Williams%R, SAR X-over 15 minute candles

Thanks for the help. If you were in 5 trades, what would your worst case scenario risk be in terms of %? I've been doing about 0.5% with a 20pip SL per trade (which is rarely hit).

Also, out of curiosity - which is your favourite strategy out of this one and the range bar + ichimoku focused one for trading fx?

Thanks again

the one you are using. your money mangement sound about right. just take into consideration what happens if all 5 trades go bad.

To whole point of indiviuals trading is finding your comfort level, which you seem to be doing.

I'm also looking into using this for some indices and gold/silver - would you make any adjustments to the system for those instruments or do you think it's ok as it is?

What kind of candles are you using time, renko, heikenashii etc.?

Just normal 5min candles at the moment, haven't really experimented much with other chart types. Am using the system how you originally laid it out with sar, 20ema, %r and PA.

Am open to testing other things

No 5min candles ok, Indices, gold money management becomes very very important, because indices especially can get very volatile and move very fast. At same time if you use very tight stops you will get stopped out a lot.

Ok great, thanks. I'll keep all the indicator settings as they are then and just reduce my exposure on indices and commodities.

What criteria do you use to determine whether a trend is too mature to get in on? I remember reading a comment from you on that but can't find it.
Thanks

Another day, another 25 tick ES profit. Again, I don't usually view the candles in this way but it is the only way I can get Ninjatrader to display the entry and exits properly using the renko+Heikin Ashi candles.

I know you are asking rocky and I hope you don't mind me offering a response as well.

I use the 14 period +DI/-DI. I find the 14 period is less noisy/whippy than the 8 period, and I use it to determine 1) which signals to take (I only take shorts when -DI > +DI, and I only take longs when +DI> -DI), and 2) so long as the prevailing trend is intact, i.e. so long as there has been no DI cross, I will take second, third, fourth entries.

Here is an example from this morning. I posted my ES trade in a post above. Here is how the chart looks from my perspective and how I trade rocky's system:


You cannot avoid losses with this system. My signal criteria got much better, however, after I started using the DI's.

I spent a lot of time, many days and weeks, just observing PA using these candles, the EMA's, and the other indi's rocky uses. After a while, you will start to see certain patterns emerge and repeat. Use those patterns to define your set ups.

I also use the swing indi levels. Look for the market to break a pattern of high high/higher lows for shorts (or double tops) and for the market to break a pattern of lower highs/lower lows (or double bottoms) for longs.

Last post for me today, at least until later, as I have made my daily goal and it is time to enjoy life.

This is what I referred to in the above post as an example of just one recurring pattern (there are a few others as well). This is basically a little double top bear flag at a swing resistance level. Enter per rocky's rules and even if you exited at the first doji it was worth about +20 ticks on the ES ($250/ES or $25/MES).

This system "works" but whether you can make it work for you will depend entirely upon you and the effort you put into it. I'd suggest anyone trying to learn this pick just one trading instrument and spend some weeks just watching the market, not even paper trading. These candles are different from ordinary candlesticks. They take some getting used to - at least they did for me.

I decided to try vidvad's DM with my own setting, still requiring ADX crossing above 25. I like changing things up a little once in awhile, it keeps me from feeling stale. Worked fine, hit a 30 tick target. Market not very voltile today.

When I talk about feeling like I would be chasing, it's not about overall trend it's about a specific move up or down. A sharp move up or down with no pull backs or area's of consolidation to make entries

Ok I see where I might make more trades with this chart set up. Let's see where it takes me. Definitely not a trade I would've taken on my old chart because ADX
is falling at entry but it turned out OK.

Hello Rocky and Subs...I post here very rarely but here it go's ...my wife is from Ukraine - I call this trade "Precision Strike" on Dow Futures 5 min

Ok final trade of the day. With this chart there was 1 trade I take with this chart or my normal one, 2nd trade I wouldn't take with normal chart and third I probaly would've taken with my normal chart. So for today it worked fine, we'll se what happens over a few days.

Thanks again for the help.

How important would you say analyzing the currency strength is to trading this successfully?

Again, I Know you want to hear from rocky and I hope you don't mind me answering as maybe my answer will help someone else. I pay no attention to anything except price action and the indicators. This is really not a discretionary method as I trade it. The conditions for a trade either exist or they don't. If they exist, I go for it.

I am on a discipline building exercise to stop trading after closing 25 ticks of ES profit. At the moment the plan is to take it one week at a time. However, I still watch the market all day. All you need is rocky's method. It is very different from what he had shown at the beginning of this thread, imho. Currency or market strength is determined and indicated by price and the indi's. Keep it simple, and this will pay off for you.

Depends on what you are trading. If your trading indices no. If you are trading FX yes it's something to consider. I trade mainly the Euro, so I keep a close eye on the DX futures. DX up Euro down and vice versa. Now I also trade the GBP a little also tends to move opposite of DX. The MXP doesn't move as closely with the DX very often not at all.