Daytrading the EMINI's, manual method version 2

[bumblebee010169]

Hi all.

How has Bashir's method been holding up in recent low volume?

 

[bnaimy]

Hi all.

How has Bashir's method been holding up in recent low volume?

The manual method is doing well, as you get into the trades pretty early.

The automated methods are doing very weak, it looks like when volume is very low the results are really horrible. When volume return so does the good results.

Today the volume was not tottaly ****, and got 22.5 points on the NQ.But it was still not great as it was very choppy at times.

I assume that when volume return the results will reflect that as well.

Right now i am looking into buying a few years of data so i can test it back a few years and see what kind of results i get. And i just love the way Ninja trader gives you the chance to optimize the strategie, it will save me alot of time.

Volume or no volume i will be going live next week, i cant make my ends meet with sim money. So bettter get busy and start taking trades.

Regards
Bashir Naimy

 

[bumblebee010169]

Hi,

Great to know that the manual method gives an earlier entry, seeing as I plan to trade this way to begin with, just waiting for my Infinity account to go live.

i cant make my ends meet with sim money

LOL yeah, although I have some serious SIM trading to do before I'm going to let the market and my skills loose on my account!! The idea is in the end to make some real cash - otherwise I could just buy a few Monopoly games and have loads of 'paper' money!

all the best
Habib

 

[traviscotter]

Hey Bashir,
It seems like by the time I get the 9 min MACD on my side I have missed the move. Also, should I be exiting with the 2 min slow> It seems like when it flattens a change in direction starts?

The manual method is doing well, as you get into the trades pretty early.

The automated methods are doing very weak, it looks like when volume is very low the results are really horrible. When volume return so does the good results.

Today the volume was not tottaly ****, and got 22.5 points on the NQ.But it was still not great as it was very choppy at times.

I assume that when volume return the results will reflect that as well.

Right now i am looking into buying a few years of data so i can test it back a few years and see what kind of results i get. And i just love the way Ninja trader gives you the chance to optimize the strategie, it will save me alot of time.

Volume or no volume i will be going live next week, i cant make my ends meet with sim money. So bettter get busy and start taking trades.

Regards
Bashir Naimy

 

[bnaimy]

Hey Bashir,
It seems like by the time I get the 9 min MACD on my side I have missed the move. Also, should I be exiting with the 2 min slow> It seems like when it flattens a change in direction starts?

I would not worrie about the moves you miss, but concentrate on the moves you can get.

You will always miss moves, and there is nothing to do about that.
The move that happens when the 9min is changing direction is mostly disregarded when i trade it. As i know it cant catch trades like that, unless i use a tottaly different method that catches bottoms or tops.

What i do is the following , when i see that the 9min is on my side, i then start looking for trade in the direction of the 9min. If i see a place where price is oversold and 9min is going up, then thats a place you can enter.

Dont worrie about trades that just rally without you, the market can do whatever it wants to do, you can only react to it, and if you miss a good move, then dont let it bother you.


Instead look at the turnover as a good aportunety for finding nice spots where price is oversold in the short term but where the longterm price is going up.

It should not be your goal to see how you can catch those trades that you talk about, i have been there and tryed, ANd it only gave me a lighter pockets

YOu should make a million with 1 million trades, then making it with a just a few trades.
At least that the idea with the manual method, fast in and fast out.

Also remember that the 2min macd is just a indicator so that you are not tottaly wrong in the direction you are trading, you can sometimes predict the move on the 2min macd, if price have resistance at the upside and macd histogram weakesn, then you can almost expect it to cross down. But you should see some good histogram weaknes before assuming that.

Regards
Bashir Naimy

 

[bnaimy]

This is a good reccomendation to explore. In the past several months I have used a somewhat similar system but on a bit longer time frame and have used the 5,2,3 settings with good success, but only with confirmation from multiple time-frames. My main problem has been a horrible trade entry platform with optionsxpress. Once I move to the infinity DOM the improvement will be dramatic. Thanks Bashir for sharing your ideas and rules with us. Truth be told, it would be awfully hard if not impossible to trade the system on automatic if there were any areas kept proprietary or somewhat "black box" in nature. I fully understand your reasons for doing so and I don't blame you, but it would be tough for me to trade it. That's why I'm so grateful you started this thread to share your manual version with us. This way we can tweak it a little to make it our own and thereby keep it from crashing and burning because of too many people trading the same signal. Markets change and over time a system must be flexible enough to change too. An example would be the recent lack of volume in the markets. I am however going to follow your rules exactly to start out with.

Hi Mick, your thoughts are correct about the system and changing of market conditions.
But we where aware that volume would affectt the system, thats why i have been only being using on SIM for last 2 weeks of december and all of january so far, we have been waiting for volume to return. We quickly found that volume was a big issue with program. As when volume dried up, it became very sluggish and slow to react to movements. The problem with to many people trading is also taken into consideration, as i will not allow to many people trade a spesific market where volume does not allow to many people.

The settings of 5.3.2 the previouse poster mentioned are okey, but the only thing i can see with using the, is that you get more choppy movements on the charts and that it would be to be machine that could react fast enough to take benefit from it, its a marginal improvemnt but add more choop and adds more tense nerves to the trader trying to use it. So i would not recommend anyone using 5.3.2 as i dont see any benefits, only more choppy lines. But i do apprittiate the effort for sharing his thoughs and ideas. ANd thats the idea with this thread. There is also another thing, sierra's stochastic are quite differetn from other platfroms, i find them to be much more smoother, especially the fast line, the slow line are the same on most platforms but the fast line is sooo nice and smooth.I tryed the same with Ninja trader and the fast line is alot more choppyer.


Another thing i think traders should be aware of it what other traders are looking at, if you are trading a method you should never forget that there is someone else sitting there trying something else. This is very importent when it comes to support and resistance, always keep an eye out for that. Using support and resistance as targets is a good idea, and try not to take trades at tops or bottoms, as that is a high risk game.

But when marked is ranging after a big move, you can then use the tops and bottoms and play of that, and really make good money while market is going sideways.


Ithink ill post a method for that, how to trade when market is ranging, and use support and resistance as places to taketrades with tight stops. I will include Fibo numbers and market profile for this particual method.Lots of fun

Ill put together a method for it, should be done for the weekend.

Regards
Bashir naimy

 

[traviscotter]

Thanks so much. I think what you just explained is what seperates 80/20 statistic of day traders.

 

[bnaimy]

Here is a way you could have traded the market, i was actualy doing this today with good success, but only on sim :/

Will give it a go with live cash, just need some practive playing the fib numbers and i should be good.

have a look at the attachemnt

The fib numbers auto adjust with price btw. and the vva lines are volume value area lines, also knows as market profile.

Regards
Bashir Naimy

 

[fugly]

thanks bashir

 

[traviscotter]

I have a short set up with all my charts lining up except the slow sch. It is just over sold. In this case this would not be a good trade to get into?

 

[traviscotter]

Slow on the 2 min

 

[jimmynoodles]

Many thanks for your trading methods. I would like to try your method on the FTSE 100 index, however, I will only be opening one trade at a time. What would you suggest the stop limits and profit limits should be set at in this case? I was thinking maybe +20 and -20?

I would also be interested if anyone is currently using this method on the FTSE and with what degree of success. If so maybe we could start a new thread.

Once again many thanks for sharing your experience.:clap:

 

[forexsniper]

Manual trading method by Bashir Naimy

This method can be traded on any futures markets and even on the forex market....

Hi Bashir,

Just starting to follow this thread on the new manual method. As always - many thanks for sharing :clap:

Just confirming that this version now supersedes all the previous manual versions. Noticed its quite different from the previous manual versions. And what are the key reasons for the changes - is it improved on the previous versions, easier to trade, etc?

Just asking, so I can decide which manual version to focus on.

Many thanks.

 

[austin_bevo]

Ithink ill post a method for that, how to trade when market is ranging, and use support and resistance as places to taketrades with tight stops. I will include Fibo numbers and market profile for this particual method.Lots of fun

Ill put together a method for it, should be done for the weekend.

hi Bashir,

More weapons for us to shoot ourselves on foot
Seriously though, I can't wait to see the "rules" for the method.

Got a few questions for you hoping you can shed some light:

1. Does the "ranging method" contradict with the "medium term trending and buy on short term dip"?

2. If you have multiple manual trading systems, how would you decide when to use one system over the other? I know the answer is probably something like look at the market condition and use the one that works, but in reality it is pretty difficult. Any suggestion on that?

3. Looking at the attachment, what are the dashed wavy line on the main chart and the square wave at the bottom of the chart? Are they indicators you created?

4. How did you come up with the number such as 610 ticks, 89 ticks? Is it pretty much trial and error and see which one works the best for which market?


Jason

 

[bnaimy]

hi Bashir,

More weapons for us to shoot ourselves on foot
Seriously though, I can't wait to see the "rules" for the method.

Got a few questions for you hoping you can shed some light:

1. Does the "ranging method" contradict with the "medium term trending and buy on short term dip"?

2. If you have multiple manual trading systems, how would you decide when to use one system over the other? I know the answer is probably something like look at the market condition and use the one that works, but in reality it is pretty difficult. Any suggestion on that?

3. Looking at the attachment, what are the dashed wavy line on the main chart and the square wave at the bottom of the chart? Are they indicators you created?

4. How did you come up with the number such as 610 ticks, 89 ticks? Is it pretty much trial and error and see which one works the best for which market?


Jason

1:Not really, when market is trending you trade in that direction of that trend and of price is trending down ,you then short it when it does small retracment to the fib levels and you also comfirm with a tick chart that gets overbought.These entries give high gain and low risk trades. THe sideways ranging is more complicated and can hurt you if you are not carefull. But there we will use a longer term chart with stochastic and also use a tick chart with the same metod.

I will come with a more complete method about this this weeekend.

2:Well, it all depends on the system, in this week i have been testing a very capable scalper that seesm to get me around 14 points everyday 2 contracts and risking 3 points pr contract(might lower thes stop )

THis scalper only takes trades when the market is ranging, and my other system will take trades when market is rangning, at least thats what i hope it will.

Seems to me that, i might need to make the navig more sluggish and more slower, cause i see it get into alot of trades at the top or bottom and it gets hurt.

I will revert back to my old idea that i had with the navig and start it from there, ithink i have tweaked it so much that its only hurting it self.

But the scalper is so simple thats most people will laught at it, but it works, thats the funny part. The mechanincs are very easy, it trades in the direction of the main trrend and if price goes down it will then look for short at overbought areas and resistance.

The fib method works in a similer matter, simple supply and demand rules.

The dashy wavy lines are just custom entry signal's for my system that will say when that spesific chart is giving a ok signal for trade or not . My friend viggi is a fan of flashy stuff, does not really give info that is that importent.

The numbers 89 tick and 610 ticks are fibonachi numbers and are commenly used by many traders, the 89tick is used by alot of people, but the 610 fib numbers is not that many that use, at least thats what i think. But the reason i am using is that it makes sense to me, its mostly trial and error and looking at how the system acts when i backtest it.


Anyways, there will be alot of changes to the navig this weekend, its really pissing me of that its taking so many ****ty trades. I need to make it safer.


BUt what i really miss is some decent volume or a long period of time, so i can consistantly test it , im so far looking for some historic data , so i can test it for a long period of time.

Regards
Bashir N

 

[lacloudchaser]

Does anyone here use IB as a broker and would like to know if you've had any issues with them, from quality of datafeed, price, etc. I like their commissions for equities and as a single source broker for fut and eq. Thanks - pos or neg feedback please

Drew

 

[Bapovs]

Does anyone here use IB as a broker and would like to know if you've had any issues with them, from quality of datafeed, price, etc. I like their commissions for equities and as a single source broker for fut and eq. Thanks - pos or neg feedback please

Drew

Hi Drew,

I have had IB for a while but there tickdata is very bad and the data is slow (refreshrate is twice a second) I would consider zenfire or transact, they offer unfiltered data. I would recommend this only with trading futures not for stocks.
positive side IB:
-You can trade everything what you want around the world.(equities, futures,options,fx. etc)
-Low commisions
-fast execution

~Sebastian

 

[Jordao]

-You can trade everything what you want around the world.(equities, futures,options,fx. etc)

~Sebastian

Does it include Brazilian futures Sebastian??

 

[WillemDrees]

Does it include Brazilian futures Sebastian??

http://www.interactivebrokers.com/en/p.php?f=products&ib_entity=llc

 

[austin_bevo]

Bashir,

Thanks for the detailed reply.

The use of fib is very interesting. I used to think fib is rubbish Now I really ought to look into that for the sake of knowing what other people might be thinking.

On a separate issue, does Sierra Chart not have a good way to do backtesting? I spent sometime looking at the document titled "Definitions of Advanced Custom Study Interface Members" and various code samples over the weekend. There doesn't seem to have any way infrastructure to do backtest.

Do you also use Ninja trader with Infinity? If you do, do you have to pay extra for using SC and NT on the same account?


Jason