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Attachments: Williams%R, SAR X-over 15 minute candles
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Williams%R, SAR X-over 15 minute candles

Best time frame for this strategy is 5M or 15M ?

Please let me know which one is more accurate ...
Howdy ,

I see that the original trading system from the 1st page has major changes during the time . Anyone is willing to share latest system configuration ? I would like to try it for a week to see how it works . Thanks
15 min or 5 min. either works mostly depends on what trader is more comfortable using, 5min will have more signals which is fine as long as you filter with pa. Generally I'd say you'll get bigger wins with 5min.
Yes original system under went some changes, mostly adding the 20ema and me switching to 5 min. candles. Systems help but ultimately it comes down to money management, price action and the trader. Here's 4 examples on 1 trade I took today from naked chart to more complicated they all provided me with same entry/exit, so is it the system or me? Took the trade using the most complicated chart. Why? Because it's one I'm developing for a friend who is more comfortable with complicated then simple. Now I'll look for a chart I passed on and explain. Give me a little time little to much Herradura Ultra last night.
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A chart I passed on with same 4 systems, not much in way a drawing trend lines or horizontal s/r mostly zones of consolidation to see.
When you trade you see a chart, you need to look beyond indicators to whether a chart is tradeable. So in my opinion the system can help but how a trader interprets PA is the most important thing.
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Today was a very good trading day BTW, FX with JPY pairs(which doesn't happen often anymore), futures with 6J, Oil, ES, YM and the RTY.
Final day of trading new system for my friend in NY, let's see if he can stick to the plan I set out for him. His biggest weakness is over trading. Today traded futures currency contracts as USD to a nice run up early, so looked for Divergences against the trend. In reality a pretty easy day. Indexes were pretty blah, sloppy so stayed away. Took a nice little win on oil again with divergence, also took nice wins on 5 and 10 year treasuries.
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Quoting rockypoint
Final day of trading new system for my friend in NY, let's see if he can stick to the plan I set out for him. His biggest weakness is over trading. Today traded futures currency contracts as USD to a nice run up early, so looked for Divergences against the trend. In reality a pretty easy day. Indexes were pretty blah, sloppy so stayed away. Took a nice little win on oil again with divergence, also took nice wins on 5 and 10 year treasuries. {image} {image} {image} {image} {image} {image}
Hey Rocky

I notice that in reviewing your posted trades from the beginning of this thread that an overwhelming number have the same chart pattern, a rounded bottom, then gradually prices start trending up and then a trigger for entry.
So I am wondering if this is a pattern you consciously seek out? Part of that is it seems that most of your trades are long, is that a preference as well?
I have been trying to emulate your success with little luck, need to find a method to having more patience. As your NY friend I tend to want to trade more than I want to avoid losses.

any thoughts deeply appreciated.

Keith
Kminler, Yes exactly those are my favorite charts to trade, look for charts where trend is fairly long, to catch a reversal, or charts where price may be trending but offer areas of consolidation for entry.
As for over trading, realize this, everyone does it on occasion, but if you do it a lot you won't be profitable. Every system will offer signals
for entry learning to use PA as final confirmation helps you learn patience.
I think this ThreeTenOscilllator is good for spoting divergence.maybe i try it out.
rockypoint watch only one time frame 5 or watch support / resistance levels on longer time frames?
Not a MTF guy myself, but there is certainly nothing wrong with it, my major concern is previous 4-6 hours as far as trend, S/R etc,
Yes I am liking the LBR 3/10, Don't love her other indicators, but this one looks good and she is a great trader. The LBR 3/10 and 5 ema are something I picked up reading about her trading and incorporated for my friend.
Quoting patricc
I think this ThreeTenOscilllator is good for spoting divergence.maybe i try it out.
Thing about using the W% for divergence is that it has fixed boundaries (as do many other oscillators). So in some charts the indi is just bouncing along the bottom because it can not go any lower than it did some 2 hours earlier. I tried to use the Macd to approximate the zero crosses of the W%.

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Good Trading
Today the US and GB banks are closed.
It's also Monday
the market might be a bit strange
Quoting aud
{quote} Thing about using the W% for divergence is that it has fixed boundaries (as do many other oscillators). So in some charts the indi is just bouncing along the bottom because it can not go any lower than it did some 2 hours earlier. I tried to use the Macd to approximate the zero crosses of the W%. {image}
Are you using Mladen's halftrend setting 2?
Thanks.
i removed all bla bla indicators just clean chart give more easy visual of picking trades, done for the day
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Rocky, you can correct me if I'm wrong here but I think too many people are spending time focusing on indicators here. Truthfully, I don't even think you really use the indicators on your chart aside from maybe the moving average lol. I think people here are looking for more of a mechanical system when in fact there's a huge piece of discretional trading going on here from the many years you've spent trading... I think an argument can be made that the indicators besides the moving average are pretty useless and price action/ letting winners run is what is truly making the successful trades.
Quoting MidnightRun
{quote} Are you using Mladen's halftrend setting 2? Thanks.
Yes. Just experimenting with the indi though.
Good Trading
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