Anek, Question on TRENDLINE BREAKS. If you are using a trendline break as a reason to exit a long trade, would you recommend exiting as soon as a bar closes below a trendline, or should you wait for the low of that bar to be taken out by the "magic tick"?
This is my focus right now... trend breaks. For #1... in an uptrend with a higher high and then a break of trend, I will wait for a retrace to the old trend support which is now resistance. Although I haven't decided anything about the swing high where resistance is hit relative to the highest high before the break yet. Does this ring a good tone? I do see how if there is a higher low still, the trend is still not broken. Hmmm. Never mind? -Tech
Hi Guys, do you know how can i get the market line emotion with Ensign software try with pesavento level but it's a little different, so i asked to the software support , they give to me a couple names of they program guys which charged 300 dollar for this... any help!?! thx
For tomorrow can anyone post the pivot levels that their ninjatrader are giving them. I am trying to figure out if it's worth it using these levels due to data uniformity/ability of software to calculate the levels. Just wondering if I'm looking at something other people are.
Hi sacramento343 imo you need to watch the price action on the chart and time and sales if you want to get a feel of where people are entering their trades. After a while you will come to expect a type of action if you are leaning the right way and and when you don't see it it could be a signal to tighen or exit the trade without waiting for your stop to get hit. I also see you are using QT, try watching price action with the pace indicator it has.(view/show pace) A slow pace can signal chop or a weak movement. I am still learning also but these are some of the things I have noticed. PS. the M on the NQ at the end of the day on the NQ was a nice one. AAA30
Anek, Thanks for the help. I want to make sure I understand you correctly. What I have been doing is Watching a 450 tick chart for my entries. When I see a trend I will wait for a pullback. Once I see the pullback ending by seeing a new bar begin to go in the direction of the trend I get back in and place my stop below or above s/r. For my exits I wait for the previouse bars h/l to be taken out by the new bar, then wait for the whole process to begin again to get back in. Is this what you are saying we should do or am I screwing up. Also wondering about the double top on Thursday morning. You mentioned you saw it but couldn't trade it due to personal trading rules you have. I was wondering if you could comment on that. I'm intested to get your mind on it. Thanks for all your help in this thread and welcome back
Market Emotion for Ensign somebody already posted this here but I don't remember which page. Open "Design Your Own" from the indicator list and copy what ever you see in the attached file.
Hi, this is my first post on ET, Anek you have done a great service here thanks for all of this. I've traded equities for years but just now am considering futures (for daytrading). They have better tax treatment and mark to market makes dealing with the IRS so much easier too. Plus, the leverage is nice. I'll papertrade for 6 months before trying anything live. Anyway, I'm using NinjaTrader and OpenTick as the papertrade platform. Here is a chart from yesterday's ending action. Nevermind the CCI (I don't use it now) but the ATR is there as a kind of volitility barometer. The pivot points uses the built in "swing" indicator. I annotated postmortem where I thought the entries were that I thought were worth taking on that segment. The confirmed bubble on the left was an exit from a previous uptrend.