Picking Tops.

For that stoped short did you use any MP level ? this latest one really was excelent on some level (red line) , do you look other charts for levels apart from the 317 T during the trading session ?

good trading ¡¡ small stops, larger profits... so your stop criteria is the trendline break (trendline div of delta ) on the opposite direction desired ? any other stop criteria ? thanks 5pillars for your inputs.. cheers Walter.
 
Quote from walterelite:

For that stoped short did you use any MP level ? this latest one really was excelent on some level (red line) , do you look other charts for levels apart from the 317 T during the trading session ?

good trading ¡¡ small stops, larger profits... so your stop criteria is the trendline break (trendline div of delta ) on the opposite direction desired ? any other stop criteria ? thanks 5pillars for your inputs.. cheers Walter.
More...

The trade of mine you are talking about was not a stop out, that was a REVERSAL at a two tick loss with a 4 tick profit target (from the point of the reversal fill price). So that trade ended up netting + .50 pts.

The 317 tick chart is my primary trading chart. I do have a 30 minute chart of the day up also, but that is not what I get trade entry signals from.

I have some other rules for my 317 tick chart trades but you can see the basic fundamentals of what I do from my screen shots.
 
Quote from walterelite:

http://www.elitetrader.com/vb/attachment.php?s=&postid=1282205

Dear 5pillars I am really enthusiatic about trading your aproach, looks very logic and it has a very clear reading.
I attach a chart from yours today and ask you how do you manage in your experience this "aparent" false signals... do you have some filter for does or just take a small stop... looking at charthub I see that the overrall performance is positive, even taking does "false signals "...
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To make sure, I went back and looked at the trade set-up you circled.....I did take a LONG there with a fill at 1392.50 (with a miss fill for my first profit target at 93.50). Just a few minutes after that entry I took the position off as a scratch trade at B/E. Price and the delta just rolled back over, so there was no sense to stay in the trade as it was not at a significant support level. Btw, good observation on your part for that spot.

Here is some differences between optimal and less optimal entries from some of todays examples..........

http://www.charthub.com/images/2006/12/01/ES_317_VB_10.png
 
Hello 5pillars,

I am watching and studing your entire data base of charts at charthub... great material ¡¡ there is no beter way to validate a method, than showing its performance over time... and it looks stable even on diferent type of trading days... my great observation is this, and I would like to hear your feedback on this : Delta Divergences Trades (DDT) have worked very fine all by them self... no MP level no Ergodic into consideration, just DDT... this divergences have worked by them self over and over and over again... Only on very trending markets, this divergences got stoped out, with very small stops or got even..

in some cases this stops even happened whith all the filtering rules from mp levels and ergodic present... I feel like DDT is a great technical argument just by itself..

I atach an example of a chart from yours where I find 3 more excellent trades just based on DDT , you can notice that the market was on a cycling mode wich I believe its very recomendable to have, thought extreme trending markets made DDT get stoped.

Something else : Shift entries from DDT probably are more leading than the famous CCI leading entries... enabling a great RRR on trades.
I expect your feedback, cheers Walter.
 

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I agree with a lot of what you say, but the reason I use the more selective entry requirements are for the number of signals that are present everyday. There are plenty of signals (DDT) each day to chose from, and the additional criteria I add enhance the probability of entering the best of all choices imo. This increases the profit factor and also creates a more robust win/loss ratio....I don't NEED all the trades that are possible everyday to be very profitable, so I go after what I feel are the best daily opportunities. :)
 
Very wise on your part 5pillars, its true that overtrading its not a good teacher... its good idea to have a selective criteria...

I now have linnsoft ... playing with this vb charts¡¡¡... really nice stuff, I am observing that there also is a great "clean" trend definition derived from vb delta bars accumulated, I attach an example with Russell... Expect your feedback on this.. cheers Walter.

PD: bars are 5 and 20 smoth average on 110T
 

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End of Wave 4 and the A-B-C correction was at 1377.83
Add 68 handles ( length of Wave 1 off the lows of the Summer ) to last week's 1377.83 and you obtain an ultimate target of 1445 for the top of this rally.

This is a classis, measured-move in which Wave 5 = Wave 1.

Just to play it conservative, you might also wish to take a few fibonacci's of 68 SPX handles in order to arrive at an alternate objective for the end of Wave 5, and thus the entire sequence.

For example, 61.8% of 68 = 42 handles

1377.83 + 42 = 1419.83 obj.
 
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