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I was getting good results on it on Sim with 3 contract scaling 3,7,10 tick targets few months ago. Lately I have been using it live but using a 6-8 tick stop been aiming for 6 ticks on 1 contract has been working okay few stop outs to the tick. On early morning breakouts lets you jump in and trail it pretty good. To me its work best on holding on to a breakout. A good way to refine the entry is to look at a small tick chart like 233 or 337 and look for areas of support and resistance and pay attention to other key levels like overnight highs previous day close unfilled gaps.
I am so glad to hear people are actually making money out there. Really gives the rest of us hope. I'm very attracted to Perry's method and may even consider starting a journal with it.
I think if you don't have a method already, Perry's is the best out there. I think there are too many indicators in his method but if it works, it works. I use something similar but without all the other indies......I find the price action along with the SMA's are enough. The indies at the bottom of the chart only confuse me. But thats me. I can't follow to many things at once. If the chart were time based, I think the extra idies would help but its not so I dont see the point.
Anyway, do look seriously at Perry's stuff. Its really one of the simplest and probably most effective long term.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
What time frame do you trade with AZ? If you don't mind me asking.
I have been wanting to try ranges, and volume but not sure which ones would work the best together.
I use a 4 range and a 35 tick chart on TF, 6 range and 55 tick chart on CL along with a couple of MA's and my fib lines. I just found some value in a 5 minute chart for both instruments. I swore I'd never use a time based chart again but I have to eat my words. There is a great set up look right after a swing high or low in this time frame that leads me to my tick chart for an entry. Again, all based on fibs and my MA for confirmation.
I know nothing about volume but I have seen some chart and they look good. Ranges completely eliminate time and only show price. I am starting to think a combination of time and range is probably best.
But hey, I am still on my journey and am not perfect. You need to find your own way.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris