ProfLogic's Method

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I see it does make a difference when you change it from trending to trading.

For example, let's assume I am looking no higher than the 16807. Do I set that for trending, and then the 2401 to trading, so that I see the overall trend on the higher volume chart, and look for entries on the lower volume chart?

Or do I switch the 16807 back and forth to see different setups and forget about the 2401.

Or should I look at something higher than 16807 for trending, and then look at 16807 for trading and then maybe get rid of the 2401?

I am testing a combination of prof charts with my own methods to trade, but want to make sure I understand the prof rules correctly.

Also, thanks for the updated charts.
 
I noticed on the 16807 chart, I get a label that says for today breach HH 859 when set for (trading). I was doing a test trade here and then stopped out 4-13-09, and then the market makes a new break HH at 861.25. After that, the market does trade down.

Also, the previous label of 859 no longer shows on the chart.

Not sure if either of these trades would have been good to take based on prof method, but I wanted to share. When 16807 is set to trend, I probably would not have taken either trade since it never made the type of chart that I like to take for a trade based on my methods.
 
Quote from oraclewizard77:

I noticed on the 16807 chart, I get a label that says for today breach HH 859 when set for (trading). I was doing a test trade here and then stopped out 4-13-09, and then the market makes a new break HH at 861.25. After that, the market does trade down.

Also, the previous label of 859 no longer shows on the chart.

Not sure if either of these trades would have been good to take based on prof method, but I wanted to share. When 16807 is set to trend, I probably would not have taken either trade since it never made the type of chart that I like to take for a trade based on my methods.
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You need to read the rules at the front of the thread.
The labels migrate as price moves.
 
Ok, thanks. Now that I finally got a working chart, I will go back and re-read the journal.

Quote from ProfLogic:

You need to read the rules at the front of the thread.
The labels migrate as price moves.
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Your posts are extremely hard to understand :confused:

Are you saying you shorted off a breach HH, and got stopped out? And this is surprising to you?

The trading chart uses the faster chart ERG for the labels, the trending uses the ERG of the same fractal. Dont ask what fractal is 'best' to use, that is your personal choice.

HTH
 
1) (You shorted off a breach HH and got stopped out?)
yes

2) (The trading chart uses the faster chart ERG for the labels, the trending uses the ERG for the same fractal)

Ok, so maybe you are saying to open 2 prime volume charts lets say 2401 for example with the same value ie 2401, and set 1 to trading and 1 to trending and compare whats going on as hopefully stated in prof's rules to determine a trading strategy rather than trying to have 2 different vol charts (2401 and 343) with 1 being set to trend and the other to trade.

I am also not clear on what you mean by faster chart for the labels, are you meaning that for example setting the 2401 for trading means its actually a 343 chart or is getting the labels from the 343 chart.

Feel free to clarify. Thanks in advance.

Quote from Jander:

Your posts are extremely hard to understand :confused:

Are you saying you shorted off a breach HH, and got stopped out? And this is surprising to you?

The trading chart uses the faster chart ERG for the labels, the trending uses the ERG of the same fractal. Dont ask what fractal is 'best' to use, that is your personal choice.

HTH
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By the way, after re-reading the thread, I now understand that I should not short a breach HH. It has been a problem up to now to even get a chart to work correctly for me so I was 1st concerned with being able to do that before proceeding to the next step.

Still feel free for anyone who wants to make some comments about the differences between a trading and trending chart. These charts may only be in Ninja Trader and not in the other chart packages, but I am using Ninja right now.
 
Quote from oraclewizard77:

By the way, after re-reading the thread, I now understand that I should not short a breach HH. It has been a problem up to now to even get a chart to work correctly for me so I was 1st concerned with being able to do that before proceeding to the next step.

Still feel free for anyone who wants to make some comments about the differences between a trading and trending chart. These charts may only be in Ninja Trader and not in the other chart packages, but I am using Ninja right now.
More...

Trading portion of the chart is the labeled oscillations on the price bars.
Trending portion of the chart is the oscillations on the bottom of the chart.
 
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