How I Multi-Timeframe Range Trade

R

RangeTrader

Step 1... Review the big picture. We are ending a weekly rally. Over the next couple months. We are starting a new daily rally which signaled a couple weeks back. It should end around early/mid may. Back to whipshaw... Wheee!!!

I only use leading indicators/precision exact indicators. The actual arrow signals, especially the counter-trend dip warning ones forwarn of a move by 10-20 bars. Orange = Likely Dip/Bounce in current trend, Yellow = Make Note. Green = Buy Buy Buy

I pretty much only long trade because it's just so much easier to long trade equities.
 

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Step 3. Confirm with internals/tick average.

Buy support, sell into resistance... Check mid timeframe technicals every ten minutes... Profit...

Withdraw some money from futures account, goto bar, get drunk.

This is a fun hobby! Ha... I'm mainly a programmer/developer. You don't need very good technicals to trade honestly. You can monkey rig a multi-timeframe confirmation based system together easily with the standard indicators.


Btw, whoever called me a newbie on here... Just because I just joined ET doesn't mean I haven't been trading on and off for years.

I'm kinda looking forward to this damn market dropping hard this summer into fall so we can have a shot at some of these fierce fed driven rallies again.
 

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The secret to trading is simple. Buy low, sell high, with trend... And keep on doing it.

That's all there is to know.

Multi-timeframe is nice because what is merely a bounce on a daily chart is a nice juicy long rally to trade on lower timeframes.

Just follow the numbers, they tell you all you need to know. That and the fed easing/twist program end and start dates. Haha... I hope the fed doesn't start anything before the elections so the markets tank and we can get rid of Obama... Then well be ready to rally and party like it's early 2007 again!
 
Quote from FreakofNature:

so where is price ? :D
More...

Price? What does that matter?

Just kidding, lol... I get that a lot. Price is the white number at the right. The highs are located at the points at the top of the price band when the market is rising, and the lows are located at the bottom of the price band when it is falling.

I measure retraces off of the fluctuations in the price band from red to green.

I eventually realized that I didn't use candles at all for trading, so I got rid of them and replaced them with something useful! My price band better reflects the true nature of the market. As price is moving it always snaps back to the median intermittently. As the market is trending up I like to move a few limit orders around underneath it trying to get the best fills possible.

I never chase a move, if it gets away without hitting my fill I let it go and wait for another setup.

I can't decide if I prefer watching Tick and moving a limit order around or watching a L2. Watching the NYSE Tick, L2, and chart at the same time becomes a bit dizzying...


I kinda get pissed off if I get my entry off by more than two ticks from the low and just let the trade go without me.

I have decided from now on I am just going to average in a few contracts and that will nail down my accuracy on the entry of these 15-30 minute long trades. Actually, nah... Ill just work on watching the Tick, L2, and chart all at once. The L2 itself is pretty good for figuring out where some support is.

Such a thing as being too perfectionist?
 
Mmmmph... Or just turn back on my micro-timing indicator. Somehow I forgot about it for a while...

It's completely useless and just a distraction during trending markets...

Low news uptrend days it's quite useful at finding bottoms within a couple ticks...

I bet I am one of the few people here who's favorite trading conditions are slowly trending chop with stable internals/tick!!!
 

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Jeeze... I was just looking through the math on my candles and there was an error. I was using incorrect smoothing...

Corrected it. I doubt anyone here could tell the difference.

Thanks to FreakOfNature I was looking to see if I could improve my candles. I hadn't looked over my price band candles code in ages...
 

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I'll bite......


how much for your Supercalifragilisticexpialidocious indicators?

Please...oh please tell me it's only 3 easy payments of $99.99
 
Quote from HurricaneUS:

I'll bite......


how much for your Supercalifragilisticexpialidocious indicators?

Please...oh please tell me it's only 3 easy payments of $99.99
More...

Hurricane,

Do you consider yourself a cynical person on avg? :D

Must be a terrible way to live.
 
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