Hi all!

Here’s an example of bill’s arrows on Ninja on a 4-point range chart. Now that I have my TS -> Ninja data connection working, I don’t need to use 1-minute charts any more! Note how clean and easy the exit with the end-of-trend indicator is!

Here’s an example from a 1597 share bar chart:

… and one of my readers was asking for some box play + volume splitter examples. Well, here’s a screenshot with two:

The first breaks out to the short side, with nice confirmation from the volume splitter. The second breaks out to the long side, again with nice confirmation from the volume splitter.

I go over the full day, every trade, both entry and exit criteria, on my newest charts. Pretty freaking awesome, I think. :-)

Also, this post has some important trend-identification tips. Basically, if the candles are green and going up, the trend is up. If the candles are red and going down, then trend is down. I know it sounds like I’m being condescending, but the sad fact is most beginning traders over-think this stuff. In some ways, my best advice for the self-proclaimed “smart” traders out there is: stop thinking, start trading.

I’ll be going over this again later in the eotpro live room tonight for our indicator lesson night. People who attend will have a chance to ask questions and offer insights.

We played a game today in the eotpro live room, that I think I had seen in an article by Linda Bradford Raschke a long time ago. I’m not sure. [Edit: I found my original post on it here. Anyway, the idea is to pick a timeframe, and set a timer for some random amount of time near that timeframe. When the buzzer goes off, you must make a directional trade. And, you must stay in the trade for the amount of time you picked. Then, you repeat the process.

Obviously, you do this in a sim account!

The idea is, I think, twofold:

• You improve your market intuition. You can do this exercise with your indicators on, and you can do it with your indicators off to help you as a chart reader. You can do this exercise watching only the Level 2 quotes to improve your tape-reading ability. The possibilities are endless. And, since you are making trades, you are more likely to stay focused and interested in what you are doing. So many traders, myself included, can’t watch the markets without their eyes glazing over, if they are not trading.
• You get over your hesitancy to get in a trade. If you follow the rules, you must act… even if you are not sure of the market direction, you have to pick a side. I think this ability translates well when you go on to do actual trading. The best traders I know tend to have a market bias in their head even before their entry signal pops up. Then, they can act immediately when their intuition and their signals match. It’s a real advantage.

Doing this exercise at several time frames is useful, because your bias for the next 5 minutes will be different than your bias for the next 30 minutes, for example.

Anyway, my time in the live room covers the lunch hour, so we rarely get big moves while I’m on. In a low-volume environment, it’d be best to chose 10 minute windows, probably. To keep things exciting, though, we went for 2 minute windows. That is: I set a timer for 2 minutes. When it went off, the room voted to get in long or short. I got in and set a timer for 2 minutes. When the timer went off, I got out of the trade. Then I set a timer for two minutes to trigger our next entry.

Even in this horrible choppy section of the market:

We broke even exactly after 4 rounds. And, sadly, not 10 seconds after our last exit, the market surged in our favor. We would have had a big sim profit, if time were just shifted a short amount. Those are the breaks! We’ll probably play this game once a week or so, since people had fun.

Here’s the end of the day on my new charts. Don’t worry, you can still be manly and weep at the beauty of these signals.

As I told people in the eotpro live room, I am going to my first dance lessons tonight. Yeah, that’s not a typo. So, I don’t have time to post much, but here is an example trade from my screens today:

The new charts have been good lately! Today was pretty bland til the end of the day…. I showed people how I use my overview charts to gauge market direction… so people in the live room knew I was waiting for that short.

This is for reader Jeff, who requested it. Sadly, I do not have time to write much about it, but I think the charts speak for themselves. We had a rough day in the EOTPro live room today, as there wasn’t a lot of follow-through on the moves on our normal charts. Basically treading water… win, lose, win, lose. My new experimental charts fared quite a bit better, which is encouraging! There were still a mix of wins and losses, but some of the wins were outstanding!

I’m a happy camper.

Anyway, here’s the charts up to a little after 3PM Eastern. I’ve got to run some errands and get ready for some social events tonight. Later.

I’m feeding live TS data into my ninjatrader chart this morning. I’ve had a couple Bill’s arrows show up:

Sorry that on these screenshots, they blend in a little with the paintbars. In future charts, I’ll color the arrows all Yellow or something, like I do on tradestation and multicharts. Of course, you can set the arrows to any color that you want when you subscribe! :-)

As if you weren’t jealous enough already, I thought I’d show you how the open went for my new charts on the ES futures:

Remember that each candle body on this chart is a point wide, and you can estimate how nice your morning can be with my EOTPro Elite Series indicators on your screen. :-)

Ok, I’m taking the rest of the day off, as usual. See you tomorrow!

This is actually the first ninjatrader indicator I wrote, to figure out how their programming interface would feel. I just remembered that I had the code earlier tonight, and that it was probably sitting somewhere on my hard disk. I found it!

You can see two box plays on this chart (the purple dots on price action outline the boxes, and the blue dots give the price targets). They both work, but the second one has more going for it, in that there is a Patty B signal and slightly better market sync bias at the breakout point.

I haven’t mentioned the box play in a while… if you are new, or don’t recall it, check out this post on the box play, which gives a pdf manual for using it. I know some people in the eotpro family use it with great success. I really like it, but it hasn’t found its way onto any of my charts in a while… hmm…

In this video, I go over the entire day on my new charts. I think they look pretty darn awesome. The best part of all is that I only showed the trading chart, irrespective of the context chart… I think it’s great that the trading chart does that well alone, without any more input.

Even if you were simple-minded, and took every single signal, you’d come out ok. I point out a couple of the signals that you obviously would want to avoid, in my opinion. But, count them all and you’ve still got a massive up day.

I will be very curious to see how the chart holds up over the next week. I don’t know if I have the energy to profile a stock today… anyone have any suggestions for stocks?

I recorded a live trade today, using my Sim account. I’m trying out my new charts, and I’m loving them so far. Too bad I didn’t record the trade just before this one… but you can see clearly on the chart how nice of a drop it was. Oh yeah!

It was pretty volatile down there, and I got out just in time… with help from the eotpro end-of-trend indicator.

Yes, we are almost there with the ninjatrader release in October. And, the initial release will have a couple more indicators than I had promised! For ninjatrader customers, I’ve produced the most flexible Rolling-VWAP indicator yet! Rather than having a separate RollVWAP1, RollVWAP5, etc., now the length is just an input, so you can have any divisor of 60 that you want. So if you’ve been jonesing for a RollVWAP6 or RollVWAP2, then you can finally have it. It corrects inputs that don’t divide into 60, so you can even be lazy about that. Also the depth of the nesting is fully configurable, so you can fine-tune the “speed” of the rolling vwap like never before. I’m really enjoying playing with that.

So, with the rolling VWAP in place, I went ahead and provided my favorite paintbars. They are based on the rolling VWAPs, and Alla’s Average. You’ve seen them on many of my screens, and they’ve been available on the forums for elite-series customers for a while.

Here’s a screenshot:

On this you can see Alla’s Average, a rolling VWAP, and the paintbars. I’ve also ported the improved code to Multicharts and Tradestation, and will release that to elite-series subscribers in the October release. So, you’ll soon have any flavor of rolling VWAP that you want on those platforms, too.

Reader Jeff requested Bucyrus International, Inc. (Nasdaq: BUCY) for our stock of the day, and I’ve complied. :-)

As always, I show the whole day on a super-simple trend-following system using a couple eotpro indicators. I take all the setups and exit when the volume pressure changes color, no questions asked. I want to leave very little room for discretion, so that you know I’m not just making stuff up… these indicators are really good! Period. (I should know… I developed them myself)

We have 7 trades, for 5 wins and 2 losses. The net gain was $0.95 per share.

Enjoy!

Stocks Mentioned In This Article
Stock	Links
BUCY	| |

Here’s a trade I captured… sadly the audio and video keep separating as the video progresses… but it’s still watchable, I think.

Here I show how, with a little luck, I managed to get out at the exact bottom tick of the move. Hitting the exact tick was luck, but knowing it was time to get out came directly from the indicators, as you’ll see. As always, the standard disclaimer applies, that this is for entertainment only, and not investment advice, blah blah blah cayman islands blah blah blah hookers and blow blah blah blah.

Enjoy!

No one suggested a stock for me today, so I picked a favorite of many daytraders… Apple Inc. (Nasdaq: AAPL). Why did I pick it? It’s the last chart I looked at, the last day I had this workspace loaded. :-) Yeah, laziness wins again…

If you’ve been following these posts, you know I just want to show you that a couple eotpro indicators and a little common sense can produce real profits… and it can be done on stocks. So, I’m taking an entire day’s session in a stock, and highlighting every single trade that sets up as mechanically as possible. And I do mean mechanical. For instance, we exit our position the first time the bid/ask histogram changes color on us. You can see in today’s trades that better money management would leave less money on the table, but I wanted to do something dirt simple.

Anyway, here are the AAPL charts from today. It’s 6 trades, for 5 wins and 1 break/even (actually a 7 cent win). 4 were short and 2 were long. The net gain was about $7.25 per share.

Not bad… *puts on advertising voice*… if you like what you’ve been seeing here, and use Tradestation or Multicharts (and, very soon, NinjaTrader), then why not check out my Elite Series over at eotpro? I developed these indicators, and use them, and now offer them to you at a reasonable fee. Pretty cool, eh?

Stocks Mentioned In This Article
Stock	Links
AAPL	| |