Hi friends-experts
Bill mcready uses a trading system for futures trading.
The details are as below as given by UBERTRAADER
========================================
Futures trading Course (Bill McCready)
Exits: quite clear
Entries: I will have ro re-read and re-watch all vids to make sure I see the right setup at the right time.
This guy found a proper use for Pesavento Patterns, it's either an exit OR wake up call to start watching for signals coming in form other indicators(the Ergodic is my long time favorite but I would not say it is not lagging because it is not as bad as conventional indicator/oscillator but still lagging even if McCready thinks not).
The indicators template are "privatized" meaning you cannot modified the way they are displayed.
I did not like it cause I wanted the signals to be clearer in my mind on my screen by modifying/adding colors/widths/alarms/zones.
So I took every indicator one at a time and overlaid an indicator on top of it to determine the exact parameters because they are not clearly defined in the book/video.
I was thinking all the indicators were based on the CLOSE only... not so
PARAMETRES SETUP MCCREADY FTS
2 charts: 133 ticks and 550ticks he is using the small trend setting but I prefer close versus open (or better Heikin-Ashi)
MOVING AVERAGES(2) PLACED ON PRICE
49 EMA (H+L+C)/3
89 EMA (H+L+C)/3
-------------------------------------------------
STOCHASTICS PLACED IN SUB-WINDOWS 1
7 3 SMOOTH (H+L)/2
14 7 SMOOTH (H+L)/2
21 7 SMOOTH CLOSE
------------------------------------------------
ERGODICS PLACED IN SUB-WINDOW 2
7 28 7 EXPONENTIAL EXPONENTIAL (H+L+C)/3
28 112 1 SMOOTH CLOSE
-----------------------------------------------------
If you know your way around Ensign Software that is sufficient info to setup the charts properly but it will not give you the rules to determine entries and exits and so far for me it is not crystal clear how to make this setup work properly. Don't even know if it is worth trying to make it work BUT so far the things I understand make sense so I'll keep reading and experimenting up to a point where I will decide if I'll will give it a shot with real cash.
If somebody knows more about this system,please do share.
I am interested in mq4 inicators for the above.
Can somebody help tell us more about the system and its edge if any?
thanks in advance
There are pesavento patterns which give decision edge.
I havent seen any pasavento thing on mt4 .
see the chart-looks so different.
by the way EMA 49 AND EMA 89 ARE USED BY TWO WORLD FAMOUS MENTORS.
Bill mcready uses a trading system for futures trading.
The details are as below as given by UBERTRAADER
========================================
Futures trading Course (Bill McCready)
Exits: quite clear
Entries: I will have ro re-read and re-watch all vids to make sure I see the right setup at the right time.
This guy found a proper use for Pesavento Patterns, it's either an exit OR wake up call to start watching for signals coming in form other indicators(the Ergodic is my long time favorite but I would not say it is not lagging because it is not as bad as conventional indicator/oscillator but still lagging even if McCready thinks not).
The indicators template are "privatized" meaning you cannot modified the way they are displayed.
I did not like it cause I wanted the signals to be clearer in my mind on my screen by modifying/adding colors/widths/alarms/zones.
So I took every indicator one at a time and overlaid an indicator on top of it to determine the exact parameters because they are not clearly defined in the book/video.
I was thinking all the indicators were based on the CLOSE only... not so
PARAMETRES SETUP MCCREADY FTS
2 charts: 133 ticks and 550ticks he is using the small trend setting but I prefer close versus open (or better Heikin-Ashi)
MOVING AVERAGES(2) PLACED ON PRICE
49 EMA (H+L+C)/3
89 EMA (H+L+C)/3
-------------------------------------------------
STOCHASTICS PLACED IN SUB-WINDOWS 1
7 3 SMOOTH (H+L)/2
14 7 SMOOTH (H+L)/2
21 7 SMOOTH CLOSE
------------------------------------------------
ERGODICS PLACED IN SUB-WINDOW 2
7 28 7 EXPONENTIAL EXPONENTIAL (H+L+C)/3
28 112 1 SMOOTH CLOSE
-----------------------------------------------------
If you know your way around Ensign Software that is sufficient info to setup the charts properly but it will not give you the rules to determine entries and exits and so far for me it is not crystal clear how to make this setup work properly. Don't even know if it is worth trying to make it work BUT so far the things I understand make sense so I'll keep reading and experimenting up to a point where I will decide if I'll will give it a shot with real cash.
If somebody knows more about this system,please do share.
I am interested in mq4 inicators for the above.
Can somebody help tell us more about the system and its edge if any?
thanks in advance
There are pesavento patterns which give decision edge.
I havent seen any pasavento thing on mt4 .
see the chart-looks so different.
by the way EMA 49 AND EMA 89 ARE USED BY TWO WORLD FAMOUS MENTORS.