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wsam29

Chart Set-up

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Post your trading desktop setup here of your charts to give new traders ideas.

 

I myself have a 5 minute of ES, NQ, YM and ER2 along with TRIN, VIX, and PUT/CALL

 

I trade using a 2 minute of YM with TICKS below for comparison.

 

and volume.

 

everything is lined up so to speak to see any divergences between the markets to spot which one is "leading"

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desk2.thumb.jpg.6a0c1c8f7ecc0c587984655cd9d3c56d.jpg

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Thanks so much Nick ¡¡ It looks very good , will study and make you some feedbacks... would be nice to interact the usage... thanks again ¡¡ cheers Walter.

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Here is my setup.

 

233 tick chart with Heikin Ashii on the price bars using volume delta.

 

Internals you see are: TICK, TRIN, ADV, PREM. PC Ratio is on a seperate screen.

 

I also use a 30minute chart and two columns of tape.

mychartsetupsoultrader.thumb.jpg.1311503d23a9caf1dc2835bdc2910c16.jpg

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Browsfan : can you share a little bit whats your trading strategy on that chart ? thanks Walter.

 

Walter - let's see if I can... ;)

 

GREEN LINE = Quick MA

RED LINE = Slower MA

 

Blue candles = up candles

Red candles = down candles

 

The strategy is rather complex and difficult to explain here... let's give it a whirl - both MA's pointing up, consider long; both MA's pointing down, consider short.

 

You'll note that I use Share Bar Charts (aka Volume Based Charts). I used to use minute charts and found that the premise behind them is faulty in that who cares what happens in 3 minutes? I'm interested in knowing when there is action, aka volume. I want to see when there is action happening and volume charts do just that - candles rapidly fire when there is action (and when I coincidentally want in) and candles take longer to form when there is minimal action (and when I don't want to participate usually).

 

I would strongly encourage all traders, esp newbies, to examine Volume Based Charts / Share Bars in your trading. The end result to me has been phenonmenal. The 'holy grail' (to me) if you will. Just changing a simple setting on how you view the chart is what propelled me to the next level.

 

note - I obviously did not disclose the exact way I trade. That was done on purpose. I believe in learning things for yourself. I could easily disclose how I trade here, but inevitably most would consider it to simple and need/want to complicate it b/c it just can't possibly be that easy...

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