Hello guys The chart below shows how to trade the ES, in a simple way, with 3 indicators I found the SineWave an excellent tool well combined with Step MA and HMA All these indicators ara available for free with Ninja Trader Uploaded with ImageShack.us
Please post a chop fest using the same tools and same parameters and you'll see your pretty indicators become garbage.
When the market makes straight 5 and 10 point runs, everything works. You can make money with a simple MACD or a Hull MA or just about anything else you pull from the indicator bag of tricks. Problem is, when the market goes sideways, your indicators will eat you alive. What's more important is how you decide IF you should be trading at those setup points. How do you evaluate market structure? Where are the key points of support and resistance? What's volume activity telling you? Understanding the big picture is the key.
Hi Lorenzo: I found the Sine wave. It was in Ehlers Sine Wave at http://www.ninjatrader.com/support/forum/local_links.php I have wanted to look at Sine Wave since it was recommended in Bettter Volume. The version at Better Volume is for use mainly for Trade Station which I do not use. As another Poster pointed out, Sine Wave cannot be used as a standalone indicator. However, Sine Wave seems to work very well with what I am already doing. Thanks for the post.
It might actually be interesting if you didn't show one session's worth of trades. Have you run say at least a few months worth of trades and cranked out TradeStation types of stats (win/loss runs, max wins/losses, profit factor, drawdowns, etc. etc.)?