How do you use TRO's indicators? Post screen shots.

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zapzinig
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How do you use TRO's indicators? Post screen shots.

Postby zapzinig » Wed Sep 13, 2006 11:17 pm

This is how I use the dynamic sr2 showme and the !_msheiner_text_2f on the 5 min Russell 2000 futures.

First I wait until after 11:30 est. Then I draw trendline on previous dynamic support and resistance. 10:15 and 10:55 blue dots support. I waited until

The first trade was a short at 12:10 from the close of the gap and 2 purple resistance lines from msheiner indicator as well as dynamic resistance(red dot) I used this reversal point and the 9:35 dynamic resistance to draw the upper trendline. Notice the large open space of 3 points from 718 to 715. These are the fast move zones msheiner speaks of.

When market reached lower trendline and blue dot dynamic support I reversed my position. At 1:50 the market hit dynamic resistance at 720.50 and the previously drawn trendline connecting 9:35 and 12:10 red resistance dots. I reversed my position here.

At 2:45 I exited my short and was done for the day. 4 trades net 15 points. I like to be done before 3:00. Not bad for 3.5 hours.

Not every day works out to have this large a channel with such little resistance. Today was 6 points I look for 5 or more points between pivot points.

Watch the market movement and see how it stops at the dynamic SR points these can also be played for .5 pt scalps through out the day.
Wait until the market makes a few support and resistance dots if the last dot was blue wait until it hits a red dot and stops moving. Short it for a quick .5 I set my stop for 1.4

I use the matrix with tradestation and the oco/oso feature. One click places the shortlimit, buylimit and buystop. The move is fast usually under 2 minutes. If it takes longer than 10 minutes look to exit at close breakeven

How do you use TRO's indicators? Post screen shots.
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Postby TheRumpledOne » Thu Sep 14, 2006 12:42 am

Please post this on the TradeStation forum in the Trend Indicator thread.

Thanks!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby rosenskier » Thu Sep 14, 2006 7:47 pm

Hi Zapzing,
That screen shot was extremely helpful. However, this day (9/7) looks a little too textbook to repeat consistently. There are large channels and perfectly parallel trendlines that were actual S/R spots. Can you provide one more screenshot with a less than ideal chart and describe how you would trade it?
Thanks
Jason

zapzinig
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More typical day 9/14 - I scalp these days

Postby zapzinig » Fri Sep 15, 2006 2:07 am

Hi Jason,
I agree that 9/7 screen shot is not a normal day. Today was more normal. The first two hours were very choppy. I prefer to scalp on these type of days. That means .50 profit target with 1.4 stop loss I use the oso/oco feature on the tradestation matrix and enter all 3 orders with one click

Here is where I drew my trendlines during the day.

Resistance red
9:35-11:30
12:50-13:40

Support Blue
10:50-11:40
10:50-11:55
10:50-12:40
10:50-13:10

Notice the 11:50 bar goes through the blue trendline but there is no bule dynamic support dot. I do not buy here. Market closes this bar under the blue support trendline. This trendline now becomes a resistance tl and I look for a red resistance dot that stops moving on the trendline. At 11:55 a blue dot forms and I draw the second blue tl.

On the 12:05 bar the market touches the underside of the first blue trendline and makes a red dot. I sell here for a half point. Previous mid and open are here at this point as well providing more resistance.

12:10 new blue dot so I draw new blue support tl

12:30 notice the bar just touched the trendline but it did not make a new bright red dot - so no trade.

12:40 buy at third trendline with blue dot for half point profit.

12:50 the market had two trendlines it choose to stop under the second blue tl (now resistance) range to sell 734.30 to 734.80 I sold at 734.50 also horizontal resistance from 10:00 (msheiner indicator) Half point profit.

13:05 market did not stop at the third blue support tl
but just below at 733.30 horizontal support I bought market kept falling to 732.10 (2 ticks from my stop). It then reversed and stopped moving at 733.30 again. It had been more than 10 minutes since entry so I look to exit at or near break even if the trade goes past 10 minutes. I exited at 733.10 for a .20 loss

13:40 short 734.50 at just under third blue tl. I waited until after market moved thru red resistance tl as it did at 12:50 made half point fast profit.

13:50 buy at 732.80 off blue dot on 4th blue tl for half point profit.

Stop drawing trendlines by 14:00

14:25 I could have shorted here for a half point but I did not, I wanted to wait until market reached the third red tl.

14:35 touched third red tl and red dynamic resistance dot along with 734.50 horiz tl shorted at 734.30 for a half point profit.

14:40 after three lower highs the market fell through the apex of the first red tl and the 4th blue tl. I was not in on this move since I exited last bar with .5 profit.

I stop trading by 15:00

Total seven trades 6 profitable .5x6= 3 points one small loss -.20 total for the day 2.8 points.

This is more of a typical day than 9/7/06

--z
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Postby rosenskier » Fri Sep 15, 2006 6:02 pm

wow zapzing, that was real art. well done.
thanks for the screen shot and the well detailed explanation.
i'm going to start trying this out on my own and hopefully i can provide some screenshots in the future.

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Postby zapzinig » Fri Sep 15, 2006 6:38 pm

Watch the market for a few weeks to get the hang of it. Keep a notebook and be honest with yourself about entries and exits. When you use stop/limit orders on entry like I do you will not always get filled. Real market conditions will be slightly different from notebook preformance.
Look forward to seeing your screen shots.

--zz

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Postby TheRumpledOne » Sat Sep 16, 2006 10:06 pm

Hey zapzinig try this...

Go long if it breaks HORIZONTAL DYNAMIC RESISTANCE and go short if it
breaks HORIZONTAL DYNAMIC SUPPORT.

Looking at your chart, there's some good scalping there!!
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Postby rosenskier » Mon Sep 18, 2006 6:05 pm

From what I recall in the original Scheiner post (I haven't read it in a while), he did what you are suggesting TRO. He used the line as a breakthrough point and try to fill as much of the gap until the next line as opposed to using the line as an S/R spot. I think the main difference is that Scheiner was looking for one good trade to do each day and then go play tennis. I'm sure both are successful depending on your discipline, but its definitely worthwhile to test out both ways.

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Postby rosenskier » Thu Sep 21, 2006 5:55 pm

hi zapzing. any screenshots lately? i've been building some but my lines seem to run all over the page, i'm not keeping it clean.
my biggest trouble now is figuring out when to play a .50/1.40 risk reward, and when to try to ride the entire gap.
next week i will likely go live with 1 contract trades. i'm not getting much value with notebook trading because i don't focus the entire 3 hours after 11:30.
if you have any useful shots from this week, i would appreciate the lesson. thanks.

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Postby Gert Frobe » Fri Sep 22, 2006 9:01 pm

here is Feierabend's conversion of the TRO_SM_CONTROL_PMSM5 working in a wave59 charting program. thanks avery this is the first verision of it it still needs some work. i like the placement of the SM on top of the bars.

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