perhaps this reflects the journey as a trader or perhaps it is a realisation that trading is not really about the entry but more about the exit and making profit. We as traders seem to spend a lot of time trying to define our entry in an endeavour to get in earlier and earl;ier but we ( include books, gurus etc) spend somehat less time looking at money management, risk and position sizing.
I have really enjoyed your journey and it has helped me to fine tune my approach (although I did not find the sharkfin paintbars too sucessful on NT7). My overall approach has been based on a MA crossover with stochastic agreement and entry close to the crossover. I have been using a 4R nogap or a 3 min chart for the 6E, 6B and CL. I trade with a 12 tick loss and a 6 pip profit or if countertrend trading I trade with a 4 tick target (one never knows where a CTT will go !). I do not worry so much about ticks or dollars preferring to focus on making all trades successful trades.
I guess the bottome line is that any approach from tossing a coing to elaborate trade strategies will all get you intot he market the test of areal trader is how well we manage the trade once we are in the market and the only real answer here is to minimise losses and maximise gains.
Anyway ,I just wrote to say many thanks for your thoughts, ideas and guidance and for the enjoyable journey.
Regards and good trading
Months ago I wrote this post ( talking about Random entries and focusing on the exits.
I never got around to writing a strategy, until now.
The idea is simple. The random generator gets us into trades randomly and also determines the direction randomly.
From …
. Very enlightening stuff on the idea that what we do after entering a trade is more important than the entry itself. It may change the way you think about those 2. They aren't mutually exclusive. At least that's the way I read that thread.
Hey guys don't know if its way to late to respond to this discussion but here's my 2 cents. There is something
called TRENDS it happens everyday. Not believing in trends is like saying there is no trend in fashion. Everyone
here working on indicators are like designers trying to find the next trend. When a designer creates something hot
and it becomes a TREND, he makes tons of money. Soon other designers follow that TREND and bank off it.
I think thats what we are trying to do here with these indicators dont you agree? Tro?
I use some of the indicators made here and it has helped in my trading a great deal. I commend you guys keep up the amazing work.
Tro has some good indicators as well, i use one of them on my 1min chart.
To me simple is better..... I don't want to look at too many indicators. Besides, all indicators are doing is telling me is what the price is doing so.... why not learn to read price action? Some of the tools that help me do this are the 50 EMA and …
To me simple is better..... I don't want to look at too many indicators. Besides, all indicators are doing is telling me is what the price is doing so.... why not learn to read price action? Some of the tools that help me do this are the 50 EMA and …
For the first i couldn,t figure out/find the indicator at the bottom. And for the second one I have download the template, but it doesn´t work with NT7.
Just wondering if SKID is still using this pattern #1 of Kevin's.
Seems sooo nice and simple; also if SKID or CORY could advise when best you cancel your order (or do you..?) if there is no quick breakout after the 15 mins....??
Tkx
Sorry for the late reply........some how I missed the post......
In the first pic that you posted.........that is one of the first versions of the CCI that TMFT made for me.......that CCI study resulted in a new thread entitled Jeffs CCI which was recognized in last years nexusfi.com (formerly BMT) best of voting. I still use the CCI today (among other things)......it looks a bit different.....but the same principles apply.....I'll post a pic. the indicator that I use is the CCI4Jeff_Betav8_SMA.......I'll post it for you in the JeffsCCI thread.
The second pic has three things.....two moving averages and a paint bar study......I would guess that the moving averages are 20/50 EMA with the Sharkfin paint bar.