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Day Trading Currency Futures W/Multiple time frames
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Day Trading Currency Futures W/Multiple time frames

  #71 (permalink)
Trading Apprentice
United Kingdom
 
Futures Experience: None
Platform: MetaTrader
Favorite Futures: Stocks
 
Posts: 8 since Mar 2013
Thanks: 10 given, 1 received


ESFXtrader View Post
For those who have not yet joined the Elite group, don't you think it's about time to have access to some of the best posts and material available for traders?
For a trader, it can't be about the money. You will learn enough to make it up many times over. Get on board.
https://futures.io/elite-trading-journals/
https://futures.io/elite-trading-journals/23787-cl-crude-oil-futures-contract-trades-167.html#post340383
See what you are missing.
Good trading.
WK
PS The 800 tick chart on CL is well represented and you will see just how successful you can be.


Thanks again for your helpful posts. But I beg you, please post the rules or at least guidelines that you are using to enter the trades which you have marked on the charts just in your previous 3 or 4 posts.

I have read through this whole thread and your others and still I find I am second guessing your entries, I will only be able to learn if you post the reasons why you entered along with your entries. Otherwise people will falsely accuse you of trading a chart in hindsight.

Thanks,
Ben

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  #72 (permalink)
Trading for Profit
West Coast of Florida
 
Futures Experience: Intermediate
Platform: TradeStation, Danials Trading
Favorite Futures: TF, CL, & HO HOs
 
ESFXtrader's Avatar
 
Posts: 505 since Jul 2010
Thanks: 56 given, 2,283 received

Day Trading Currency Futures W/Multiple time frames


benjjj6 View Post
Thanks again for your helpful posts. But I beg you, please post the rules or at least guidelines that you are using to enter the trades which you have marked on the charts just in your previous 3 or 4 posts.

I have read through this whole thread and your others and still I find I am second guessing your entries, I will only be able to learn if you post the reasons why you entered along with your entries. Otherwise people will falsely accuse you of trading a chart in hindsight.

Thanks,
Ben

From what I occasionally hear, some may not see as readily as I do the setups for the long and short of it. Maybe it is that I have seen so many charts that the setups jump off the chart at me. I thought I had notated it clearly on the charts. One thing that I have never said, to my knowledge, is that when using the Woodies CCI indicator (this can be successful trading all unto itself), is that after a move to overbought or oversold where the CCI goes beyond 200 and moves back toward zero, when it first hits +40-short or when it first hits -40-buy on any FX pr, Futures contract, etc. and see just how powerful that is. The stop is below the low of the day or below the purple box. The first chart, AUDJPY 120MIN CHART, will demonstrate this.
I had planned to leave the other chart for Elite only, but because of lack of time, I will include it here.
It is the 800 tick GCL- crude oil chart.
As before, the notations tell the entries clearly. Either BB, Green-RMA, Above or below 2 MAs, or on close of candlestick on other setups. See if it starts making since.
Good trading.
WK
PS I will go into more detail ASAP.

Attached Thumbnails
Day Trading Currency Futures W/Multiple time frames-audjpy_120min_chart2013-06-28close_001.png   Day Trading Currency Futures W/Multiple time frames-gcl-crudeoil_800tick_chart_-_trades2013-06-28close.png  

Last edited by ESFXtrader; June 30th, 2013 at 05:26 PM. Reason: PS
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  #73 (permalink)
Trading Apprentice
spalding
 
Futures Experience: Intermediate
Platform: metatrader
Favorite Futures: forex
 
Posts: 1 since Apr 2013
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confused


i would love to actually no your entries im finding so hard to understand for you charts and im ok at trading so i dont no how any newbies are going to get this

 
  #74 (permalink)
Trading Apprentice
London, UK
 
Futures Experience: Intermediate
Platform: MultiCharts, MT4, R Trader
Broker/Data: Rithmic
Favorite Futures: ES, NQ, AU
 
Posts: 37 since Jul 2012
Thanks: 15 given, 12 received

I know it is widely recommended to use multiple time frames but I could never get it to "click".

In fact I found it had a negative impact on my trading as it would cause too many conflicting thoughts. Due to an overload of data I think!

While I think it's an obvious concept, it's just not for me. Good to read threads like this though to understand how others utilize multi-chart setups.

I find it much more preferable (and less work!) using single tick or time charts to base trades off and since I implemented the pipdaq setups by just trading on a single chart, my fortunes have turned on their head.

 
  #75 (permalink)
Trading for Profit
West Coast of Florida
 
Futures Experience: Intermediate
Platform: TradeStation, Danials Trading
Favorite Futures: TF, CL, & HO HOs
 
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Posts: 505 since Jul 2010
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Day Trading Currency Futures W/Multiple time frames

Although, here I am not showing multiple time frame charts; there is a good reason. I have found that 6 tick (m) chart is my favorite from which to trade and I will show 2 charts to clearly indicate just how well it works. I have often seen other charts to confirm trade setups on the 6 tick (m), but you can see for yourself that the price of the trade of a setup is often identified before the bar or candlestick closes. I am liking the 6A futures contract more and more, as it often trends for nice gains as you will see. My system works great on it.
Good Trading! Hope this helps.
WK

Attached Thumbnails
Day Trading Currency Futures W/Multiple time frames-6a_6tick_-m-chart_-_trades2013-11-28-12-4.png   Day Trading Currency Futures W/Multiple time frames-6a_6tick_-m-_chart_-_trades2013-12-4-6.png  
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  #76 (permalink)
Trading Apprentice
kuala lumpur+selangor/malaysia
 
Futures Experience: Beginner
Platform: Metatrader
Favorite Futures: currency, Forex,oil, gold
 
Posts: 7 since Dec 2013
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Forex & Currency Trading


ESFXtrader View Post
For those interested, I am not here often and thought I would show you my new and improved system.
I trade off the BBs, the Green MA, and the 2 MAs, as you will see in the screen shots of the charts. This is from the Charts at Danials Trading. I have not been able to duplicate the LSMA (Least Square MA)-2 MAs or the RMA (Rolling MA)-Green MA on other platforms. I will tell you that it consistently works.
I will give more info after vacation, as I am off to visit my son and family for more than 2 weeks.
The Notations on the charts will show just how accurate this system continually works. I will have more charts soon. This is a one of a kind system no one else has it, just as no one had my CCI system.
This is far better than those sold for big money. You will see.
The 6 tick (r) is a 6 tick range bar chart and it works on most any futures contract. Try it with what you trade and see if it will help you be more accurate. Try it on TF, ES, currencies, etc.
You will find that many times the charts and indicators confirm one another. Often best to wait when the 2 MAs approach the Green MA on a proven chart that works nearly all the time. See for yourself. Although, if you are already in a trade, continue to move the stop to protect the gains.
The vertical red lines show the price info at close of candlestick and all indicator info. The first lower level chart shows the double top short (red horizontal bar) after price had moved below the MAs and pulled back to them-one of my favorite trades. I have called these live in a live futures trading chat room on many occasions and have not had a bad call to date.
Good Trading.
WK


 
  #77 (permalink)
Trading Apprentice
kuala lumpur+selangor/malaysia
 
Futures Experience: Beginner
Platform: Metatrader
Favorite Futures: currency, Forex,oil, gold
 
Posts: 7 since Dec 2013
Thanks: 5 given, 1 received

Forex % Currency Trading

Thanks for your nice posts. I liked your Woodies cci indicator-- it really works.. By the way, your CCI is of the

histogram type, unlike, mine- which is in +100 -100 or +200, - 200 type... I think the histogram type is easier

to understand. Do you mind, alert me on how to install CCI TO YOUR TYPE . Also, your RSI IS ALSO OF THE

histogram type, unlike mine- which is of % type, thanks again. Hope to hear from you..

 
  #78 (permalink)
Elite Member
Philadelphia, Pa
 
Futures Experience: Advanced
Platform: Ninja 7
Broker/Data: Amp/CQG
Favorite Futures: CL, ES
 
longboat's Avatar
 
Posts: 137 since Jun 2009
Thanks: 887 given, 188 received

Thanks for posting. I look forward to more posts. I wish we could come close to duplicating the Ma's though.

 
  #79 (permalink)
Elite Member
Bangkok, Thailand
 
Futures Experience: Beginner
Platform: MT4
Favorite Futures: Currency
 
peppermint's Avatar
 
Posts: 10 since Jul 2014
Thanks: 358 given, 7 received

Great info, thank you for posting, ESFXtrader. I am wondering, do you still use this system? Thank you.

 
  #80 (permalink)
Trading for Profit
West Coast of Florida
 
Futures Experience: Intermediate
Platform: TradeStation, Danials Trading
Favorite Futures: TF, CL, & HO HOs
 
ESFXtrader's Avatar
 
Posts: 505 since Jul 2010
Thanks: 56 given, 2,283 received

6E on 10 tick(r) chart


6E on 10 tick (r) chart with trades marked just as we trade them.
DX charts 5 tick(r) chart.
Hope you are doing well in your trading.
If not, come to the Elite area and see how we are doing. There are a lot of fine traders journaling daily there.
Good trading.
WK

PS There are certain things every Day Trader must know.
I have mentioned some in the past. I will cover some here so you will be able to avoid them at all costs.
Traders have lost more money than what was in their accounts. This usually happens because of multiple contracts held over night or without proper stops for their account size. Be prudent.
As a Day Trader, do not hold a position over night or beyond the close of the contract.
In grains, a limit down or limit up against your trade can more than cripple your trading.
If you have a trade on and are called away from your computer late in the session, what are the chances that you fail to exit the trade before close? Don't let this happen to you.
Before you shut down for the day or time period trading, make sure that you have not left a working order in a market, as it will usually get hit and entered and the results can be devastating.
One of the most important things to be aware of are the news releases. Some are political or FED related or disasters or disruptions in oil refining and the like and therefore it is good to have a way to see the latest news coming out. This may be in a chat room or the like or by way of TV, etc.
Before beginning to trade, one must be prepared as to news that comes out systematically, on a regularly basis. That can be found here: Forex News @ Forex Factory
as well as other sites.
I have been caught only once on the wrong side of the market when a news release came out and my stop was hit in less than a second and I had only 3 ticks slippage. Thank goodness. Be aware.
The one thing you can't be prepared for is the flash crash. It happens. Fat fingers kill and wipe out accounts. Don't be a statistic. Don't hold to many contracts. I know of traders who trade 50 contracts for themselves to 10,000 contracts for clients. I don't see any reason for the average trader to trade more than 20 contracts at any one time. You may see it differently until........ You never know when another fat finger will happen and cause another crash in the market.
Know that your stop can always be hit. Can you handle the loss plus slippage?

There is a lot more that can be added, but this is a good start. I will add more later in the Elite area. See you there.

Attached Thumbnails
Day Trading Currency Futures W/Multiple time frames-2014-11-08_0142.png   Day Trading Currency Futures W/Multiple time frames-2014-11-08_0158.png  
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