I got stopped out of the last trade at the very high tick. The chart is up and there is a nice short set-up. Sell 21, stop 24.5.
Exited at 14.50 and after few minutes entered short at 13.25 and stopped out at 16.25. I was down $120, up $10 and now end the day down $50 excluding $20 commissions. The last trade was a mistake because ADX was >75 and I've seen reversals more than once at this level. I guess live and learn.
I am going to add one more filter to it, Keltner Channel 65 with 1 std. This should act as a confirmation of the trend. Basically I want the entire bar to be above or below the channel for a trend confirmation. Had I done that today, this would have kept me out of the first losing trade.
I finally got the Ninja trader charts. The way it calculates ADX is different than the way IB does....not sure why. I entered a short trade at 16.25 and got stopped out at 18.25. In the Ninja charts ADX > 40 but in IB charts it was around 28.