DMI/ADX consistently works

Quote from WarEagle:




This is why I asked about premarket data. I am using only regular hour data, and my ADX was above the DMI's from yesterday and did not cross under the PDI until 9:44et and didn't get under both DMI's until about 10:20et.

nyc, does your ADX lookback not include the previous day? i.e. on the second bar, your ADX only calculates with the 1 previous bar, on the 6th bar its using the previous 5 etc, until you have 15 min of data. This may explain the difference from what I am looking at (see attachment). Would you consider posting a screen shot to compare it with?

Thanks again.
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wareagle,

exactly, the 1 min chart confused me, cause the ADX was already above both DMI's, from the day before.
but looking at the 2 min chart, the long conditions were met, according to nyc setup.
 
Quote from WarEagle:



nyc, does your ADX lookback not include the previous day? i.e. on the second bar, your ADX only calculates with the 1 previous bar, on the 6th bar its using the previous 5 etc, until you have 15 min of data. This may explain the difference from what I am looking at (see attachment). Would you consider posting a screen shot to compare it with?
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I only look at today's data on my chart. What happened yesterday is not relevant to my trading today. It guess it does just use the last bar at first, because I get calls right from the open.

I would post a screen shot but I screwed up my cpu by downloading a paintshop program and now I can't do it anymore.
 
Quote from nyc-hotshot:



I only look at today's data on my chart. What happened yesterday is not relevant to my trading today. It guess it does just use the last bar at first, because I get calls right from the open.
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How can you get calls "right from the open" if you're using a 15p ADX and you're not using yesterday's data?
 
Quote from nyc-hotshot:



I chart the 1 minute and 2 minute chart. I actually went short @ 19.11 first and covered @ 19.09 , then went long @ 19.15 when the pdi/mdi crossed and adx was heading up. You can see I could've gotten in earlier on the long, but I wanted to see that adx was clearly on an uptrend (then my girl called me and took my attention for a minute and cost me a couple cents:( )
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nyc,
ok , now I see that you took the 19.15 long from the 2 min chart.

thanks again
 
Quote from dbphoenix:



How can you get calls "right from the open" if you're using a 15p ADX and you're not using yesterday's data?
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I'm not quite sure how it works. If you want to see for yourself how it works, go to realfasttrader.com and download their free trading simulator, which I believe is realtime. Set up the chart to start at 9:30 with DMI indicator study, look at it on Tuesday and you will see it make a call when the market opens (at least within a few minutes).

I can tell you this much, it definitely works because I do it everyday and I generally make more money at the open (the first hour) than any other time of the day.
 
Quote from nyc-hotshot:



I'm not quite sure how it works. If you want to see for yourself how it works, go to realfasttrader.com and download their free trading simulator, which I believe is realtime. Set up the chart to start at 9:30 with DMI indicator study, look at it on Tuesday and you will see it make a call when the market opens (at least within a few minutes).

I can tell you this much, it definitely works because I do it everyday and I generally make more money at the open (the first hour) than any other time of the day.
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I'm afraid that's impossible. If you're making entries within the first fifteen minutes, then you're either using current data coupled with yesterday's, or you're making entries that include varying degrees of randomness.

Incidentally, you can use the Paint program you got with Windows to post charts. Just right-click the chart and Save Target As whatever you name it to Paint. Then use Paint to open it and annotate it.
 
Quote from dbphoenix:



I'm afraid that's impossible. If you're making entries within the first fifteen minutes, then you're either using current data coupled with yesterday's, or you're making entries that include varying degrees of randomness.

Incidentally, you can use the Paint program you got with Windows to post charts. Just right-click the chart and Save Target As whatever you name it to Paint. Then use Paint to open it and annotate it.
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Wow, I made .16 on 3000 shares ($480 gross) on an impossible trade... not bad. Believe me, I don't fashion myself as a technical master or a software programmer. As I said, if you want to question the validity of my statements, download the software and observe it for yourself.

All I know is what works and that I am profitable a very high percentage of the time. I've been day trading for years and I don't bother to micro-manage a technique that has worked for me for a long time.


PS: I can't just right click the chart and save the screen shot. The program I had on my cpu, screwed up my ability to do that.
 


I didn't say the trade was impossible, but you may be using signals other than those you think you're using, which is not unusual. As long as your entries are in the correct direction and your exits are well-thought-out, the probabilities will be in your favor.
 
Thanks for the clarification nyc.

I don't use a screenshot program. Just highlight the window you want the screenie of and press ALT-PRINT SCREEN. Then go to Paint and paste it there from the clipboard. Then you can save it as a gif or jpg file.
 
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