Here is the way i daytrade the Emini-YM

[bnaimy]

Hi Bashir


Have you used the system in quieter normal times like we used to have, which surely will come back?

Best
Tony

Hi m8, what you mean is basicly sidedeways marked and where price is not moving that much,actualy it works in that those conditions to and i prefer trading in calmer markeds.

I would love it to go back tot he way it was , cause the way this method works it does not matter if it sideways or if its volatile or alot of big moves, only thing is that when volatility increases you only need to asjust your stop and your targets ,thats it, the system remains the same.

This method is not based on any type marked condition, so that will not affect it.
I dont like to trade when the volatility increases to much, just a personal prefereance, as i dont like to put to big stops, even though my targets are also higher.

I have actualy backtestet a year back, with older data, where things where calmer, the outcome is the same everytime, does not matter what marked conditions we are in.
In my honest opinion, this is a pretty universal method that dont take marked conditions into consideration.

I know what you are thinking, there are alot of methods out there that works great for a short periode of time and then they dont work at all because marked conditions have change, in my opinion those methods have big fundametal errors that are just doomed to fail overtime, simple reason is that they take marked conditions as a part of the method, take the marked condition out of the method and you will be left with a method that is not affected by it, and will produce reliable results over time.

I think when making a method its importent to dont put to much importance to marked condition, if your system is reliying on a marked that have big price range,, then that method will fail when marked is in a short price range, and its just a failed experiment at best.

I will leave you guys to discuss this more, its a very interesting topic, i will share more info fundamental reason why this methos works, and i think you guys will find it interesting. But before i do that, i would like to hear what you guys think and what kind of ideas you guys have :?:

I am pretty sure this will work for a long time time, lets see of you guys can figure out why i think that ?

Just one tip "time cycles never change"

With regards
Bashir Naimy

 

[bnaimy]

Hi Bashir

That was a very clear description of what you do on the exit...really get that now many many thanks....I will have a long look at this and I will let you know. Will probably put some more capital into my trading account so i am not risking more than 2% each trade...

One other question would the DOW Future Daily be a similar product on the IG Index platform that you acually trade..

Thanks again for all your help and support

Dave

Hi Dave, i dont think i understood that question , can you please explain it to me in simple terms ?

"One other question would the DOW Future Daily be a similar product on the IG Index platform that you acually trade.." :?:



With kind regards
Bashir Naimy

 

[bnaimy]

Hi Thanks for that between your answer and Bashir's I think I have it nailed....Do you trade the FTSE by any chance and if so how do you find his system on it..

Regards

Dave

This method is very basic and does not take marked condition as a variable.
So this method will work in any marked, so you can use it on the FTSE with similer results as i get in the EMINI YM.

Try it out on a simulator account first, so you get used to it and when you trust the method then go live with cash.

Stick to the rules and u will do great.

WIth kindr regards
Bashir Naimy

 

[davidnorman]

Hi Dave, i dont think i understood that question , can you please explain it to me in simple terms ?

"One other question would the DOW Future Daily be a similar product on the IG Index platform that you acually trade.." :?:



With kind regards
Bashir Naimy

Hi again...what i am trying to get at is you trade the Emini YM what is that and what would a similar product be with IG Index....

Thanks Dave

 

[WillemDrees]

Hi again...what i am trying to get at is you trade the Emini YM what is that and what would a similar product be with IG Index....

Thanks Dave

Google don't work in UK? It's the 3rd result if you search for Emini YM...

My IG demo account just expired, so can't get the market data, but the Dow mini is a mini-future contract on the Dow index. It's the little, ie cheaper, brohter of the Dow future.
IG has all the indexes, including DOW. The way IG spreadbetting and CFD's work is quite similar to futures, apart form the spread off course, so any index will do for you. no need to look for mini's either as you can trade any amount instead of the fixed tickprice of a mini.
As you need to beat the spread, a big vola will be required i'ld say.

 

[bnaimy]

Google don't work in UK? It's the 3rd result if you search for Emini YM...

My IG demo account just expired, so can't get the market data, but the Dow mini is a mini-future contract on the Dow index. It's the little, ie cheaper, brohter of the Dow future.
IG has all the indexes, including DOW. The way IG spreadbetting and CFD's work is quite similar to futures, apart form the spread off course, so any index will do for you. no need to look for mini's either as you can trade any amount instead of the fixed tickprice of a mini.
As you need to beat the spread, a big vola will be required i'ld say.

Thanks WillemDrees for explaining that, you are very helpfull and i apprittiate that alot,keep up the great work :clap:

With kind regards
Bashir Naimy

 

[WillemDrees]

Thanks WillemDrees for explaining that, you are very helpfull and i apprittiate that alot,keep up the great work :clap:

With kind regards
Bashir Naimy

:cheesy: No problem Bashir, we all learn a lot here. How about givin me my first rep then?

 

[bnaimy]

:cheesy: No problem Bashir, we all learn a lot here. How about givin me my first rep then?

Rep added

With regards
Bashir Naimy

 

[vit007]

Here are the rates what infinity futures have, please see attached file.
They have very competative rates, in my opinion.

When it comes to charting, i highly recommend you use sierrachart, i dont understand why people pay severel hundred for a software that dont really give them anything extra.

Sierracharts give you a endless list of indicators and everything imaginable, and i personaly only pay 26 usd pr month now, and thats dirt cheap.And the datafeed you can get for them for a additional fee or just get it directly from the trading platform, and that is 100% free.

I am sure the other expensive charts have alot of eyecandy, but i would rather choose funktionaltity rather then eyepopping candy

Sierra Chart - Financial Market Charting and Trading Software

With kind regards
Bashir Naimy

Hi Bashir. So what package # do you recomend ?
Vit.

 

[bnaimy]

Hi Bashir. So what package # do you recomend ?
Vit.

Package 3,thats what i am using and that should cover everything that you need.

With kind regards
Bashir Naimy

 

[WillemDrees]

I've just signed up for package, and doing a first looks of SC.
How first impressions can deceive, it is a very good piece of chartingtool. :smart:
I LOVE the keyboard shortcuts, move from a 10m to a 1min frame, just type: 1 M ENTER
Great stuff.
Thanks for pointing them out Bashir.

 

[vit007]

Package 3,thats what i am using and that should cover everything that you need.

With kind regards
Bashir Naimy

Thanks Bashir

 

[davidnorman]

Google don't work in UK? It's the 3rd result if you search for Emini YM...

My IG demo account just expired, so can't get the market data, but the Dow mini is a mini-future contract on the Dow index. It's the little, ie cheaper, brohter of the Dow future.
IG has all the indexes, including DOW. The way IG spreadbetting and CFD's work is quite similar to futures, apart form the spread off course, so any index will do for you. no need to look for mini's either as you can trade any amount instead of the fixed tickprice of a mini.
As you need to beat the spread, a big vola will be required i'ld say.

Many thanks again....

Regards

Dave

 

[jadex]

Here are the rates what infinity futures have, please see attached file.
They have very competative rates, in my opinion.

When it comes to charting, i highly recommend you use sierrachart, i dont understand why people pay severel hundred for a software that dont really give them anything extra.

Sierracharts give you a endless list of indicators and everything imaginable, and i personaly only pay 26 usd pr month now, and thats dirt cheap.And the datafeed you can get for them for a additional fee or just get it directly from the trading platform, and that is 100% free.

I am sure the other expensive charts have alot of eyecandy, but i would rather choose funktionaltity rather then eyepopping candy

Sierra Chart - Financial Market Charting and Trading Software

With kind regards
Bashir Naimy

Hi Bnaimy,

Firstly: Great thread. Very informative. Good job :clap:

To paraphrase your sentence: I do not understand why people do pay for charting software at all. :smart:
I am with TradeStation, and I pay them nothing if I do 10+ rounds per month.
And mini data feed package (which covers YM) is only $10 per month.
Spread is 1 point, and transaction fee is less than $5 per round, so in effect it works like 2 points spread in total (i.e. spread + costs).
Now THIS is dirty cheap, isn't it?
So you have: data, charts, direct access, brokerage, very versatile platform, programming language, historical data, and more... in one place which is d*mn very convenient (at least to me).

Cheers :cheers:

 

[spinalwiz]

Hi again...what i am trying to get at is you trade the Emini YM what is that and what would a similar product be with IG Index....

Thanks Dave

Hi Dave,

Just to confirm - the equivilant product on IG is 'Wall Street Daily Future (Dec)'.

And regarding your comment about the FTSE - if you open a position at £2 p/point you can just close half of it (or less) at anytime. This is a great way of using Bashir's money management techniques without having to risk more money. The same is true with the Wall Stree Daily Future - the minimum stake is £1 p/point and so just close 50p or 33p of it to close out part of your position.

One comment about using this technique on the FTSE - after the US open at 2:30pm (UK time), the FTSE tends to follow the Dow Jones so bear this in mind.

 

[WillemDrees]

...I am with TradeStation, and I pay them nothing if I do 10+ rounds per month.
And mini data feed package (which covers YM) is only $10 per month.
Spread is 1 point, and transaction fee is less than $5 per round, so in effect it works like 2 points spread in total (i.e. spread + costs).
Now THIS is dirty cheap, isn't it?
So you have: data, charts, direct access, brokerage, very versatile platform, programming language, historical data, and more... in one place which is d*mn very convenient (at least to me).

Cheers :cheers:

Not a bad deal. I did notice with gnutrade spreadbetting, that the spread on the S&P for instance, where the ticks in the future are 0,25 point, gnutrade bets in full points only, AND they round the number in their favor, making the spread in effect up to 0.9 point larger then they advertise.
Example:
S&P is 870.2, spread is 4 points.
In uptrend at gnutrade buy at 873, sell 869
In a downtrend however sell would be 868, buy 872
This 5 point spread on the S&P was a bit too much for me, although i haven't tried it using Bashir's strategy.
The only thing i still like about the spreadbetting platforms is the low entry, very cheap to start getting into the game.

 

[bnaimy]

Hi Bnaimy,

Firstly: Great thread. Very informative. Good job :clap:

To paraphrase your sentence: I do not understand why people do pay for charting software at all. :smart:
I am with TradeStation, and I pay them nothing if I do 10+ rounds per month.
And mini data feed package (which covers YM) is only $10 per month.
Spread is 1 point, and transaction fee is less than $5 per round, so in effect it works like 2 points spread in total (i.e. spread + costs).
Now THIS is dirty cheap, isn't it?
So you have: data, charts, direct access, brokerage, very versatile platform, programming language, historical data, and more... in one place which is d*mn very convenient (at least to me).

Cheers :cheers:

Hi M8, the reason i am not using tradestation is that sometime when there is alot of price action,price tends to lagg and the fills are not that good. I dide try it for a few months but never dide like it.

It is very cheap,but i find the fills and the livefeed to be not that reliable as i would like it to be.MAybe im just being picky :cheesy:

But it is a pretty good software with everything you can imagine, so i agree with u one that one. ANd its very userfriendly aswell.

WIth kind regards
Bashir Naimy

 

[jimbo99x]

Hi Bnaimy,

Firstly: Great thread. Very informative. Good job :clap:

To paraphrase your sentence: I do not understand why people do pay for charting software at all. :smart:
I am with TradeStation, and I pay them nothing if I do 10+ rounds per month.
And mini data feed package (which covers YM) is only $10 per month.
Spread is 1 point, and transaction fee is less than $5 per round, so in effect it works like 2 points spread in total (i.e. spread + costs).
Now THIS is dirty cheap, isn't it?
So you have: data, charts, direct access, brokerage, very versatile platform, programming language, historical data, and more... in one place which is d*mn very convenient (at least to me).

Cheers :cheers:

Hi jadex

Be very wary of Tradestation when things go wrong, their customer service is atrocious (try phoning their customer support on a fed day). I have had stops not filled, the server going down in the middle of trades and severe price lags at big volume times, not to mention chart freezes on fed days! Their software as they have admitted to me does not cope with new multi core computers, therefore if you are running a quad core it will only use one of those cores and hence freeze.

On the upside their charting is great but there it stops

Sorry to be a downer but my experience with them was very poor……………….!

My advice would be if you like their charts just do your 10 round turns a month, have a very fast internet connection and a fast processor computer and then use another broker for your main trades.

Best
Tony

 

[BayouTrader]

Tony

That's how I do it. I can't tell you how many times TS has lagged/frozen during a busy period. I use Interactive Brokers as my broker and TS for charting. Good system.

cheers,

Lou

 

[people2008]

Hi Bnaimy

With yr trading plan, if the 10mins is down & the 30min & 3min are up, so setting up a short at the 50EMA does 89Tick chart come into play? i.e does price have to be under the 89EMA?

Thanks