After two years of daily screen time with esignal and trying innumerable indicators, moving averages, filters, tape reading, bell curves, market profile, on and on. I have settled on Woodies CCI and am starting a serious live paper trading test of the system. The markets I have decided to trade are the Dow, Russell, and NASDQ e-mini. The trend is your friend is more than a cliché; it is a way of surviving as a newbie trader. Therefore I will be focusing on the trend continuation trades in The CCI system at first. Here is a link to the nuts and bolts of the Woodies CCI system; http://www.pfgkelly.com/woodies/woodie_CCI_v1.2.pdf
YM 2 cars on entry 26 point stop 1st target +10 then move stop to breakeven +1 exit on one of the CCI exit signals or stop out.
NQ and ER 2 cars 16 point stop same exit rules.
1.) Zero-line Reject (ZLR)
2.) Trend Line Break (TLB)
3.) The Tony Trade (TT)
4.) GB100 (GB)
I will also paper trade the trend changing system as well to gain the data needed to begin building confidence in counter trend trading. In my experience the counter trend trade is the biggest confidence crusher so solid understanding of the action is required before live trading can commence.
1.)The Famir Trade
2.)The Vegas Trade
3.)The Ghost Trade
PFG and Genesis offer a solid charting and execution platform. The most vital aspect of the PFG/Genesis system is the record keeping and trade monitoring capabilities. The platform allows ease of tracking all set ups and their equity curves.
The only deviation from the woodies cci system I will make is paper trading an additional system with a change in the range bar settings, stop loss, trade entry rules, and position management. The rogue system is based on a test of my experience with the YM contract. Rather than using a 25 point range bar with a 25 point stop I will use a 12 point range bar and a 12 point stop with tape reading on a pull back after the trend continuation signal fires. Exit strategy will be 4 cars in ; 2 cars out at +5, stop to break even, then 1 car out at +10, stop moved to entry +1 with 1 car left open target. The most important part of this test is consistent/rigid adherence to entry rules and meticulous record keeping. I will post a daily analysis of my experience with the live paper trading of the system.
YM 2 cars on entry 26 point stop 1st target +10 then move stop to breakeven +1 exit on one of the CCI exit signals or stop out.
NQ and ER 2 cars 16 point stop same exit rules.
1.) Zero-line Reject (ZLR)
2.) Trend Line Break (TLB)
3.) The Tony Trade (TT)
4.) GB100 (GB)
I will also paper trade the trend changing system as well to gain the data needed to begin building confidence in counter trend trading. In my experience the counter trend trade is the biggest confidence crusher so solid understanding of the action is required before live trading can commence.
1.)The Famir Trade
2.)The Vegas Trade
3.)The Ghost Trade
PFG and Genesis offer a solid charting and execution platform. The most vital aspect of the PFG/Genesis system is the record keeping and trade monitoring capabilities. The platform allows ease of tracking all set ups and their equity curves.
The only deviation from the woodies cci system I will make is paper trading an additional system with a change in the range bar settings, stop loss, trade entry rules, and position management. The rogue system is based on a test of my experience with the YM contract. Rather than using a 25 point range bar with a 25 point stop I will use a 12 point range bar and a 12 point stop with tape reading on a pull back after the trend continuation signal fires. Exit strategy will be 4 cars in ; 2 cars out at +5, stop to break even, then 1 car out at +10, stop moved to entry +1 with 1 car left open target. The most important part of this test is consistent/rigid adherence to entry rules and meticulous record keeping. I will post a daily analysis of my experience with the live paper trading of the system.
