USER MANUAL - 1ShoppingCart.com · . We avoid trading through all U.S. reports and therefore, it's...

Copyright © 2016 by Traders Education, LLC

ETS Breakout Pullback

Designed for use in conjunction with our ProV3 Indicator for NinjaTrader 7.0®

USER MANUAL

Version 1.0 Release 1 July 31, 2016

ETS Breakout Pullback Copyright© 2016 Traders Education, LLC

of 14

Introduction Welcome and thank you for your purchase of the ETS Breakout Pullback Setup. We appreciate everyone’s enthusiasm and are excited that the project is now complete and wish to express our thanks to all involved in its development! Notice / Warning

This notice cannot and does not disclose or explain all of the risks and other significant aspects involved in trading FUTURES, but you should particularly note the following: Under margin trading conditions even small market movements may have a great impact on the customer's trading account. You must consider that if the market moves against you, you may sustain a total loss greater than the funds deposited. You are responsible for all the risks and financial resources you use and for the chosen trading system. It is important that you should not engage in trading unless you understand the nature of the transaction you are entering into and, the true extent of the exposure to the risk of loss. This product may not be suitable for all investors; therefore, if you do not fully understand the risks involved, you must seek independent advice. All trading strategies are to be used at your own risk. Traders Education, LLC is not responsible for any losses incurred as a result of using any of our trading strategies and/or software. Past performance is no guarantee of future results. This manual should not be relied upon as advice or construed as a recommendation of any kind. It is your responsibility to confirm and decide which trades to take. Trade at your own risk. Background As many of you may know, we've long been on a quest to remove as much subjectivity from our trading methodologies as possible. To this end, we spent a considerable amount of time and resources developing what we felt would be a wonderful companion to our existing set-ups. The Breakout Pullback stems from the repeated observation of our original Double Failure condition and the corresponding price action surrounding this event. We knew that some of our students were having trouble with the emotional aspect behind their trading and we felt the addition of a non-subjective strategy would offer the perfect complement to our PTS trading methodology. Hence, the introduction of the Breakout Pullback. Prerequisites

1. NinjaTrader 7.0 Please note that this manual assumes a basic understanding of the NinjaTrader® 7.0 Platform. If you don't already possess this knowledge, there are several resources provided by NinjaTrader to help you get up to speed. For example, within the NinjaTrader Control Center


of 14

select the Help facility and search for “Video Library.” You will see a list of several categories and their associated video content:

Quick Start Guide Charts Control Center Window Data Grid Market Replay

You may also wish to check out their comprehensive training webinars: http://www.ninjatrader.com/ProductEducation.php

2. ETS ProIndicatorV3 Indicator

If you're not an existing license holder of our ProV3 Indicator, please find a brief installation guide below. Current ProV3 licensees may skip directly to page 6. Installation The ETS TickTrader ProIndyV3® is protected and licensed software that can only be operated on preauthorized machines. To administer this, we require the unique NinjaTrader Machine ID from each machine on which it’s installed. If you have not already done so, please locate your Machine ID which can be found under the NinjaTrader Control Center > Help > About > Machine ID and forward this along with your full name to [email protected]. Make sure you provide the 32 character Machine ID and not your NinjaTrader License Key. Please note that if we identify your particular Machine ID as a duplicate in our system, you may be required to create a unique identifier. (Appropriate instructions will accompany this request.)

To install the Indicator, please follow these instructions:

If you are installing an upgrade or a new version of the software, you must first uninstall the older existing version of the software through the NinjaTrader Control Center and select File > Utilities > Remove NinjaScript Assembly. Pick the older version of the software you wish to uninstall and click Ok. You must then shut down your NinjaTrader Platform to avoid any software conflicts and then follow the instructions below to continue.

http://www.ninjatrader.com/ProductEducation.php

mailto:[email protected]


of 14

Installation: Component Install

□ At this point, it's imperative that you close/shut down your NinjaTrader platform before you begin the installation process. Failure to do so will result in an invalid file reference and possible corruption of the strategy.

□ Once you have navigated to the link provided and are presented with the file for download, click ‘Save’ or ‘Save as’ and take note of the folder to which the file is downloaded. It is recommended that you choose your desktop as the file’s destination. Do not rename the file. You may now click ‘Save.’

□ Once the download is complete, you should see a .exe file on your desktop similar to the

one below.

□ Double-click this file to begin the installation process. □ The installation manager will open and you will be prompted to continue. □ Click ‘Next’ to proceed. □ You will then be presented with the End User License Agreement. Please read the

agreement in its entirety as you must agree to the terms in order to proceed. □ Next, you will be presented with a “readme” file that outlines the files to be installed on

your computer. □ Click ‘Next’ to proceed and begin the actual installation process. □ Follow any remaining prompts and click “Finish” when complete. You may now restart your NinjaTrader platform.


of 14

ETS TickTraderProIndyV3®: Chart Application (ES - 1600 Volume)

To apply the Indicator, simply right click anywhere on a chart, choose “Indicators” and scroll down until you see “etsTickTraderProIndyV3.”

Now you may either double-click on your highlighted selection or click “new.” This will place the Indicator in the bottom left sub-window and “activate” the parameters. Please note that it's beyond the scope of this manual to provide detailed explanations regarding the many available parameter options in ProV3 and as such we will only focus on those directly related to the ETS Breakout Pullback.


of 14

Next, please change the default Parameter and Display values to those highlighted below:

Parameters: p01_ETS_MsgCenterOn - (0)

p22_PUL_SetupOn - (1)

p24_PUL_SetupCancelOn - (0)

p25_PUL_SuppressPlotOnCancel - (0)


of 14

Display:

p49_NSE_FilterABCBackColor - Change Color to "Transparent"

**All remaining parameters should be left to their default settings.**

ETS Breakout Pullback SETUP & RULES

Create a 1600 Volume chart of the front month ES contract. Right click the chart and go

to Indicators. Now, highlight 'etsTickTraderProIndyV3' in the menu and click the 'NEW'

button; make the appropriate parameter changes as outlined above and then click 'OK'.


of 14

Setup

The overall initial setup requires no subjectivity and is very easy to recognize:

1. Utilizing Prov3, identify a Double Failure condition as indicated by a preliminary

dashed vertical line coupled with an orange back color.


of 14

2. Next, wait for the first available Pullback hash mark while in double failure (color

and intensity of hash mark is irrelevant) and place your entry order to

correspond to the hash mark's price level.


of 14

3. Once the trade has resolved itself, you may take the next available pullback only

if the double failure condition is still met. In other words, take every available

pullback trade while in double failure. Trades are only valid if the hash mark

plots Inside of double failure with one caveat; If no pullback signal presents

itself during double failure, take the first available signal following the exit of

double failure. Keep "chasing" the hash mark with your order until filled or

canceled.

4. Ignore any new setups while in an existing trade.


of 14

We begin trading the setup at 9:30 a.m. EDT and do not take any trades until a double

failure condition presents itself after the open. Additionally, it's imperative that you're

cognizant of the daily economic news reports which can be found at

www.forexfactory.com. We avoid trading through all U.S. reports and therefore, it's

extremely important that you check the release times each and every day.

ATM Settings When setting up your ATM, a multiple target/contract setup is suggested. Based on three contracts, for example, we use an initial stop loss of 6 ticks, a breakeven and trailing stop of 4 ticks coupled with target settings of 4, 6 & 8 as illustrated below. The stop strategy is the same across each target/contract.

http://www.forexfactory.com/


of 14

Economic Reports & Trade Nuances

1) How long after a report should I wait before initiating a new trade?

You cannot put an exact time on how long to wait after a report is released. In some instances, it may be 2 minutes or more depending on how much impact the report has on the market. You'll want to watch the price action to ensure the market has settled down by focusing on the price bars to confirm there are no unusually large spikes (relative to the market's average bar size); we also keep an eye on the speed of the bar formation (pace of the tape). If it's moving extremely fast, it’s best to wait for this to settle out before taking the next available trade.

2) How long before a report should I sit out and NOT take any more trades?

If the market is moving slowly, we will not enter a trade around 10 minutes before a scheduled news release. In the event we are still in an existing trade and a news release is approaching, we look to close out the trade 2 to 3 minutes prior to the release at the best available price, preferably in our favor.

3) Does the Breakout Pullback have a "cancel" rule?

Yes. Just like our existing setup's, the Breakout Pullback utilizes the cancel rule. In other words, if price action touches your entry price, but does not fill you, and then continues on to achieve four ticks of positive excursion, you would cancel the order and look for the next trade.


of 14

4) Must the Double Failure condition be a certain number of bars before it's valid?

Yes. There must be a minimum of 2 price bars within double failure for a set-up to be valid.

5) How do you determine whether the pullback hash marks indicate a 'long' or 'short' trade entry?

When the hash marks plot above the channel mid-line, this indicates a long pullback entry and when they plot below the channel mid-line, a short pullback is indicated. See chart explanations below.


of 14

6) How do you handle contract rollover?

We do not trade the Front Month the day before or the day of contract rollover.

Support & Conclusion This concludes the ETS Breakout Pullback User Manual and we hope that you find the setup beneficial to your progression as a trader. Should you have additional concerns or questions, feel free to contact us at [email protected]. All software support requests must include a screenshot of both your chart and current parameter settings in order to accurately troubleshoot any potential issues. Thank you, ~ETS Staff

mailto:[email protected]

USER MANUAL - 1ShoppingCart.com · . We avoid trading through all U.S. reports and therefore, it's...

Documents

Transcript of USER MANUAL - 1ShoppingCart.com · . We avoid trading through all U.S. reports and therefore, it's...