how to manage false breakouts on NQ ES

Quote from Simtrader:



For you maybe, but not for me! See page 24 on this thread - only trade the ES from 09:40 to 11:30 EST for one trade and maybe a second trade from 14:00 to 16:15.

Right now, I'm tracking the first two hours of the DAX.

BTW the notion that people can learn from a chat room is flawed compared to the concept of them figuring it out for themselves. You can't hand hold people to success. They have to find it for themselves. Watching my imperfections certainly won't help. Which means THEY have to select the right breakouts at the right time and applying rigorous money management. Not me do it for them. My method ain't complicated. Just about anyone willing can do it. But doing it well will take time cos I guarantee that people will still manage to screw it up by things like:

- ignoring the rules about time of day (as you just did maybe by mistake?),
- ignoring the "don't trade other signals inbetween"
- they will not exercise patience and discipline and learn to focus on a mere two (or max) 4 hours a day.

My method is not clever enough nor active anough for the guru lovers out there. But maybe one or two good folk have learned something useful. Who knows and do I care?! :eek:
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Well,

I did ignore the time frame because it was the feed that I have live now, and since you are asleep while I am awake, well... I was hoping that we could overlook the time to see if the I had the "setup" correctly.

I am not trying to do anything here but learn the way you described it. In the time you have taken to respond to these posts, you could have come in the chatroom and said hi and guide me to see if I have the method correct. For all I know, I do not have the indicators setup correctly. Looking at the example you gave with BB at 1.8 SD and lenght 10, I cannot duplicate what you showed in your .gif on my screen with the same parameters.

nitro :(
 
ES M3 ticking above BB again (as I have it set up)

Let's see if it paints a pivot bar... [I know it's outside the time frame...]

nitro
 
Dude, you don't trade. Just trying to be a smart-ass by boasting about the DAX
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I ain't boasting about fuck all. Telling folks what I trade and suggesting they might also want to plug the DAX & ESTX50 into their charts alongside ES & YM/NQ ...isn't boasting. It's called practical advice. Bet you'd never even heard of the Euro markets til I came along, you ass. BTW I ain't your dude, dude, I'm your dream bitch remember?! You know, there really should be a law against in-breeding in Alabama :D

Now go away young boy because some serious folk seem interested in serious discussion. Besides, Mommy would be mad if she knew you were still awake at this hour :p
 
It would be trivial for me to code this and run a back test on it in TS. I may do that when I am 1/2 concious...

nitro <---- fading fast...Almost 3:00 AM here :(
 
Nitro man - you're breaking my heart! You're ignoring one of my sacred rules looking for action when you shouldn't be. Stick to the hours suggested and only those hours. Do it for a week and then let's talk.

Pretzel - Stay away from my markets - what are you doing charting my symbols (didn't you know they were mine?!). Get to bed! Seriously, I know most folks ignore DAX. Even a US trader who just traded it from 09:40 - 11:40 EST i.e. one trade a day, for a total of 2 hours ....could make a fortune in it.

You're right that most folks won't bother though! This is how we get our edge ...doing something the majority don't. Yes I chart all four markets side-by-side. I just keep it simple with a Bollinger Band on all four.

The middle line isn't anything special. Don't put too much attention on what I do. The simple middle Bollinger line would probably work just as well as my EMA,
 
Quote from nitro:

It would be trivial for me to code this and run a back test on it in TS. I may do that when I am 1/2 concious...

nitro <---- fading fast...Almost 3:00 AM here :(
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Here's the 5 min chart - signals should be good. BTW, my bedtime is 12 N EST.

pretzel
 

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Quote from Simtrader:

Nitro man - you're breaking my heart! You're ignoring one of my sacred rules looking for action when you shouldn't be. Stick to the hours suggested and only those hours. Do it for a week and then let's talk...
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:confused:

I don't trade this stuff, just watching it!

I will look at it from the corner of my eye for a week...

nitro
 
I only chart the ES/YM on pit hours not using overnight data. I know this makes the first 10 bars of indicator different than those of the DAX/ESTX50 during that time ...but I just prefer it that way. I will often use the DAX/ESTX50 at this time to generate which bar to trade the ES. i.e. The dax may have a pivot high on the Boll line but the ES not (due to my settings). But I may still take the trade in the ES.
 
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