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Introduce yourself here!
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Introduce yourself here!

  #3681 (permalink)
Trading Apprentice
Calliope Queensland Australia
 
Futures Experience: Intermediate
Platform: Tradestation
Favorite Futures: Forex
 
tidy8's Avatar
 
Posts: 3 since Jan 2013
Thanks: 0 given, 4 received

--------------------------------------------------------------------------------

Hi All,

I'm a newbie to this forum.

I've been studying for the past 5 years and trading the last 2.
I trade forex and have only recently changed from MT4 to Tradestation.
I have pruchased alot of Crap trading systems in the past and blown up hundreds of demo accounts.
I like most of you have blown up a live account or two as well.

Like most of the old dogs around this forum.
My advice to Newbie Traders is:

1) Don't fight the market.
2) Don't go against the trend.
3) Stand back to see the big picture. (Use higher timeframes "imagine learning to walk looking through binoculars")
4) Let your winner run and cut your losses early.
5) Never ever trade without a stoploss.

6) If you had the "Holly Grail" trading system, why would I give it away for $99-400,
to thousands of people.
If we all had access to the grail, In a perfect world we would all be Billionaires,
and there would be No Disease nor Poverty.
7) Don't buy repackaged or High Hyped Systems with marketing teams flogging over optomized
algorithems.

8) The only way to find a system that works, is to work with what works for you.
Look at the market and see what it is telling you.
Then apply different indicator that tell you the same thing.
Make your own rules and stick to them.
Let it evolve.

9) Belief/Trust in what your indicators are telling you, is the key to a successfull system.
10) Knowledge is power, Take free trading courses offered by forums and educate yourself about the
markets,effects of outside influences on the markets, learn how indicators work and what they are telling
you.

The first system I made used no indicators at all.

I would simply open a currency chart in 5min and look at the opening market.
I'd draw two trend lines 5 pips above and below the range of the bars.
From 2 hours prior (to the start of the 24 hour day) until 2 hours into the start of the day.

From here I would wait for the market to tell me where it wanted to go,
place longs above the top of the range and shorts below the range.
I'd chase the trade for as long as it went, applying a trailing stop at half the previous bar.
Most days it had 65-70% success.

Try it yourself it doesn't matter what pair.
It works.


Currently My strategy is a low to medium time frame trending strategy and I am constantly in the market.


"May the pips be forth coming,
the drawdowns low and infrequent,
In your trading for 2013."
TIDY8

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  #3682 (permalink)
Trading Apprentice
france
 
Futures Experience: Advanced
Platform: Sierra
Favorite Futures: silver
 
Posts: 1 since Sep 2012
Thanks: 3 given, 0 received

Hi

Hi Mike,

Thanks for the great forum.I trade options as a longer term strategy for 6 years now .Have just recently started scalping trading futures about 6 months now using orderflow strategy.

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  #3683 (permalink)
Elite Member
Los Angeles
 
Futures Experience: Beginner
Platform: TradeStation / NJ
Favorite Futures: Futures
 
afranco562's Avatar
 
Posts: 131 since Sep 2012
Thanks: 404 given, 133 received



tidy8 View Post
--------------------------------------------------------------------------------

Hi All,

I'm a newbie to this forum.

I've been studying for the past 5 years and trading the last 2.
I trade forex and have only recently changed from MT4 to Tradestation.
I have pruchased alot of Crap trading systems in the past and blown up hundreds of demo accounts.
I like most of you have blown up a live account or two as well.

Like most of the old dogs around this forum.
My advice to Newbie Traders is:

1) Don't fight the market.
2) Don't go against the trend.
3) Stand back to see the big picture. (Use higher timeframes "imagine learning to walk looking through binoculars")
4) Let your winner run and cut your losses early.
5) Never ever trade without a stoploss.

6) If you had the "Holly Grail" trading system, why would I give it away for $99-400,
to thousands of people.
If we all had access to the grail, In a perfect world we would all be Billionaires,
and there would be No Disease nor Poverty.
7) Don't buy repackaged or High Hyped Systems with marketing teams flogging over optomized
algorithems.

8) The only way to find a system that works, is to work with what works for you.
Look at the market and see what it is telling you.
Then apply different indicator that tell you the same thing.
Make your own rules and stick to them.
Let it evolve.

9) Belief/Trust in what your indicators are telling you, is the key to a successfull system.
10) Knowledge is power, Take free trading courses offered by forums and educate yourself about the
markets,effects of outside influences on the markets, learn how indicators work and what they are telling
you.

The first system I made used no indicators at all.

I would simply open a currency chart in 5min and look at the opening market.
I'd draw two trend lines 5 pips above and below the range of the bars.
From 2 hours prior (to the start of the 24 hour day) until 2 hours into the start of the day.

From here I would wait for the market to tell me where it wanted to go,
place longs above the top of the range and shorts below the range.
I'd chase the trade for as long as it went, applying a trailing stop at half the previous bar.
Most days it had 65-70% success.

Try it yourself it doesn't matter what pair.
It works.


Currently My strategy is a low to medium time frame trending strategy and I am constantly in the market.


"May the pips be forth coming,
the drawdowns low and infrequent,
In your trading for 2013."
TIDY8


Hi,
Thanks for that great advice. I am new to trading and would like to understand in a little more in detail how your following trading setup works:

"I would simply open a currency chart in 5min and look at the opening market.
I'd draw two trend lines 5 pips above and below the range of the bars.
From 2 hours prior (to the start of the 24 hour day) until 2 hours into the start of the day.

"From here I would wait for the market to tell me where it wanted to go,
place longs above the top of the range and shorts below the range.
I'd chase the trade for as long as it went, applying a trailing stop at half the previous bar.
Most days it had 65-70% success."

Could you explain it in more detail? "It does sound very clear and to the point but just trying to get more info on what you look for in the above setup. " Thank you in advnace!

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  #3684 (permalink)
Trading Apprentice
Calliope Queensland Australia
 
Futures Experience: Intermediate
Platform: Tradestation
Favorite Futures: Forex
 
tidy8's Avatar
 
Posts: 3 since Jan 2013
Thanks: 0 given, 4 received


afranco562 View Post
Hi,
Thanks for that great advice. I am new to trading and would like to understand in a little more in detail how your following trading setup works:

"I would simply open a currency chart in 5min and look at the opening market.
I'd draw two trend lines 5 pips above and below the range of the bars.
From 2 hours prior (to the start of the 24 hour day) until 2 hours into the start of the day.

"From here I would wait for the market to tell me where it wanted to go,
place longs above the top of the range and shorts below the range.
I'd chase the trade for as long as it went, applying a trailing stop at half the previous bar.
Most days it had 65-70% success."

Could you explain it in more detail? "It does sound very clear and to the point but just trying to get more info on what you look for in the above setup. " Thank you in advnace!

Hi,

Please find attached screenshots of how I trade this.
Note the Trend lines drawn on the screenshot.
Green go long and place your stop at half the length of the previous bar as the trade progresses.
Red go short and "as above".

You will notice that I have also traded with the trend.
When it is trending short you can enter and exit shorts after pull backs in the market.
Then as the day progresses.
When the market is trending long then you can enter and exit longs after pull backs in the market.

"As I stated above, do not trade without a Stoploss."
As you can see the abnormally large Bear Candle.
With out a stoploss, your screwed.
Margin on your account will Cruel You.

Another point for new traders.
After a large movement in the market like the above described bar.
The market will usually pull back.
It is generally safe to jump in on a pull back after such a big move.

But I would recommend to new traders to wait 5 to 10 minutes before trading.
As you need to see how the market reacts to the big move.

It may be a big reversal of the current trend, after Economic Data/Natural Disaster news has been released.
If you can check For Red and Yellow Flag News Releases Daily.
These pages are located usually on the home pages of Forex Forums.

Hope this explains it a bit better.

"May the pips be forth coming,
the drawdowns low and infrequent,
In your trading for 2013."
TIDY8

P.S. Trades are not exact as the Historical Trading Software used, makes trades on the close of the bar.
And the trailing stop can not be marked at Half the Previous Bar Exit.
These Trades did not take place.
I opended a sim account to display the trades for educational purposes.

Attached Thumbnails
Introduce yourself here!-start-day.png   Introduce yourself here!-trades-made.png   Introduce yourself here!-preformance-report.png  
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The following user says Thank You to tidy8 for this post:
 
  #3685 (permalink)
Elite Member
New York, NY/USA
 
Futures Experience: Intermediate
Platform: TS 9.1, NT7
Broker/Data: Tradestation , Mirus/Zen-Fire
Favorite Futures: TF CL GC 6E ES FESX, NG, ZN
 
Posts: 9 since Jan 2013
Thanks: 15 given, 5 received

Hello

Greetings -

Glad to join.

-MR11

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  #3686 (permalink)
Trading Apprentice
Sarasota
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 1 since Jan 2013
Thanks: 0 given, 0 received

Noob

Hello

I somewhat of noob to trading. I've been studying and reading the past year. Been trading equities mostly, broke even after the year. Lately I've been getting into trading the ES. I'm looking for an automated strategy that I can implement and make some money while I still have to work at my day job.

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  #3687 (permalink)
Trading Apprentice
Austin, TX
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: options
 
Posts: 1 since Jan 2013
Thanks: 2 given, 0 received

i'm glad i found this place.

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  #3688 (permalink)
Trading Apprentice
Madrid España
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Futuros E-mini S&P 500
 
Posts: 1 since Jan 2013
Thanks: 1 given, 0 received

Hi all

Hi all
Just joining this forum.
I operate only with the analysis of the Spread and Volume.
'll Bring my skills are useful if some trader.
My English is bad, but I will do everything possible to improve it.
Thank you all in advance.

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  #3689 (permalink)
Elite Member
Singapore, Singapore
 
Futures Experience: Beginner
Platform: TWS
Broker/Data: IB
Favorite Futures: Stocks, Futures
 
Posts: 2 since Jan 2013
Thanks: 3 given, 1 received

Hi all,

I'm a complete newbie from Singapore.
I guess that means I don't have any bad habits to unlearn...
Hope to have a good start in my trading education here at futures.io (formerly BMT)!

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  #3690 (permalink)
Trading Apprentice
Lima/Peru
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: Futures
 
Posts: 1 since Jan 2013
Thanks: 2 given, 0 received

Who am I?


Hi BM,

First of all Thank you and congratulations on your website. It is unlike any other I've seen. I got started trading stocks mid 90's when the picking of a 4th grader could do no wrong. Until all unraveled in 2000. Due to my previous winnings, I broke even. They say things come in three. I got divorced, lost my home and lost my job back in 2008. I started trading options with TOS (ThinkOrSwim). Mainly I traded spreads and did fairly well for a couple of years and since I was unemployed, that was my only source of income. One day, on a Thursday morning (a day before expiration day), I was rushed to the hospital and was told I would be out after lunch on the same day. I was put asleep, operated on and woke up Friday at 5 PM. When I got home that evening, I was assigned in all my positions and lost nearly all my trading capital. So I thought "there's got to be a better way to do this".

Then, I found ShadowTraders and fell in love with them. When you trade futures don't have to wake up in the middle of the night thinking what's the next "scandal" that will affect the stock price. You're in and out and the money is in your account at the end of the day. Well, ever since I got assigned, I've had a tough time getting back in the saddle. I find myself frozen when it comes time to pull the trigger. I've been on the simulator for 2 years now without making a penny! I don't know what else to do and I'm at the end of the rope. Don't know how I'm going to pay the rent this month. Believe me, I'd love to be an elite member but money is so tight that can't afford a happy meal at McDonald's.

I went to the US in 1979 (age 23), learned English there, put myself through college, graduated and did very well professionally (6 figure income). I studied electrical engineering and computer science. I worked nearly 20 years as a consultant for myself and for some companies throughout my career. After 28 years of marriage, I lost everything I owned to gain custody of my 13 year old daughter and got it. My daughter (19) and I moved to Lima-Peru two years ago and I really want to make it trading futures. I love it. I love the freedom that it provides. If I could only break that fear.

Thanks for listening,

Celso

p.s.: As soon as I make money and regain my credit worthiness, I'll send you the $50 to become an elite member but until then, I'll keep trying.

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