Here is the way i daytrade the Emini-YM

[bnaimy]

Thanks Bashir.

What time frames have you applied the Wilder's MA slow stochastic too? The 10min?

I have applyed it to all my charts, i dident see any reason to keep the old slow stochastics, it seems to be alot more reliable.

I have it on the 1min+3min+10min+30minchart.


WIth kind regards
bashir naimy

 

[bnaimy]

Bashir,

How did you hear from traders in the pit? Do you mean the S&P pit at the CME? Do you have friends over there or do you use a squawk box?

Yes i mean the S&P pit at the CME, but no friends there
I always have a live feed from bloomberg financial news on all the time, and they have talks with traders at the pit there and they will tell what they think and how volume is.

Its nice to know, it will make you aware that there will be chopp and that it wont take much to move price around.Ill never use squawkbox ever again, gives me a headack to hear that constant blabber, i know it can be very helpfull. i just find it annoying :cheesy:

With kind regards
Bashir Naimy

 

[santana55]

I have applyed it to all my charts, i dident see any reason to keep the old slow stochastics, it seems to be alot more reliable.

I have it on the 1min+3min+10min+30minchart.


WIth kind regards
bashir naimy

But you haven't applied it to the 5min or 89tick?

 

[bnaimy]

But you haven't applied it to the 5min or 89tick?

I have never used stochastics on the 5min or the 89tick chart, so no reason to add it to those charts at all as its not a part of the method.

With regards
Bashir Naimy

 

[santana55]

Yes i mean the S&P pit at the CME, but no friends there
I always have a live feed from bloomberg financial news on all the time, and they have talks with traders at the pit there and they will tell what they think and how volume is.

Its nice to know, it will make you aware that there will be chopp and that it wont take much to move price around.Ill never use squawkbox ever again, gives me a headack to hear that constant blabber, i know it can be very helpfull. i just find it annoying :cheesy:

With kind regards
Bashir Naimy

That's a nice feature from Bloomberg. I wish CNBC had that.

I used to work at the CME (from '96-'98) and when I stared I was a runner constantly scrambling over to the enormous S&P pit (or SPU as we called it) to deliver orders to the Refco brokers. I then moved upstairs to the Yen currency pit and worked with a broker and arbitrage clerk for a while. Finally I went over to the CBOT and started trading for myself at the (no longer existing) Mid America exchange (MidAm) where many of these mini contracts actually originated from. I used to pit trade Soy Beans there but never used technical indicators and mostly just scalping order flow with some use of point and figure charts.

It was quite exciting having access to the 2 largest futures exchanges in the world. It's really a sub culture down there. One annoying thing was that you almost lost your voice on a daily basis from all the screaming hence I know what you mean about the squawk box....

 

[santana55]

Hey smoodi, i am using sierracharts as u noticed, and i am using their level 4 package that cost 25usd pr month, the life feeed i get directly from my platform that is from infinityfutures, sierrachars have a function where u get the live feed from the infinity platform, so ur monthly expenses are just 25usd , and the platform is free.

U should check out their site, i am using their transact platform, i recommend you use that, good execution and fills. And they have good roundtrip prices, its 5usd pr roundtrip pr contract.

Sierra Chart - Financial Market Charting and Trading Software
Infinity Futures


Hope this helps,and thanks for the kind words smoodi

With regards
Bashir Naimy

Regarding Sierra Charts packages, you mentioned you are using level 4 but looking on their web site the level 4 package doesn't seem to support external service group B which you apparently need if you are using the Transact trading platform from Infinity. Are you sure your package is Level 4?

Also with Infinity Futures is the trading platform you are using the InfinityAT?

And do you know what their intraday margin requirements are for the emini SP and emini Dow?

 

[bnaimy]

Regarding Sierra Charts packages, you mentioned you are using level 4 but looking on their web site the level 4 package doesn't seem to support external service group B which you apparently need if you are using the Transact trading platform from Infinity. Are you sure your package is Level 4?

Also with Infinity Futures is the trading platform you are using the InfinityAT?

And do you know what their intraday margin requirements are for the emini SP and emini Dow?

They made those changed today, so now level 4 does not support transact that i am using, but lucky me. i got downgraded to the level that does support it. But i will just use level 3 now ,since i dont really anything else then level 3,and level 3 support everything i need,cheaper

Have attached a picture of this notification i got.

WIth regards
Bashir Naimy

 

[bnaimy]

Here are todays trades, not that good day, but if u followed the rules you should have done pretty good, even though today was low volume chopp.

Pictures are attached, i have not made any comments on those pictures , just pointed out where trades where taken.THose who are using this method should know by now why i took those trades.If you guys have any question then please let me know.

If you guys are wondering why my stochastics are looking different then yours thats because i am using whilder's moving average in my slow stoch, instead of the simple moving average.Gives me better results.


With kind regards
Bashir Naimy

 

[davidnorman]

My slow stochastics settings are as follow:

K line : 10
D line :3
Slow D line :3
Movin average type: simple moving average,

i am now using whilder's moving average, if u dont have that, then use the simplemoving average.

You dont have any signals for when to get out, you always use preset targets and i never trail to get most out of the trade.While in a trade and the 10min stoch goes agaist you ,then you just get.

If u trade 2, sell 1 at +10 and second at 30

If u sell 1 at +10 then move the stoploss to -6 behind your entry.

I cant reply better right now, i am busy trading, maybe later i will respost a better response.

You dide 6 trades and got 55 ticks, then you are takin profits way to early, when odoing 1 , try at least for 15 ticks at a minimum.

With kin regards
Bashir Naimy

Hi
Many thanks for your swift reply, it really is unbelievable to find some one kind enough to help out. I can not thank you enough, and i have seen this sentiment echoed many times on this forum...Thanks...I think i will start a Facebook site in your honour !!!

As a follow up to my first question:-

At the moment I am just going very small I find it is better than paper trading as it is real money on the table..I am betting on IG at the min for the FTSE which is £2 a point so i supose you could call this 1 contract if i bet at £4 this would be 2 contracts as i would be able to close 1 contract after +10 points and then trail the stop on the other one at -6 points.

Are you saying that if the 10min stoch is still with me on a trade i should still sell at +10 points and that if after +30 the 10min is still on side with me I should sell the second..

sorry to query this but i just want to be sure...

 

[spinalwiz]

Hi Bashir,

I would just like to echo what many people have said already - its fantastic of you to share this and I have really enjoyed reading through the thread. I think its great how you have made the strategy quite mechanical - taking out much of the discretion and indecision which can be a big problem for many traders (particularly novices).

If you any of you use NinjaTrader I can offer some help getting this strategy set up with it

And regarding the Wilder Moving Average - if you dont have the option for this, the next best option would be to use an EMA. Alternatively, if any of you are comfortable with coding then its fairly straightforward to code (please just let me know if you'd like me to send you the NinaTrader version of this indicator for use with a slow stochastic).

 

[WillemDrees]

Bashir, are there ways for us europeans to fund infinity account?
I noticed they only offer Wire or Check, but the bankaccount to wire to doens't have an IBAN number.

 

[WillemDrees]

Are you saying that if the 10min stoch is still with me on a trade i should still sell at +10 points and that if after +30 the 10min is still on side with me I should sell the second..

sorry to query this but i just want to be sure...

He's said that the +10 if fixed, it's part of the order you put in, sell at +10/+30.
Once you fill your order, no need to do anything.
If you followed the rules and got in at the proper price, the buy (or sell when bearish) is all you do, exit is automated. Or so it should be if you use a good tradertool.

It makes things easier on the mind when you can just fire-and-forget. If you know the charts say BUY, just buy and don't worry about the outcome. Let the order play out, have a coffee ;-).

Only thing is, Bashir says he doesn't use trailing-stop, so he probably does a manual stop change after the +10 is sold. I only papertrade still, but i use the trailing-stop to move up 14 (to -6) after +10. When price hits +20, stop is moved up 14 again to +8. So even if the +30 is never hit, if +20 is, the second contract is sold at +8.

 

[bnaimy]

Hi
Many thanks for your swift reply, it really is unbelievable to find some one kind enough to help out. I can not thank you enough, and i have seen this sentiment echoed many times on this forum...Thanks...I think i will start a Facebook site in your honour !!!

As a follow up to my first question:-

At the moment I am just going very small I find it is better than paper trading as it is real money on the table..I am betting on IG at the min for the FTSE which is £2 a point so i supose you could call this 1 contract if i bet at £4 this would be 2 contracts as i would be able to close 1 contract after +10 points and then trail the stop on the other one at -6 points.

Are you saying that if the 10min stoch is still with me on a trade i should still sell at +10 points and that if after +30 the 10min is still on side with me I should sell the second..

sorry to query this but i just want to be sure...

Thanks for those kind words m8.

Where you sell is up to you, but i highly recommend you sell half of your position at +10, reason is that you are then lowering your risk level to zero.If you want to take second hlaf of your position and sell at +30 thats just fine, but you can always try to sell it with higher profits.In my experience you always get +30.But getting +40 or +60 ticks takes alot more time and things can turn on you if you wait to long.Whenever in a trade and the 10min turns against you ,always go marked and flatten your postion.

But thats up to the trader, it can be really profitable sometimes, but somestimes you get +10 and then you get stopped out at -6.So your choice how you want to play that last position.

With regards
Bashir Naimy

 

[bnaimy]

He's said that the +10 if fixed, it's part of the order you put in, sell at +10/+30.
Once you fill your order, no need to do anything.
If you followed the rules and got in at the proper price, the buy (or sell when bearish) is all you do, exit is automated. Or so it should be if you use a good tradertool.

It makes things easier on the mind when you can just fire-and-forget. If you know the charts say BUY, just buy and don't worry about the outcome. Let the order play out, have a coffee ;-).

Only thing is, Bashir says he doesn't use trailing-stop, so he probably does a manual stop change after the +10 is sold. I only papertrade still, but i use the trailing-stop to move up 14 (to -6) after +10. When price hits +20, stop is moved up 14 again to +8. So even if the +30 is never hit, if +20 is, the second contract is sold at +8.

I am using something called autpbrackets in my plaatform, whenever the first target it hit, my platform automticly takes my stop and puts it at -6 behind entry
I love my platform.

Really smart of you to put stop at +8 after price hits +20, i think i will do the same thing,always a good idea to lock in some profits

With regards
Bashir naimy

 

[bnaimy]

Bashir, are there ways for us europeans to fund infinity account?
I noticed they only offer Wire or Check, but the bankaccount to wire to doens't have an IBAN number.

Yes it is possible, since i am also from europe
THey will send you that info when you open the account, but you
will only need to swiftcode, its alot easyer and faster using that.

I trasfered direcly from my account with no problems,and all electronicly.

With regards
Bashir Naimy

 

[bnaimy]

Hi Bashir,

I would just like to echo what many people have said already - its fantastic of you to share this and I have really enjoyed reading through the thread. I think its great how you have made the strategy quite mechanical - taking out much of the discretion and indecision which can be a big problem for many traders (particularly novices).

If you any of you use NinjaTrader I can offer some help getting this strategy set up with it

And regarding the Wilder Moving Average - if you dont have the option for this, the next best option would be to use an EMA. Alternatively, if any of you are comfortable with coding then its fairly straightforward to code (please just let me know if you'd like me to send you the NinaTrader version of this indicator for use with a slow stochastic).

Thanks for those kind workds, i appritiate that.
You are 100% rigth, for those who cant use whilder's moving average then they can use the exponentional moving average instead, it have a similer function and put more importence to the last few bars.

With kind regards
Bashir Naimy

 

[clicksta]

Bnaimy

Do you take trades when the 10min stoch is overbought or oversold, but still pushing in the desired direction or is this too risky?

 

[WillemDrees]

I am using something called autpbrackets in my plaatform, whenever the first target it hit, my platform automticly takes my stop and puts it at -6 behind entry
I love my platform.

Really smart of you to put stop at +8 after price hits +20, i think i will do the same thing,always a good idea to lock in some profits

With regards
Bashir naimy

This is just a function of the trailing-stop, i enter the price-change and stop-change in the bracket params. So it's automatic up +14 for every price up of 10 ticks. So i'm surpised your autobracket works on the first sell instead of the 10 ticks up.
But these automated bracket orders are fantastic and a very good reason for me to leave options and get into the e-minis.

 

[bnaimy]

Bnaimy

Do you take trades when the 10min stoch is overbought or oversold, but still pushing in the desired direction or is this too risky?

WHen its getting either oversold or overbought, i will be extra carefull and look for any indications of that the lines are getting closer, i would also like to see that there is some spacing betwen the lines and that its pointing faily in a clean direction.

If therer is little spacing and they are almost glued together and are pointing more sideways then down or up, i will stay out, in those cases it can turn on you pretty fast.

So i do still trade it when its either oversold or overbought, but i want the 10min stoch to be in a clear direction, not sideways or to to little spacing.

When there is little spacing betwen the lines, that means there is little momentum and price is not really going anywhere.

With regards
Bashir Naimy

 

[bnaimy]

This is just a function of the trailing-stop, i enter the price-change and stop-change in the bracket params. So it's automatic up +14 for every price up of 10 ticks. So i'm surpised your autobracket works on the first sell instead of the 10 ticks up.
But these automated bracket orders are fantastic and a very good reason for me to leave options and get into the e-minis.

Ahh i get you now, its called auto trailing, i do have that funktion, never used it though.
Gonna give it a try today and see how that works.


With regards
Bashir Naimy