YM - ES - ER Strategy

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dfmccarty
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YM - ES - ER Strategy

Postby dfmccarty » Wed Oct 03, 2007 9:10 pm

Is anyone using TRO's indicators to successfully trade the YM/ES/ER and/or any other futures? If so would you be willing to share which indicators, the settings for those indicators, and your "methodology/strategy"? I am currently TESTING several of TRO's indicators in combination but have not found consistent settings or a consistant strategy. Any advice would be helpful.

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Russell

Postby zeller4 » Thu Oct 04, 2007 10:47 am

You could start by going through this thread started by Ed.

Kreslik Russell thread

Then, using TRO Trade Zones (or Buy Zones) and TRO Dynamic Fibs SR as the starting indicators, you'll find almost everything you need for a successful trading strategy.

HTH
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YM Screen Shot from 10/08/07

Postby dfmccarty » Mon Oct 08, 2007 10:07 pm

Ok I've read that suggested post (several times) along with many others. Now for some real world advice from anyone (but especially TRO). I've attached a screen shot of today price action on a 3min candle chart w/ Trade Zone & TRO_Dynamic_SR2 indicators. The TZ iOffset1 = 10 & iOffset2 = 30. So how should I have traded this "action"?
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ym u7 - eSignal1.gif2.png
ym u7 - eSignal1.gif2.png (124.88 KiB) Viewed 622 times

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Postby eudamonia » Mon Oct 08, 2007 10:19 pm

Thanks Kirk. You can also see some more recent info in "My Indicator is Broken" thread under General Talk.

dfmccarty,

Today was a golden opportunity for looking at the short side of the indicies. If you look at the thread from today it will give you a better picture.

Personally I used the BuySell Zone today to make over 6 points on the Russell. The YM and ER2 aren't that different (certainly not today). What you need to know is when to scalp and when to position trade. Where is the volume on your chart! Trading without volume is like fighting ninjas with a blindfold.

There were four shorting opportunities in the first 3 hours of the day. Volume would have told you to scalp the first 3 and position trade the 4th.

TRO has his own way of reading the tape, but that's my take. Hope that helps.

Edward
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

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Postby dfmccarty » Mon Oct 08, 2007 10:32 pm

OK Ed,
Here is the chart w/ volume.
Please . . . teach me.
Dennis
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ym u7 - eSignal1.gif3.png
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Postby zeller4 » Mon Oct 08, 2007 10:46 pm

Dennis,
since you are trading YM, you might be interested in TradeTheMarkets.

Hubert has some good free videos (however, using TS) - hope these links help. if they don't work, register for their free daily videos...

================================================================
From TradeTheMarkets.com - October 9, 2007 Daily Trading Videos.
=====================, ===========================================


Hubert's Video: No Free Video Packing for Austin but here is the Paid One..
http://clicks.aweber.com/y/ct/?a=U8ZmiQ ... ZrdFdNkrmg


John's Video: YM and EC plays for Monday.
http://clicks.aweber.com/y/ct/?a=U8ZmiQ ... 48yAs7dbkw


Kirk

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Postby eudamonia » Mon Oct 08, 2007 11:03 pm

Dennis,

Based on the freeze frame chart you've got above, it's obvious that volume right before 10:00 a.m. was significantly higher than it has been all morning. Since you are already in the trade (you are using the BuySell zone to scalp after all) you now know that there is an abundance of sellers. In fact if you observe the time and sales during that time you will see large orders hitting the book. This is an indication that you are in a momentum move and you should hold your position and make a few points.

Hope that helps.

Edward
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Postby eudamonia » Mon Oct 08, 2007 11:26 pm

The chart and my explanations below should clarify things a bit.

Edward
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YM_101_1.GIF
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Postby dfmccarty » Tue Oct 09, 2007 1:29 pm

Zeller4,
Thank you for the links, however, I am already a member of TTM. I just think that they charge too much for their indicators AND I think trading should be KISS. So I'm interested in TRO's indicators & strategys.

Ed,
Thanks for the "volume" tips, I'll add them to the strategy. However, if I could trouble you for some more discussion that would be great.

I noticed in your screen shot that you did not have the Dynamic_SR2 or 3 that TRO suggest using. I am using that indicator and, as you can see from my screen shot, "resistance" was blocking the "short zone" on the 9:57 bar (this is a 3 min chart set to CDT) AND the 10:00 bar pushes resistance almost half way into the zone BUT (checking tick charts & the 1 min chart) price never returns to the top of the short zone until 2:45. I was under the impression that you should wait until "someone else" pushes resistance into.thru the zone before entering a trade. Is this not correct? Do you have "exceptions" to this rule? How do you trade the prie action between 10:00 and 2:45?

Thanks in advance for the help,
Dennis

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Postby eudamonia » Tue Oct 09, 2007 4:03 pm

Dennis,

I'd say that following the S/R is a good idea under most circumstances. However, you've got to assess the market situation not just the indicator. The market has been in a tight range for 2 hours and just broke out to the down side on high volume. What is the market trying to tell you?

Secondly, if you insist on follow S/R in this instance you could have easily caught the retracement at 10:15 which bounced off of resistance. Remember that the buy/sell zone is a zone - not an ultimate price that is better than all others.

Remember the indicator is there to guide you. But you have to listen to the market first and foremost.

Edward
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

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