Five Tick Trading

[walterw]

And the scalpers version of Bernies momentum efect... aint that nice...





gotta love Bernie... he normally injects some nice momentum climate... cheers Walter.

[ztrader]

	Quote:	walterw
	and when the weakness is gone my fxmm 30 starts to make nice divergence... that means we will probably refresh back to mid band... cheers Walter.

Nice catch, Walter. Here is how I grabbed mine minutes ahead of the Bernie Show on a bounce off of HOD. Walter, you may have to start a new thread on forex with your FXMultiMap outside of this Five Tick thread. As always, your analysis is always appreciated.

ENJOY!

ztrader

[walterw]

Sweet short EJ ¡¡ very pipastic as usual ... yes I will start a thread, I am sorry for hijacking this one, basicly I think I wanted to add the market climate consideration previous to the 5 tick setup... so the 5 tick setup is a cycle counter setup, so in order to work you must have a cycle consolidation climate... cheers Walter.

[Trader333]

	Quote:	walterw
	200 cci readings "may" mean exhaustion as his aproach is ... but you may be cautios as it may also mean momentum... the method is nice and clean, its countertrend... ideal on cycle days climate... the play is refreshing back to the mid band... I would add to it a false break setup (M type) to make it a little more robust...my 2 cents. cheers Walter.

The play is not refreshing back to the mid band, he just takes 6 or 7 ticks off the table in profit from whatever price he gets in at and that is it. I tried it today as an experiment with one of my accounts and made 5 trades, (1 was scratch because I accidently hit buy when I intended to sell) and 4 were profitable with a net profit of 18 points after commission. You have to be very quick with this approach as it is a mini counter trend momentum method which can quickly exhaust.

Also I don't see how he is making a living out of this because he trades the Emini Dow (YM) which is $5 per tick. He takes two trades a day and then stops and it appears that he makes around 14 to 21 ticks in profit which is 12 to 19 after commissions. So that equates to between $60 and $95 a day (or £30 to £48 as he is UK based) and that is not enough to live on in my view.



Paul

[walterw]

	Quote:	Trader333
	The play is not refreshing back to the mid band, he just takes 6 or 7 ticks off the table in profit from whatever price he gets in at and that is it. I tried it today as an experiment with one of my accounts and made 5 trades, (1 was scratch because I accidently hit buy when I intended to sell) and 4 were profitable with a net profit of 18 points after commission. You have to be very quick with this approach as it is a mini counter trend momentum method which can quickly exhaust. Also I don't see how he is making a living out of this because he trades the Emini Dow (YM) which is $5 per tick. He takes two trades a day and then stops and it appears that he makes around 14 to 21 ticks in profit which is 12 to 19 after commissions. So that equates to between $60 and $95 a day (or £30 to £48 as he is UK based) and that is not enough to live on in my view. Paul

well 60 to 95 dollars "per contract" will make it... you can trade 50 contracts very confortable on YM... so that will make you 3000 to 4750 per day... could that be enough ? cheers Walter.

[Trader333]

I agree but he doesn't trade more than 2 contracts and often only 1 on the YM. Also the volume on YM is a fraction of that on ES so if I were going to use multiple contracts I would mostly use ES


Paul

[walterw]

	Quote:	Trader333
	I agree but he doesn't trade more than 2 contracts and often only 1 on the YM. Also the volume on YM is a fraction of that on ES so if I were going to use multiple contracts I would mostly use ES Paul

Well he probably needs to grow on the volume psicological barrier... trading volume demands certain psicological preparation, but if his method its good enough, he should be able to grow quite fast to a 50 contract level... on ES you can trade much more Paul... its just on your mind the hability to manage larger orders or not... cheers Walter.

[traderandreas]

Hi Guys,

Can someone please post the indicator adxvma that allows for 3 inputs like in Walters posts ie adxvma(2,1,ema).

thanks,
Trader

[ztrader]

	Quote:	traderandreas
	Hi Guys, Can someone please post the indicator adxvma that allows for 3 inputs like in Walters posts ie adxvma(2,1,ema). thanks, Trader

Andrew,

Please check if one of these is what you're looking for. They are for Ninjatrader and Metatrader4.

ENJOY

[traderandreas]

Hi Ztrader,
Thanks for your prompt reply. I tried to import the adxvma into ninja trader but was unable to due to programming errors.

Could you pls repost.
thanks,

Trader