Here is the way i daytrade the Emini-YM

[bnaimy]

Hi Bashir

I would just like to thank you for pointing me in the direction of Infinity and Sierra Charts, I’ve just signed up with them both and all looks good so far.

Might take me a while to get my head around Sierra though !

Infinity seems to make my old GF Global account with Strategy Running platform seem old fashioned and slow.

Cheers
Tony

Hey Tony

Sierrra is pretty advanced but should be easy to learn, dont hasitate to ask any questions here, i will be more then happy to answer any question regarding the sierrachart, im not a expert in it myself, but i know the basics.

With kind regards
Bashir Naimy

 

[Bapovs]

Hi, this is the latest file, so you are correct with this file.
The daily pivots is a funtion is sierrachart, they are automaticly drawn for me in my chart. ANd they are different each day.But the software does that for me, most software have that funktion.

I use whilder's in my slow stochastics, not everybody have that funktion available, so if u dont have it then you can still use a normal slow stocahstics, remember each softwarer will show the slow stochastics differently.So the Whilder's ma is not a moving average that i use a line on my charts, its a moving average that is used to smoothen out the slow stochastics,because normaly the slow stochastics used a simple moving average, and that is kinda to sensetive to price action.

Your stochastics question is easy, my suggestion is, keep it simple.
When the two lines have crossed thats all you need to know, dont give any more thoughts about that levels on the stocshsatics.IF the two lines have crossed and are going up, then thats what you need to know, if its
below the 30level or above, does not matter.If i missunderstodd the question, the let me know and i will try ot answer it better.



With kind regards
Bashir Naimy

Thank you for your answer.


Kind regards,

Sebastian

 

[Bapovs]

Well, i singed up for Sierra charts, but how do i use the Whilders in my slow stochastics?
I have an IB account and it looks like it's impossible for me (how stupid can i be) to plot an YM chart in my Sierra charts. I used: YM-200812-ECBOT and YMZ8-FUT-ECBOT.
I do get other symbols but only stocks no futures...
Weird thing...

Cheers

 

[bnaimy]

Well, i singed up for Sierra charts, but how do i use the Whilders in my slow stochastics?
I have an IB account and it looks like it's impossible for me (how stupid can i be) to plot an YM chart in my Sierra charts. I used: YM-200812-ECBOT and YMZ8-FUT-ECBOT.
I do get other symbols but only stocks no futures...
Weird thing...

Cheers

Go to where you find your slow stochastics, on the studies page.
Then click the slow stochastics that you have added, then click settings, there
you will see a line called moving average type, there you can choose whilder's moving average.

When it comes to getting a YM chart up, go to File on the upper left corner and then click find symbol and open chart.There you should be able to open the YM.

IF its not there, then that means your dataprovider is not getting that info for you, and check you livedata settings, those needs to in done first.

With kind regards
Bashir Naimy

ps: im kinda busy getting ready for trading, let me know how it goes:!:

 

[Bapovs]

Go to where you find your slow stochastics, on the studies page.
Then click the slow stochastics that you have added, then click settings, there
you will see a line called moving average type, there you can choose whilder's moving average.

When it comes to getting a YM chart up, go to File on the upper left corner and then click find symbol and open chart.There you should be able to open the YM.

IF its not there, then that means your dataprovider is not getting that info for you, and check you livedata settings, those needs to in done first.

With kind regards
Bashir Naimy

ps: im kinda busy getting ready for trading, let me know how it goes:!:

Thanks again, i'm getting also ready for my normal daytrading. I'll do this during lunch.
I'll keep you informed.

~Sebas.

 

[laserwolf]

Hi Bashir,

I have a couple of questions on the system:

1. When you look at the slow stochastics to see if it's hooking up/down, do you look at the %K or the %D line?

2. For retracements, sometimes the 15 EMA is not the first support/resistance to be reached on the 1 minute. I think you mentioned in one of the videos that you trade on the 1st resistance, even if it is not the 15 EMA. could you confirm that? Also, if you're waiting for the 2nd resistance, does it have to be the 50 EMA.

You mentioned you'd try out using trailing stops on Infinity for the second target. did you have any luck?


Thanks!

 

[spinalwiz]

Thanks again, i'm getting also ready for my normal daytrading. I'll do this during lunch.
I'll keep you informed.

~Sebas.

Hi,

Interactive Brokers automatically provide the data feed for US Futures (incluing YM) when you sign up so this should be ok. You may need to change your trading permissions though to enable trading of US Futures. You can do this in the account management screen under trading access.

 

[sebby2468]

It will be interesting to see how this system pans out,seems simple enough which is good,too many lines on a chart,and you end up seeing things that aren't really there,and I like to keep it simple,great thread

 

[vit007]

Hey Tony

Sierrra is pretty advanced but should be easy to learn, dont hasitate to ask any questions here, i will be more then happy to answer any question regarding the sierrachart, im not a expert in it myself, but i know the basics.

With kind regards
Bashir Naimy

Hi Bashir . Can you post a time of your morning trade just to se set up.
Thanks .
Vit
Happy trading

 

[santana55]

2 birds 1 stone strategy

Hi santana, i started out with a 10k account, and i have been doing 2 contracts ever since almost I know i sometimes use 30tick stops,but i suggest those with 10k account use 20tick stops, if the marked is so volatile that it requires 30t+ tick stops, then i woould suggset that person not to trade for that day.

When doing 20ticks stops, then that would be 200usd and 2% of the account and that should be okey, as the account grows the 2 contracts will be less and less % of the the account and risk will be lowered.The importent thing is to get the account size to a level where risking 2 contracts is only 1% of the account. After that i would wait for the account to grow 40k and then start doing 4 cars, and using same profit targets and same method , and then wait for account to grow to 8 cars and do the same over and over again.If this was 50% hitrate method, then i would never in my wilderst dreams risk 2-3% of account, cause that would give you huge drawdown before hittting that big trade. You could be down 20% before getting a good homerun trade. Cause methods with low hitrate usualy try to get into a trend, and they make alot of misses before they actualy are in one.

Imagine doing 2 trades with 2 contracts each day for 20 days a month:
(40ticks x 20days) - (4tick commision x20days) = 720ticks pr month = 3600 usd.
Thats a 36% increase of the account, so getting it to grow will be going very fast.

If not 2 trades a day, even 1 trade a day will give you a 18% increase in account each month, i think 2 good trade pr day is more then possible.

With kind regards
Bashir Naimy

What i mean with hitting to birds with 1 stone is that when price breaks the last support or resistance, is that you wait for it to break, u dont do a breakout.
When a 1min bar is closed below that last support/resistance, then start look at your 89tick chart and buy it at the 15expon ma, make sure that the 1min stoch is on your side.
That way you can ride that breakout pretty easly, as soon as the 1min stoch is getting overbough/oversold then wait for your retracement/pullback, and do a second trade.

Thats a good way of getting 2 trades out of 1 move.

With kind regards
Bashir Naimy

Thank you Bashir for clarifying my question about account size and number of contracts traded.

Regarding the 2 birds with 1 stone strategy I just want to be sure I understood your example. When looking for a short sell set up you wait for the price to break and close below the last support level on the 1 min chart. Then you look to the 89 tick chart and sell it when it breaks through the 15 EMA making sure the 1 min stochastic is on your side. Then once the 1 min stochastic becomes oversold you wait for price to retrace for your main system trade set up. Am I understanding this correctly?

 

[Bapovs]

Go to where you find your slow stochastics, on the studies page.
Then click the slow stochastics that you have added, then click settings, there
you will see a line called moving average type, there you can choose whilder's moving average.

When it comes to getting a YM chart up, go to File on the upper left corner and then click find symbol and open chart.There you should be able to open the YM.

IF its not there, then that means your dataprovider is not getting that info for you, and check you livedata settings, those needs to in done first.

With kind regards
Bashir Naimy

ps: im kinda busy getting ready for trading, let me know how it goes:!:

Hi Bashir,

Finally i got it working including the YM contract that is running smoothly on my screen!

Sierra has alot of options but the interface is not that nice. Who cares if your trading the way like your plan. I mean if everything is set properly you don't have to change anything.
Tomorrow i'm going to try your system. I'll let you know how it went.

Regards,

Sebastian

 

[bnaimy]

Hi Bashir . Can you post a time of your morning trade just to se set up.
Thanks .
Vit
Happy trading

You want to me to show a pic of a morning trade that i will be doing tomorow as marked is live and open ?Dide i get that right ?



With kind regards
Bashir Naimy

 

[bnaimy]

Thank you Bashir for clarifying my question about account size and number of contracts traded.

Regarding the 2 birds with 1 stone strategy I just want to be sure I understood your example. When looking for a short sell set up you wait for the price to break and close below the last support level on the 1 min chart. Then you look to the 89 tick chart and sell it when it breaks through the 15 EMA making sure the 1 min stochastic is on your side. Then once the 1 min stochastic becomes oversold you wait for price to retrace for your main system trade set up. Am I understanding this correctly?

You almost got it right, lets imagine you want to go short, price breaks the last 20expon ma and you will then look at your 1min chart and wait for a bar to close below that 20expon ma, then look at your 89tick chart and price will be at that time allready have broken the 15expon on the 89tick, what you are looking for is a pullback to the 15expon.
But if the pullback are is above that area that was broken then you cant take it, give it some time until the 15expon on the 89tick moves below that are and then do the pullback.

Always have a the 1min on your side when doing this type of trade, when the 1min is oversold, then wait for your normal pullback.

With kind regards
Bashir Naimy

 

[vit007]

You want to me to show a pic of a morning trade that i will be doing tomorow as marked is live and open ?Dide i get that right ?



With kind regards
Bashir Naimy

Hi. Just a time of a trade you did tiday.
Thanks.
Vit.

 

[bnaimy]

Another tip for those who are trying out this method, i will soon a new video about a change in the rule.Not a big change but a very good one that will keep you out of trouble.

I told that when 10m is up and 30m is up , then you can dissregard the 3min stoch.

What i suggest and i see that this happens alot with this jittery marked, when going short this way, follow the rules as you would normaly.

But when going long, always make sure the 3min stoch is on your side, even if the 10min
and the 30min is going up, i see that many times the retracemtn is a failed one, when 3min is against you, espescially when using the whilder's moving average.

When marked is going lower,you can go short and do a retracement when 10min is going lower and 30min is going lower.Then you can dissregard the 3min.As normaly

When marked is going down and only 10min is going down and not the 30min then make sure that the 3min is on your side , as normaly.

When marked is going up and 10min is up and 30min is up. then always make sure that 3min is always with you.(the new rule)

When marked is going up and 10min is up and 30min is down , then always make sure that the 3min is with you.As normaly.


ALot of repetting i think, but i want to make sure everybody gets this, this will help you stay away from those failed retracemtn that i know a couple of you might have taken.

IN the new video i will talk more about this and give explanations.

With kind regards
Bashir Naimy

 

[bnaimy]

Hi. Just a time of a trade you did tiday.
Thanks.
Vit.

I dide at trade at 10:04 central usa time.
Another one at 10:12 central usa time.
Another one at 10:53 central usa time.
Another one at 11:32 central usa time.

There was a a retracement at 11:10 and 11:19
I was tempted at taking those, but the 3min was pretty overbought and was down there
for quite some time, so waited for it to go back up. Since i am using whild'ers moving the 3min is very reliable and going against it seems alittle futile.

Those who took those trades , i would have worked, the other one would have stopped you out, only if you where using 20tick stops, the vix was above 70 so that is extremply high , so you should be using 30tick stops. But i was using 20 ticks stops, thats why i was carefull with going the 3min stoch.

Dide a few scalps after lunch, and got stopped out once, but that was my own fault,was being to eager.

Other then that ,the day today was just garbabe in my eyes, after lunch it was just major choop, and then 1min bars where above 40ticks each. Just crazy price action, god i miss those calm days, its stressfull trading this marked.

I hope you all dide okey today?

With kind regards
Bashir Naimy

ps: the trade early in the session at 10:17 was a retracemtn, the reason i dide not take it , i was looking at my price ladder, and there was alot of shorters above there and the way the price raced down again made me to sit on the sideline. Whenever price goes down so fast and agressivly, that is not a good sign.I got 1 retracement on that trade at 10:13, the reason i bough it there was that it was a few ticks above that last 20expon ma that is broke earlyer.

With regards
Bashir Naimy

 

[bnaimy]

Hi Bashir,

Finally i got it working including the YM contract that is running smoothly on my screen!

Sierra has alot of options but the interface is not that nice. Who cares if your trading the way like your plan. I mean if everything is set properly you don't have to change anything.
Tomorrow i'm going to try your system. I'll let you know how it went.

Regards,

Sebastian

Hi sebastian, just be carefull and start out with a simulator account to get used to this methood, there are still some small weaknesses in this method and i will post a new video i will talk more about those, and how to go around those problems.

Not any big changes but small ones, that will make a big difference.
No method is perfect and this is not execption, so use commen sense in conjuction with the method and you will do great.

With kind regards
Bashir Naimy

 

[santana55]

You almost got it right, lets imagine you want to go short, price breaks the last 20expon ma and you will then look at your 1min chart and wait for a bar to close below that 20expon ma, then look at your 89tick chart and price will be at that time allready have broken the 15expon on the 89tick, what you are looking for is a pullback to the 15expon.
But if the pullback are is above that area that was broken then you cant take it, give it some time until the 15expon on the 89tick moves below that are and then do the pullback.

Always have a the 1min on your side when doing this type of trade, when the 1min is oversold, then wait for your normal pullback.

With kind regards
Bashir Naimy

You refer to the 20 EMA on the 1 min chart. Did you mean when the price closes below the 15 EMA on the 1 min chart?

Then you're saying at that time the price would already be through the 15 EMA on the 89 tick chart and for this kind of trade you are waiting for it to pullback to the 15 EMA on the 89 tick with the 1 min on your side and then go short for a quick scalp?

Following the quick scalp you would then wait for the regular system trade as part 2 of the trade?

 

[santana55]

Another tip for those who are trying out this method, i will soon a new video about a change in the rule.Not a big change but a very good one that will keep you out of trouble.

I told that when 10m is up and 30m is up , then you can dissregard the 3min stoch.

What i suggest and i see that this happens alot with this jittery marked, when going short this way, follow the rules as you would normaly.

But when going long, always make sure the 3min stoch is on your side, even if the 10min
and the 30min is going up, i see that many times the retracemtn is a failed one, when 3min is against you, espescially when using the whilder's moving average.

When marked is going lower,you can go short and do a retracement when 10min is going lower and 30min is going lower.Then you can dissregard the 3min.As normaly

When marked is going down and only 10min is going down and not the 30min then make sure that the 3min is on your side , as normaly.

When marked is going up and 10min is up and 30min is up. then always make sure that 3min is always with you.(the new rule)

When marked is going up and 10min is up and 30min is down , then always make sure that the 3min is with you.As normaly.


ALot of repetting i think, but i want to make sure everybody gets this, this will help you stay away from those failed retracemtn that i know a couple of you might have taken.

IN the new video i will talk more about this and give explanations.

With kind regards
Bashir Naimy

In your rules when only the 10min was going down (30min and 3min not on your side) wasn't ok to still sell on a retracement to the 50 EMA on the 1 minute chart?

 

[bnaimy]

You refer to the 20 EMA on the 1 min chart. Did you mean when the price closes below the 15 EMA on the 1 min chart?

Then you're saying at that time the price would already be through the 15 EMA on the 89 tick chart and for this kind of trade you are waiting for it to pullback to the 15 EMA on the 89 tick with the 1 min on your side and then go short for a quick scalp?

Following the quick scalp you would then wait for the regular system trade as part 2 of the trade?

Hi santana, i am not refering to the 20ema on the 1min, if you read carefully i wrote wait for the last 20ema to be broken.There is no 20ema on a 1min at all its a 15ema there. You have to excuse me if i was not clear there .

Ill try to explain again.

First before looking to go short, wait for price to break the last 20ema, by that i mean that all the 20ema on all charts must have be broken before you are allowed to think short. So 20ema on the 3min+10min+5min+30min must be broken before you are allowed to think short.

When that is done, you look at your 1min chart and wait for a 1min bar to close below that last 20ema that was broken.

When that is done, then look at your 89TICK chart, by that time the 15ema on that chart is allready broken, so what you wait for is price to do a pullback to the that same 15ema line on the 89TICK chart.

You can put a sellstop 5ticks below it, that way you fill get that short.
ALways make sure the 1min is with you when doing this, when the 1min is going back up, then you can do your normal pullback to the 15ema on the 1min chart.

You are allowed to take a short to the 50ema if the 10 is down and 30 is up and 3 is up.
Only thing is that you must make sure that by the time you get your 50ema pullback , then be carefull and make sure the 10min is still with you, if you see that the 10min is going up while you are waiting forthe retracemtn, then you are not allowed to take that trade, most likely it will break above and marked will find a different direction.

I hope this was understandeble, if not let me know and i will try to add a little video to illustrate this .

And yes, after the first quick scalp you do the second normal retracment trade as you would normaly do.

With regards
Bashir Naimy