Daytrading the EMINI's, manual method version 2

[bnaimy]

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

Hi Jason, the backtesting with SC is rubbish, the higher the replay speed the worse it gets.So its useless in my honest opinion.

THe Ninja Trader platforms is something you can get from infinity, not sure if you have to pay or not, i belive its free for their clients.

Regards
Bashir N

 

[lacloudchaser]

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.

Jason

The single greatest truth it seems in a free market is that the participants (traders) create their own reality. If fib numbers have any basis in reality (and in natural sciences they do of course) it will in the mkt...simply because enough market participants believe it, plot it and act on it, and their software platforms support it with semi-automated drawing tools - the final confirmation you can count on I think ! Like plotting your two day lines of supprt and resistance (as in the near perfect Dow reversal off its 2 day support on friday), - millions of folks unknowingly working together to creat an orderly outcome out of the kaos of the free mkt.

Sorry for the ramble, mkts closed. Thanks again Bashir,


Drew

 

[bumblebee010169]

philosophy and the market is fascinating. Of course you are correct, we make it what it is and we follow what we make. Chaos is highly subjective and usually depends of perspective/scale.

right - enough of this airy-fairy, lets go make some money!!

 

[bnaimy]

Will be taking live trades tomorow in the room using the new fib scalper, the original scalper will be in your emails before market opens.

Regards
Bashir N

 

[amar_gr]

Need yr Inputs

Hi Bashir,
Many thanks for posting the manual system.
I am trying to paper trade your system in the Indian Mkts on Gold futures, for this I need your inputs to understand the suggested settings for Stoch & MACD.
The settings available in my charting package for both the indicators are as follows;

Stochastics, has four settings (the package does not have a Slow Stochactics Oscillator)
1. Avg type 2. Avg Period 3. %K Period 4. %K Slow
for MACD, the following six options are available
1. Avg type 2. Avg Period 3.Short type 4. Short Period 5. Long type 6. Long Period.
All above six settings are also available for a MACD Histogram

You have suggested Macd = 12.26.3 & Slow stochastic = 10.3.2, I am not clear how to read these values and which value needs to go where.

Can you let me know how best to use your suggested values with my charting package.
Thanks & Regards

 

[traviscotter]

Is there just some days where the strategy does not work???? I have had a few days where things set up and then I enter and and it rips the other way. I know its not the crystal ball to trading but is there a way to know that I should just sit on the sidelines for the day?

 

[austin_bevo]

Is there just some days where the strategy does not work???? I have had a few days where things set up and then I enter and and it rips the other way. I know its not the crystal ball to trading but is there a way to know that I should just sit on the sidelines for the day?

I will take a stab at answering the question. There is no method that will make money everyday. So you equip yourself with different tools and use the one you see fit. Even if you have enough knowledge, you just have to know that losing is a natural outcome of trading.

I might be wrong, but I recall that there were some mentioning that the method tends to buy at the top or sell at the bottom if the market is not trending. Please correct me if I am wrong.

Jason

 

[traviscotter]

Thanks Jay, any info is great. Thank you for the input!

I will take a stab at answering the question. There is no method that will make money everyday. So you equip yourself with different tools and use the one you see fit. Even if you have enough knowledge, you just have to know that losing is a natural outcome of trading.

I might be wrong, but I recall that there were some mentioning that the method tends to buy at the top or sell at the bottom if the market is not trending. Please correct me if I am wrong.

Jason

 

[bnaimy]

Hi Bashir,
Many thanks for posting the manual system.
I am trying to paper trade your system in the Indian Mkts on Gold futures, for this I need your inputs to understand the suggested settings for Stoch & MACD.
The settings available in my charting package for both the indicators are as follows;

Stochastics, has four settings (the package does not have a Slow Stochactics Oscillator)
1. Avg type 2. Avg Period 3. %K Period 4. %K Slow
for MACD, the following six options are available
1. Avg type 2. Avg Period 3.Short type 4. Short Period 5. Long type 6. Long Period.
All above six settings are also available for a MACD Histogram

You have suggested Macd = 12.26.3 & Slow stochastic = 10.3.2, I am not clear how to read these values and which value needs to go where.

Can you let me know how best to use your suggested values with my charting package.
Thanks & Regards

Hi, as i dont know what kind of charting software you have i cant give you any good suggestion. But i have added to screenshots of my settings that i use, that should give you a clear view of what to use where.

Wish i could help more, but i have no info about your charting software, so not much to work with !

And dont worrie about the histogram settings, as we are not using histogram.

Regards
Bashir N

 

[bnaimy]

Is there just some days where the strategy does not work???? I have had a few days where things set up and then I enter and and it rips the other way. I know its not the crystal ball to trading but is there a way to know that I should just sit on the sidelines for the day?

We are aware of the trades that work that way, and thats why we are adding a few changes to the NAVIG and hopefully it will lower that types of trades.But we will never be able to remove them completly, as we cant predict every move , i wish we could

But, we will use VVA lines and create some sort of distance rules so that when market is not far from a big support or resistance it will stay away. We also have a few other ideas as well, but they needs to be tested out.

How wrong i was about making an easy autotrader
Its really a pain in the ass, but we are slowly getting there, at least the scalper is looking very promising


Regards
Bashir N

 

[bnaimy]

I will take a stab at answering the question. There is no method that will make money everyday. So you equip yourself with different tools and use the one you see fit. Even if you have enough knowledge, you just have to know that losing is a natural outcome of trading.

I might be wrong, but I recall that there were some mentioning that the method tends to buy at the top or sell at the bottom if the market is not trending. Please correct me if I am wrong.

Jason

The problem with the NAVIG is that when market makes attempts at breaking out from a strong sideways market, or tryes to change direction, NAVIG will catch it and sometimes it will be a bottom or top, and get nailed. And another problem seems to be that we are giving away to much profit, so we are working on getting fixed targets for it.

We have many ideas to solve this, but we will not know until we test it, we are counting on getting a final and last version ready before next months trading.

The scalper will be ready for next weeks trading, and the second scalper will be out at the same times as the NAVIG, at 1 february.

With kind regards
Bashir N

 

[traviscotter]

I am trading manually. I am using the 9 min, 2 min, and 89 tick charts.

 

[traviscotter]

I am trading SPY and there are no stops. Should I cover my positions the same way that you have your stops set up?

 

[eVegas]

I have been using the newest manual trader and it is excellent. Any updates on the manual trader Bashir?
Thank you again for all of your hard work and time.

Salut!

 

[traviscotter]

I have been anticipating the MACD on the 9 min. It is touching but not crossed and a separation can not be seen. Learned a big lesson, do no anticipate, follow the rules. The strategy works great when rules are followed 100%. Thanks Bashir.

 

[bumblebee010169]

I am trading SPY and there are no stops. Should I cover my positions the same way that you have your stops set up?

There is a thread on here re: a poor guy who blew his 10K account because he started a trade and didn't have a stop. I would not trade without it, but I guess what you're saying is that you can sit there and manually flatten if your stop value is reached?

 

[bumblebee010169]

I have been anticipating the MACD on the 9 min. It is touching but not crossed and a separation can not be seen. Learned a big lesson, do no anticipate, follow the rules. The strategy works great when rules are followed 100%. Thanks Bashir.

I did exactly the same (paper trading), thinking - 'ahh I can see it's going to cross' NOPE IT ISN'T!! Paper trading is great - but I'm gonna have to shape up if my account is going to last or grow!

 

[bnaimy]

I have been using the newest manual trader and it is excellent. Any updates on the manual trader Bashir?
Thank you again for all of your hard work and time.

Salut!

No new updates on the manual method, your welcome

With kind regards
Bashir Naimy

 

[bnaimy]

There is a thread on here re: a poor guy who blew his 10K account because he started a trade and didn't have a stop. I would not trade without it, but I guess what you're saying is that you can sit there and manually flatten if your stop value is reached?

Having a hard stop is always importent, just having a stop in your mind is very hard, as that person will have a hard time accepting the losses and get out.

Regards
Bashir N

 

[traviscotter]

SPYDER does not have an option to insert a stop so once I get to or fall below my +1 mark I should be out. If the trade starts to come back in my favor should I get back in or just wait for another setup? I feel like I am chasing it at that point.
Thanks everyone for there replies. The more the better.

Having a hard stop is always importent, just having a stop in your mind is very hard, as that person will have a hard time accepting the losses and get out.

Regards
Bashir N