It's better to be out wishing to be in... than to be in wishing to be out!
Swing Trades DAX/DOW/NQ/GOLD
- #3,883
- Sep 11, 2019 9:36am Sep 11, 2019 9:36am
- Joined Jul 2012 | Status: Trader | 31,792 Posts
It's better to be out wishing to be in... than to be in wishing to be out!
- #3,884
- Sep 11, 2019 9:39am Sep 11, 2019 9:39am
- Joined Jul 2012 | Status: Trader | 31,792 Posts
It's better to be out wishing to be in... than to be in wishing to be out!
- #3,885
- Sep 11, 2019 9:42am Sep 11, 2019 9:42am
- Joined Jul 2012 | Status: Trader | 31,792 Posts
It's better to be out wishing to be in... than to be in wishing to be out!
- #3,886
- Edited 10:13am Sep 11, 2019 9:48am | Edited 10:13am
- Joined Jul 2012 | Status: Trader | 31,792 Posts
It's better to be out wishing to be in... than to be in wishing to be out!
- #3,887
- Sep 11, 2019 10:14am Sep 11, 2019 10:14am
- Joined Jul 2012 | Status: Trader | 31,792 Posts
It's better to be out wishing to be in... than to be in wishing to be out!
- #3,888
- Edited 2:15pm Sep 11, 2019 10:23am | Edited 2:15pm
- Joined Jul 2012 | Status: Trader | 31,792 Posts
It's better to be out wishing to be in... than to be in wishing to be out!
- #3,889
- Sep 11, 2019 10:47am Sep 11, 2019 10:47am
- Joined Jul 2012 | Status: Trader | 31,792 Posts
It's better to be out wishing to be in... than to be in wishing to be out!
- #3,890
- Edited 2:51pm Sep 11, 2019 2:17pm | Edited 2:51pm
- Joined Jul 2012 | Status: Trader | 31,792 Posts
It's better to be out wishing to be in... than to be in wishing to be out!
- #3,891
- Edited 2:44pm Sep 11, 2019 2:20pm | Edited 2:44pm
- Joined Jul 2012 | Status: Trader | 31,792 Posts
It's better to be out wishing to be in... than to be in wishing to be out!
- #3,892
- Sep 11, 2019 8:52pm Sep 11, 2019 8:52pm
{quote} Never predictive. Predictions are killing in the markets. More a matter of experience where prices could stop or start to move. During the Day the markets move between %% levels. I take my scalp trades between these %% levels and not without succes I think. So, with scalping I use the %% levels calculated from the previous Day RTH close as start point and possible target of a scalp trade. Condition for a "regular" scalp trade is the break out above/below the Ichi cloud. Counter scalp trades I take often from the higher %% levels (1.0%/1.5%/2.0%...
I tend to be a little more finite with my entries & SL, as my signals come from a different set of indicators (that require precision). I do like that you incorporate scalping and swing trading using much the same style. I am yet to go down this path, primarily as I don't like being in trades that require extended screen time or require larger SLs. I shall now delve into the mechanics of your strategy a little more and see how many qns I can come up with
- #3,893
- Sep 11, 2019 11:51pm Sep 11, 2019 11:51pm
- Joined Jul 2012 | Status: Trader | 31,792 Posts
Trump delays tariff hikes by two weeks in ‘good will’ gesture to China
It's better to be out wishing to be in... than to be in wishing to be out!
- #3,894
- Sep 12, 2019 12:02am Sep 12, 2019 12:02am
Ok prepare yourself DD 
So I've been comparing your use of MA/Cloud to filter trades, to my own indicator filters, and funnily enough there are some similarities. Not too surprising I guess, since many indicators are just different representations of each other.
Anyway, this is great news! Especially when scalping, it's so important to pinpoint tradeable areas... I always aim to get better at this - with varying success lol
Ok so a few qns, I'm just brainstorming so excuse any confusion or unintended stupidity:
1. Why Renko? Isn't a candle (or candle close) just as easy to spot breakouts above the cloud? What other purpose do the blocks serve aside from showing price?
2. So if price is above both the MA and Cloud, or below both, you stand aside? If so, is this because it suggests OB/OS?
3. Can you explain your targets (trade mgmt) in some more detail, perhaps with a DAX scalp example? T1 is 1st target I presume, and so on? SL? (sometimes ur charts are a tad confusing esp when price is not displayed)... well to me at least
4. What does a counter-trend scalp trade look like (ie. when price is between the MA and cloud)? What becomes an entry trigger - pullback to cloud perhaps? And SL?
5. I've never heard this theory that big players only use % moves... where did u learn this?
6. Are your % levels pre-coded to appear on each chart?
7. I've recently started using pivots and found them quite useful - your thoughts on them and VWAP/BRNs (vs % moves)?
8. T3 is an uncommon, quite complex indicator, and since you tweak this for diff markets/TFs, in lieu of using it, could one just play around with various MAs to get a feel for its use as a filter - or could you recommend a substitute?
9. And following on from that, any reason you use T3 instead of the traditional Chikou line? Smoothness?
Ok, I'll shut up for a while
Thx mate.
So I've been comparing your use of MA/Cloud to filter trades, to my own indicator filters, and funnily enough there are some similarities. Not too surprising I guess, since many indicators are just different representations of each other.
Anyway, this is great news! Especially when scalping, it's so important to pinpoint tradeable areas... I always aim to get better at this - with varying success lol
Ok so a few qns, I'm just brainstorming so excuse any confusion or unintended stupidity:
1. Why Renko? Isn't a candle (or candle close) just as easy to spot breakouts above the cloud? What other purpose do the blocks serve aside from showing price?
2. So if price is above both the MA and Cloud, or below both, you stand aside? If so, is this because it suggests OB/OS?
3. Can you explain your targets (trade mgmt) in some more detail, perhaps with a DAX scalp example? T1 is 1st target I presume, and so on? SL? (sometimes ur charts are a tad confusing esp when price is not displayed)... well to me at least
4. What does a counter-trend scalp trade look like (ie. when price is between the MA and cloud)? What becomes an entry trigger - pullback to cloud perhaps? And SL?
5. I've never heard this theory that big players only use % moves... where did u learn this?
6. Are your % levels pre-coded to appear on each chart?
7. I've recently started using pivots and found them quite useful - your thoughts on them and VWAP/BRNs (vs % moves)?
8. T3 is an uncommon, quite complex indicator, and since you tweak this for diff markets/TFs, in lieu of using it, could one just play around with various MAs to get a feel for its use as a filter - or could you recommend a substitute?
9. And following on from that, any reason you use T3 instead of the traditional Chikou line? Smoothness?
Ok, I'll shut up for a while
Thx mate.
- #3,895
- Edited 1:25am Sep 12, 2019 1:04am | Edited 1:25am
- Joined Jul 2012 | Status: Trader | 31,792 Posts
It's better to be out wishing to be in... than to be in wishing to be out!
- #3,896
- Edited 5:21am Sep 12, 2019 1:22am | Edited 5:21am
- Joined Jul 2012 | Status: Trader | 31,792 Posts
Ok prepare yourself DD
To many Qs to answer in one time/Day. Got some trading to do Today.
I will answer the most easy Qs first. Rest comes later.
Q1: Renko is very simple. My MA line(s) and Ichi indi work very different on Min. bars. The calculation on Renko works better for me then Min. candles. So I picked the Renko and I work for a long time with Renko already.
On CFD IG platform I watch Miunte candles without any indicator. Renko charts are leading.
Renko shows price moves only. Whole Day at same price level plots one Renko brick @ the same price level only.
Minute candles show every X Minutes a new candle. Whole Day at same price level plots dozens of MInute bars @ the same peice level.
So very different calculation for indicators on Renko or Minute charts.
Q2: I didn't say I stay on the sideline when the price it above or below the cloud.
I'm just more prudent by taking trades when the price is to far away from the cloud ot MA line.
The market decides if its overbought/oversold. Not the price in relation to an indicator.
Q3: My charts are not confusing (for me anyway). All the necessary info on 1 chart. MP levels/%% levels/Ichimoku and MA line.
Thats all and enough to trade.
Price is always shows on the right side price axis.
T1 = Target 1. Once reached I can move my SL to BE or set my SL (at T1 gained points) below my entry.
Next targets (T2/T3) are most of the time %% levels or MP levels. No shame to take profit there, (even if it goes 100p more after my exit).
Q4: Counter trades I take from %% levels most of the times. 1.0%/1.5%/2.0% and up/down to the next %% level.
Q5: Learned that from a prof. trader
Q6: Yes. Pre coded. New Daily %% show up every new Day. Weekly %% every Monday morning.
Q7: VWAP/BRNs (vs % moves) All usefull as targets/poss. reverse points
I don't use Pivot points. Everybody is using them, so Tnx No.
Q8
T3 Moving Average indicator was originally developed by Tim Tillson in 1998/99.
T3 Moving Average is considered as improved and better to traditional moving averages as it is smoother and performs better in trending market conditions. It offers multiple opportunities when the price is in the state of retracement and therefore allows to minimize your exposed risk and allowing your profits run.
It incorporates a better smoothing technique which allows you to display curves gradually and with a smaller lag opposed to standard moving averages such as EMA, SMA, SMMA and so on.
T3 smoothness comes from calculating weighted sum of single EMA through EMA 6 times,
When trend is formed, price will either breakout upwards or downwards and stay above(in uptrend) or below(in downtrend) during most of the market progression and when the price touches the line because of the swing, this allows you to have a better trading opportunity with minimized risk exposure, additional entry and higher probability to profit.
When the price closes above T3 line, it is considered to move upwards and we have a Bullish trend, therefore you should only look for Buy (Long) entry trades.
When the prices closes below T3 line, it is considered to move downwards and we have a Bearish trend, therefore you should only look for Sell (Short) entry trades.
T3 can be used on all timeframes and on any currency, commodity or stock market.
Indicator can be used for any style of trading. Whether that is scalping, intra-day, swing trading or long-term trading.
https://tradestation.tradingappstore...erageIndicator
Q9: T3 is much less re active/less noise then any other indicator. Perfect for Swings.
I use Chikou too, for scalping purpose.
Chikou has nothing to do/nothing in common with a T3 MA line. You can't compare them.
Watch the Ichimokou video on page 1 to learn the story of the Chikou line
That's enough for Today
It's better to be out wishing to be in... than to be in wishing to be out!
- #3,897
- Sep 12, 2019 2:09am Sep 12, 2019 2:09am
- Joined Jul 2012 | Status: Trader | 31,792 Posts
It's better to be out wishing to be in... than to be in wishing to be out!
- #3,899
- Sep 12, 2019 2:24am Sep 12, 2019 2:24am
- Joined Jul 2012 | Status: Trader | 31,792 Posts
- Purchasing Managers’ Indexes for Europe show a stabilization, albeit the weakness persists in the industrial space.
- The question is if and when the spillover will happen to the service sector and to the labor market — especially in the larger economies like Germany and France.
- Even though critics are getting louder and louder questioning the effectiveness of further easing, Draghi is getting more and more vocal about weaker-than-expected inflation.
It's better to be out wishing to be in... than to be in wishing to be out!
- #3,900
- Edited 5:23am Sep 12, 2019 2:29am | Edited 5:23am
- Joined Jul 2012 | Status: Trader | 31,792 Posts
It's better to be out wishing to be in... than to be in wishing to be out!