NexusFi: Find Your Edge


Home Menu

 





THREE SET UPS


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one Jeff Castille with 215 posts (430 thanks)
    2. looks_two cunparis with 146 posts (154 thanks)
    3. looks_3 shodson with 125 posts (211 thanks)
    4. looks_4 Fat Tails with 73 posts (189 thanks)
      Best Posters
    1. looks_one Fat Tails with 2.6 thanks per post
    2. looks_two Jeff Castille with 2 thanks per post
    3. looks_3 shodson with 1.7 thanks per post
    4. looks_4 cunparis with 1.1 thanks per post
    1. trending_up 251,841 views
    2. thumb_up 1,369 thanks given
    3. group 124 followers
    1. forum 1,073 posts
    2. attach_file 239 attachments




 
Search this Thread

THREE SET UPS

(login for full post details)
  #581 (permalink)
 vegasfoster 
las vegas
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Velocity/IB
Trading: 6E
Posts: 1,145 since Feb 2010
Thanks Given: 304
Thanks Received: 844


cunparis View Post
This tells me after 15 minutes might as well exit because things don't get better. Not a huge difference but still, less time in the market is better.

Whether the position was profitable or not didn't make a difference really, best just to close it out.

I'm not sure if I'll use a timestop or not. I usually get impatient and trail a stop so I don't know if it makes a difference for me.

What about moving the stops to the high/low of the previous bar so they are tightened by you are still in it? Just a thought.

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Request for MACD with option to use different MAs for fa …
NinjaTrader
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
Looking for an MQL4 MetaTrader programmer/coder
The Elite Circle
Futures Close-Out Policy
Commodities
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Retail Trading As An Industry
73 thanks
Battlestations: Show us your trading desks!
35 thanks
Just another trading journal: PA, Wyckoff & Trends
34 thanks
Spoo-nalysis ES e-mini futures S&P 500
28 thanks
Daytrading ES & NQ
26 thanks

(login for full post details)
  #582 (permalink)
 vegasfoster 
las vegas
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Velocity/IB
Trading: 6E
Posts: 1,145 since Feb 2010
Thanks Given: 304
Thanks Received: 844


Fat Tails View Post
I believe there is no edge in just trading insíde bars.

Before this thread I would have agreed with you 100%, but at least for now simply filtering on instrument, time frame, and times of the day combined with good money management seems to be providing profitable results. I have been looking at this and there are many inside bars that I would have never considered taking before, but with 8/16/+1 atm, these trades are working. For how long, who knows, but I don't see anything wrong with taking advantage while it is working.

Reply With Quote
The following user says Thank You to vegasfoster for this post:
(login for full post details)
  #583 (permalink)
 
cunparis's Avatar
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
Posts: 2,565 since Jun 2009
Thanks Given: 1,162
Thanks Received: 2,093



vegasfoster View Post
What about moving the stops to the high/low of the previous bar so they are tightened by you are still in it? Just a thought.

It's a very good idea. If I have time I'll test it.

I think trailing stops on a smaller chart such as 1min or even a tick chart is the way to go. That's what I've been doing.

So far the profit factor in my backtests is around 1.5 and in my real trading it's 1.6 so my results are consistent with my backtest results.

Follow me on Twitter Reply With Quote
(login for full post details)
  #584 (permalink)
 
shodson's Avatar
 shodson 
OC, California, USA
Quantoholic
 
Experience: Advanced
Platform: IB/TWS, NinjaTrader, ToS
Broker: IB, ToS, Kinetick
Trading: stocks, options, futures, VIX
Posts: 1,976 since Jun 2009
Thanks Given: 533
Thanks Received: 3,709

This is how I like to be greeted by Mr. Market when I wake up in the morning!


Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
(login for full post details)
  #585 (permalink)
 
shodson's Avatar
 shodson 
OC, California, USA
Quantoholic
 
Experience: Advanced
Platform: IB/TWS, NinjaTrader, ToS
Broker: IB, ToS, Kinetick
Trading: stocks, options, futures, VIX
Posts: 1,976 since Jun 2009
Thanks Given: 533
Thanks Received: 3,709


Fat Tails View Post
I believe there is no edge in just trading insíde bars.

If this was possible, we all would become rich, quickly. Many guys who are a lot smarter than we are, would have discovered this long ago, and according to the efficient market hypothesis, any edge would have disappeared as a consequence of their trading.

Thanks FT, your insight is very valuable and these are some filters I'd like to research some more with my backtesting. I am not convinced I have a statistical edge, but my testing leads me to believe that I do, at least in the short-term, so I roll with it. I appreciate your skepticism and concern for what we're doing because it keeps me on my toes and motivates me to make the systems perform better.

While my trading results may never be as impressive as yours the thing I like about what I do is that my trading happens while I'm asleep, while I'm working, while I'm driving on the freeway, spending time with my family, on vacation or anywhere else I may be while the markets are open. I actually spend more time on futures.io (formerly BMT) than I do watching charts or a DOM in real time, though I do read a lot of charts post-mortem.

So even if I eek out small to moderate profits I'll be content. In the meantime I'll continue to improve them by coding more sophisticated filters and more exhaustive testing. And I enjoy the challenge of "hacking the markets" and always learning something new about trading so I'm good with the path I'm currently on.

Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
The following 5 users say Thank You to shodson for this post:
(login for full post details)
  #586 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,099


vegasfoster View Post
What about moving the stops to the high/low of the previous bar so they are tightened by you are still in it? Just a thought.

I am trailing the second half of my second position, until I have a clear sign (volume) that the move is exhausted. Still I am not happy with this, as often I am either getting stopped out or I am taking profits early.
I still need to find a better method to exit the second half of my position.

The first half position is easy, as I just wait for the target or the stop to be hit, whatever comes first.

Reply With Quote
(login for full post details)
  #587 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,099

Hi shodson,

actually I am not trading CL, but I am trading 6E (European morning) and YM or ES (European afternoon). I intend to switch at some point, but currently this is not compatible with my risk allowance.

I have tried inside bars on ES and YM and the results were not as good as I had hoped.

As the approach looks valid to me - enter the market during low volatiity - I just worked on it. I think it will give a real edge, if combined with other rules, so I am currently looking for filters to sort out the bad trades. As you can see from my post, they are not formalized yet in a way that I can backtest them.



shodson View Post
Thanks FT, your insight is very valuable and these are some filters I'd like to research some more with my backtesting. I am not convinced I have a statistical edge, but my testing leads me to believe that I do, at least in the short-term, so I roll with it. I appreciate your skepticism and concern for what we're doing because it keeps me on my toes and motivates me to make the systems perform better.

While my trading results may never be as impressive as yours the thing I like about what I do is that my trading happens while I'm asleep, while I'm working, while I'm driving on the freeway, spending time with my family, on vacation or anywhere else I may be while the markets are open. I actually spend more time on futures.io (formerly BMT) than I do watching charts or a DOM in real time, though I do read a lot of charts post-mortem.

So even if I eek out small to moderate profits I'll be content. In the meantime I'll continue to improve them by coding more sophisticated filters and more exhaustive testing. And I enjoy the challenge of "hacking the markets" and always learning something new about trading so I'm good with the path I'm currently on.


Reply With Quote
The following 2 users say Thank You to Fat Tails for this post:
(login for full post details)
  #588 (permalink)
 
shodson's Avatar
 shodson 
OC, California, USA
Quantoholic
 
Experience: Advanced
Platform: IB/TWS, NinjaTrader, ToS
Broker: IB, ToS, Kinetick
Trading: stocks, options, futures, VIX
Posts: 1,976 since Jun 2009
Thanks Given: 533
Thanks Received: 3,709


Fat Tails View Post
I am trailing the second half of my second position, until I have a clear sign (volume) that the move is exhausted. Still I am not happy with this, as often I am either getting stopped out or I am taking profits early.
I still need to find a better method to exit the second half of my position.

The first half position is easy, as I just wait for the target or the stop to be hit, whatever comes first.

This is one reason I like target-based trading. Sure, you sometimes leave a lot on the table, like I did this morning, by getting out too early, but every trend-trading system I've looked at has exits that also leave a lot on the table because they wait for an exit condition, or trail stops too loosely, leaving a lot on the table when the trend is reversing. Also, in chop a winning trade that goes a fair number of ticks turns into a loser because the exit condition fires while taking a loss, or trailing the stop too tightly whipsaws them out. I just haven't found a good exit strategy for runners that I'm comfortable with for trend trading. I think exits are a lot harder than entries.

Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
The following user says Thank You to shodson for this post:
(login for full post details)
  #589 (permalink)
 
cunparis's Avatar
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
Posts: 2,565 since Jun 2009
Thanks Given: 1,162
Thanks Received: 2,093

well today was interesting.

The first trade: My intuition told me it wasn't going anywhere so I got out +1. It would have stopped out so I did well.

2nd trade: I got stopped out at the absolute low of the pullback. Now that sucks!!! My max stop is 31 ticks which I determined from my backtesting. -31 ticks.

3rd trade: I got out early with 13 ticks. But for some reason I was still long. I don't screw around when that happens, immediately closed it for +10. Turns out I had put my buy order on, then somehow changed the ATM Strategy and put on a second buy order. So I got lucky with an extra 10 ticks.

Total: +1 -31 +13 = -17 plus +10 free bonus accident ticks = -7 total.


Follow me on Twitter Reply With Quote
(login for full post details)
  #590 (permalink)
 
Jeff Castille's Avatar
 Jeff Castille 
Northern California
 
Experience: Intermediate
Platform: Ninja Trader
Broker: Amp Futures/ Zen-Fire
Trading: YM and CL
Posts: 2,109 since Jun 2009
Thanks Given: 1,783
Thanks Received: 3,303



cunparis View Post
well today was interesting.

The first trade: My intuition told me it wasn't going anywhere so I got out +1.

2nd trade: I got stopped out at the absolute low of the pullback. Now that sucks!!! My max stop is 31 ticks which I determined from my backtesting. -31 ticks.

3rd trade: I got out early with 13 ticks. But for some reason I was still long. I don't screw around when that happens, immediately closed it for +10. Turns out I had put my buy order on, then somehow changed the ATM Strategy and put on a second buy order. So I got lucky with an extra 10 ticks.

Total: +1 -31 +13 = -17 plus +10 free bonus accident ticks = -7 total.


I appears as though you are ignoring the news.

Follow me on Twitter Started this thread Reply With Quote





Last Updated on May 15, 2014


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts