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Re: March Bonds/Holy Grail



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Hi Steve,

To answer your question, no, I use that session's data only. You'll
notice that by the time the trade would have been taken, though, the
14 bar period would have been passed, so ADX calculations should have
been up to speed.

The larger issue, though, is the fact that I don't regard any of these
indicators in a mechanical, systematic fashion. I am more of a
discretionary trader, relying on these set-ups to provide a "heads
up", but combining a number of different factors into consideration
when pulling the trigger.

In reality, I hardly ever refer to the ADX anymore when deciding to
trade the bounce against the EMA (no matter what the time frame). I
consider my own experience to be a better judge of the nuance of price
behavior, and whether or not the market is truly trending or not.
However, "Street Smarts" teaches the use of ADX, and I think its a
good tool to start with.

Bob Hunt

--------------------------------------------------------

swp wrote:
> 
> Bob - Are you computing the ADX including overnight trading? Steve
> 
> Bob Hunt wrote:
> >
> > I've received some questions about the Connors & Raschke Holy Grail
> > set-ups that I've posted as part of my automated print-outs concerning
> > bond futures. We had an excellent example for such a set-up on Friday.
> > Attached is a 5 min. chart with notes.