Here's the 2401 chart for 9:53 in trend mode.
ProfLogic's Method
- Thread starter El Guapo
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Here's the same chart in trade mode for 4-22-09 at around 9:53 PST.
I would not want to go long here because its a breach LL.
I would not want to go long here because its a breach LL.
However, I think going long here would be fine if I went long using the trading mode in a lower chart, that would have been a good price to go long at for this day.
My 1st comment is that it sounds like you haven't studied the difference between "Trending" & "Trading" settings.
If 2401 is your chart N (using my language) then the Trending ERG calculates the ERG(N) while Trading calculates an equivalent ERG(N-1).
Has it occurred to you to add the indicator to the chart more than once?
Study the differences. Re-read the forum. The pictures should have the answers you seek.
Good luck. . .
If 2401 is your chart N (using my language) then the Trending ERG calculates the ERG(N) while Trading calculates an equivalent ERG(N-1).
Has it occurred to you to add the indicator to the chart more than once?
Study the differences. Re-read the forum. The pictures should have the answers you seek.
Good luck. . .
LostTrader,
Per my conversation with Proflogic, I should be looking at 3 charts with the middle one be my "trading decision" chart, it does not have to be 2401.
Also, I was told to look at a higher ie slower chart for strength for example 16807 after noticing something I like in my "trading decision" chart, and then look at lower ie faster chart for example 343 only for the trigger, then look back at the trading decision chart.
No, I did not think about setting say 2401 with both indicators, but I can since then I would not need to keep switching them back and forth.
I am not sure what is difference between "trending" and "trading" modes in how it relates to proflogic's method, but I am glad you setup Ninjatrader this way.
Note: After setting 2 indicators one with trend and one with trade for the 2401, the chart now says that it was a breach LL. I am not sure I like doing it this way since price did rise after this LL, and the only way I potentially could have taken the trade was to only leave the trend indicator on the chart and not have the 2nd trade indicator on the same chart.
Per my conversation with Proflogic, I should be looking at 3 charts with the middle one be my "trading decision" chart, it does not have to be 2401.
Also, I was told to look at a higher ie slower chart for strength for example 16807 after noticing something I like in my "trading decision" chart, and then look at lower ie faster chart for example 343 only for the trigger, then look back at the trading decision chart.
No, I did not think about setting say 2401 with both indicators, but I can since then I would not need to keep switching them back and forth.
I am not sure what is difference between "trending" and "trading" modes in how it relates to proflogic's method, but I am glad you setup Ninjatrader this way.
Note: After setting 2 indicators one with trend and one with trade for the 2401, the chart now says that it was a breach LL. I am not sure I like doing it this way since price did rise after this LL, and the only way I potentially could have taken the trade was to only leave the trend indicator on the chart and not have the 2nd trade indicator on the same chart.
Are you trying to learn this method or create your own? Either is fine, as long as you know which.
Again, READ the forum. ProfLogic has said the LABELS on chart N are produced from the ERG(N-1). So how would you do that with this indicator? It should be apparent. . .
Again, READ the forum. ProfLogic has said the LABELS on chart N are produced from the ERG(N-1). So how would you do that with this indicator? It should be apparent. . .
Ok, thanks. I guess I am somewhat trying to convert some of what's here to use with my own method. I see what you are saying.
Hey Oracle . . . the method is actually quite simple . . . don't try to complicate it . . .
Will you be frustrated b/c a perfect trade set-up resulted in nothing substantial to your P&L? Yes! Just wait for the next one . . .
Are you going to catch each and every large swing? No!
Are you going to have a PPF towards a Breach trade that only results in 2pts? Yes!
Are you going to have a Breach turn into a Breach in the other direction, but you missed the trade? Yes!
But, when you do get that runner, it will be a good one . . .
Also, watch how the indicators play with price and you'll be able to figure out a few more trades that you can take, not strictly "the method", but will [could] result in gains all the same . . .
Needless to say, all of those elements are in this thread . . . it's up to you to read and make sense of them . . .
I don't think people take it seriously enough when Prof says "Only screen time will show you" . . . I didn't at first, but look at it long enough and things will start to fall in place . . . have your mind set to "inquisitive" or "what if" mode . . . I promise you things will start becoming much clearer . . .
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