Williams%R, SAR X-over 15 minute candles

Patricc, Hang in there and keep on working at it!
It took me almost 3 years and i am still not good at it, but much better than before!! The more you practise the luckier you get!!

Yes you are right.
I m in the game about 1,5 years .
I also thougt, i m sure need 1or 2 years more to become a profitable trader.
Patience is the key and never give up.

Passed on trading today. PA not to my liking. Plus really not in the mood today.

Took 2 index trades well actually 3, nice trade on YM, 2 trades on ES got stopped out on first trade, but reentered and got most of the loss back. 2 nice currency trades on 6E & 6J nice PA in my direction easy to let run.

London open
I did let it run to long.

would you mind sharing your tv indicator settings?

what´s the cloud?

EMA s 20, 50, 200
Ichimoku only the cloud
LBR 3 10 oscillator

Thanks!

London open

Patricc,

A question for you. You have both the Ichimoku and 200EMA on your chart. Both in day trading would be considered baselines, where if price is above you only take longs below only take shorts, correct? Have you looked at using only 1? Using just Ichimoku would probably offer more trades, 200ema probably less. You need to do whats comfortable for you. i know you had some over trading isuues at the start and you very smartly tweaked system to sloww thing down a bit. Just wondering?

Hello friends.

Per the request from Rocky and another member I have done a new test on this system using 5 minute candles along with some other requested criteria. It is still profitable!. Check it out and let me know your thoughts in the comments.

Another interesting test, winning % went up gains went down. From my point of view I don't see how this is ultimately successful as a fully mechanical system, it generates too many signals. Without being able to consider PA you wind up with too many trades that would've been tossed out. Example as you all know I've mentioned many times about not trading ugly charts and if you look at my charts you rarely see me take trades on anything remotely choppy. In forex I've never been able to just trade 1 pair exclusively for that reason because you need to find the pairs where the visual is tradeable. To have a truly successful mechanical system I think you need something that allows you to book some big winners and limit the losers to small ones.
As you know I don't trade this system to a specific TP(I keep 40 pips in my head) but I will get my share of runners and very often close trades for smaller profits. Anyway these videos have turned out pretty much as expected. I have always been willing to take a lot of singles over looking for the big wins(those will happen occasionally on their own). Bottom line taking 4 -6 trades with 10 to 20 pip wins is fine with me they add up.

Also thanks to Tradersland for giving me a new obsession a viable mechanical system. Never tried to do it before, let's see what happens.

I look on both ichimoku and 200 ema.But the main focus is the 200 ema.
i only take trendchanges above or under the 200.
It keeps me out from for beginners dangerous countertrend trades.
Ichimoku i look only as a filter for clean good looking trends.
I think to trade crossings of the 200 ema in the 5min time frame is still early compared to higer timeframes.in the 15 min it would be to late sometimes.
the 200 ema also help me to take the right tradingpair.some pairs already crossed some not.
Yes for me it s better to slow down a bit ,thats the reason wy i use the 200 ema.the ichimoku it s more like a fancy decoration, if i use the 200 ema.

Traded currency futures today very strong USD so easy ticks. Used Heiken Ashi candles today, as I've been reading about them lately.
Wanted to try live. Liked so far, but if you want to try them read up, definite difference from regular candles and you read them diiferently, especially wicks

The DX is a good tool to use for trading currency futures, as they will mostly trade in opposite direction DX trend(if any) of the day.

Boring day

Spending some time exploring some different things, keeps me motivated when I find myself getting bored and less focused.
I've looking the ADX as a possible filter for trade confirmation, also HeikenAshi Candles as an exit indicator, VWAP as a baseline filter. Traded the micro indexes using a different strategy today, it worked but it was a trending maket for most part, MNQ had a choppy start, so hard to tell. Trending is easy lots of thing s work, we'll see what happens with Ranging/Consolidation.

Also found this indicator called Better Volume, which looks awesome for the futures market incorporates 5 different colored candles that take into account volume and Buy/sell orders. You can read about it on FF, enter Good Better Volume Indicator in search.