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Charles - I think the LIFFE got sent your blueprint for how to run a trend last night. Too bad I slept all night but it looks like it was a profitable one for 6E traders with this strategy. I haven't looked more closely at the 377 yet but it looks like 5 or 6 potential setups on the 1508. Highlights the importance of patience for me...
Hi CJ,
Great thread and thank you sharing! I was wondering if you have time to look at the YM and see what fits for any 2 time frames that you would feel comfortable trading. I am looking at 144 and 576T charts. I trade a similar retracement, but your usage of the higher time frame to me is perfect. I must admit my patience is not a yours...but looks like I have somethings to work on to get my % higher. Once again, Thank you...for taking the time to start this and say with it. take care,-mark
If anyone wants an indicator that will plot a semi-transparent rectangle on your chart, I have created one! So you can define the upper and lower limit, the width of the box as well as set the transparency of it.
So you can see if your entry will have your stop where you want it.
Maybe something that would be interesting to have is the possibility to place an horizontal line to trigger an order to buy or sell accordingly when price crosses and closes on the other side of this line. With the possibility to set a tolerance value in case the close occurs too far from the line. This way we could align a line with the top or bottom of the cloud and we would let the software do the rest, ie, trigger a buy or sell if price closes above/below the line no more than a certain distance away from it. That would be a nice addon for this strategy. To cancel this function we would just need to delete the line from our chart.