@injpowwetrust .. it isn't all me .. for the last couple of months I've been following a YouTuber each morning starting at 6:15 AM AZ time .. he claims to make a lot of $$ which may or may not be true .. all I know is the better I understand his strategy the better my trading gets .. was thinking earlier that I may soon eliminate a couple of indicators and just be trading price action .. so my charts may soon have pivots .. vwap .. 3-movavg's .. && supply/demand .. charts that are simple and easy to read

of course, part of the success is the button strategy setting the profit target for each trade .. just don't think trying to set the profit target manually and/or close the trade manually can be as lucrative ..

went to my NT8 and marked up today's chart for NQ .. the diagonal line represents my first trade .. the horizontal lines represent bear flags that would have netted 40+ ticks each .. or about 6 trades with the potential of about 40 ticks each or 240 ticks .. and relatively low MAE which translates to low small stop-loss

don't want to be accused of spamming the site so won't post his info here but can DM his link to you ..

NQ 09-23 (30 Second) 2023_08_24 (6_50_38 PM)

not my best day .. profit targets were too much for the early part of the session and ended up getting stopped out .. so switched to SIM accounts as I continued trading and building the new strategy that moves the buttons to the price chart .. the buttons are bigger and think the position will be more convenient .. just can't figure out how to move my order parameters as can be done with ATM strategy .. but then can't set S/L && T/P in ATM as can be done using NinjaScript .. which is why I need the BreakEven && Trail Stop buttons ..

GAP got filled .. both the Close[ETH] && Close[RTH] were reached .. Close[ETH] is what you see if you look at daily bars .. Close[RTH] is what you see when you look at the last intraday bar .. the difference being the electronic settlements that occur after the close and before 4:15 PM EST

OR-Breakout .. well, guess we could say it happened .. wasn't very pretty .. but then the early part of the day wasn't very pretty

Pivot Point acted like a wall and the price bounced off of it .. need to know where these levels are and trade accordingly .. which pretty much means don't trade around pivots

23 08 25.fw

@mewddsltd

- nah, that is all you ... you pulled the trigger. Sure, send me their info. If they have a decent following and have been active for the past few years, I probably came across their content.
You cant go wrong with learning a couple of new things that work. They would be great to add into your toolbox.
- I agree still trying to figure out the right S/L, or R:R ... I keep bouncing back and forth. I've remove T/P target, just kept my B/E and S/L the same for now.
- nice, saw something similar this morning @ ~7:27 PST, all hindsight couldn't get it right while trading live.



08.25.2023 - Day XX : +$242/371 : $2369/3000 - difference between accounts now due to weird glitch this morning.

Well, today I went through the fire and came out of it extra crispy. First trade was a dud, the next three trades were green. I was up around somewhere between 150-200. 7AM PST hit, it went bonkers. The trade I was in hit my max S/L -40 ticks. It then reversed and then RTP didn't close out of it after hitting my S/L. To be fair I was dazed and kept holding my "reverse" trade.. I was still processing how that had happen, or what had just happen. Either way, I was diligent in checking my RTP, turns out I am now down ~1300 after exiting manually. Always double check, RTP.... It could of been due to some lag, but definitely it registered in my head that was some kind of economic news. Well that was a blunder, I've now add an addon to keep track of news, "jtEconNews". If anyone else has any other addon relating to news, please share.

I kept my head on straight, I've made it back in the past. I'm sure that can catch a few waves today. I went and disabled my daily loss limit and my position size. I took extra care not to add to my losers, only winner and made sure my max position size wasn't more than 30. Overall I'm happy, I did alright, I held on too long on some of my losers... need to figure out how to exit quicker. I wasn't able to catch any 100ticks wave today, but Ill get it one day!

What a week, let just reset and bang it out for 3 more days. I'm confident I got these two evals into the clear for phase 2. My daily loss limit and my position size settings are enabled again.

Hope everyone got theirs today! Good Luck next week!

Avg MAE/Avg MFE for both long and short were good imo. close to 1:2, cant complain with that


Screenshot 2023-08-25 084540

mewddsltd 

not my best day .. profit targets were too much for the early part of the session and ended up getting stopped out .. so switched to SIM accounts as I continued trading and building the new strategy that moves the buttons to the price chart .. the buttons are bigger and think the position will be more convenient .. just can't figure out how to move my order parameters as can be done with ATM strategy .. but then can't set S/L && T/P in ATM as can be done using NinjaScript .. which is why I need the BreakEven && Trail Stop buttons .. GAP got filled .. both the Close[ETH] && Close[RTH] were reached .. Close[ETH] is what you see if you look at daily bars .. Close[RTH] is what you see when you look at the last intraday bar .. the difference being the electronic settlements that occur after the close and before 4:15 PM EST OR-Breakout .. well, guess we could say it happened .. wasn't very pretty .. but then the early part of the day wasn't very pretty Pivot Point acted like a wall and the price bounced off of it .. need to know where these levels are and trade accordingly .. which pretty much means don't trade around pivots 23 08 25.fw

Damn, yeah high R:R dont always hit their target ... good thinking on switching over to SIM. I need to enforce that habit. Yeah, that is tough situation. I've got use to ATM strategy now, I just use hot keys to breakeven on my position.

Quoting 

OR-Breakout .. well, guess we could say it happened .. wasn't very pretty .. but then the early part of the day wasn't very pretty

Yup, it wasn't a fun ride on the wrong side.

Oh interesting, see that you moved your buttons to the bottom of the main chart ...what are your settings for trail stop?

@injpowwetrust

OK .. I'm a big boy .. can admit that I screwed up .. the XABCD News indicator was removed from my chart while I focused on creating a strategy with buttons in a different location the .. did not realize Fed-Powell was speaking till it was too late ..

you can see from the chart image posted today .. Fed-Powell was scheduled to speak (vertical pink line) just before the market went crazy ..

it is kinda like the guy at the game .. it doesn't matter if you have the right tools if you don't use them correctly ..

moving the buttons to the price chart puts all of my trade information in one location .. all on one line across the chart .. AND right next to the price action ..

my initial trailing stop is set to the difference between the current ASK/BID price and the controlling swing low (long trades) or controlling swing high (short trades) .. what my strategy does is
1) get the current ASK/BID price
2) get the current Controlling Swing Low/High price
3) determine the difference between the current price and the controlling price ± offset/tick-buffer price
4) convert the difference to ticks
5) use the ticks in SetTrailStop ..

the NT8 hotkey will only get you to break even .. the trader is still on the hook for the commission .. plus, not sure it would work for me because I am using SetTrailStop and that cant be used simultaneously with SetStopLoss

still working on the algorithms behind the BreakEven && TrailStop buttons .. my goal is to move to the break-even ± an offset to cover the commission .. I am using much the same logic as above but instead of the controlling swing low/high I am using the Position.AveragePrice

think I may have found all of my calculation/programming errors .. so I'm really excited to see how the buttons work next week ..

23 08 25a.fw


nyone

mewddsltd 

for the last couple of months I've been following a YouTuber each morning starting at 6:15 AM AZ time ... don't want to be accused of spamming the site so won't post his info here but can DM his link to you ..

There's no problem with posting a link or discussing another trader's work, so long as the link isn't to something that you are selling, or getting paid to plug. If you're promoting it for money, or getting paid in some way, don't do it. Otherwise, it's fine. Even if they are charging. You just shouldn't be.

In fact, it can be helpful to others to point out things that you have made use of, and would recommend.

Bob.

Quoting 

the NT8 hotkey will only get you to break even .. the trader is still on the hook for the commission ..

yeah so true.

Quoting 

moving the buttons to the price chart puts all of my trade information in one location .. all on one line across the chart .. AND right next to the price action ..

love it!

Quoting 

Controlling Swing Low/High price

What do you mean by controlling? How do you get that?

Quoting 

think I may have found all of my calculation/programming errors .. so I'm really excited to see how the buttons work next week ..

Awesome, rooting for you! Good Luck next week, hope you get great fills!

mewddsltd 

@injpowwetrust OK .. I'm a big boy .. can admit that I screwed up .. the XABCD News indicator was removed from my chart while I focused on creating a strategy with buttons in a different location the .. did not realize Fed-Powell was speaking till it was too late .. you can see from the chart image posted today .. Fed-Powell was scheduled to speak (vertical pink line) just before the market went crazy .. it is kinda like the guy at the game .. it doesn't matter if you have the right tools if you don't use them correctly .. moving the buttons to the price chart puts all of my trade information in one location .. all on one line across the chart .. AND right next to the price action .. my initial trailing stop is set to the difference between the current ASK/BID price and the controlling swing low (long trades) or controlling swing high (short trades) .. what my strategy does is 1) get the current ASK/BID price 2) get the current Controlling Swing Low/High price 3) determine the difference between the current price and the controlling price ± offset/tick-buffer price 4) convert the difference to ticks 5) use the ticks in SetTrailStop .. the NT8 hotkey will only get you to break even .. the trader is still on the hook for the commission .. plus, not sure it would work for me because I am using SetTrailStop and that cant be used simultaneously with SetStopLoss still working on the algorithms behind the BreakEven && TrailStop buttons .. my goal is to move to the break-even ± an offset to cover the commission .. I am using much the same logic as above but instead of the controlling swing low/high I am using the Position.AveragePrice think I may have found all of my calculation/programming errors .. so I'm really excited to see how the buttons work next week .. 23 08 25a.fw nyone

Hey @handspin , wasn't sure if I should post on your journal but .... what do you mean by

Quoting 

foreign dollar swaps, but this via sr1/3 futs

is dollar swap referring to forex exchange ... and what is sr1/3 futs? Thanks for posting!

@injpowwetrust

it is just semantics .. I get that not everyone will refer to these points as "controlling" swing high/low .. instead just say swing high / swing low .. this is just left over from my training ..

a controlling swing high .. controlling swing low goes back to my training and is the extreme point of a retracement .. goes with the idea that an uptrend is higher highs && higher lows while a downtrend is lower highs && lower lows .. so an uptrend is an uptrend until the price creates a low that is lower than the previous swing low

thinking about automatic position sizing for my strategy .. since the strategy will calculate the maximum stop loss (in ticks) I can use this information to determine the number of contracts the AccountEquityGuard | MaxDailDrawDown will allow me to trade and not exceed the MaxDailyDrawDown based on the maximum stop loss

something like this ..

CurrentAsk/Bid.Price - SwingLow/High.Price = Stop Loss Price Differential
StopLossPriceDifferential X TicksPerPoint = StopLossTickDifferential
MaxDailyDrawDown / ( StopLossTickDifferential X $$ per Tick ) = Maximum Number of Contracts per this trade that won't exceed the MaxDailyDrawDown

so, if I am willing to risk $175 per trade .. and I enter a trade where the StopLossPriceDifferential is 6.50
.. 6.5 X 4 = 26 StopLossTickDifferential
.. $175 / ( 26 X $5 per Tick ) = $175 / $130 = 1.35 contracts

alright, so that isn't going to work .. need to round down 1.35 and we get 1 mini contract .. of course, less than one contract means I'm switching to micro contracts

dotdash_INV-final-Trade-Broken-Trendlines-Without-Going-Broke-Apr-2021-01-ec719481ae534e4ba9cadb481c8b4c9b

forgot to mention ..

letting the strategy calculate the position size will do one more thing .. if the strategy determines the trade has the potential to exceed the MAXDrawDown then the strategy can draw text in the middle of the screen to alert me and not place the trade ..