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Hi All,
I'm putting this in my journal as it really is a simple indicator that most of you using NT7 probably could do yourself, but for those who don't like to program or would prefer to find one that works first: here are two of the same indicators that do nothing more than set the right margin on your chart.
The reason that I made this indicator is that I have tried everything that I can think of for my UniRenko chart to keep the right margin set. For some reason going into chart properties works for a while, but something in the combination of chart type and other indicators is keeping my right margin on my UniRenko chart from staying at 90 where I want it.
Okay lots of hot air...
Download either of these two indicators they are basically are the same except I have changed the name and all the programming to match. Monday will be my first day of full testing, but seeing as the indicator already is doing what I want I am not worried about it YET... If it blows up I will go back to the chalk board.
Oh I forgot also... Using the Risk / Reward indicator that I downloaded off NT7 site and that is one of the reasons I needed a right margin. At the end of the day the location of the Risk/ Reward horizontal lines really has no meaning as to what has happened during the day for me. It is just wherever I left them.
Chart with indicator loaded. Nothing special, but should hold right margin. Note: It will probably override whatever other setting you have in properties as well, so once loaded right margin should be set from this indicator.
Just one integer input needed, that being your right margin.
Okay brain fart yesterday. Like I have always said NT7 is like an erector set. I totally forgot that I can set it all up to work great using CME FUTURES ETH for getting just when ES trades. Will have to double check to be sure that I have the session template set right. Came to me last night while I was sleeping.
Just didn't have the energy to fully complete all today. We will see tomorrow. Busy distracted day today.
Good news repair to main drain at my house was only $200 and the new water heater is still to be determined, but it has been installed. I called Home Depot to express my concern over how things were done.
December first is our next trading day. I will be trading from December 1 - 12th this month. In February I have signed up for one on one trader's intensive trading to identify my blocks and refine my trading and life plan. Part of my homework is not to trade from the 15th on, plus redo my business plan, and spend time with my family until the end of the year. (Not that I won't after also, just no trading allowed.)
Hanging it all out here. Back into cash trading. Really excited about it. Helps that after one month I am net positive for the month. Okay need to point out this net positive was after me resetting where I set the bar on my cash account. I am down from the original 50K that I started with by well over half, and as I remember I even had to add to that account from my bank account. Yes cost of tuition. I have made just about every mistake a young trader can make, and believe me I will make more.
With all that said I am still excited about it all. On another account of mine I am down well over 100K on a single trade that I made in DRYS.... Yep I bought that dog at the highs. Then I held on rather than putting a proper stop in at $5 to be out with only a few thousand dollars loss. Oh well live and learn. With that trade I am the ostrich with my head along the ground at the moment.
I point this out as I've seen many comments over the years here about not full disclosure in journals. The account that I am journaling about trading now is my cash "Trading" account. All of my other accounts are IRA's and other accounts that I will be slowly working to incorporate into my trading routine.
There is something that I have learned over the years and is what I call Division of Focus. If I try to learn or do too many things at once then I will not be able to do any of them well. For that reason alone I have concentrated on learning to trade the ES. My plan is to work on becoming a more consistent trader. I have paid for both education in the school of hard knocks and in formal trading schools. Will continue to pay for both, but plan to do my best to keep the cost of tuition at the school of hard knocks down to a minimum. Okay enough said there.....
NT7: Wow what a powerful platform. I feel like I could spend the rest of my life and not have this platform truly mastered as there is so much to learn from it. I decided to take some time at the end of the month and have an objective look at my trading with NT7 letting the platform give me an analysis of my "Account Performance." I can have all sorts of ideas about how I think I am trading, but NT7 doesn't care and will tell me exactly how I am trading. I know I have to trade more to have all these numbers really mean more, but even now I am seeing the patterns emerging that NT7 is pointing out to me. Also will have to set more time aside to learn about what all these numbers truly mean.
Thanks again to @Big Mike for such a great forum and convincing me to start doing an online journal. I have tweaked it over the years and will continue as I learn more about this exciting profession. I still have loads to learn and need to make more trades. Thanks again.
By the way ChartScale is an indicator I was referred to help me with my problem of having my ES chart go to the .50 and .25 cent range when ES is flat. For some reason I psychologically have a lot of trouble trading when I see the .50 and .25 increments on my vertical scale. I have loaded this indicator on my three main trading charts we will see if it works as advertised. Personally I'd prefer to just have a setting for Minimum chart scale... Maybe NT8 right... lol
OOPS guess I did have to save in XLS format... My Open Office format not allowed....