Idea on 5 Min Trend Catcher Plots?

#1

I second that idea, that would be great! In fact, if there was a way that you could make it so it says "look for _____ contract at ______ strike with a stop trigger at _____ and a take profit of _______, that would be fabulous. Almost like combining the P3 signals with TC. You would still be able to learn that way because you would be able to see WHY its saying that with the chart, but it would be much less stressful and simple for beginners. I would definitely pay money for that. Just my thoughts :slight_smile:

#2

The number of signals can make you dizzy. I’ve been looking mainly at signals that follow the apex pattern, that covers the confirmation rule and reduces the number of signals I have to keep up with. If the apex is long I pull up all of the buy strikes and put in my max risk so I can take the best strike when the signal happens. I’ve only taken a few trades so far but for now I need to focus on fewer signals and add more in as I go along.

#3

I just thought of two other things that would be very helpful: in the training videos, I would love to see the systems carried out in real time from start to finish on a trade, with your thought process on each step. That would be extremely helpful. The other thing would be a written manual for each system. Seeing things in writing step by step is the way I learn best.

#4

How would we know if the bar is going to last 3 minutes when the pending pops up…we cant know that as we dont know how long the bar will last.

We can’t tell you what strike to take you have to choose that for yourself based on your trading style and what is available.

I dont really use the stop trigger on 5 minute binaries. if im not okay with sticking with the trade i don’t enter. You can use it if you want but in my opinion is moves to fast in price on to small a move to make it worth using the stop trigger in the last 5 minutes.

If its worth it your going to have to memorize the 3 basic rules there are not a lot of rules to consider. Dont make it harder than it is.

3 basis rules TC direction Bar closes in TC Direction Bar less than 3 minutes

These 3 apply to everything

Then it just on flips 1 of these or more apex lines up and/or volume exceeding and/or velocity bars

In between flips 1 of these or more Volume exceeding and/or Velocity and/or Small timer bars sequentially happening

There is rarely more than 1 (sometimes 2 or 3 in 5 minutes should not be getting dizzy). If the strike is there and price is there you like take it if not pass till the next trade.

Have your scanner open before your looking for signals. Once you see signals then open the tickets and be ready. Before the 5 minutes start you can open tickets and be ready.

There is your manual its that short.

I show entering a order and taking profit on one live in the course under submit.

Its just going to take some practice newbie you get 11+ opportunities per hour on 4 instruments that is potentially 44 or even more trades in an hour. Im sure you can get it down. Just do it in demo take the pressure off and get the muscle memory down.

#5

Thanks Darrell for the reply; that makes sense about the not being able to know how long the pending bar will take…I guess I was just dreaming out loud :slight_smile: And thanks for breaking down the rules. The good news is that since I last posted in this thread, I have gotten the rules for TC down perfectly. I have become interested in IBF’s, am going to try my hand at those, but I will continue with trend catcher as well. I had an epiphany of sorts regarding it as well. When I had first started doing it, I was sitting staring at the charts and then if I saw a solid signal I checked the scanner, but I realized that it would work much better to be looking at the scanner and then if I found one that fits the pricing I’m looking for I should check the charts. That has made things much smoother for me. I realize that may be a no-brainer, but sometimes my brain isn’t always the most logical ha ha.

#6

Hey Darrell, I’ve got a follow up question for you specific to the 5 minute binaries. I’m sure given your experience trading that you’ve been through pretty much everything. You said that if you’re not okay sticking with the trade you don’t enter and that the stop triggers aren’t the best for the 5 minute binaries. Is there a rule of thumb you use to bail on a trade if it swings against you? I know these trades can swing from $10 down to up $30 in a heartbeat, but if you happen to be down $20, $25 or $30 I wonder if it’s most often best just to cut bait on those? Thanks!

#7

Well when i do use tge stop trigger i exit when the strike proce is hit doing an atm binary.

Often 5 min are so close if it swings against me and comes back i exit If possible