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trend catching with NonLagDot indicator

  • #2,161
  • Jan 29, 2016 6:07am Jan 29, 2016 6:07am
Quoting mk89
Very nice indicator. Thanks for sharing. {image}
​how are you using it mk89 ?
any special set up for you ?
  • #2,162
  • Jan 29, 2016 6:10am Jan 29, 2016 6:10am
Quoting istvan
{quote} Always watch out for double tops or bottoms. In this situation you could have drawn a Counter Trend Line and setup an early Pending Buy Stop. See attached chart. {image}
​where would you set your pending order istvan ?
  • #2,163
  • Jan 29, 2016 6:33am Jan 29, 2016 6:33am
Quoting aud
Only demo but just lending some support to the idea of using M5 to get moves that are fresh. Using M30 for direction. {image}
nice move
i talk from this too
  • #2,164
  • Jan 29, 2016 6:38am Jan 29, 2016 6:38am
Quoting Lebaneese
{quote} ​where would you set your pending order istvan ?
PO with spread off the high of the engulfing candle.
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  • #2,165
  • Jan 29, 2016 6:44am Jan 29, 2016 6:44am
Quoting TradeForexFx
{image}{image}{image}
nice this nonlagdot helper
can make from this modification to can we change helper lenght?
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  • #2,166
  • Edited 7:10am Jan 29, 2016 6:54am | Edited 7:10am
my gbp/usd trade in london time, missed confirmed nonlag entry but find nonlag way renko chart entry

exited from my 2. pos for mee looks to high risk to hold
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  • #2,167
  • Jan 29, 2016 7:20am Jan 29, 2016 7:20am
Quoting wrapocs
my gbp/usd trade in london time, missed confirmed nonlag entry but find nonlag way renko chart entry {image}
Very interesting to see how traders have adapted the NonLagDot system to many different time frames for both signals and confirmation of higher time frame signals. I see that some are even using it with Renko charts.

It just goes to prove that it is a tool, and like many tools can can be used for more than one thing (a hammer can both pound a nail into lumber, and remove a bent nail from lumber). An expert or artist using a tool can make it look effortless (the great sculptors with their hammer and chisel), but in the hands of an armature it can quick become destructive (a hammer against a car window). It is not the TOOL that was artistic or destructive. It was the person using the tool. No one ever picked up a tool for the first time and created the "Venus De Milo." It takes time and practice.

For those that have discovered, or see, different ways to use the tool, please continue to share your experiences.

For those that are becoming more comfortable with identifying the setups to take and the setups to let pass, share your insights or questions with the rest of the traders here so that they can learn or share their wisdom.

For those that are trying the system for the first time, I would say that the answers to your questions can be found within the posts of this thread. Post 1 is the best place to start your quest for knowledge, but it does not end there. Yes there are over 2,000 posts spread across just over 100 pages, but it is well worth reading them all and taking notes. No one knows exactly which one of these posts will be the one to answer your question or provide the last clue for you to complete the puzzle, so read them all.

If after trying to discover the answer on your own and you still have questions, by all means ask them. There are many here who will be glad to help someone, especially if they see that they are trying to learn. The only "stupid" question is the one that goes unasked and unanswered.

GREEN pips to one and all.
  • #2,168
  • Jan 29, 2016 7:37am Jan 29, 2016 7:37am
Quoting aud
{quote} Nothing wrong with any of the answers above, but for a different point of view - Lebaneese has not yet said how he reads PA to filter trades, but I think you should know which direction you intend to trade before looking for trades.

I agree with you it is just that i am trying to evaluate this system and in so doing i want to make sure i use the same heuristics as the author. So far i find the system's description somewhat vague in certain areas. The entry is clear but all the rest of the qualifiers are fuzzy at best. When i read you need to read price in the current developing context, i totally agree with that but if i can do it well why would i need the Non Lag Dot when the most important factors are the parts of the iceberg (read system) below the waterline?

Here is a good example on CL (Crude Oil). So far 4 setups according to the Non Lag Dot. Which setup do you filter if any and why?

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  • #2,169
  • Jan 29, 2016 7:43am Jan 29, 2016 7:43am
today 3. short entry on gbp/usd
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  • #2,170
  • Jan 29, 2016 7:44am Jan 29, 2016 7:44am
and trade protected in +
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  • #2,171
  • Jan 29, 2016 7:48am Jan 29, 2016 7:48am
and trailing stop move
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  • #2,172
  • Jan 29, 2016 8:03am Jan 29, 2016 8:03am
Quoting crixus
{quote} I agree with you it is just that i am trying to evaluate this system and in so doing i want to make sure i use the same heuristics as the author. So far i find the system's description somewhat vague in certain areas. The entry is clear but all the rest of the qualifiers are fuzzy at best. When i read you need to read price in the current developing context, i totally agree with that but if i can do it well why would i need the Non Lag Dot when the most important factors are the parts of the iceberg (read system) below the waterline? Here...
Of course hindsight is 20/20 so my answers will be somewhat jaded.

The other aspect to the question is under what conditions is the trader trading. By that I mean is this an individual trade or part of a basket of trades? If they are individual trades, then the SL would be moved to BE at the earliest opportunity to create a FREE trade while waiting for the one that will break out. With this in mind all 4 of the trades had the opportunity to move their SL to BE (+12 pips move SL to +2 pips, for example). If no TP was initiated, then all 4 would have been Stopped Out at their BE levels, so there should be no loss of capital. It looks like trade #3 made it to + 50 pips which may have been a good place to take full or partial profit (not to mention that it was reaching overhead resistance as indicated on your chart so at least partial profit would be prudent).

Now if this were part of a larger basket trade, more filtering would be in order. Trade #1 would be filtered out because it was moving into overhead resistance that turned into support. Trade #2 would be filtered for the same reason. Trade #3 would have been taken in that it was in the direction of near-term strength with consistent higher lows and a relatively small SL placed at the previous swing low. Trade #4 offers more of a dilemma. Again going lower towards that support, but breaking down through a trend line.

I am by no means an expert, but those would be my thoughts. Of course WTI Oil is one of the most interesting commodities for the last while with sharp fast moves in both directions, but mostly down.

I certainly hope I did not confuse the situation more for you, and that my answer makes some sense to you.

GREEN pips to you , and may you have a wonderful weekend.
  • #2,173
  • Jan 29, 2016 8:09am Jan 29, 2016 8:09am
Quoting wrapocs
and trailing stop move {image}
It's always nice to have a trade move quickly into profit that you are able to protect with a BE SL. Now all you have to do is manage the profitable trade from here.

Do you have a TP level in mind, or are you going to let the market tell when to get out via your trailing stop?

GREEN pips to you fine Sir.
  • #2,174
  • Jan 29, 2016 8:19am Jan 29, 2016 8:19am
Quoting SmoothTrader
{quote} It's always nice to have a trade move quickly into profit that you are able to protect with a BE SL. Now all you have to do is manage the profitable trade from here. Do you have a TP level in mind, or are you going to let the market tell when to get out via your trailing stop? GREEN pips to you fine Sir.
Trailing stop need to hold our pos. in + and defend from high reversal moves.
Iexited on first reversal candle, price is in adr low lvl. in this situation we cant find hard right way.
For me with this exit +80 dollar for this day and i look for other entries
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  • #2,175
  • Jan 29, 2016 8:20am Jan 29, 2016 8:20am
Quoting Lebaneese
{quote} ​how are you using it mk89 ? any special set up for you ?
Everything is based on SR. I adds daily open line (indicator), bolinger bands, line fractal and MA14. Everything has confirm direction and find nice place to took a position because human eye sometimes is incorrect and give me a wrong suggestion. (Sorry for my bad english)
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  • #2,176
  • Jan 29, 2016 8:22am Jan 29, 2016 8:22am
Quoting wrapocs
{quote} Trailing stop need to hold our pos. in + and defend from high reversal moves. Iexited on first reversal candle, price is in adr low lvl. in this situation we cant find hard right way. For me with this exit +80 dollar for this day and i look for other entries {image}
GREAT to see your profit. It is best not to be GREEDY and take what the market is so willing offers us. Keep up the smart thoughtful trading.

GREEN pips to you today, and may you enjoy a nice restful weekend with family and friends.
  • #2,177
  • Jan 29, 2016 8:32am Jan 29, 2016 8:32am
Quoting SmoothTrader
{quote} Of course hindsight is 20/20 so my answers will be somewhat jaded. ...

Thank you very much for your analysis. You did a good job although mine have been a bit different in the heat of the moment. Take trade #1, the Non Lag Dot gave a short signal but in my mind price was re-testing a classic resistance turned into support as you wrote. Here the short signal was conflicting with my reading (was expecting a long setup). The long setup did not materialize quickly enough with the Non Lag Dot. I felt the long was in order when price tested the newly formed support and the red candle formed a somewhat pin bar with its close right in the middle. The break at the top of this red candle was the right place to enter long but again no signal on the Non Lag Dot so my PA reading skill conflicting with this new system. At trade #3, we finally got our long signal but somewhat late with the Non Lag Dot but look at the candles there very small, no strength, lots of indecision and price testing a local resistance. This is enough to create some hesitation. As you can see, my reading of price action can create problems.
  • #2,178
  • Jan 29, 2016 8:36am Jan 29, 2016 8:36am
What would be interesting to know is your analysis as just looking at the setups alone is not enough. For example, the EUR/USD setup posted above by wrapocs would have been cool to have a good idea of your S&R:

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  • #2,179
  • Jan 29, 2016 8:46am Jan 29, 2016 8:46am
Quoting crixus
{quote} Thank you very much for your analysis. You did a good job although mine have been a bit different in the heat of the moment. Take trade #1, the Non Lag Dot gave a short signal but in my mind price was re-testing a classic resistance turned into support as you wrote. Here the short signal was conflicting with my reading (was expecting a long setup). The long setup did not materialize quickly enough with the Non Lag Dot. I felt the long was in order when price tested the newly formed support and the red candle formed a somewhat pin bar with...
Your reading of price action is not necessarily a problem. It is a very valid tool, just as the NonLagDot is a tool. You have obviously worked for some time with your PA reading of the market, and it may have been a bit confusing to you in the beginning. You practiced and honed your skills. The same needs to happen with this new tool, if you want to use it as part of your trading. Your questions are insightful and well thought out, which is a sign of someone who strives for knowledge.

I would suggest continuing to observe how this new tool reacts to situations that you have analyzed via PA and see if it reinforces your knowledge and comfort level, highlights new opportunities, or totally confuses your metal picture of the market. If it's from the first tool, it will be a valuable tool in your repertoire. However if it falls into the final category after working on it for a reasonable amount of time, then it should be shelved. Not every tool is right for every trader.

Keep up the learning, and may GREEN pips fill your accounts and your life.
  • #2,180
  • Jan 29, 2016 8:51am Jan 29, 2016 8:51am
Quoting SmoothTrader
{quote} Your reading of price action is not necessarily a problem....
I really like your opinion. Very appreciated. Meanwhile i was watching the ES (S&P 500) at the opening at 9:30 (EST). We got a setup there on the 15 min. TF.:


Price is in uptrend but in consolidation making the top of the consolidation a realistic first target.
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