Here is the way i daytrade the Emini-YM

[bnaimy]

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

Yes, price would need to be below that 89ema, on the 89tick chart, gives you alot more safety.

Today have been on of the worste days ever, morning session was awefull and after lunch time it was only sideways chopp and no trade to be had.The only time you would get afew good trades was in lunch time.And of couse i am not traing at hat time

Lost around -16 ticks, thank god i was only tradin 1 car at a time, was not into risking so much on a day like this.

Hopefuly the rest of you dident get hurt today, partly my own fault, was to eager to get into a trade and got int to early.

Hopefully tomorow will be alot better and no this choppy.

Happy trading guys.

WIth kind regards
Bashir Naimy

 

[the blades]

rubbish for me, trading the FTSE.

2 wins, 2 losses, 1 b/e. Finished about 10 pts down.

Onwards and upwards.

UTB

 

[smoodi]

Crucified in the first half an hour......stopped out when i tried 3 trades.....hate wide high/lows ....got a bit of the run up to positive territory to claw back my losses. Learnt a valuable lesson about avoiding the first hour .

Shay

 

[bnaimy]

Crucified in the first half an hour......stopped out when i tried 3 trades.....hate wide high/lows ....got a bit of the run up to positive territory to claw back my losses. Learnt a valuable lesson about avoiding the first hour .

Shay

i got a couple of scalps early in the day, but then the marked decided it wanted to a 180% reversel and then when in lunctime it rallyed, then it dide another 180% reversel.

Then it decided it wanted to chopp betwen the 8480 level and the 8360 level.
And it stayed there for the entire day, and i then got borred and tryed a trade in betwen there and got stoppped out,even though i knew it was support below there.

I hate it when i know i should not do a trade, but i still manage to click and 5 seconds later im scratching my head askingmyself why i was short there, and cant seem to come up with any valid reasons

Well, a valuable lesson learned today, stick to the freaking rules, no matter how borring it gets.

Im glad you got your ticks back smoodi, i was down -16 at the end, and was pretty sure if i dide another trade it would be a looser, better with -16 then -56 ticks.

You have a wonderfull day, and hopefully tomorow will be alot better.

With kind regard
Bashir Naimy

 

[people2008]

Thanks for the reply Bnaimy

Was a very wierd yesterday, think i took that same trade as u Baimy. Was up a massive 3Ticks all day, then took a afternoon short trade straight into support, even though i knew i shouldn't be doing it & was of course stopped out. Think it was the fact that i wanted to do a trade. Lesson learnt

Good Trading 2day

 

[bnaimy]

Thanks for the reply Bnaimy

Was a very wierd yesterday, think i took that same trade as u Baimy. Was up a massive 3Ticks all day, then took a afternoon short trade straight into support, even though i knew i shouldn't be doing it & was of course stopped out. Think it was the fact that i wanted to do a trade. Lesson learnt

Good Trading 2day

The Vix is at 69 right now, so its very very high, i might only do the morning session today, price seems to go crazy after lunhwhen the vix is so high , and the marked will laugh at my 20tick stop

I just hope the vix gets lower, below 60 would be great, at least then i can trade with 20tick stops.

Anyways, good luck with your trading today and ill report after the morning session, and hopefully with a big pluss :cheesy:

With regards
Bashir Naimy

 

[WillemDrees]

The Vix is at 69 right now, so its very very high, i might only do the morning session today, price seems to go crazy after lunhwhen the vix is so high , and the marked will laugh at my 20tick stop

I just hope the vix gets lower, below 60 would be great, at least then i can trade with 20tick stops.

Remember the good old days when the VIX was well below 40, and 45 was an all-time high? Like last month?

 

[davidnorman]

Just had a terrible day on FTSE....cant seem to trust the system...I went into 2 trades everything was right (i think) and then sat there watching it tick down.....sh-- myself and then as soon as it got back into positive teritory I sold it making a small profit....I did this twice only to watch the price tick up and past where my limit order would have taken me out with a nice 15 point profit (just trading 1 position ) sooooooo frustrating and i know its my fault...then when i did leave it alone I got stopped out twice for a 2 x 20 point loss !!!!!! Down 25points on the day and its totally my fault for not trusting system....only trading £2 a point but what chance do i have if I bottle it at £2 a point imagine if it was £10 a point !!!!!!

Sorry to rant but i am so angry with myself....I am off to bed ( I am in Thailand)...hope every one does well on DOW I am too tired and pis---- off to watch it....

Regards

Dave

 

[davidnorman]

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.

Thanks for that...I also did not know that i could just close half of the position....I will try that tomorrow...

Thanks for your advice...

Dave

 

[spinalwiz]

Just had a terrible day on FTSE....cant seem to trust the system...I went into 2 trades everything was right (i think) and then sat there watching it tick down.....sh-- myself and then as soon as it got back into positive teritory I sold it making a small profit....I did this twice only to watch the price tick up and past where my limit order would have taken me out with a nice 15 point profit (just trading 1 position ) sooooooo frustrating and i know its my fault...then when i did leave it alone I got stopped out twice for a 2 x 20 point loss !!!!!! Down 25points on the day and its totally my fault for not trusting system....only trading £2 a point but what chance do i have if I bottle it at £2 a point imagine if it was £10 a point !!!!!!

Sorry to rant but i am so angry with myself....I am off to bed ( I am in Thailand)...hope every one does well on DOW I am too tired and pis---- off to watch it....

Regards

Dave

If you find this is happening it probably means the stakes are higher than you are comfortable with - I started trading with stakes that were far too high and often did exactly what you described. By reducing them to the point were I didnt really mind if my stop loss got hit I found I started to trade much better. If you contact IG they have a 6 week programme where the minimum stakes are reduced to 10p and gradually ramp back up over the 6 weeks. I think if you search for TradeSense you should find it. Its a shame New York is on the other side of the world to Thailand as the Dow is half the risk at £1 p/point

 

[Bapovs]

%k => 10
Fast%D => 3
Slow%D => 3

Thats what i use , i hope that helps.

With regards
Bashir Naimy

Hi Bashir Naimy,

First i would like to say thanks for revealing your trading plan. I really appreciate it as many others do.

I was trying to get the slowstochastics in my Esignal sytem but i only have the normal stochastics.
maybe you have the parameters for me?

%K:

%K:

%D:

See attachment


Thanks

 

[jokepie]

Hi Bashir Naimy,

First i would like to say thanks for revealing your trading plan. I really appreciate it as many others do.

I was trying to get the slowstochastics in my Esignal sytem but i only have the normal stochastics.
maybe you have the parameters for me?

%K:

%K:

%D:

See attachment


Thanks

Hi Bapovs,

I have the same problem, I have esignal too ( i feel like i am paying too much) I am using, 14, 2, 3 settings which seem to be closer to slow stoch.
Are u trading stocks or futures ?

Bashir's reply might help know better on the settings !!!

regards

Joker

 

[jokepie]

The Vix is at 69 right now, so its very very high, i might only do the morning session today, price seems to go crazy after lunhwhen the vix is so high , and the marked will laugh at my 20tick stop

I just hope the vix gets lower, below 60 would be great, at least then i can trade with 20tick stops.

Anyways, good luck with your trading today and ill report after the morning session, and hopefully with a big pluss :cheesy:

With regards
Bashir Naimy

Bashir
First I would like to thank you again for this system !
I have traded live with this sytstem for two days now and have been Positive.
Yesterday felt crazy and so does today - no direction - feels like NOT using stops - all kind of emotional turmoil. I think I am not the only one having this problem.

But yes , to all of you - this system works - Need to follow it to the last line - I messed up couple of times as i jumped the gun (to take the loss as it seemed like market was going to change direction - and it did alot yeaterday ).

I guess these are not the best times for this systems. but it still works. have to be very patient - and concentrated.

thanks again to basshir and all contributing here..

regards

joker

 

[jokepie]

Just had a terrible day on FTSE....cant seem to trust the system...I went into 2 trades everything was right (i think) and then sat there watching it tick down.....sh-- myself and then as soon as it got back into positive teritory I sold it making a small profit....I did this twice only to watch the price tick up and past where my limit order would have taken me out with a nice 15 point profit (just trading 1 position ) sooooooo frustrating and i know its my fault...then when i did leave it alone I got stopped out twice for a 2 x 20 point loss !!!!!! Down 25points on the day and its totally my fault for not trusting system....only trading £2 a point but what chance do i have if I bottle it at £2 a point imagine if it was £10 a point !!!!!!

Sorry to rant but i am so angry with myself....I am off to bed ( I am in Thailand)...hope every one does well on DOW I am too tired and pis---- off to watch it....

Regards

Dave

I understand ur pain dave - I trade stocks with this systems. I am keeping my profit targets very low and i am not scaling out of positions - just taking the profits in the first go - ususally $70 - 100, I think given the volatality - after i hit 4-5 like these in whole of day . I pack up or just trade on simulator.

regards
joker

 

[bnaimy]

Hi Bashir Naimy,

First i would like to say thanks for revealing your trading plan. I really appreciate it as many others do.

I was trying to get the slowstochastics in my Esignal sytem but i only have the normal stochastics.
maybe you have the parameters for me?

%K:

%K:

%D:

See attachment


Thanks

Hi, i am not completly sure, but i think the slow stochastics is the same as the normal stochastics.And from the picture you just shown me, the settings are all fine.
But as a extra thing that i am using, if you have the option to choose what type of moving average type i would choose the whilder's moving average, its alot better then the normal simplemoving average the slow stoch is using.

From the looks of things, it seem the Esignal program is very basic, i find sierracharts to be alot more advanced then anything else out there, graphic wise, its not much to look at,but its super advanced and cost me only 26usd prmonth.. I strongly recommend you get that instead.

But your guys settings looks just fine, but i cant be sure if the slow stoch and the normal stoch are the same. I can choose from slow stoch and fast stoch, i presume the slow stoch i am using is the same as the normal stoch that u guys are using.
And nother thing, stochastics on different platform produce different results it seems.

Anyways, show me a picture with your normal stoch on a 1 min chart on the first 1hour of trading from today , and i will see how similer it is to mine.


On the attachment is a picture of a 1min chart, the fist stoch is a slow stoch with whilder's moving average and the second stoch is a also a slow stoch with the defauly simple moving average.

Have a look and compare that you yours, the settings are still the same, 10.3.3

With kind regards
Bashir Naimy

 

[bnaimy]

Use lower margine

Just had a terrible day on FTSE....cant seem to trust the system...I went into 2 trades everything was right (i think) and then sat there watching it tick down.....sh-- myself and then as soon as it got back into positive teritory I sold it making a small profit....I did this twice only to watch the price tick up and past where my limit order would have taken me out with a nice 15 point profit (just trading 1 position ) sooooooo frustrating and i know its my fault...then when i did leave it alone I got stopped out twice for a 2 x 20 point loss !!!!!! Down 25points on the day and its totally my fault for not trusting system....only trading £2 a point but what chance do i have if I bottle it at £2 a point imagine if it was £10 a point !!!!!!

Sorry to rant but i am so angry with myself....I am off to bed ( I am in Thailand)...hope every one does well on DOW I am too tired and pis---- off to watch it....

Regards

Dave

This is a typical error for a new trader, this is something that comes with time and experience, i suggest you go on a simulator until you fell comfy with the system okey.

That way you will not second guess yourself, and try lowering your stake and dont bet so much that you will not fell comfy.

With kind regards
Bashir Naimy

 

[jimbo99x]

Just had a terrible day on FTSE....cant seem to trust the system...I went into 2 trades everything was right (i think) and then sat there watching it tick down.....sh-- myself and then as soon as it got back into positive teritory I sold it making a small profit....I did this twice only to watch the price tick up and past where my limit order would have taken me out with a nice 15 point profit (just trading 1 position ) sooooooo frustrating and i know its my fault...then when i did leave it alone I got stopped out twice for a 2 x 20 point loss !!!!!! Down 25points on the day and its totally my fault for not trusting system....only trading £2 a point but what chance do i have if I bottle it at £2 a point imagine if it was £10 a point !!!!!!

Sorry to rant but i am so angry with myself....I am off to bed ( I am in Thailand)...hope every one does well on DOW I am too tired and pis---- off to watch it....

Regards

Dave

Hi Dave

I see that you’re trading intraday using a spread bet platform. It is my honest opinion (and I maybe shot down in flames here) that it is almost impossible to daytrade on a spread bet platform. Spread bet companies have their own markets and the prices are skewed to suit the bets that they have on at any particular time and therefore do not follow the exact support and resistance lines that you get in the true futures market traded on the exchanges (cme, cbot, liffe, eurex etc). This I believe makes trading intraday using support and resistance extremely difficult.

Spread bet is only popular in the UK because of its tax free status (it’s totally illegal in the USA), take that away and it has no purpose. But I would say that position or swing trading is perhaps the only way to use them where exact entry and exit to the market does not matter.

Just my opinion after using both brokers and spread bet companies over the years.

Best
Tony

 

[bnaimy]

Bashir
First I would like to thank you again for this system !
I have traded live with this sytstem for two days now and have been Positive.
Yesterday felt crazy and so does today - no direction - feels like NOT using stops - all kind of emotional turmoil. I think I am not the only one having this problem.

But yes , to all of you - this system works - Need to follow it to the last line - I messed up couple of times as i jumped the gun (to take the loss as it seemed like market was going to change direction - and it did alot yeaterday ).

I guess these are not the best times for this systems. but it still works. have to be very patient - and concentrated.

thanks again to basshir and all contributing here..

regards

joker

Thanks for those kind works Jokepie, i appritiatte it

With regards
bashir Naimy

 

[Bapovs]

Hi Bapovs,

I have the same problem, I have esignal too ( i feel like i am paying too much) I am using, 14, 2, 3 settings which seem to be closer to slow stoch.
Are u trading stocks or futures ?

Bashir's reply might help know better on the settings !!!

regards

Joker

Hi Jokepie,

Yes, we pay too much for out charting package and the Powerscan wich i'm also using. I use Esignal for trading stocks but having alot of issues with it (slow data).
I requested a trial for Sierracharts i.c.w. IB, trying to get the exact same settings as our
friend Bashir Naimy.

Regards,

Bapovs

 

[jokepie]

Hi Jokepie,

Yes, we pay too much for out charting package and the Powerscan wich i'm also using. I use Esignal for trading stocks but having alot of issues with it (slow data).
I requested a trial for Sierracharts i.c.w. IB, trying to get the exact same settings as our
friend Bashir Naimy.

Regards,

Bapovs

Hi Bapovs,

I will do the same, Its amazing that their best package is only 1/3 rd the cost of Esignal. there's some thinking need to be done. I will order a demo today as well.

regards.
joker