Daytrading Breakouts in the ES

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Jr,
On the DAX at 10:15 had a PP Low that broke the BB @ 3181.90
On the next bar we had a new PP Low of 3181.19 but this did not break the BB (3181.05).

My question is, do you ignore the new PP low because it did not break the BB?
 
JUNE 13th: SEE ATTACHED SCREENSHOT

I know, I know!! We hadn't made a higher high.
I know, I know!! There was an outside bar in the DAX.

But, sometimes you gotta sit four feet back from the screen and see the big picture. I deliberately included all four charts on the image so you can see what I'm talking about.

We had several factors here:
  • The ES tried and failed to go higher.
  • All four of them had great big range down bars. When that happens, there ain't no way you can wait for a higher high (cos that would take the market too high to be considered a pullback).
  • Very importantly, we had strong 45 degree Moving Average line in all four markets
Basically, all four markets were screaming sell - and the "time of day" was ideal for a move. When that happens, you have to sell! You could have 'executed' in any of the four. I chose the DAX because when that thing runs, it's like a fucking gorilla on steroids!

Note one thing: when I "bend" a few rules, I never deviate from the idea of only trading pivots that are sticking through the Bollinger line in at least one or two symbols. I don't think I've EVER broken that rule. If you want to make just one rule sacred, make it that one.

Sorry this isn't a mechanical method. You still have to learn to pick these trades well. That's the skill of the method: trade selection. As I've said a few times: trading well is not "easy", but it is (or should be) SIMPLE. Complex algorithms, 10 indicators, and three timeframes analysis, have no place in my 'Rotten' life :)
 

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When you see a screenshot like the last one that appears formatted wrong, click on the funny icon that pops up when you move your mouse to the bottom right. It will expand the chart to it's original size for optimal viewing
 
Actually you merely have to place your mouse anywhere in the middle of the screenshot and hold it still for a couple of seconds. Then the funny icon will appear in the bottom right. Click it to blow the chart up.
 
Quote from Johnny Rotten:

Basically, all four markets were screaming sell - and the "time of day" was ideal for a move.
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In the US, some economic reports have market-moving effects, today Michigan Sentiment at 0945. Whether one wants to incorporate this factor into a decision to "bend the rules" is probably an individual choice.
 
Quote from himself:

I would greatly appreciate that. Especially am I interested in your settings of "the ratio trigger."
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I don't think I can post more than one screenshot on a post, so pardon me everyone for taking a few posts space. If what I'm about to say sounds like jibberish right now, just go and play with NinjaTrader (hereafter called NT) for a while, then come back and re-read it! It's really very simple once you get the hang of it. And you'll wonder how you ever managed without it once you get going! There's an active users email list for any questions that you may have. And the developer is very responsive and runs training sessions on PalTalk. If you have any questions on my settings, let me know.

The real "power" of NinjaTrader is contained in the Strategy Manager where you can pre-define all your trading parameters per symbol. It means you can very quickly flip to a different symbol to get your orders off.

You will note that I do NOT use Auto Trail management with the ES. This is because I like to handle stop-loss movement manually after the initial stop is entered ('tighten stop/widen stop'). However, you will see that I DO have a mechanical stop-loss movement strategy for the DAX. That bugger moves just too fast for me to handle it manually!

As far as Ratio Trigger goes: I don't use it (yet). But I would set the number to 3.

A couple of generic tips with the program: Set up all your strategies per symbol. You never need change the symbol in the Symbol 1 box, instead just change the 'Strategy' in Order Parameters (symbol 1 then changes by default). It's just faster doing this!

After changing your Strategy/Symbol ...you need to bring up the current price in the price box of the Main Entry tab. Double click inside the price box to accomplish this. To change this price (for our entry beyond the pivot spike) use your mouse scroll ....it's the fastest way.

Here's the main settings part of NT:
 

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