I have just spent the past week reading this thread.
To jjrvat: Thank you for starting it and all of you hard work. Offering free advice is a very admiral quality.
To TheRumpledOne: Do not stop contributing to this thread. I found your posts most rewarding when I went back and fully looked at what you were saying and trying to show in your charts. While your charts are intimidating at times the majority of them were very relevant to the discussion at hand. Do not let anyone tell u different. I wish that I had your programing skills!
jjrvat I have a few questions. It seem that with your method you are basically putting your self within the indicator. You have your 240 WMA and your 25 Hull or 21-25WMA plotted on your Bar chart. You adjust your time fames to give you the appropriate wave patterns for your style. Then you trade on your HH HL or your LL LH. You use the Pivot Point to decide when to trade and not to trade.
You use the slower WMA to decide the Macro direction and the fast WMA or Hull to help in the id of the wave.
When you get a HH HL after two? patterns you enter long on the fist break of the faster WMA. when you get a LH LL you enter short on the first break of the WMA. Is this correct. (Obviously following the Macro direction). You also color code your slower WMA to help in the direction of your trade. Is this basically a true assessment? Or have I missed everything?
Questions:
What happens when you get a low or a high at the exact same price point as a prior high or low? Wait and see or exit?
How many HH HL or LH LL do you require prior to a trade 1, 2, 3 and when would you not trade in the pattern any more? after the 4th wave pattern?
Your exit is decided how? Immediate change in slope?
When you refer to change in slope are you speaking about a 15,45,90, 120 degree change in slope.?
Just a thought: isn't this very similar to the Elliot wave patterns. Are they relevant here?
You have talked about your pivot points. And gave a great explanation on how you arrived at your PP. Of course leaving out the most important trick for us to find
Your last post was the most informative for me . Thank you for posting an example with notes, it helps. Can you post some more with the ES in mind?
Your stops are decided by the previous low just prior to your entry is this correct? How do you manage this in real time with only seconds to enter a trade?
You have also mentioned that you trade certain time periods for certain markets. I have also noticed that there are better trading time periods for the ES. Prior to open seems to be very good for patterns. 3-4 am EST 7-9:30am and sometime around 11pm EST.
I also have noticed that the 34 tick and the 89 tick charts seem to be the best. Do you use two charts to trade? One higher time or tick to decide larger wave pattern and a lower time-tick chart to decide the entry and exits? Or do you just trade off of 1 chart?
I have noticed when I do this my 240WMA is different on the charts. Some times on the 34 tick it is showing above when on the 89 tick it is showing below. Is this normal or am I doing something wrong?I also noticed that you had one post about not including after hour data in your charts. Do you hold this true for trading the ES and YM?
Thank you again for a very informative thread.
