Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Can you tell me if you would enter a new trade if all conditions are met on method 1 but the ADX is > both DM+ and DM- and the box on the top right of chart says "end trend"? Also when you trade 6E, what charts do you watch and do you use a trail to catch the bigger moves?
Thanks,
Susan
Can you help answer these questions from other members on NexusFi?
When able would you please tell me if I read your rules correct way
Short
1. 5 EMA down at list 2 bars
2. 20 EMA down or flat
3. ADX going up and DMI+3a is red
4. Force Index is red
5. Entry the Lowes Low one tick below of the last 5 bars counting an entry bar.
In the case you described, you are probably aprroaching the end of the trend, so you must be careful, and also look for a possbile swing high to your left, or another resistance like murrey math, pivots etc. Best ot then wait for a retrace and then enter. It is difficult for me to explain something in theory without seeing an actual chart. I watch the 6A, 6E, 6B, 6S, 6J, Tf, EMD, NQ,
I use min 2 contract, 2 contract is the trailing one to catch the bigger moves
Perry, Does this mean you don't have a set T2 for the 2nd contract? Do you just use a trailing stop and watch price action to decide when to exit? I have my targets set for 4 & 8 pips. As you are so much more experienced, I was wondering how you manage the runner.
To start out with, use a set T2 stop for the 2nd contract. A 4 and a 8 is fine. When you get more confident you can move your SL to BE+1 after 5 ticks and then watch the runner.
When able please reply. I just need to make sure I got method 2 correctly. Do I need to have DMI+3a to be red and ADX green going up for the short entry?
The long I would say is going to be a reversal. The DMI+ is going to be green (light) and ADX is going up green.
Both in method 1 and method 2 the DM and ADX are used in the same way. When the DM+ (Blue) is greater than the DM- (Red), we are going up, and when the DM-(Red) is greater than the DM+(Blue), we are going down. The Adx is used primarily to show when there is CHOP i.e. ADX is LESS than BOTH the DM+ and DM- and is depicted as Yellow. When the ADX is GREATER than BOTH the DM+ and DM- this predicts the end of a trend.
All these explanations are in the thread, so I recommend you reading the thread more thoroughly.