Congratulations ScalaFX for coming out of the closet!
, anyone?...
I am using Sierra Charts
P&F charts with a 3pip box size and the 3 box reversal.
Initially ,I started out with a very simple system. I would wait for a 3 box break of the previous column ,ie 3 box break above the previous column of x's or a 3 box break below the previous column of o's.
Then ,i would follow a standard elliot wave count
(eg) if column that produced the initial 3 box break = wave 1 , id wait for wave 2 for a buy or sell, then take profit on wave 3, wait for another buy or sell on wave 5 and take a final profit on wave 5
There are additional rules such as how to end and start a new elliot wave count and exceptions to the traditional elliot wave rule set.As this is a fractal based system, your count could be part of a larger fractal.
I also began to realize that being part a of fractal based trading system, the wait n hope scenario came up often n also more then often did prove profitable, however on occasions when it did, losses were extremely large
I tried implementing a stop loss system, but most compromised on the fractal system, ie close to early ....then there would be a pullback OR close to late in which there would have been no point in putting a STOP in the 1st place.
Anyways as i learn't from experience , fractals can form a multitude of possible patterns , n fractal following is not feasible.Our universe is supposed to be governed by fractals or ordered chaos ,which is still very much chaotic.
I have currently moved on to a market profile approach, I still use the same setting s 3pip boxes and 3 box reversal. It seems to be working out quite well. I would however like to supplement my system with money market data, realtime data for the US 3 10 30 year treasuries as this would give me n idea of market risk sentiment. I would also like to be able to have data on any large currency options from institutional traders.(Deutsche Bank, UBS AG,Barclays Capital,etc etc etc)Can someone pls help me locate a cheap data source?
I know that bloomberg terminal or futuresource workstation would have this information + more ( eg prices of other metal , ie copper another good market risk indicator).But subscription prices to their services are premium and not for a small guppy like me, as of yet
P&F charts with a 3pip box size and the 3 box reversal.
Initially ,I started out with a very simple system. I would wait for a 3 box break of the previous column ,ie 3 box break above the previous column of x's or a 3 box break below the previous column of o's.
Then ,i would follow a standard elliot wave count
(eg) if column that produced the initial 3 box break = wave 1 , id wait for wave 2 for a buy or sell, then take profit on wave 3, wait for another buy or sell on wave 5 and take a final profit on wave 5
There are additional rules such as how to end and start a new elliot wave count and exceptions to the traditional elliot wave rule set.As this is a fractal based system, your count could be part of a larger fractal.
I also began to realize that being part a of fractal based trading system, the wait n hope scenario came up often n also more then often did prove profitable, however on occasions when it did, losses were extremely large
I tried implementing a stop loss system, but most compromised on the fractal system, ie close to early ....then there would be a pullback OR close to late in which there would have been no point in putting a STOP in the 1st place.
Anyways as i learn't from experience , fractals can form a multitude of possible patterns , n fractal following is not feasible.Our universe is supposed to be governed by fractals or ordered chaos ,which is still very much chaotic.
I have currently moved on to a market profile approach, I still use the same setting s 3pip boxes and 3 box reversal. It seems to be working out quite well. I would however like to supplement my system with money market data, realtime data for the US 3 10 30 year treasuries as this would give me n idea of market risk sentiment. I would also like to be able to have data on any large currency options from institutional traders.(Deutsche Bank, UBS AG,Barclays Capital,etc etc etc)Can someone pls help me locate a cheap data source?
I know that bloomberg terminal or futuresource workstation would have this information + more ( eg prices of other metal , ie copper another good market risk indicator).But subscription prices to their services are premium and not for a small guppy like me, as of yet
by the way hi Puma this is me dfptommyj, i have changed my nickname along with new trading aproche, thank you again for your hard work...
.......hello everyone, maybe we should start actively exchanging views on intraday p&f trade setups, post our charts opinions, make this thread more alive and busy , anyone?..
Nice PnF reconfiguration(block colors
) At the moment i dont see any good setups, still waiting for something better. Oh, and now i am looking only on E/U pair.
I suggest you me and others must choose pairs , which are suitable for PnF charting. Then give any signals and notifications which you will see on the PnF chart to "group" work.
Friends, what do you think about it?
p.s. Tomek maybe you are from Poland?
