Here is the way i daytrade the Emini-YM

[bnaimy]

Lost a few hard earned, thinking they were retracements (when there were none), market just kept turning direction took out my stops twice and then I packed for the day.
I hope others did not loose money.
Its wiered as VIX seemed to be low but still very irratic market (STOCKS) - may be i should trade futures !
I dont know.
Not happy .

joker

Hey m8, the futures where no better, same ****, irratic as well and changing direction all the time.

And when it did look like a possible retracement on the 1min or even the 89tick chart, it never dide retraced and just fell like a rock, and then it starts to go either go sideways or just go all the way back up.

Junk day, maybe it was because Paulson and Obama was talking maybe and the new home sales where really bad.

With kind regards
Bashir Naimy

 

[smoodi]

davidnorman

"Hi Shay..is Sc sierra charts, sorry to be dim...also what data feed do you use and what is the cost..
Many Thanks Dave"

Sorry havent been on the forum since my last post. Yes SC is Sierra chart and as i am only using Bashirs method to trade currency pairs i get SCs data feed for real time and historical forex for £17/month which is dirt cheap. SC offer about 24 currency pairs. I have given up on the eminis and am managing well with the currency pairs. Bashirs method works a treat.The markets are generally a lot less volatile and they trend much more IMHO. I have set SC up with about 16 chartbooks each one for a currency pair and just scan tthrough them looking for a setup (eg all time frames for GBP/JPY or EUR/USD or whatever are either above or below the 89ema and then go long or short and scalp the trend.
I am using the "etoro" demo platform which is simple for country boys like me and i have started to make consistent profits and have not had a losing day for the last ten days. ( My early attempts till i got used to the platform and the way the markets move were not good. I had my best day today and have taken just over two grand so far. Currently waiting for the Far East and Aus to open. Can trade 24 hours a day if i want so can pick and choose when to trade.
I rekon when I am ready to go live i will continue to use SC as i like their charts and will look for a broker who will give me direct access entry to the exchanges without having a broking desk in between. I believe that "etoro" operates as an intermediary and take the other side of my trades and they fade the spread.depending on which way the market moves. Thus in a falling market the sell price leads the market by 4-5 pips never mind their spread as aswell.....visa versa in a rising market (Bit like spread betting companies......sharks!)
Has anyone else taken a look at currency pairs and checked out how often at least two or three pairs can be found to trend and how often price apprears to move above or below all resistance or support on Bashirs chart time frames. I recommend taking a squint when you are at a loose end.

Regards and best wishes

Shay

 

[forexsniper]

Bashir - Many thanks for the latest video. Really appreciate the time & effort in sharing this. From a quick glance at it, it looks like I need to upgrade my charting software. My current one doesn't do the new moving average, value areas & doesn't support tick charts!!!

Anyone out there using Sierra Charts who can help me answer a few basic questions (and apologies if these questions sound dumb...but this is really different from my current charting software)? My current charting software is from my broker, so its easy to manage. I fund my account with them and use their software to do my trades. With Sierra Charts it appears to operate differently from this:

1. Sierra Charts only provide the charting software...I need to use one of their list of brokers, eg IB, where I actually open an account & fund my account, correct? Anyone recommend a good broker who can operate with Sierra Charts...I live in Australia?

2. I've downloaded the Sierra Charts software. I now need to purchase usage time from Sierra Charts through one of their packages, right? I've got no idea which package level to pick. I want to basically trade YM futures and from looking at Shay's post above, I want to explore the option of trading currencies (at least I can find something there closer to my timezone).

3. Once I open an account with a broker and set it up with Sierra Charts, does that mean I can trade through Sierra Charts and the trades get sent through to my broker?

Many thanks.

sunnywan

 

[forexsniper]

Sorry havent been on the forum since my last post. Yes SC is Sierra chart and as i am only using Bashirs method to trade currency pairs i get SCs data feed for real time and historical forex for £17/month which is dirt cheap. SC offer about 24 currency pairs. I have given up on the eminis and am managing well with the currency pairs. Bashirs method works a treat.The markets are generally a lot less volatile and they trend much more IMHO. I have set SC up with about 16 chartbooks each one for a currency pair and just scan tthrough them looking for a setup (eg all time frames for GBP/JPY or EUR/USD or whatever are either above or below the 89ema and then go long or short and scalp the trend.
I am using the "etoro" demo platform which is simple for country boys like me and i have started to make consistent profits and have not had a losing day for the last ten days. ( My early attempts till i got used to the platform and the way the markets move were not good. I had my best day today and have taken just over two grand so far. Currently waiting for the Far East and Aus to open. Can trade 24 hours a day if i want so can pick and choose when to trade.
I rekon when I am ready to go live i will continue to use SC as i like their charts and will look for a broker who will give me direct access entry to the exchanges without having a broking desk in between. I believe that "etoro" operates as an intermediary and take the other side of my trades and they fade the spread.depending on which way the market moves. Thus in a falling market the sell price leads the market by 4-5 pips never mind their spread as aswell.....visa versa in a rising market (Bit like spread betting companies......sharks!)
Has anyone else taken a look at currency pairs and checked out how often at least two or three pairs can be found to trend and how often price apprears to move above or below all resistance or support on Bashirs chart time frames. I recommend taking a squint when you are at a loose end.

Regards and best wishes

Shay

Hi Shay,

Since your last post, I've explored setting up some currency pair charts, just to take a look. Main reason is I'm just after something which is abit more timezone friendly for me.

I'm still learning Bashir's trading methods and have been doing this on the YM to date, I've never traded currency pairs before, so was wondering if you could help with a few basic questions:

1. For an account size of say $10k, do you have any rules of thumb about the Amount to buy/sell each time (eg say AUDUSD).

2. How many points do you aim for with each trade, eg for YM, Bashir aims for 10 and 30 points? What has been working well for you - as you've obviously been getting some good hit rates with your current profit targets.

3. How much do you risk (points wise) per trade? Eg, where do you place your stops?

4. I assume that if say AUDUSD goes up by 0.001, then basically if I went long with an Amount of say 100,000, I'd make 0.001 * 100,000 = $100?

Many thanks.

 

[YMoca]

What a weird day, not even 1 single trade today, maybe i should work on just going marked when i see price breaks and stays below

Hopefully the rest of you dide alot better then me today.

With kind regards
Bashir Naimy

Yeah you got that right. Didn't take any trades either..........until........

At the end of the day I saw a chart pattern develop on a 5sec chart that I thought should work out. Lower risk entry (10ticks) but by then the market was really jumping around all over, and of course it didn't work out. Should have known better......

Must learn to sit on my hands when I get bored!

Chris

 

[smoodi]

Sunnywan

I have basically used Bashirs wisdom and setup and have applied it to currencies. I am currently using a pretty primiive trading paltform "etoro" (google it and check it out) which allows me a leverage of up to 400:1 and i could tecnically start with $500. The minimum no of currency units purchased is 10,000 up to a maximum of 200,000. The more you fund your account with the more units you can purchase. (Bigger profir but also big losses if the trade goes against you).

What I have been doing is relying on the moving averages and less on the stochs but they are useful to confirm the strength of a move. Bashir has stressed a fundamental which I have stuck to and it has stood me in good stead. "Long above the 89ema and short below never visa versa" and all timeframes 30/10/3/1 above support or resistance when the trade is taken. I am looking for the start of a trend or a strong sequence of candles moving in any direction. I can only buy at market with etoro's platform and i dont use their default stops although one is in place in case i loose my internet connection. However their closest stop is too rich for me ......neither do i use their limit. Basically my stops are very close to the market price. If i get he direction wrong I am out pretty much instantly. If the direction is confirmed i will go with the candles. I cant be much more scientific than that other than it involves feel and watching the price rate of change sometimes I will scalp a $10 profit or the move is strong and i will run with it till a bearish candle appears or price rise slows....then I close position and watch the charts for retracement and another entry point. Once the trend has stopped by moving below the 50 ema ( thinking of dropping that to the 30ema) i will look for another currency pair. So far so good and I am feeling confident that this can work.

You said
"4. I assume that if say AUDUSD goes up by 0.001, then basically if I went long with an Amount of say 100,000, I'd make 0.001 * 100,000 = $100?"

Spot on . I tend to trade with 100,000 units for he moment and i dont like between 9-12pm (Wall street shuts and Tokyo opens) More volatility i suspect because less liquidity. Think only Aus/NZ markets open.
Hope this is of help

PS Bashir have you cheked out currency pairs yet

Shay

 

[WillemDrees]

1. Sierra Charts only provide the charting software...I need to use one of their list of brokers, eg IB, where I actually open an account & fund my account, correct? Anyone recommend a good broker who can operate with Sierra Charts...I live in Australia?

2. I've downloaded the Sierra Charts software. I now need to purchase usage time from Sierra Charts through one of their packages, right? I've got no idea which package level to pick. I want to basically trade YM futures and from looking at Shay's post above, I want to explore the option of trading currencies (at least I can find something there closer to my timezone).

3. Once I open an account with a broker and set it up with Sierra Charts, does that mean I can trade through Sierra Charts and the trades get sent through to my broker?

Many thanks.

sunnywan

Hey sunnyman, not being an a-hole here, but the broker part has been well covered in this thead, so just take your time and go thru the story, it's usefull and fun.
But just to show you i'm a nice guy i'll give it a shot anyway. :cheesy:

1: To get a datafeed for Sierra (SC) you need either a compatible broker or get a more expensive subscription thru SC themselves. Infinityfutures is mentioned by Bashir as a good broker option. Their feed is compatible with SC. You can testdrive them.

2: Also mentioned by Bashir, package #3 will do fine, he had #4 but they've just rearanged the numbers, so #3 is the one you need. You can pay thru Paypal, non-recurring. Good stuff..

3: If you use SC, you still need a tradingplatform to trade from. You can trade from the charts i believe with SC and the right package, but not to usefull, tradingplatform is much better. So you don't NEED to have a compatible broker. If you're happy with your current one, get the feed subscription thru SC and use the charts next to your brokers platform.
Btw. the forex feed comes with SC's package #3, so if you give forex a go before the YM, you can just get the #3 and trade thru your current broker if they support forex.

G'day m8!

:smart:

 

[protoss]

Many Thanks Bashir for all the effort and sharing this strategy,

Joseph

Finaly done, took some time to upload this sucker.

This is a video contains the following:

1:What chart to use and what timeframes.
2:What indicators to use and moving averages.
3:Trading rules
4:How to use the trading rules
5:And example.

You must download to file from the link i have given right below and
then watch it on your pc its around 220 mb, and its compresses to take as little as possbile space.

If you guys have any questions please let me know and i will be more the happy to answer them.

The rules will in a few days be posted in a wordfile for those who would like that.

I have also attached a pdf file that explains in more detaljes on what Volume value are is and how it acts and works.

So i highly recommend you guys read that as well.


Here is the link to the video:
capture-2.avi on MyOtherDrive


With kind regards
Bashir NAimy

ps:now of to get some sleep

 

[Jordao]

Let me ask you something:

I am a Brazilian trader and trade only our mini index (WINZ08). I have read this post and will try the setup, but there is one thing that I would like to know.

Our market is not a continuous market, and it is very usual that we have big gaps at the oppenning. Do these longer EMA (89, etc) loose their functionality? Do I have to wait for some candles to roll and get back their confiability? Or the setup is ok to be used even with the gaps oppenning?

Regards

Antonio

 

[bnaimy]

Bashir - Many thanks for the latest video. Really appreciate the time & effort in sharing this. From a quick glance at it, it looks like I need to upgrade my charting software. My current one doesn't do the new moving average, value areas & doesn't support tick charts!!!

Anyone out there using Sierra Charts who can help me answer a few basic questions (and apologies if these questions sound dumb...but this is really different from my current charting software)? My current charting software is from my broker, so its easy to manage. I fund my account with them and use their software to do my trades. With Sierra Charts it appears to operate differently from this:

1. Sierra Charts only provide the charting software...I need to use one of their list of brokers, eg IB, where I actually open an account & fund my account, correct? Anyone recommend a good broker who can operate with Sierra Charts...I live in Australia?

2. I've downloaded the Sierra Charts software. I now need to purchase usage time from Sierra Charts through one of their packages, right? I've got no idea which package level to pick. I want to basically trade YM futures and from looking at Shay's post above, I want to explore the option of trading currencies (at least I can find something there closer to my timezone).

3. Once I open an account with a broker and set it up with Sierra Charts, does that mean I can trade through Sierra Charts and the trades get sent through to my broker?

Many thanks.

sunnywan

Hi Sunnywan, here are some answers to your questions m8

1:I recommend you get infinity futures, i am using them myself and i am very satisfied with them, send me a email to bashir.naimy@gmail with your contact info and i will have my broker contact you, he might give you a better roundtrip price then normaly.
Sierracharts are owned by infinity futures as well i belive.

2:For sierracharts i recommend you use package level 3, u dont need anything more then that.Cost around 26usd pr month i belive.

3:When you open an account with a broker that sierracharts support, you can then do the trades directly on the charts, but i personaly prefer doing it on their own transact platform , much better.

With kind regards
Bashir Naimy

 

[bnaimy]

Yeah you got that right. Didn't take any trades either..........until........

At the end of the day I saw a chart pattern develop on a 5sec chart that I thought should work out. Lower risk entry (10ticks) but by then the market was really jumping around all over, and of course it didn't work out. Should have known better......

Must learn to sit on my hands when I get bored!

Chris

Thats the biggest problems i also have m8,getting borred just gets you into trouble.
Its a good thing i have people around me that i can talk to when i get borred

But yesterday was just a weird day, was 3 possible trades but not 1 single ofthem retraced.

Hopefully today will be better.

With kind regards
Bashir Naimy

 

[bnaimy]

Sunnywan

I have basically used Bashirs wisdom and setup and have applied it to currencies. I am currently using a pretty primiive trading paltform "etoro" (google it and check it out) which allows me a leverage of up to 400:1 and i could tecnically start with $500. The minimum no of currency units purchased is 10,000 up to a maximum of 200,000. The more you fund your account with the more units you can purchase. (Bigger profir but also big losses if the trade goes against you).

What I have been doing is relying on the moving averages and less on the stochs but they are useful to confirm the strength of a move. Bashir has stressed a fundamental which I have stuck to and it has stood me in good stead. "Long above the 89ema and short below never visa versa" and all timeframes 30/10/3/1 above support or resistance when the trade is taken. I am looking for the start of a trend or a strong sequence of candles moving in any direction. I can only buy at market with etoro's platform and i dont use their default stops although one is in place in case i loose my internet connection. However their closest stop is too rich for me ......neither do i use their limit. Basically my stops are very close to the market price. If i get he direction wrong I am out pretty much instantly. If the direction is confirmed i will go with the candles. I cant be much more scientific than that other than it involves feel and watching the price rate of change sometimes I will scalp a $10 profit or the move is strong and i will run with it till a bearish candle appears or price rise slows....then I close position and watch the charts for retracement and another entry point. Once the trend has stopped by moving below the 50 ema ( thinking of dropping that to the 30ema) i will look for another currency pair. So far so good and I am feeling confident that this can work.

You said
"4. I assume that if say AUDUSD goes up by 0.001, then basically if I went long with an Amount of say 100,000, I'd make 0.001 * 100,000 = $100?"

Spot on . I tend to trade with 100,000 units for he moment and i dont like between 9-12pm (Wall street shuts and Tokyo opens) More volatility i suspect because less liquidity. Think only Aus/NZ markets open.
Hope this is of help

PS Bashir have you cheked out currency pairs yet

Shay

Hey Shay, not checked out currency yett, but i am at the moment thinking of getting into the Grains marked, but will definitly look into that marked as well.

THe more the marrier

With kind regards
Bashir NAimy

 

[bnaimy]

Let me ask you something:

I am a Brazilian trader and trade only our mini index (WINZ08). I have read this post and will try the setup, but there is one thing that I would like to know.

Our market is not a continuous market, and it is very usual that we have big gaps at the oppenning. Do these longer EMA (89, etc) loose their functionality? Do I have to wait for some candles to roll and get back their confiability? Or the setup is ok to be used even with the gaps oppenning?

Regards

Antonio

Morning gaps should not worrie you, it will not affect the method, just dont trade the first 10-15 mins of marked opening, because of marked is very volatile.All the movingaverages have a funtion, so they will always have a roll.

With kind regards
Bashir Naimy

 

[Jordao]

Morning gaps should not worrie you, it will not affect the method, just dont trade the first 10-15 mins of marked opening, because of marked is very volatile.All the movingaverages have a funtion, so they will always have a roll.

With kind regards
Bashir Naimy

Thanks for the reply. I am sorry to be asking this (maybe someone have done this question before) but the topic is too big and I didn´t found the explanation.

Since we are in a Bear market, how do you plan your short trades? In your inicial post you detailed the long entry, but not the short.

Thanks again

Antonio

 

[bnaimy]

Thanks for the reply. I am sorry to be asking this (maybe someone have done this question before) but the topic is too big and I didn´t found the explanation.

Since we are in a Bear market, how do you plan your short trades? In your inicial post you detailed the long entry, but not the short.

Thanks again

Antonio

I plan my short trades in the similer matter as i plan my longs.
Nothing different there, i am just more carefull and looking alot closer to the 3min stochastics and never go against it.

In my initial post i wrote my long entry, reason i dide not write my short entry is because you just do the the opposite when going short.

And i also wrote that in my initial post.

But that is a old method and have a couple of big weaknesses that i have improved on, so that is no longer a method i am using .

The new methods adress some of those weaknesses.

WIth kind regards
Bashir Naimy

 

[Jordao]

I plan my short trades in the similer matter as i plan my longs.
Nothing different there, i am just more carefull and looking alot closer to the 3min stochastics and never go against it.

In my initial post i wrote my long entry, reason i dide not write my short entry is because you just do the the opposite when going short.

And i also wrote that in my initial post.

But that is a old method and have a couple of big weaknesses that i have improved on, so that is no longer a method i am using .

The new methods adress some of those weaknesses.

WIth kind regards
Bashir Naimy

Thanks again.

Did you posted your new methods here?

Regards

Antonio

 

[vit007]

happy trading

 

[Jordao]

Hi guys. Need help here. How do you change time zone on sierra charts .,its 11.10 AM in canada but I have past 4 PM on my charts
Thanks
Vit

Go to Global Settings > Data/Trade Service Settings

You will find on the right an area called Data Settings where you can adjust you time zone.

Regards

Antonio

 

[vit007]

Go to Global Settings > Data/Trade Service Settings

You will find on the right an area called Data Settings where you can adjust you time zone.

Regards

Antonio

Thanks and heppy trading.
Vit

 

[rob25]

hi bashir im using ix index charts wich are pretty good and ive setup all charts like your video .the only thing with ig is there is no tick charts, just 1 second chart can you recommend something else i could use instead of your 89 tick chart??

thanks,great 2nd video by the way.