ProfLogic's Method

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Quote from PPF->Breach:

Hi Bill

Thanks for your time and effort in contributing to this thread. It's great that we all have the opportunity to from your input on ET.

Looking at your charts from Friday raised some questions in my mind about the practical application of the 2nd choice entry rules. The Intraday Rules set out on p2 of this thread are clear; it's clarification for the 2nd choice entry rules which I'm hoping you can provide.

Background:
Your response to one poster below introduced what appeared to be more specific conditions (compared with the Intraday Rules) for entry. i.e. Trading chart Histogram to oscillate before looking for a Entry chart ERG oscillation


Then in the following post you clarified that there are actually two choices w.r.t entry - with a preference for the first set.

My confusion is in trying to reconcile the 1st choice entry rules with the 2nd. For example, on Friday the 1st choice entry rules provided you with the trades you posted, however from what i could discern the 2nd choice entry rules would have resulted in no trades taken (i.e. Trading Histogram oscillation followed by Entry ERG oscillation in prime) in a timely manner.

Could you please help clarify/correct?

Thanks again.
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Clarification . . . Whiskey clarified this a few days ago quite well. That the clearest set-up initially by wiating for the Histogram to oscillate first then the PF sequence.
My personal preference . . . trade the 16807 and saty away from the 2401 as it is too noisey. I repeated stated that the 2401 is a great place to practice reading price but the slower charts are better for trading.
 
Quote from PPF->Breach:

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Why are you looking at the 2401? You are taking you entries and exits strictly from the 343. Once you enter a trade, if you have the strength of the chart in your favor look to the 2401 for your exit area as well.
 
Quote from PPF->Breach:


Then in the following post you clarified that there are actually two choices w.r.t entry - with a preference for the first set.

My confusion is in trying to reconcile the 1st choice entry rules with the 2nd. For example, on Friday the 1st choice entry rules provided you with the trades you posted, however from what i could discern the 2nd choice entry rules would have resulted in no trades taken (i.e. Trading Histogram oscillation followed by Entry ERG oscillation in prime) in a timely manner.

Could you please help clarify/correct?

Thanks again.
More...

Hi PPF->Breach,

I just saw where Bill has probably answered all your questions, while I was trying to collect my thoughts in this post, but I will still submit the following as just another student's perspective. As an aside, I just completed a total reread of this thread over the weekend, and I feel I should start addressing Prof as St. William :-) Throughout this thread, he has definitely exhibited the patience of a saint while answering the barrage of questions, often having to repeat himself several times over. It was also quite interesting to observe the evolution of the group since the thread's inception, and the headway made by those involved.

Concerning the first and second choice entry rules, it might be helpful to think in terms of degrees of perfection. As far as the rules on pg.10, both of these choices would qualify as perfect entries. But, as new practitioners, we need to always be aware of the context surrounding the setups. For example, if I am considering entering (in the case of 343-2401-16807) while the 2401 Histo is in prime, but before it oscillates, I believe I will be better served if I have both the 16807 histo and erg exhibiting strength toward the new trade's direction. And better still, I would want to see that this trade would also be aligned with a PPF -> Breach movement on the 16807. Another confirming bit of info could be the presence of convergence/divergence on the 2401 Erg Prime Trending Oscillations, or, at least c/d displayed on the 343 Erg or 2401 Histos. I believe it is fair to say that although the rules are indeed objective, our job still remains to develop our sixth sense w.r.t. the finer subtleties inherent in the relationships between price action, ergodics, and fractals.

Something else to ponder: Bill has dedicated over 12 years, first developing the concepts, and then refining and trading these methods. Here we are, w/ a couple months (maybe longer for some) under our belts, and all fired up to hit the ground running. Is it any wonder that some of his entries leave us scratching our heads? I believe he has repeatedly cautioned everyone on the importance of exercising patience, and choosing only the cherry-picked setups, in order to gain the confidence necessary for success. As difficult as it is for me to keep my hand off the mouse, that is my current objective. One to two setups per day, w/ a 5 or 10 lotter, and I'll be good to go :-)

Please excuse this lengthy post. I surely am not one to preach, or testify - but I do allow my enthusiasm to show through at times. Good trading ...
 
I had my first chance today of viewing this method in real time using MultiCharts and eSignal data.

As I'm in Australia I sometimes trade the mini HSI. Using the typical settings of 343 and 2401, I found the charts hard to read. I experimented with settings and settled on 55 (entry/Exit chart), 144 Decision chart) and 233 (Longer term chart).

Using these settings produced good charts for today but I'd like to know what others have found to be ideal chart periods to trade the HSI intra-day.

Johno
 
Quote from mephistoII:

Hi PPF->Breach,

I just saw where Bill has probably answered all your questions, while I was trying to collect my thoughts in this post, but I will still submit the following as just another student's perspective. As an aside, I just completed a total reread of this thread over the weekend, and I feel I should start addressing Prof as St. William :-) Throughout this thread, he has definitely exhibited the patience of a saint while answering the barrage of questions, often having to repeat himself several times over. It was also quite interesting to observe the evolution of the group since the thread's inception, and the headway made by those involved.

Concerning the first and second choice entry rules, it might be helpful to think in terms of degrees of perfection. As far as the rules on pg.10, both of these choices would qualify as perfect entries. But, as new practitioners, we need to always be aware of the context surrounding the setups. For example, if I am considering entering (in the case of 343-2401-16807) while the 2401 Histo is in prime, but before it oscillates, I believe I will be better served if I have both the 16807 histo and erg exhibiting strength toward the new trade's direction. And better still, I would want to see that this trade would also be aligned with a PPF -> Breach movement on the 16807. Another confirming bit of info could be the presence of convergence/divergence on the 2401 Erg Prime Trending Oscillations, or, at least c/d displayed on the 343 Erg or 2401 Histos. I believe it is fair to say that although the rules are indeed objective, our job still remains to develop our sixth sense w.r.t. the finer subtleties inherent in the relationships between price action, ergodics, and fractals.

Something else to ponder: Bill has dedicated over 12 years, first developing the concepts, and then refining and trading these methods. Here we are, w/ a couple months (maybe longer for some) under our belts, and all fired up to hit the ground running. Is it any wonder that some of his entries leave us scratching our heads? I believe he has repeatedly cautioned everyone on the importance of exercising patience, and choosing only the cherry-picked setups, in order to gain the confidence necessary for success. As difficult as it is for me to keep my hand off the mouse, that is my current objective. One to two setups per day, w/ a 5 or 10 lotter, and I'll be good to go :-)

Please excuse this lengthy post. I surely am not one to preach, or testify - but I do allow my enthusiasm to show through at times. Good trading ...
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On many levels this is such a great post. The "patience" emphasis to wait for the clean, clear, perfect, whatever one defines it, trades in a game where most participants end as losers is what hit home most.

I guess Saint Mephisto would be an oxymoron. No?. Nice post.

JW
 
LOL, JW... the day of sign up here, the name of my audio system's cd transport popped into my head. I didn't even know who the dude was until I wiki'd it one day. But as they say, the devil is in the details - and I think that was the point I was trying to get across :-) Cheers ...
 
Hi Folks,

I am encountering an issue and wondering if anyone else has encountered it or if I am just missing something simple. The problem I'm having is that my "2401" Volume charts seem to have far fewer bars than the ones I am comparing to here (for the same time period). The chart pattern is more or less the same, but I seem to have maybe 1 bar for every 5 or 10 on some of the charts being posted here. I'm pretty sure this is resulting in some very funky (e.g. not useful) read outs on the ERG indicator.

I am using NinjaTrader for charting combined with IQFeed for historical data. Just wondering if for some reason I would not be getting accurate data for volume?

Anyway, if the reason for this is apparent to anyone, I would appreciate any suggestions. I am probably missing something obvious, but can't seem to find the problem.

Thanks,
br
 
Quote from bridenour:

Hi Folks,

I am encountering an issue and wondering if anyone else has encountered it or if I am just missing something simple. The problem I'm having is that my "2401" Volume charts seem to have far fewer bars than the ones I am comparing to here (for the same time period). The chart pattern is more or less the same, but I seem to have maybe 1 bar for every 5 or 10 on some of the charts being posted here. I'm pretty sure this is resulting in some very funky (e.g. not useful) read outs on the ERG indicator.

I am using NinjaTrader for charting combined with IQFeed for historical data. Just wondering if for some reason I would not be getting accurate data for volume?

Anyway, if the reason for this is apparent to anyone, I would appreciate any suggestions. I am probably missing something obvious, but can't seem to find the problem.

Thanks,
br
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You need to get ahold of NT and IQ.
 
I am encountering an issue and wondering if anyone else has encountered it or if I am just missing something simple. The problem I'm having is that my "2401" Volume charts seem to have far fewer bars than the ones I am comparing to here (for the same time period). The chart pattern is more or less the same, but I seem to have maybe 1 bar for every 5 or 10 on some of the charts being posted here. I'm pretty sure this is resulting in some very funky (e.g. not useful) read outs on the ERG indicator.
More...

It might help if you put up a chart. Here is this afternoon's Ninja chart with ZenFire as a feed for comparison.

TG
 

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