When to trade - how to predict intra-day action is going to follow through - and use discretionary controls to guide the automated trading system

Hi Tom,

the (hopefully) last element that I need to include is timing.

I'm (paper) trading CL with the below mentioned method. What I very often see is that you can literally feel when a move is about to occur. But it happens very quickly.

To make it short:

What tool and setting out of your great "speed & order flow" suite would you recommend that I can use to decide when it's the right time to start MTDS uSar and go for one attempt?

Thanks a lot,
Anton

********************************************************************************************************************************************

A very good question

If you are using a range based bar - barspeed
if you are using a time based bar - maybe atr or volume based or time and sales

maybe even a plain volume indicator

There in fact volume filters built in MTDS "Filter Modes"

did you not also study 

day of week
what previous days market conditions were: congestion or trending
what the higher time frame daily and weekly charts look like? are you pulled into a support and resistance zone with congestion ready for a breakout trending move?
try and align all of that ;-)

MicroTrends Support
support@microtrends.co
http://www.microtrends.co/support/

Tip! You can visit the help desk forum to see previous answered frequently asked questions:
http://microtrends.zendesk.com/forums

********************************************************************************************************************************************

Thanks Tom, I try to do what you mention. --> swing characteristics of the day of week incl. S&R with Renkos. What I would like to add is , to automatically look for the possible start of the battle to anticipate upcoming price movements. Directional prediction is not really key as long as the 2 or 3 swings (1 run) in total brings the profit goal.

Thanks again,
Anton

********************************************************************************************************************************************

Futures?
Volume profile…? POC …. Or VAT or VAB?
Are we going to breakout out Vol Pro…
I will add Vol Profile to it for you and maybe try to add range also

Also news days?
Day of month
Week of month

Futures/Currencies
Weekly open breakout? Or retest?

Add the MT Framework indicators:

1. MT ATR Range Grid Pro
2. MT Levels Dynamic Fib Grid Pro

What is statistically the best day to trade - Best Range....???  use the Range Grid General Parameter Pop Stats to tell you.. for one idea...  But what if it is Wednesday - but moneday,tues,wed were kinda congested and small range say 50% of typical.... is Thursday high probabiliy to reach 100% to 125%... where is its range at the London open - where is it at US pre open...? Its a common enough scenario...

maybe it hits 100% during the premarket and rests at the US - then look for a move back potentially... (or more breakout trending) does this line up with anything.... maybe thats all too mucg but if it lined up with a Value area top or bottom or weekly level... its got potential as the week has to try to make 2.5 Multiples of the Daily range on average...

Session opens can be a reliable point for that... predictive timing
i generally enter with some breakout + use the USAR also -  i hope this diagram can explain that...

Really there are only  3 trades: Bounce, Break  and Fake (with continuation after re-establishing the S/R level)

Check this - videos included:
http://blog.microtrends.co/2015/05/mtds-session-open-range-trader-quick-start-for-forex-automated-trading/

http://blog.microtrends.co/2015/05/mtds-session-open-range-breakout-autotrader/

i like to check many factors - and mainly enter the trade myself...
Kinda like this.... :

http://screencast.com/t/Se70HipdCtoy
i really make money with that one :-)

year,month,week,daily charts, 1440 minute (sundays) - then look at 30 to 10 range for instance.. for intraday timing of an entry - and try enter monday and exit friday with 1 trade.. ofcoruse that happens mayb 1 in 100 times.. but atleast i am running.... etc and super selective so my win ratio is high and my wins huge... so yes it works over time...

The robot cannot do it on its own... yet... i will try for this in a future version.

Hope that helps - fi you want this
http://screencast.com/t/Se70HipdCtoy

for futures or other asset classes let me know i will create a version for you...or if you got a fx feed open
MT FX Multiple Time Frame Analysis
then add the Futures List to the MArket Analyzer - whatever row you click on will load the charts with it...

you need
20 years daily
90 to 180 days minute
30 to 90 days tick

does that help or confuse?  let us know

So really we are looking at this scenarios for the usage of discretionary control on a trend system using an open session range to govern when it triggers a trade - or you are using the combination of this with trend  and higher time frame conditions -  this image shows a trend trader with the session open range overlayed to show where price breaks away

NinjaBuddy Realtime Controls allow discretion over the mechanical trading system

Limiting trading to almost 1 to 3 trades per session and using the open session range as the event zone to allow trading to take place

 The strategy is the session open range is the primary signal wit the USAR as the confirmation and trigger + also you could go 1 step further and tune into the higher time frames...  or the prior day ranges/ price cycles 

MicroTrends Support
support@microtrends.co
http://www.microtrends.co/support/

Tip! You can visit the help desk forum to see previous answered frequently asked questions:
http://microtrends.zendesk.com/forums