Here is the way i daytrade the Emini-YM

[vit007]

Hellow .Do you completely disregard overbought oversold slow stoch on 1min.chart.
Ithink you have better probabilities if you trade with 1min slow st.. Like on Monday I have 7 trades when I waited for . slow st on 1 min chart to become overbought and than I short. It did work 6 out of 7 times.
Just thinking in probabilities.
Happy trading.
Vit.
PS. Ithink I have to make up lust line like you do..
Best things in life are for free.

 

[bnaimy]

When VIX is above 60 don't you generally use 20 tick stops? And when VIX above 65 you use 30 tick stops? Or you are saying it's best not to trade with this method when VIX is over 60?

When vix is 60 OR below i do 20 and above 65 i do 30,but its not a line in the sand where i decide that, if vix shoots to 70 you can still use the method, but u have to compansate for the stops and targets and i personaly dont fell good with stops above 30, its all metall forme there, thats something a trader needs to do on a daily basis and i thats not something i can writte down as a rule.I try not to trade when vix i is above 70.its something traders need to figure out and what they feel comfy with.The vix is not a part of my method, i just something i wrote so that traders are aware of the implications of a high vix.


The vix itself will give you a headsup on how high or low stops will be, the method works just fine vix above 60, you just need to compansate for the stops and have higher targets. But combine a high vix with a day where big investors are not present and only a few traders in the exhange, thats something else.And most likely any moves made in a day like today will not have any affect. Cause it low volume and dont really tell you where investors are buying or selling, its just local to local trading in the exchange.

I made a decision not to trade today , of these two reasons , vix was high but not high enought to scare me, but combined with low volume local to local trading and holiday just is a recepi for failed trades.

From what ican see, there where just 2 trades what would have worked out today, and alot that would have not.And price was below that 900 level on the ES, and that also created alot of trouble.

Hopefully alot of traders stayed out from trading today, and i those in the exhange dide for sure

WIth kind regards
Bashir Naimy

 

[bnaimy]

Hey Bashir,

Thanks for the tip. Silly question but where exactly do i get my hands on the volitiliy index? Where/how do you check it?

Keep up the good work

Cheers
JWG

Here is the vix chart.

http://finance.yahoo.com/q/bc?s=^VIX&t=1y


With regards
Bashir Naimy

 

[santana55]

When vix is 60 OR below i do 20 and above 65 i do 30,but its not a line in the sand where i decide that, if vix shoots to 70 you can still use the method, but u have to compansate for the stops and targets and i personaly dont fell good with stops above 30, its all metall forme there, thats something a trader needs to do on a daily basis and i thats not something i can writte down as a rule.I try not to trade when vix i is above 70.its something traders need to figure out and what they feel comfy with.The vix is not a part of my method, i just something i wrote so that traders are aware of the implications of a high vix.


The vix itself will give you a headsup on how high or low stops will be, the method works just fine vix above 60, you just need to compansate for the stops and have higher targets. But combine a high vix with a day where big investors are not present and only a few traders in the exhange, thats something else.And most likely any moves made in a day like today will not have any affect. Cause it low volume and dont really tell you where investors are buying or selling, its just local to local trading in the exchange.

I made a decision not to trade today , of these two reasons , vix was high but not high enought to scare me, but combined with low volume local to local trading and holiday just is a recepi for failed trades.

From what ican see, there where just 2 trades what would have worked out today, and alot that would have not.And price was below that 900 level on the ES, and that also created alot of trouble.

Hopefully alot of traders stayed out from trading today, and i those in the exhange dide for sure

WIth kind regards
Bashir Naimy

Understood Bashir. That's a good rule of thumb. Although I didn't realize professional and institutional traders would be off on Veteran's Day because the stock market was still open.

I tried paper trading the system today and it was very challenging, If you didn't move extremely quickly you got into trouble. And even with 30 tick stops there were many occasions to get stopped out. Lesson learned.

 

[bnaimy]

When my first target is hit at +10 would se myt stoploss at 8806.
Hellow .Do you completely disregard overbought oversold slow stoch on 1min.chart.
Ithink you have better probabilities if you trade with 1min slow st.. Like on Monday I have 7 trades when I waited for . slow st on 1 min chart to become overbought and than I short. It did work 6 out of 7 times.
Just thinking in probabilities.
Happy trading.
Vit.
PS. Ithink I have to make up lust line like you do..
Best things in life are for free.

I am sure that might work well for you VIT, i dont completely disregard that 1min slow stochastsic, i do use it to finetune my entrys long or short, so im doing exacly what you are doing. But i dont always wait for the 1min stoch to cross over, if everything else is in the green, i will only give mister 1min stoch alittle time to go higher, and then just take the trade, i will not wait for the cross of the lines, by the time u get the cross u will have given away a sizable ticks, and also in the prosses given your self stops that are not that good.I only do the things i know from my own personly experience, and what i know works for me. I fell when i go in i have a better chance of not getting stopped out and getting my targets faster, then wait for 1min stoch, cause buy the time u get in i allready have my 10ticks, and my risk is now zero.Even if it was a failed traded, most of the time price does bounce back down 10ticks and will fill you, and if it goes higher and stop you out, i could not careless


But your thinking is correct, its not that different from my own, but every trader trade differently.

Just out of curiosity, how did you trade today ?
And if so how dide you do ?

I dide not really understand this last of of yours:

quoteS. Ithink I have to make up lust line like you do.

With kind regards
Bashir Naimy

 

[bnaimy]

Understood Bashir. That's a good rule of thumb. Although I didn't realize professional and institutional traders would be off on Veteran's Day because the stock market was still open.

I tried paper trading the system today and it was very challenging, If you didn't move extremely quickly you got into trouble. And even with 30 tick stops there were many occasions to get stopped out. Lesson learned.

I was listening to the bloomberg news channel and they have a show called opening bell, and their reporter at the exhange and a trader told the viewer that most big players dide take the day of, and for good reason.

Today was really challengin, i was glad i was not in it, would have beena lossing day for me

With kinda regards
Bashir Naimy

 

[bnaimy]

It's WWI (Fisrt WW, 1914-1918) remembrance. BBC

Had the charts up for two hours tonight. It takes a lot of patience to wait for the 30min to get over the EMA, but when it does, it is good to see you have al the indicators behind you. A nice 200 points in 1 trade, alas, only on paper. but indeed insanely choppy.

Wow a 200 point trade,now thats something

My best trade ever was a 300 tick move, when the first resque bill was rejected.
Was just pure luck, i had a sellstop and my auto targets where not crossed, so i was just filled and before i knew what was going on i was up 300 lol What a crazy day that was

But havent had any 100+ tick trades,not for a long time, and how things are looking these days im glad with my +10 +30. Its chopper heaven.

You have a wonderfull day

With regards
Bashir Naimy

 

[bnaimy]

Nice system, might try to automate it (if you don't mind) to compliment the other strats I have, kinda interested to see to what extent different systems give (roughly) the same trades.

Limewire AND mu torrent? Seems a bit greedy...sure it's all for legal downloads though

Go for it, would be interesting to see how you do when you automat it, i was planning to do something similer, but im to lazy toget around and learn sierracharts auto trading.

Please do share your findings with the rest of use when you do get it automated.

With regards
Bashir Naimy

 

[santana55]

Go for it, would be interesting to see how you do when you automat it, i was planning to do something similer, but im to lazy toget around and learn sierracharts auto trading.

Please do share your findings with the rest of use when you do get it automated.

With regards
Bashir Naimy

When you use 30 stick stops as opposed to 20 tick stops how do you adjust your targets and trailing stops?

For 20 tick stops:
1st target is +10
Stop adjustment is -6 behind entry
2nd target is +30

For 30 tick stops:
1st target is +?
Stop adjustment is -? behind entry
2nd target is +?

 

[bnaimy]

When you use 30 stick stops as opposed to 20 tick stops how do you adjust your targets and trailing stops?

For 20 tick stops:
1st target is +10
Stop adjustment is -6 behind entry
2nd target is +30

For 30 tick stops:
1st target is +?
Stop adjustment is -? behind entry
2nd target is +?

For 3otick stops i use:
1st target is -> 15
Stop adjusted down to -12 behind entry.
2nd target is -> 45


With regards
Bashir Naimy

 

[vit007]

I am sure that might work well for you VIT, i dont completely disregard that 1min slow stochastsic, i do use it to finetune my entrys long or short, so im doing exacly what you are doing. But i dont always wait for the 1min stoch to cross over, if everything else is in the green, i will only give mister 1min stoch alittle time to go higher, and then just take the trade, i will not wait for the cross of the lines, by the time u get the cross u will have given away a sizable ticks, and also in the prosses given your self stops that are not that good.I only do the things i know from my own personly experience, and what i know works for me. I fell when i go in i have a better chance of not getting stopped out and getting my targets faster, then wait for 1min stoch, cause buy the time u get in i allready have my 10ticks, and my risk is now zero.Even if it was a failed traded, most of the time price does bounce back down 10ticks and will fill you, and if it goes higher and stop you out, i could not careless


But your thinking is correct, its not that different from my own, but every trader trade differently.

Just out of curiosity, how did you trade today ?
And if so how dide you do ?

I dide not really understand this last of of yours:

quoteS. Ithink I have to make up lust line like you do.

With kind regards
Bashir Naimy

Hi BNaimy .Your lust line. There is only one freedom of any importance, freedom of the mind..SO I thought I need to come with my own.
When I was talking about slow st I did not mean to wait till they cross but just to wait for it to get to overbought area on 1 min. ch. And switch to 144 tk.ch . to tune your short trade.
I do trade mostly options credit spreads its allow me to work full time and just monitor market from time to time..But now Im more interested in futures trading because one have more control over trading.
On Monday I tried to trade while working and I did very well but I was completely dead after . and have no satisfaction at doing it. So today I did not trade at all . I’m planning to change my job to part-time so I can start trading.
Happy trading
Vit.
Best things in life are for free

 

[_JWG_]

Here is the vix chart.

http://finance.yahoo.com/q/bc?s=^VIX&t=1y


With regards
Bashir Naimy

Legend! :smart:

JWG

 

[WillemDrees]

Wow a 200 point trade,now thats something

My best trade ever was a 300 tick move, when the first resque bill was rejected.
Was just pure luck, i had a sellstop and my auto targets where not crossed, so i was just filled and before i knew what was going on i was up 300 lol What a crazy day that was

But havent had any 100+ tick trades,not for a long time, and how things are looking these days im glad with my +10 +30. Its chopper heaven.

You have a wonderfull day

With regards
Bashir Naimy

I cheated and jumped the gun on the breakout :innocent:

But what i like very much is that it gives you confidence if you stay with your rules and see that the indicators all point in the same direction.

Then again it's the first serious strategy is use. Before only using fibs on indexoption trading. Very hard to do.
So i guess i'm at Step 18 of the 38-step program :cheesy:

 

[laserwolf]

nimble fingers

For 3otick stops i use:
1st target is -> 15
Stop adjusted down to -12 behind entry.
2nd target is -> 45


With regards
Bashir Naimy

Is there an automated way to enter all these orders, or do you guys enter each one manually? ie:
1. book the trade
2. book the stop
3. book the first exit
4. book the second exit
5. adjust the stop

it seems in the heat of the moment my fingers freeze and i mess up the basic mechanics of setting up the trades.

 

[WillemDrees]

Is there an automated way to enter all these orders, or do you guys enter each one manually? ie:
1. book the trade
2. book the stop
3. book the first exit
4. book the second exit
5. adjust the stop

it seems in the heat of the moment my fingers freeze and i mess up the basic mechanics of setting up the trades.

If you can use a trailing-stop order to go with your initial order u can.
I use strategyrunner, (with globalfutures as broker), and i can just edit the exit strategy before going into the market.
So al 5 steps are indeed entered when i go long/short. Stop is adjusted to whatever params i entered beforehand. If you want, in the tradingtool, it's possible to move the stop with the mouse after the orders are filled.

Here's a view of strategyrunner tradewindow running:
The green bar is price bought, the yellow is the stop which you'll see move up at some point. (edit: it had already moved before i started the video, sorry)


strategyrunner_1.flv - Video - Photobucket - Video and Image Hosting

 

[clicksta]

I traded yesterday. Was a couple of trades on the short side after the open then it chopped in a tight range up to after lunch when it rallied. Was a breakout on the longside but was just straight up. I switched from 1min chart to 89 tick and the retracements to the 15ma worked perfect. Got some good points there.

I too like to see all the stochs on my side, but I wait for 1min stoch to push up too when it retraces to ema's. When the 10min got overbought then I was finished.

Good question laserwolf. I do it all straight away(enter orders)

 

[WillemDrees]

I traded yesterday. Was a couple of trades on the short side after the open then it chopped in a tight range up to after lunch when it rallied. Was a breakout on the longside but was just straight up. I switched from 1min chart to 89 tick and the retracements to the 15ma worked perfect. Got some good points there.

I too like to see all the stochs on my side, but I wait for 1min stoch to push up too when it retraces to ema's. When the 10min got overbought then I was finished.

Good question laserwolf. I do it all straight away(enter orders)

Pics? Would be interesting to see how others work Bashir's strategy.

 

[dchoi224]

bashir, have you compared your original trading plan to your latest revised plan? i tend to think the older plan trades better and is safer. what do you think?

 

[bnaimy]

Is there an automated way to enter all these orders, or do you guys enter each one manually? ie:
1. book the trade
2. book the stop
3. book the first exit
4. book the second exit
5. adjust the stop

it seems in the heat of the moment my fingers freeze and i mess up the basic mechanics of setting up the trades.

Hi, i usualy just have my platform allready have my targets set and my stops,so when i enter a trade, it automaticly puts in the targets that i have predefined and my predefined stop.

Doing it manually is prettty stressfull, i recommend you get a platform to that support these funktions, what platform are you using ?

With regards
Bashir Naimy

 

[laserwolf]

Hi, i usualy just have my platform allready have my targets set and my stops,so when i enter a trade, it automaticly puts in the targets that i have predefined and my predefined stop.

Doing it manually is prettty stressfull, i recommend you get a platform to that support these funktions, what platform are you using ?

With regards
Bashir Naimy

I'm trying to replicate your setup.

For charts, i'm using Sierra; for trading I've got InfinityAT. But have been doing my trades direct on Sierra for now. (all are test accounts)

I guess I need to look into the Infinity AT docs to see how to automate these steps. It'd be great to set everything up to Fire And Forget, which seems to be what you've done.