Using MiniDow Dayraider Upgrade

[mikez]

Today was my first real money trade using this upgrade. I took about a week to follow the market using the new system and today was the first real money day. I would say it worked nicely. I traded only with 2 contracts. First set up today i took at 10:57am, long at 8998 and sold at 11:29am at 9034, for a quick 30 points. It was a nice set up. I used Stuards Time, and price dowbehavior methodology. Min dow cash also had a nice positive deviation set up. It was a beautiful trade.
And the second good trade was at 1:32pm ET, it formed double bottom on macd, and time/price, dow behaviors came handy. My stop loss was about 5points below my entry, right below green line and white dots.
Here are some charts of those set ups.

Let's see what happens tomorrow.

 

[pedro01]

Just an observation.

If this thread is intended to put minds at ease, you would be better off not disabling the feature in Tradestation that shows trades on the chart. It's on by default.

Showing this information proves 2 things:
1 - That you actually made the trades
2 - That you didn't make another bunch of losing trades you decided not to discuss

It'll also save you from having to put the words "Buy" and "Sell" on the chart

Any chance ?

 

[timsk]

Hi Mike,
Pedro's advice is very sound, IMO. A friendly word of advice if I may . . .
As a new member, there will be those who will look on you with some suspicion, especially if you claim to do really well using the Dayraider upgrade - as supplied by Stuart who is a colourful, but controversial vendor. Therefore, anything you can do to add credibility to your trades will help to shield you from those who would otherwise conclude that you're here merely to scam and pump Stuart's services. Following Pedro's suggestion will go some way towards keeping his critics at bay. I shall follow your progress with interest!
Welcome to T2w!
Tim.

 

[leovirgo]

Buy Sell strategy entries on TS mean nothing. How can anyone be sure that those orders are

i) real trades
ii) based on any particular method/strategy.

Its easy to write two lines strategy that works for just the day and put that entries/exits on a chart. Easy peasy. Statements of a live account are by far the most reliable evidence.

On the other hand, post-market analysis of the market can also be a good indicator as to how the method works, if its done consistently.

I have no other intention here other than just to mention the validity of the use of entry exit marks on TS chart.

 

[leovirgo]

This used to be my system (called LSS range ) but I do not use it anymore. It produced a very nice long trade yesterday.

 

[mechanicaldaytrader]

Congrats Mike on your trading....

As a fyi, Mike did not execute his trades via Tradestation Securities - that's why the trade entry arrows did not show up on his charts. Hopefully Mike can get a screen capture from yesterday's trading activity from the broker he used and post it on this thread some time today.

Keep it up Mike!

Stuart K.

 

[mikez]

Boys, i'm new to this thread and new to TS. I use OpenECry to get my orders in. For future, i'll make sure some how proof my buys and sells.

 

[mikez]

Another great day using Upgraded MiniDow Dayraider,

Traded with 1 to 3 contracts and was up $749 for the day. It's getting easier to see the trades. Here are few trades, on first I got in a bit early but it still worked out good. MACD was coequal, my stop loss was at dotted white line, my first target was as soon as the red line dropped, and i let the other two stay in a bit longer. Here are the charts and the entry orders. So far I'm pleased with this upgrade, that's three days and about $1,200 with only few contracts. I'm not getting too excited yet, i want to see if i can do this for a month and finish in the green most of the days. Buying long seems to be much easier than seeing short entry, but we'll see. Paka

 

[timsk]

Hi Mike,
What are the issues / problems you're having trading short?

 

[mechanicaldaytrader]

Hey Tim; he's been coached to learn and do one thing at a time...he's practicing and executing long entries and doing it well, I might add. In time, he'll get the shorts...there is only so much that can be imparted in a teaching mode and only so much that can be absorbed and executed well.

Good job Mike! Here's this morning's short setup after the 8:30 am announcement.. Those that are familiar with the methodology will see why.

This shows the last part of the DayRaider Upgrade, called the "DayRaider Toy" (the chart at the top). It moves pretty fast (a tick chart) but catches all the institutional stops before, during and after the market turns. There's a couple mechanical longs and shorts. Mike is going to be using the long mechanical reversals if he wants to, otherwise he just stick to using the bottom chart shown (DayRaider Upgrade).

The Mechanical Day Trader

 

[mikez]

Another good day

Today (Friday) was much better day. Yesterday i had my behind handed to me b/c i played with "new toy" too soon without getting my eyes use to seeing it in real time. Like any "toy", if you don't know how it works, you'll get heart.
Today i traded with 3 contracts. By the way, i didn't tell you guys that i trade of 19" inch monitor laptop and I'm doing it at work. It's kind of hard b/c i have to click between Tradestation and my OpenEcry entry platform. But i trade how i can at this time, and maybe one day I'll be able to trade from home with couple of monitors.

Here is the trade for the day. Bought 3 at 10:06 at 9097, then sold one at a time. First sold at 9110, second sold 9117 and third sold at 9161.

 

[mikez]

Ended the day with $950 in the green. So far I love this platform. I've tried many trading platforms, and so far this one has been almost too good to be true. My goal for August is $20,000. I'll try to stick to 2 to 4 contracts. I'll keep you posted. And i'll do a snap shot of my August total at the end of the month. Thanks for reading.

 

[pedro01]

Well done Mike !

 

[mechanicaldaytrader]

$1,000 dollars a day keeps the _______ away...

Kudos Mike! Patience, good money management and use the charts to eliminate "fear" and "greed" in trading...take what the market gives you, use the Dow Behaviors and keep your entries between S2 and R2, with Dow Behaviors at the edges of each trade.

Keep up the good work and enjoy your new "TOY", sorry for the first day follies, you'll love TOY the more you use it....and it never needs batteries!

Stuart K.
The Mechanical Day Trader

 

[timsk]

My goal for August is $20,000. I'll try to stick to 2 to 4 contracts. I'll keep you posted. And i'll do a snap shot of my August total at the end of the month.

Hi Mike,
I congratulate you on your success so far, applaud your ambition, but question the wisdom of announcing your goals to the likes of us lot on T2W! Assuming 20 trading days for the month and that you trade 4 contracts, you'll need to make a minimum of 50 points per day to achieve your target. Given that it's still early days using Stuart's new upgrade, plus the fact that you're trading at work, I wonder if perhaps you're being over optimistic? These boards are littered with traders trying to make a set dollar amount in a fixed time period. I can't remember the last time anyone hit their target. Perhaps I'm just conforming to type and being a negative 'glass half full' Brit'? Quite possibly. ;-)
Anyway, I for one will be very impressed if you achieve just 25% of your target. Good luck!
Tim.

 

[mechanicaldaytrader]

July 30th ten minute chart analysis

Hi Mike,
I congratulate you on your success so far, applaud your ambition, but question the wisdom of announcing your goals to the likes of us lot on T2W! Perhaps I'm just conforming to type and being a negative 'glass half full' Brit'? Quite possibly. ;-)
Anyway, I for one will be very impressed if you achieve just 25% of your target. Good luck!
Tim.

Yes Tim, there continue to be SOME big differences between Brits and Yanks.

I suggest you open up a ten minute chart on Friday's trading and plot these reversal points on the Dow Futures.

[1] DOW AM LOW 9072 (8:30 am announcement, Globex session)
[2] AM HIGH 9173
[3] AM SELL OFF 9116
[4] PM EARLY TOP 9160
[5] PM EARLY SELL OFF 9124
[6] PM FINAL HIGH 9177
[7] SELLOFF TO CLOSE 9095

Attached is a spreadsheet with the 7 points and the 6 trades between those 7 points. Assuming a DayRaider Upgrade user was able to enter successfully HALF of those trades and subtracting 5% for slippage/commission (no one can expect to get in at the highest high or the lowest low)...if the trader entered 3 contracts at each trade entry point, the net profit is over $2,600. You can lower the trader's efficiency to 33% and still be at $1,000. Since Mike is trading while at the office working for THE MAN...a 33% efficiency is probably realistic.

July 30th was an average day, typically Mondays are monster trading days, with bigger ranges between each key reversal point in the morning and afternoon.

Also, considering that Mike catches the end of the Globex to Dow Cash trade and holds on, there is typically 150 points per contract in the first two major reversals most every morning. (Mike can just trade the Dow Cash Open reversal and the reversal that follows that and he's done for the day. )

So Tim, if Mike just keeps executing as well or better than he has in his first week, he probably can hit his $1,000 profit objective by 10:30 or at the latest 11:30 am most every day.

This is all theoretical, after the cars crashed analysis; but the methodology can be backtested and, once learned, used realtime to grasp just how profitable daytrading the Mini Dow is.

Cheers!

The Mechanical Day Trader

 

[timsk]

Yes Tim, there continue to be SOME big differences between Brits and Yanks.

Ain't that the truth!
:cheesy:
Thanks for the comments - I shall follow Mike's progress with interest.

 

[vrtrop22b]

congrats MikeZ. Could you possibly post the daily statements from your last 3 days. Of course blank out your personal info. Again congrats.

 

[mikez]

Vrtrop22b, i'll post it this week. I'm looking forward to this week and month.

 

[mikez]

Red day.

I started the day in green, was up $500 on my first entry, but got so greedy and was thinking i'll get my $1000 on my first entry, lost it all b/c i broke the rules and moved my stops back too low. Ended the day in red $216. I was really busy at home and then at work, not a good way to have a clear head when trading. The setups where there as dayraidor indicated but for some reason didn't take the trades. The long setups look very easy and work almost 100% of the time, i just don't have the shorting part in yet, and that's what's kicking my behind right now, still. Need to take a little breather and get back to it tomorrow. Thanks for reading.