davewolfs

By thinking creatively. The ZenFire API is free and available to anyone who would like access. From there its a matter of bringing the data into NT in the same manner that you would with any other software.

The point that is missed by some, is that if you import your data into NT directly from Zen your latency really will not matter since all ticks are stamped based on exchange time and not on the time that they are received by your machine. If you process within NT you must estimate a ticks time based on the last time your machine processed a tick - which could introduce latency (up to 1 second) since you are estimating the time in which the trade occurred based on when your machine processed the data. The maximum precision of the Zenfire feed is in the milliseconds.

Rather then complaining you should focus on your own trading. If you can't read the signals end of day you should re-read the book.

No, your trade was appropriate and you should have re-entered. If you can't handle stops, trade another instrument.

The gap really didn't matter. We had a failed wedge yesterday up to the high and made two legs down. The upswing at the EOD was just the beginning out of the second leg and this morning was a continuation. The first bar was a strong bar and any trade on either side of a strong trend bar is a good trade. On the 9:50 bar, the market pulled back after all bull bars. This was an inside bar and a low risk long trade, we were only on our first leg up right now and I expected a minimum of two. From here the rally took off. Every pullback after this took off and not a single swing trade was stopped out. The highest risk trade was at the 10:05 pullback as this was 3.75 pts but it still worked. Either way, you could have swung from the previous entry and all would have been good. Bottom line, strong swings like this are far and few and when they show up you should be buying every H1, H2 that you encounter. Between scalps and swings on the morning session there were almost 25 pts to be made and if you refer to all the with trend examples in the book, I don't think that it gets much better then what we saw on the tape today.

If you played every pullback and the opening bar today today's chart was over 20 points and that is just the morning session letting a final position swing into the afternoon.

Can you elaborate on how this would not be useful for trading that is not in the summer time? Also, if you don't like giving up profits on the bar, why not swing your positions.

The M2S you traded on was an L1, I believe these work best when they are L2's. Additionally, after a strong bull rally, I would have been expecting a an attempt to put in another high and as you can see the market did so and then failed. Eventually rallying after the third leg down.

Could someone please define "Final Flag".

Quick scalp off the EMA at 2:10 EST and then opportunity opened at 3:30 we were at the bottom of the channel we had been trending in and also making a another touch down with the EMA.

I thought this was a good example, of how you need to be willing to get back in the trade even if things don't go your way the first try. As you can see this second entry was successful. After getting stopped out on my H1, I again re-entered and the market rallied shortly after. In hindsight, I probably should have bought at the H2 to begin with

Thanks for responding. The bar that you have labeled as H3 is an up bar but does not have a higher high then the previous bar, is this still considered an H type bar?

Hello everyone, I'm looking for a platform that is reliable and also supports paper trading (unsure if all platforms usually support paper trading). Being able to keep track of my performance record is also important. I was considering TradeStation and MultiCharts (primarily because of EasyLanguage, but am unsure if I can paper trade with either of these platforms). I'd also consider NinjaTrader. Any recommendations? Thank you, Dave

There are a wealth of examples in the book on trading resistance levels, double tops, double bottoms, lower lows, higher highs, previous high, previous low. Aren't these all forms of support and resistance?

In this example, which bars would be the H2 and H3 between the H1 and H4?

Aside from whether or not the entry is considered a high probability trade, when would what I have defined as H1 and H2 not hold? The reason why I ask is that I'd like to implement some subtle indicators simply to help coach what I see on the charts as I attempt to become more comfortable with this form of trading.

Would it be correct to say that a H1 is the first bar that is higher then the previous bar after a swing high has occurred and a H2 is the second bar that is higher then the previous bar but lower then the H1. Also, a leg is reset once a swing high occurs that is higher then the H1.

I didn't realize that the data is easily available from Yahoo for the daily values and it seems like this could easily be done in excel. Thanks for the help. How is Multicharts compared to the actual Tradestation platform? Are almost all TS Studies/Indicators backward compatible?

Will do. Do you know if TradeStation offers any sort of API that would allow me to download historical data, say I wanted to build my own database based on my own criteria.

Hey everyone, Quick question for you pros. Is there any software out there that will allow me to back test how the market reacted after a specific event occurred over the course of a specific time period. Say for example, the market hit a 20 day low and I wanted to know how many times the market bounced when hitting a 20 day low since 2000 and what the average return after the bounce was vs the average S&P gain over a two day period without previously hitting a 20 day low. I'm sure some sort of tool/package exists to compute these types of statistics, could this easily be done with TradeStation? Any recommendations would be appreciated. Thank you, Dave

No back testing experience, but I can program in Java and C++. To be more specific, I guess I was hoping that some sort of suite would exist that could be easily configurable to match on specific rule sets. As far of software goes, are there better alternatives to Ninjatrader, I don't mind paying if it is going to make my life easier.

So would I have to configure or program the software to execute buys under certain conditions to simulate this? Any recommendations on software?

Hey everyone, Quick question for you pros. Is there any software out there that will allow me to back test how the market reacted after a specific event occurred over the course of a specific time period. Say for example, the market hit a 20 day low and I wanted to know how many times the market bounced when hitting a 20 day low since 2000 and what the average return after the bounce was vs the average S&P gain over a two day period without previously hitting a 20 day low. I'm sure some sort of tool/package exists to compute these types of statistics. Any recommendations would be appreciated. Thank you, Dave

Thanks for those links. That article is great. Any similar style articles on the VIX?

Hello all, I'm fairly new to futures trading and would like to starting trading ES Mini futures. I've read that using the VIX and TICK can be good indicators in helping to understanding overall market direction and price action. I was hoping that one of you could point out how you use both of these indicators with your trading or perhaps provide a link to some info that explains when and how to use either the VIX or TICK. Thanks!