Here is the way i daytrade the Emini-YM

[bnaimy]

Did anyone take the big move up on the YM or ES today?

i dide a few trades before lunch, but then the volatility was just to much for me, and i just took the rest of the day of.But if anyone dide trade it , they could have made a killing.

With regards
Bashir naimy

 

[santana55]

I am right not just scaling, i am using the 89tick chart, and its giving me 10-15 ticks pretty fast and im sticking to this until i see a change in marked .

So not waiting for pullback, im jumping right into it when it breaks an usethe 89tic to get into the trade.


Wth regards
Bashir Naimy

Bashir,

As you mention above it seemed like today every time the market was in a retracement while up trending, on the 1min chart the price either dipped about 30ticks below the 15EMA before climbing or it never quite touched the 15EMA and proceeded to climb. So you were using the 89tick chart to go long when the price broke the 89EMA?

I noticed when price dipped below the 1min chart's 15EMA it went way below the 89tick chart's 89EMA and when price didn't quite retrace to the 1min chart's 15EMA it was already quite below the 89tick chart's 15EMA.

 

[bnaimy]

Bashir,

As you mention above it seemed like today every time the market was in a retracement while up trending, on the 1min chart the price either dipped about 30ticks below the 15EMA before climbing or it never quite touched the 15EMA and proceeded to climb. So you were using the 89tick chart to go long when the price broke the 89EMA?

I noticed when price dipped below the 1min chart's 15EMA it went way below the 89tick chart's 89EMA and when price didn't quite retrace to the 1min chart's 15EMA it was already quite below the 89tick chart's 15EMA.

Today was not a good day for retracment, marked just basicly chopped backl and forth.
What i dide was as following:

1:i waited for price to breakthe last resistance on the upside,and then wait 1min for price to go alittle above, if it dident do that and price goes back under the last resistance then i will not toutch it.But when it dide and break and got some distance,but not to much distance, i started to look atthe 89tick charts 15expon ma and whent long when it got a few ticks away from it or hit it. And dide a quick +15 scalp.Dide this a couple of time, and buy the time if was about to do a pullback i was allready out with 2 scalps at +15 each.The problem today was that, 3min stoch was down by the time the pullback happend, and another problem was the 30min stoch, it was just zigzagin alot and very quicly and that created some of that problem, if we had a 30min that was firmly up or down then we could have had good pullbacks that ident break true all support again.

But around 2 hours before marked closed things where better for pullbacks, but by that time the freaking VIX was at 69 and that was to much and volatility was very high,and that forced me to stop trading.

But we just have to take whatever the marked gives use, today was a few scalps but managed to get a decent profit of 60 ticks, my goal is at least 100 ticks a day, but cant complain, dident loose money, thats a comfort.

With kind regards
Bashir Naimy

 

[santana55]

Today was not a good day for retracment, marked just basicly chopped backl and forth.
What i dide was as following:

1:i waited for price to breakthe last resistance on the upside,and then wait 1min for price to go alittle above, if it dident do that and price goes back under the last resistance then i will not toutch it.But when it dide and break and got some distance,but not to much distance, i started to look atthe 89tick charts 15expon ma and whent long when it got a few ticks away from it or hit it. And dide a quick +15 scalp.Dide this a couple of time, and buy the time if was about to do a pullback i was allready out with 2 scalps at +15 each.The problem today was that, 3min stoch was down by the time the pullback happend, and another problem was the 30min stoch, it was just zigzagin alot and very quicly and that created some of that problem, if we had a 30min that was firmly up or down then we could have had good pullbacks that ident break true all support again.

But around 2 hours before marked closed things where better for pullbacks, but by that time the freaking VIX was at 69 and that was to much and volatility was very high,and that forced me to stop trading.

But we just have to take whatever the marked gives use, today was a few scalps but managed to get a decent profit of 60 ticks, my goal is at least 100 ticks a day, but cant complain, dident loose money, thats a comfort.

With kind regards
Bashir Naimy

60 ticks pretty nice for a choppy day. Trading old fashioned support and resistance levels the breakout at the end of the day could have been a jackpot trade.

Does your system work better when the market isn't trending in on direction so aggressively?

 

[bnaimy]

60 ticks pretty nice for a choppy day. Trading old fashioned support and resistance levels the breakout at the end of the day could have been a jackpot trade.

Does your system work better when the market isn't trending in on direction so aggressively?

The best marked conditions for this methos is when marked is going in waves up and down.In heavely trending days the system works to,but you will not get those typical pullbacks as we are used to.

When marked is trending heavly, the same rules apply,but seeing the 3min being oversold or overbought is really hard to swallow and go long when you know the the either 10min or 3min or both are been oversold of overbought for a long time, cause what if u get into it, and it pushed against you at that point, its more a emotional play when its like that, method will work but will make your heart race and u will most likely get out of the trade because of fear of the stoch going up again, what you can do is jsut wait for either 3 or 1min stoch to get overbouht in a downtreding marked and then enter short, that way u will have that little safety nett.

Today the marked was not agressive trending early in the day, the last 1 hour and 30 was trending heavly up, that is what i look as trending.Before lunch, it was possible to get into trades and take some good scalps, Even when it was trending after lunch, after that bounce from the 8000 level, there where a few good trades that would have given good returns , the stops where high , that keept me out, and before lunch pullbacks dident work that well, so that also put fear in me, of taking those pullbacks, i was just watching the marked but not tradin it.

With regards
Bashir Naimy

 

[santana55]

The best marked conditions for this methos is when marked is going in waves up and down.In heavely trending days the system works to,but you will not get those typical pullbacks as we are used to.

When marked is trending heavly, the same rules apply,but seeing the 3min being oversold or overbought is really hard to swallow and go long when you know the the either 10min or 3min or both are been oversold of overbought for a long time, cause what if u get into it, and it pushed against you at that point, its more a emotional play when its like that, method will work but will make your heart race and u will most likely get out of the trade because of fear of the stoch going up again, what you can do is jsut wait for either 3 or 1min stoch to get overbouht in a downtreding marked and then enter short, that way u will have that little safety nett.

Today the marked was not agressive trending early in the day, the last 1 hour and 30 was trending heavly up, that is what i look as trending.Before lunch, it was possible to get into trades and take some good scalps, Even when it was trending after lunch, after that bounce from the 8000 level, there where a few good trades that would have given good returns , the stops where high , that keept me out, and before lunch pullbacks dident work that well, so that also put fear in me, of taking those pullbacks, i was just watching the marked but not tradin it.

With regards
Bashir Naimy

Not sure I understand what you mean here:

"what you can do is jsut wait for either 3 or 1min stoch to get overbouht in a downtreding marked and then enter short, that way u will have that little safety nett."

Say the market is in an uptrend and you are getting worried because the 3min and 10min stochastics have been at the overbought level for a while and you fear they might turn down once you go long. You are saying to wait for either the 3min or 1min to get oversold and then enter long? In an uptrend wouldn't the 3min and 1min be floating above the 70 line and not ever give you an oversold reading?

 

[bnaimy]

Not sure I understand what you mean here:

"what you can do is jsut wait for either 3 or 1min stoch to get overbouht in a downtreding marked and then enter short, that way u will have that little safety nett."

Say the market is in an uptrend and you are getting worried because the 3min and 10min stochastics have been at the overbought level for a while and you fear they might turn down once you go long. You are saying to wait for either the 3min or 1min to get oversold and then enter long? In an uptrend wouldn't the 3min and 1min be floating above the 70 line and not ever give you an oversold reading?

In a upward trend the 1min dont need to float around 70 just to be in a uptrend, just look at the last 2 hours rally we had,there where many places where you could entre long, if u used the 1min to ur advantage, it dont mean the 1min will come down very often, but when it does, thats ur windows or entry.And if it does not, then bad luck.

Please have a look at the pics that are attached, its 1 pic of a 1minchart where you could have had severel entry's and 3min chart with the same.

Price does not have to go below the 20 line, for you to look at that as a point of entry, it going halfway to the range is good enough.You need to be flexible when trading, and your rules should be allittle flexible, otherwise we could just program it and let a machine a machine trade, but the advantage with being a human is that you are flexible and can make a full picture of the marked and how its acting.

When you have traded technicly for a longtime,u will be able to see paterns and almost forsee what the marked will do next, you basicly understand how the marked behaves,its just like a living and breathing being.

But now i am taking this to another discucion, anyways, have a look at the pics and im sure those will explain it better, they say a picture alot more 😀


With regards
Bashir Naimy

 

[Chorlton]

Hi Bashir,

Firstly, great thread !!!

You''ve mentioned in previous posts that your rules generate on average 3-4 trades per day. Given the v.low frequency, is there a particular time during the session that you watch the S&P or are you sat watching it all day waiting for these few set-ups?

I ask for 2 reasons. Firstly, if you are watching the screen all day then it must take a lot of dedication & willpower to only enter on a suitable set-up, and secondly, as I live in Australia I would be interested in trying to monitor your rules in real-time but obviously the time difference could be an issue...

Kind Regards,

Chorlton

 

[bnaimy]

Hi Bashir,

Firstly, great thread !!!

You''ve mentioned in previous posts that your rules generate on average 3-4 trades per day. Given the v.low frequency, is there a particular time during the session that you watch the S&P or are you sat watching it all day waiting for these few set-ups?

I ask for 2 reasons. Firstly, if you are watching the screen all day then it must take a lot of dedication & willpower to only enter on a suitable set-up, and secondly, as I live in Australia I would be interested in trying to monitor your rules in real-time but obviously the time difference could be an issue...

Kind Regards,

Chorlton

Hi Chorlton, good to hear from you.
Well the 3-4 trades for day was for my older method that i posted first, i dont know if you have read true all the posts ,but i have posted a tottaly of 3 methods, the last method is my final one and i have posted a video with rules and exacmples and stuff likethat.

This last method will give around 4-8 trades, depending on the day,so there are alot more trades to be had.And there are also ways of scalping a move while waiting for the main trade, witch is a pullback trade.

I trade from 09:30 to 11:45 usa central time, and then from 13:45 until 15:30, i find the time betwen 11:45 and 13:45 to be very choppy and full of fake outs, since its low volume and its lunch.

So thats a good thing, i trade for around 2 hours and then have a nice big break where i go to the gym and then come back for another 2 more hours, so its not that bad, while waiiing i listen to music and troll around the forums lol 😀


If you like i can link you to the video and text file containing the rules and so forth.

Withkind regards
Bashir Naimy

 

[santana55]

In a upward trend the 1min dont need to float around 70 just to be in a uptrend, just look at the last 2 hours rally we had,there where many places where you could entre long, if u used the 1min to ur advantage, it dont mean the 1min will come down very often, but when it does, thats ur windows or entry.And if it does not, then bad luck.

Please have a look at the pics that are attached, its 1 pic of a 1minchart where you could have had severel entry's and 3min chart with the same.

Price does not have to go below the 20 line, for you to look at that as a point of entry, it going halfway to the range is good enough.You need to be flexible when trading, and your rules should be allittle flexible, otherwise we could just program it and let a machine a machine trade, but the advantage with being a human is that you are flexible and can make a full picture of the marked and how its acting.

When you have traded technicly for a longtime,u will be able to see paterns and almost forsee what the marked will do next, you basicly understand how the marked behaves,its just like a living and breathing being.

But now i am taking this to another discucion, anyways, have a look at the pics and im sure those will explain it better, they say a picture alot more 😀


With regards
Bashir Naimy

Thank you for the pics.

So to summarize when looking to go long if one or both the 10min and 30min stoch have been up for quite a while (overbought levels) you can wait for the 1min or 3min stoch to get oversold before entering your long position for added security.

 

[bnaimy]

Thank you for the pics.

So to summarize when looking to go long if one or both the 10min and 30min stoch have been up for quite a while (overbought levels) you can wait for the 1min or 3min stoch to get oversold before entering your long position for added security.

Correct,right on the money :clap:

With regards
Bashir Naimy

 

[Chorlton]

Hi Chorlton, good to hear from you.
Well the 3-4 trades for day was for my older method that i posted first, i dont know if you have read true all the posts ,but i have posted a tottaly of 3 methods, the last method is my final one and i have posted a video with rules and exacmples and stuff likethat.

This last method will give around 4-8 trades, depending on the day,so there are alot more trades to be had.And there are also ways of scalping a move while waiting for the main trade, witch is a pullback trade.

I trade from 09:30 to 11:45 usa central time, and then from 13:45 until 15:30, i find the time betwen 11:45 and 13:45 to be very choppy and full of fake outs, since its low volume and its lunch.

So thats a good thing, i trade for around 2 hours and then have a nice big break where i go to the gym and then come back for another 2 more hours, so its not that bad, while waiiing i listen to music and troll around the forums lol 😀


If you like i can link you to the video and text file containing the rules and so forth.

Withkind regards
Bashir Naimy

Hi Basmir,

If you could do that , I would be most grateful 🙂

Up to very recently I have only ever been interested in longer term trading so have very little experience with day trading. However, your thread has sparked some interest for me and consequently I'm now considering taking a closer look at trading this smaller timeframe.....

Kind Regards,

Chorlton

 

[JoeInvest]

Forex Markets

Originally Posted by smbtnt View Post
thanks to bnaimy for this system,
anyone implemented on forex. eur/usd specifically?

I have not experience with those markeds personly, maybe otheres here have info for our friend smbt?

Never traded those markeds, i think blades is doing forex ?

WIth regards
Bashir Naimy

Bashir, I have been using your methods on US/JPY and EUR/GPB with VERY successful rates. I'm just still practicing but looking forward to doing this live pretty soon. Thank you for your simple, but very effective method. I'm a fan!👍

 

[spinalwiz]

Bashir,

check this out, Near term volatality CBOE Near-term VIX Index (^VIN), is over 75 now, I think its better to just stay out !!

joker

Or how about ^VXD , this is the volatility index just for the Dow Jones

http://finance.yahoo.com/q?s=^VXD

 

[people2008]

60 on VIX - 20point stops Bnaimy

 

[people2008]

markets like a rocket carn't get a fill

 

[bnaimy]

Hi Basmir,

If you could do that , I would be most grateful 🙂

Up to very recently I have only ever been interested in longer term trading so have very little experience with day trading. However, your thread has sparked some interest for me and consequently I'm now considering taking a closer look at trading this smaller timeframe.....

Kind Regards,

Chorlton

Here is the link to the latest video, there i am talking about what charts you need and how to apply the rules and some other basic stuff.

capture-1.avi on MyOtherDrive


And i have also attached a file containing the rules.

With regards
Bashir Naimy

 

[bnaimy]

60 on VIX - 20point stops Bnaimy

Yes i have been using 20tick stops, works okey so far,if vix goes any higher, i recommend you stop trading for today, its friday 😀

Had many good trades today, and so i am taking the rest of the day of 😀

Havent had any problems getting fils though, i have gotten my fills everytime 👍

With regards
bashir naimy

 

[bnaimy]

Bashir, I have been using your methods on US/JPY and EUR/GPB with VERY successful rates. I'm just still practicing but looking forward to doing this live pretty soon. Thank you for your simple, but very effective method. I'm a fan!👍

Good to hear that you are liking this, keep use informed with your succeses 👍
We would all love to see how you do in the currency trading 😉

With kind regards
Bashir Naimy

 

[davidnorman]

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.

Many thanks Willem...that is starting to be much clearer...