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Hello, yes, I might be later than others because I need also confirmation on 4 AND 8. And by the time I press BUY MARKET and confirm the price might have jumped already also. Sometimes it's a very fast game. I don't only use the perry system I like pullbacks for confirmation and combine it with support/resistance, general technical analysis and previous/highs low to be in a as high as possible profitable trade. I don't think that's wrong. That's why I believe that day trading like we do should be non-automated but done with common sense. Don't search for a holy grail, you will need all the knowledge you can get IMHO to be succesfull. The perry system helped me alot with my major demon : overtrading.
Can you help answer these questions from other members on NexusFi?
Was very helpful to compare charts. Looks like mine are setup the same as your's which is the same as what's described in post #70. So that's nice to know. Also, looks like my entries match your's pretty closely. Minor differences in a couple cases probably due to slippage. Bottom line is it seems as though I'm on track.
Don't see any mention about CL. What are your thoughts about trading times for CL? My experience is that between 8am and 11am are pretty much it. Seems that a move happens at 8 am, 9 am, and then between 9:30 and 11:00.
Bar B in the ES, 4 Range chart seems to meet 6 conditions of Trading Method 1-short, except ADX reading is 19.21 (close). My questions---
A. Would you take this trade at the close of Bar B?
B. If you did not take Bar B as Setup bar / Entry Bar, would you take Bar C as Entry Bar either during the Bar C is forming, or, at Bar C close? TIA! Good Trading to You All!
I have explained it a number of times in the thread, to watch the angle of the ADX. Even though it is below the DM and is defined as "CHOP", when you have all the other indicators in line, and the ADX STARTS turning UP, you can take the trade. So B is OK or C is OK.
Slope of EMA (5) from Bar A to Bar B is down,
Slope of EMA (5) from Bar B to Bar C is flat,
Despite ADX doesn't seem to agree, may I make conclusion that the EMA(5) line have gone down 3 bars (Bars A,B and C) toward the EMA (20); thus, Bar C is the Setup bar for Trading Method 2, Long? TIA!
C is your setup bar. When looking at the EMA 5 , you do not consider a FLAT EMA 5 as part of the count. You are looking for a least a 2 bar up move, and if it has not gone down for more than 2 bars we are still in the upward move.