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FGBL intraday scalping
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FGBL intraday scalping

  #1 (permalink)
Elite Member
Hradec Kralove, Czech republic
 
Futures Experience: Beginner
Platform: NintaTrader 7
Favorite Futures: FGBL, ZB, ZN
 
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FGBL intraday scalping

Hi everyone!

I would like to share with you my trading method, which i use on FGBL. I will post here more screens and rules by the time.

We are what we repeatedly do. Excellence then, is not an act, but a habit.
Aristotle
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  #2 (permalink)
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  #3 (permalink)
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The first of all, i would like to explain you my price graph.

I use 3 range time frame. I was looking for some low time frame and 3 range was the most fiting me, for now. Next indicator is SMA 21, which is show me short trend. Swing indicator is showing me the strenght of trend.

I trade, when SMA 21 is going up or down. I dont trade, when SMA 21 is flat.
I trade, when swings how me relative strenght in market. It means, that market breaking the swings and make candles with closes above/below these swings. I dont trade, when i am not sure about the strenght.
I trade only on candles with close to the direction of my trade.

Later i will post next part of my method.

We are what we repeatedly do. Excellence then, is not an act, but a habit.
Aristotle
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  #4 (permalink)
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The second part of system is Volume MAs.

I use 3 MAs - blue one, which is TEMA with period 4 and base is MIN of last 2 Volume. Black one (bold) is TEMA with period 34 and base is Volume. The second black one (thin) is EMA with period 34 and base is TEMA with period 34 of Volume.

The main thought is, that i look for time, when the blue MA and black (bold) MA is above black (thin) MA AND blue MA is near or above black (bold) MA. If this appear, it means, that in market is high Volume and high Volume means for me high interest and some kind of s/r. That means short term reverse of market.

Volume MAs help me identify zones of reverses (against or into trend).

We are what we repeatedly do. Excellence then, is not an act, but a habit.
Aristotle
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  #5 (permalink)
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The third part of system is JT real stats. This indicator i have notice firstly in sharkys classroom tread. I think, that this is very helpful tool. I dont use volume part of indicator, but only showing ratio of limit orders and actually bid/ask ratio. This helps me to see, that price action is in harmony vwith depth of market. If i see, that entry candle is more bullish and i should go short, i dont trade (and vice versa).

It long time, that i have realized, there is no one big edge, but few small edges, that brings you success. The most important thing is practice.

We are what we repeatedly do. Excellence then, is not an act, but a habit.
Aristotle
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  #6 (permalink)
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Since you stated you are a beginner... Be careful with FGBL, the liquidity is very low right now, probably 1/4 of what used to be normal and if some Goldman Sachs decides to dump 10000 lot you would look at -40 ticks in a matter of one second. Don't use hard stops in this kinda market condition.

If I were you, I'd probably use half the size I usually trade, but it's your decision.

Have you done any trades? I'd love to see what a trade would look like.

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ReaM View Post
Since you stated you are a beginner... Be careful with FGBL, the liquidity is very low right now, probably 1/4 of what used to be normal and if some Goldman Sachs decides to dump 10000 lot you would look at -40 ticks in a matter of one second. Don't use hard stops in this kinda market condition.

If I were you, I'd probably use half the size I usually trade, but it's your decision.

Have you done any trades? I'd love to see what a trade would look like.

Hi, I dont trade live, actually, but sim/replay only between 3pm and 5pm CET. (It is USA morning)

For example today i have done one sim trade. (I could more, but today is really nice weather here, so i dont want to be in front of pc - my target was 1 trade, start was 4pm)
Next POTENTIAL trades are marked with vertical blue line on the screen. (potential beacause of JT real stats, which is realtime indicator)

My SL is fixed at 3 ticks and thanks to manage position by TaS, I mostly close position earlier.

Feel free to ask questions...

// Im gonna trading sim consistently at the second half of august and It will be posted in my trading journal.
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We are what we repeatedly do. Excellence then, is not an act, but a habit.
Aristotle
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Last edited by gerimo; August 2nd, 2012 at 02:59 PM.
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  #8 (permalink)
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fixed SL means it is a hard stop? Just be aware, that 3 ticks quickly turn into 10 with slippage and then after a couple of month of live trading and hard work one might find that the strategy only works on paper.

I was today probably at -20 ticks in an instant and closed at break even loosing only commission. With hard stop, I'd lose a lot of money today. Also, price at the level you trade is highly random it will go 3 ticks up as many times as it will go down (unless you've found something incredible that works^^).

Also, earliest take profit should be 3 ticks. With 2 or 1 tick, commission eat profits. May I ask, was it a short trade? I am not familiar with Ninja or what that is.

good luck in the future

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ReaM View Post
fixed SL means it is a hard stop? Just be aware, that 3 ticks quickly turn into 10 with slippage and then after a couple of month of live trading and hard work one might find that the strategy only works on paper.

It is stop market order and its very unpropably (but possibly, no doubt it), that would be -10 ticks with slippage. SL i use only for insure, for the case that market become crazy. For last month backtesting on replay I have no one full SL, i have left position earlier.


ReaM View Post
I was today probably at -20 ticks in an instant and closed at break even loosing only commission. With hard stop, I'd lose a lot of money today. Also, price at the level you trade is highly random it will go 3 ticks up as many times as it will go down (unless you've found something incredible that works^^).

I dont think, that it is random entries. I have posted the principle of system posts above and rules will be posted. If you look on possible trades marked on the screen before sim-trade, they have silidly accurance.


ReaM View Post
Also, earliest take profit should be 3 ticks. With 2 or 1 tick, commission eat profits. May I ask, was it a short trade? I am not familiar with Ninja or what that is.
good luck in the future

The sim-trade from yesterday, was short. Commission is cca 2,5 Eur (RT), 1 tick is 10 Eur, so even 1 tick of protfit means cover commission + small profit.


ReaM View Post
good luck in the future

Thank you, and thank you for your interest.

We are what we repeatedly do. Excellence then, is not an act, but a habit.
Aristotle
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I'm using Eurex native market orders, submitted along with the opening order. So they are resting at the exchange, not my broker or PC. Maximum slippage I have experienced so far are two ticks, but I avoid trading around events that cause serious volatility. Such events like the ECB press conference yesterday and the NFP report today.

Where are your data from? You will need very precise data to test such a strategy. Your orders should be resting at the exchange, not your PC. That might cause problems because your broker will have to provide the OCO facility.

Three ticks stop loss is very tight and you need an almost perfect entry to get away with that. Depending on your data feed I guess you will have to test that in real. E.g. If you use IB's data feed then your results will be flawed.

You will have to catch the momentum train when it is strongest, not at its start nor end.

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