I’m going through the videos and made a short summary of rules to refer to. I’ll add to it as I go along but wondered if I have any basics wrong or am I missing any key parts. Thanks for any input.
REVISED BELOW
elite mvp rules, summary of rules, mvp reversal, momentum scalp trade, apex elite entries, apex elite entries add ons made easy, apex elite mvp reversals example easy 5 steps
REVISED
APEX ENTRY
APEX AND MVP MATCH COLOR
ENTER 3 TICKS BEYOND E BAR (WITHIN 3 BARS) If long (green) the E’s high must be broken by 3 ticks within 3 bars this is the entry price. Is short (red) the E’s low must be broken by 3 ticks within 3 bars this is the entry price
STOP LOSS 5 TICKS BEYOND P BAR If long (green), then the stop loss to exit is 5 ticks below the P bars’s low If short (red), then the stop loss to exit is 5 ticks above the P bar’s high
TRAIL STOP WITH DASHED MVP LINE
IMPORTANT: When it hits -1 +1 or more dev levels or dev high to low on deviation indicator and bar closes in opposite direction with exceeding volume (think momentum trade at a deviation level opposite your trade) you will want to tighten your stop or consider tightening it versus letting it retrace to the MVP line (ie tighten stop to where a Momentum Scalp entry would be).
MVP REVERSAL
(ie a long MVP reversal would have two red APEX’s red MVP line with a green arrow and the the Red P Bars must have sequentially lower Highs
(ie a short MVP reversal would have two green APEX’s green MVP line with a red arrow and the the Green P Bars must have Sequentially higher lows
It is important to understand this is a REVERSAL trade. Meaning it happens after the market has been trending. If you have a flat oscillating market that just happens to have the same MVP color and just happens to have the P’s at the right levels to qualify that is not a reversal trade. Make sure the market is in fact trending before trying to take a MVP reversal.
[/i] 2. OPPOSITE MVP ARROW
IMPORTANT: When it hits -1 +1 or more dev levels or dev high to low on deviation indicator and bar closes in opposite direction with exceeding volume (think momentum trade at a deviation level opposite your trade) you will want to tighten your stop or consider tightening it versus letting it retrace to the MVP line (ie tighten stop to where a Momentum Scalp entry would be).
MOMENTUM SCALP TRADE
BAR EXCEEDS VOLUME (If Up close bar then Long Setup, If down close bar then short setup)
HI/LO OF THAT BAR IS BROKEN WITHIN THE VERY NEXT BAR BY 3 TICKS (hi if up close / low if down close)
BAR SIZE IS PROFIT TARGET (LESS 3 TICKS)
STOP LOSS IS THE LOW OF SETUP BAR IF LONG, HIGH OF SETUP BAR IF LONG
TRIAL STOP TO LOW OF ENTRY BAR IF LONG ONCE IT CLOSES, TRAIL STOP TO HIGH OF ENTRY BAR IF SHORT WHEN IT CLOSES
OPTIONAL TRAILING STOP EXCEEDING VOLUME - MAY TRAIL STOP USING DASHED MVP LINE (THOUGH USUALLY NOT AS PROFITABLE AS JUST SCALPING)
TIPS & CAUTION: A day where volume is consistently at or exceeding expectations ie more than 1/5 bars is usually a much better day to do this strategy. Not only are there more trades but the trades tend to work out better.
Use caution like in all trades when approaching a +1 or -1 deviation line or high to low as the markets often tend to reverse at these points.
Go here for some momentum scalper info: http://apexinvesting.net/forum/apex-elite-mvp-system-q-212/momentum-scalper-rules-atm-strategy-setup-1405.html#post4692
Add Trail stop when it hits -1 +1 or more dev levels or dev high to ow on deviation indicator and bar closes in opposite direction with exceeding volume (think momentum trade at a deviation level opposite your trade)
Elite Example and Rules Step By Step
Elite MVP Reversals
Momentum Trades
Thank you very much. Having this printed out will help keep things straight when looking at charts.
added this to clear up some confusion on APEX ELITE MVP REVERSALS
(ie a long MVP reversal would have two red APEX’s red MVP line with a green arrow)
(ie a short MVP reversal would have two green APEX’s green MVP line with a red arrow)
elite mvp rules, summary of rules, mvp reversal, momentum scalp trade, apex elite entries, apex elite entries add ons made easy, apex elite mvp reversals example easy 5 steps, apex elite mvp reversals.
[quote=wmiller561]REVISED
MOMENTUM SCALP TRADE
BAR EXCEEDS VOLUME (If Up close bar then Long Setup, If down close bar then short setup)
HI/LO OF THAT BAR IS BROKEN WITHIN THE VERY NEXT BAR BY 3 TICKS (hi if up close / low if down close)
BAR SIZE IS PROFIT TARGET (LESS 3 TICKS)
STOP LOSS IS THE LOW OF SETUP BAR IF LONG, HIGH OF SETUP BAR IF LONG
TRIAL STOP TO LOW OF ENTRY BAR IF LONG ONCE IT CLOSES, TRAIL STOP TO HIGH OF ENTRY BAR IF SHORT WHEN IT CLOSES
OPTIONAL TRAILING STOP EXCEEDING VOLUME - MAY TRAIL STOP USING DASHED MVP LINE (THOUGH USUALLY NOT AS PROFITABLE AS JUST SCALPING)[/quote]
As said above and on the video around 1 min mark, the Stop Loss is to be put at the low of setup bar. But in the test, it says at the low of the previous bar. Just wanted either clarification of when to do either or to point out the dependency if it is just a mistake. Thanks.
-Jonathan
BMX REVERSAL TRADE - SHORT ENTRY (my first attempt)
When instrument seemingly runs into resistance, and has formed an A bar, draw a box from the high of A bar down either 5 ticks or half the bar size, whichever is greater. (see bar settings page under elite menu for what to use)
If the market gets within the zone but doesn’t break it within 2 bars, then it is a potential BMX.
It 2 bars are completely outside the BMX zone. It then becomes BMX Reversal once
On a short BMX reversal entry it breaks the low of the 2nd bar by 3 TICKS.
On A long BMX reversal entry if if it breaks the high of the 2nd bar by 3 ticks
On a long put your initial stop at the low of red A bar and once MVP flips, trail the stop with it.
Made a couple small edits for you on this. This is among the harder trades to do. And works even better on smaller bar sizes. We are working on automating this in a apex pattern beta version.
One adjustment to the rules above when using a larger tick size than 6 for Diagnostic Bars:
Instead of the 3 tick break of the E or Arrow bars on Entries, I prefer to enter after the Subsequent Bar CLOSES in the direction of the break. This is equivalent to a number of ticks 1/2 of the chart bar size selected, for example: 7 ticks for a 14 tick bar size chart