Yes, I have noticed it. The main reason I use Realfasttrader.com is because of the PRO software. I like the way it charts ADX/DMI and it executes trades very quickly. Check out their free simulator to see what I mean. Anyway, I use Nasdaq futures as a leading indicator, mostly for exiting positions. I do not attach the ADX/DMI study to my futures chart. Seems like overkill to me. As I said, I like to keep it as simple as possible.
Well...I am impressed with your method and the screen shots help out a lot...please post more screen shots if possible. Last question, when u say u use the 1 min for heads up and then 2 min for confirms, are you only using the 2 min signals for entries? I seem to see a lot of 1 min signals that work nicely, but the time the 2 min confirms it is a little late, but not too late thou. Thanks again!
hi, does the method only works for daytrading or does it also work for other time-frames, e.g. swingtrading? thanks in advance.
hi, does the method only works for daytrading or does it also work for other time-frames, e.g. swingtrading? thanks in advance.
It works for day trading or swing trading. For swing trading look at a 1 day chart and maybe a 60 minute chart depending on how long you plan on holding. I showed my Dad how to do it and he has made some nice gains swing trading the ADX/DMI calls. He last bought CSCO at the end of August @ around 18.50 (I think) and sold it 2 weeks later @ around 21... not bad.
nyc-hotshot, hope you don't mind me asking one more question. do you know/recommend any free/paid charting program with adx, mdi & pdi indicators? thanks again!
Try Sierra charts with mytrack data feed - not free but affordable. Look under search for broker and software. There are others on this site but I can only comment on what I use. Hope this helps
Are you talking about the PRO software I use? You may be right, but I'll tell you this much it works great. As I said earlier, I don't micro-manage a strategy that works well. I like to keep it simple. 1st trade today (generally the first call is the best one each day) B 3000 CSCO @ 20.82 @ 9:40AM S 3000 CSCO @ 21.18 @ 10:39AM Gross profit on 1st trade = $1080 Nothing like making a $1000 in the first hour on 1 trade. Really starts your day out nice. I hope this doesn't come across as bragging. I'm just trying to show how this strategy consistently works for me.
the white indicator shown by this software is definitely not an ADX. It resembles the DX, which is the ADX's unsmoothed "predecessor". The DX basically measures the spread between +DI and -DI. With a true ADX the system will produce completely different signals So which one is it = ADX or DX?
The white line is not a traditional ADX for sure...I am curious to what it actually is because I have watched it via spreedtrader and have been impressed. It would be interesting if nyc-hotshot could somehow found out what it is...my trial with them is over for now.