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$100.00 A Day...

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  #31 (permalink)
 
HJay's Avatar
 HJay 
USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus/Zen-Fire
Trading: futures
Posts: 147 since Aug 2009

Confirmation occurs at the "Color Change" of the next bar(s)..

So if this occurs at a new LOW of the day you are looking to enter at the close of the first BLUE bar or even the first YELLOW bar (if your paint bar study supports that and you are aggressive). Look at the image now that you know this and see if it makes sense.

By the way, this just happened successfully on the YM (See Image @ 12:00) as it does for all instruments through out the day (at the HI's/LO's).



Now, here is the real gem, your STOP LOSS is defined as a break of the LOW (in this example). Generally this is very small compared to other strategies. If the play backs up on you before hitting your target and then breaks to new lows, you don't want to stick around anyway so that is where you place your stop.

This is the word of TRO.... not anything I figured out on my own mind you..

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  #32 (permalink)
Jugador
USA
 
Posts: 162 since Jul 2009
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HJay View Post
Confirmation occurs at the "Color Change" of the next bar(s)..



This is the word of TRO.... not anything I figured out on my own mind you..

Tro's a good man...a little "loud" sometimes lol, but he shares a lot of good ideas. Okay, color change, that's interesting.

Here's another idea (I also got from someone else)

Sometimes a 5 range bar will give a nice "reversal bar" signal. I like 5 range, but you could go as short as 3 range or as long 10. Just depends on your comfort zone. With a 5 range your risking about 6 ticks.

Here's a screenie of todays ES signals. Of course, as I'm sure you've discovered, in a strong trend you can get stopped out many times in a row. But, on days like today, it's trader heaven.

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  #33 (permalink)
 
HJay's Avatar
 HJay 
USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus/Zen-Fire
Trading: futures
Posts: 147 since Aug 2009


I'll take that ratio everytime.. Yeah but to your point Jugador this is not something you have great success on Trending days for sure. This is just another tool to add to a bag of tricks for those chop days, or Keltner days, whatever you want to call them. They do happen often and with a defined stop,...



Had someone been stalking the YM today with this in mind they could have snatched close to 100 points!!! using this method on the 14:13 bar.

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  #34 (permalink)
Jugador
USA
 
Posts: 162 since Jul 2009
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Had someone been stalking the YM today with this in mind they could have snatched close to 100 points!!! using this method on the 14:13 bar.

Damn...that chart gave me a hard on...

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  #35 (permalink)
 
HJay's Avatar
 HJay 
USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus/Zen-Fire
Trading: futures
Posts: 147 since Aug 2009

One thing is for sure, no way am I going to be able to adjust my life enough to get up at 4:00 in the morning to trade,.. This is just not going to happen. Tried it yesterday and spent the rest of the day in a semi-sleep walk. Nor am I going to trade at a time that is considered less than optimal as many have told me. That only really leaves me to trade the last hour in the day. I will start to post my entries at the close of the day from this point on.

The good news is that I am comfortable with my chart set up so I feel like that is behind me at this point. Today I entered on the play that Jugador and I were chatting about yesterday. The good news is the one I entered worked out nicely. The not so good news is that the next time this set up occured it went for 50 points all the while with me on the sidelines.


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  #36 (permalink)
 
HJay's Avatar
 HJay 
USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus/Zen-Fire
Trading: futures
Posts: 147 since Aug 2009

I woke up this morning (at my regular time ) and checked on the 6E. It was anything but Chop Zone so I decided to watch it awhile. As long as there is activity I dont see harm in still trading at this time. However, most days at this time, is not like this. Is is typically bound in a small range with very little participation. Anyway the 6E was moving and I wanted to catch some it.

3 Trades in all and all gained some profit. In all three trades I made +3 on the 1st contract and stopped out B/E on the other. This seems to be the pattern. I am not ready to say that my money mangement plan is even close to being optimal HOWEVER it is better than when I would sit back and watch a play go +5 in my favor only to turn around and stop me out without taking any profit.



Suggestions/Advice?: I am all ears on any input regarding a money management plan so feel free to comment. Thanks in advance.

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  #37 (permalink)
Jugador
USA
 
Posts: 162 since Jul 2009
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HJay View Post

Suggestions/Advice?: I am all ears on any input regarding a money management plan so feel free to comment. Thanks in advance.

Great Charts! Here's a link I posted in another thread. It's a short interview with Dr. Van Tharp. The interviews short, but has some good stuff in it about MM.

Dr. Tharp interview

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  #38 (permalink)
Jugador
USA
 
Posts: 162 since Jul 2009
Thanks Given: 67
Thanks Received: 51

A couple of setups on the 5 range reversal so far today.

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  #39 (permalink)
 
HJay's Avatar
 HJay 
USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus/Zen-Fire
Trading: futures
Posts: 147 since Aug 2009

This is what happens when you are restricted to just the last hour of the day. There are times when, like today the market doesn't move. There was action in the pre-market that I missed so really fortunate I guess to come out just as I entered after 2 trades with "no harm, no foul"


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  #40 (permalink)
 
Alinghy's Avatar
 Alinghy 
Monaco - Montecarlo
 
Experience: Intermediate
Platform: Ninja Trader 8
Broker: Dorman
Trading: ES 6E ZB YM
Posts: 333 since Sep 2009
Thanks Given: 260
Thanks Received: 59


Hi HJay,

I like the way you settled up your charting of instruments as 6E or YM, so

as I am a vip user, please could you confirm where exactly it is possible to

download the indicators you are actually using and what are the parameters

and settings with reference to the instrument involved ?

I mean also the prior day high and low etc ..

In other words could you be so pleased and list

all the components to reach the same image as

it is in your charts ?

Many thanks

regards

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Last Updated on November 11, 2009


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