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Time Bandits. A Simple Trading Plan for the E mini Dow YM
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Time Bandits. A Simple Trading Plan for the E mini Dow YM

  #21 (permalink)
Elite Member
Atlanta, GA
 
Futures Experience: Advanced
Platform: tos
Favorite Futures: ES,YM,TF, NQ
 
Posts: 34 since Apr 2011
Thanks: 1 given, 39 received

One Signal....Four Trades.

1st Photo: 10:20 on the 512 bars for the YM gave a strong Bullish Hammer in the 2nd Time Zone (10:00-10:30).
The high of that Hammer was 12229. Buy order @ 12235 just a few tick over the high.
2nd Photo: Confirmed Buy signal with the ES and Place Buy order @ 1301 2 ticks higher than ES's Hammer.
3rd Photo: NQ - Place Buy order @ 2307 4 tick over the Hammer signal.
4th Photo: TF Place Buy order @ 810 8 ticks higher than the 10:21 512 bar. The TF did not create a Buy signal at 10:21 so I used the strong signals from the YM, ES, and NQ to enter long.
Filled Long by 10:25 on all four. Just got in under the Price for the TF.

Did anyone else trade this signal?
If so why? Did you use any other indicator/s besides Price at 10:21 with a Bullish Hammer?

I'll post up a video recapping Friday trading later this weekend.

Have a Great weekend!

BroncoSlade

Total:
YM 45 ticks
ES 16 ticks
NQ 44 ticks
TF 60 ticks

Attached Thumbnails
Time Bandits. A Simple Trading Plan for the E mini Dow YM-ymm1-06032011-1020.jpg   Time Bandits. A Simple Trading Plan for the E mini Dow YM-esm1-06032011-1021.jpg   Time Bandits. A Simple Trading Plan for the E mini Dow YM-nq06032011-1020.jpg   Time Bandits. A Simple Trading Plan for the E mini Dow YM-tfm1-06032011-1020.jpg  
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  #22 (permalink)
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I can see a trade on MY charts for the ym,nq and tf but nothing on es. Of the four you have in my view only the tf would be a trade, it was a pinbar off of s2. I did none of these. Mainly on the others I didn't like the location, tf was arguable. Aside from all that why did you trade all four, why not load up on one...that's a lot to manage/watch at the same time. I would also add that I personally never trade any index off a signal from another, doesn't work for me.

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  #23 (permalink)
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kbit View Post
I can see a trade on MY charts for the ym,nq and tf but nothing on es. Of the four you have in my view only the tf would be a trade, it was a pinbar off of s2. I did none of these. Mainly on the others I didn't like the location, tf was arguable. Aside from all that why did you trade all four, why not load up on one...that's a lot to manage/watch at the same time. I would also add that I personally never trade any index off a signal from another, doesn't work for me.

kbit, you are right! Managing 4 trades can be a bit too much. Once the 1st Target is filled, it gets easier. Sometime the Trigger points is filled before I can get the orders in. Actually I did load up on the YM and ES but for this thread I will always use 1 contract for each target.

I always use the interrelationship of the YM, ES, NQ and TF to help enter and exit all my trades. I look for the leader of the day and usually trade that index then look to see if the other indexes are following. I works very well for me.


Thanks,

BroncoSlade

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  #24 (permalink)
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Friday and Monday's Trading

Below is the YouTube recap for trading Friday and today, Monday.

Thanks,

BroncoSlade



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  #25 (permalink)
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Bronco, what are you using to record the videos? You might need to adjust the quality to a higher resolution and bit rate.

Mike

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  #26 (permalink)
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BroncoSlade View Post
kbit, you are right! Managing 4 trades can be a bit too much. Once the 1st Target is filled, it gets easier. Sometime the Trigger points is filled before I can get the orders in. Actually I did load up on the YM and ES but for this thread I will always use 1 contract for each target.

I always use the interrelationship of the YM, ES, NQ and TF to help enter and exit all my trades. I look for the leader of the day and usually trade that index then look to see if the other indexes are following. I works very well for me.


Thanks,

BroncoSlade

Yeah, I too look at a number of indexes in order to get a better picure of what's going on, I just like to pick the best one of the bunch generally to load up on. I can't argue with sucess though, seems like you got a pretty good handle on it.
Regards, Kbit

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  #27 (permalink)
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Screen capture software

Thanks, Mike

I'm using AVS Video Editor. It's not Camtasia Studio but it's a hell of a lot cheaper
and seems to me decent enough. I just reproduced it at the highest res available and it looks
much better.
Creating these videos and formatting a trading system for others takes a lot of time. Wanted an inexpensive system to
"paper trade" with to see if I want to continue teaching my system

Any software suggestions?

Thanks, Mike.......market bell just rung!

BroncoSlade

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  #28 (permalink)
Site Administrator
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Futures Experience: Advanced
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Big Mike's Avatar
 
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You might try Camstudio, it's not Camtasia - but very similar, and free.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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The following user says Thank You to Big Mike for this post:
 
  #29 (permalink)
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Futures Experience: Advanced
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Posts: 34 since Apr 2011
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Trading Time Zones

Time: I use six time zones in the morning session.
Open to 10:00, 10:00-10:30, 10:30-11:00, 11:00-11:30, 11:30-12:00 and 12:00-12:30/1:00

I left out the most important Time Zone for the trading day. The Overnight Session.

The Over Night Session is where I draw Daily (short term) Resistance and Support level for the new day's trading. If nothing else, it helps determine the Daily Trend. I look at the ON Open, High and Low. Where is the YM trading in relationship to the Over Night?

Photo 1 and 2: The Over Night Session set the stage for trading the YM and ES yesterday. Clear Resistance at the Over Night highs signaled two very good trades with the last trade at about 2:30 producing the better results.
Photo 3: But the NQ produced two strong Buy signals when the Over Night Open acted as Support. Both signals traded back to the Over Night High where they found Resistance and produced two strong Sell signal.

This is why I draw these lines for the Over Night Session. Just another arrow in the quiver.

Thanks,

BroncoSlade

Attached Thumbnails
Time Bandits. A Simple Trading Plan for the E mini Dow YM-ymm1-06072011.jpg   Time Bandits. A Simple Trading Plan for the E mini Dow YM-esm1-06072011.jpg   Time Bandits. A Simple Trading Plan for the E mini Dow YM-nqm1-06072011.jpg  

Last edited by BroncoSlade; June 8th, 2011 at 12:55 PM.
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  #30 (permalink)
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Count the up and down days. Where are we in relation to the high and low?


On Monday (beginning on the week)
I draw a trading range from the high and the low of the past 10 trading days.
Count the up and down days for those 10 days. Where are we in relation to the high and low?
Today, June 9th the 10 day Count was 4 Days Up (in a row) 6 Days Down (in a row). 1st indicator of a reversal.
YM is trading just off the new low @ 12014 (Wednesday(6/08)) of the past 10 days.

Popped up 83 ticks higher in the overnight session then traded lower towards the Overnight Open but found Support above the ON Open. 2nd indicator the YM may change direction today.

Believe it or not.....I try not to have a market bias at the Open. I try to let the market tell me it's direction for the day.
Some days I'm the windshield, some days the bug! If you have been trading for a while, you know the markets slows down and/or reverse after trading in the same direction for several days in a row. I use the 10 Day Trend to help determine market direction for the day. 6 down days in a row suggested a change of direction was coming. Photo 1

The YM traded slightly lower off this morning's Open then found Support in the exact same area of Support in the Overnight. 3rd indicator the YM may trade higher. Photo 2

4th indicator and my Entry Long was when the YM may traded above this morning's Open @ 12065 Long @ 12065

5th indicator was then it traded above the Overnight high, consolidated and then traded high. Once it traded above the 1st Pullback at the Overnight high, I trailed my 2nd target to 12100. Again, when it traded to the 3rd Pullback area, I trailed my stop to the 2nd Pullback @ 12120. The 3:00 and 3:13 512 tick bars showed enough weakness for me to Exit all my positions at the 3rd Pullback area.

Thanks,

BroncoSlade

Attached Thumbnails
Time Bandits. A Simple Trading Plan for the E mini Dow YM-ymm1-06092011-daily-bars.jpg   Time Bandits. A Simple Trading Plan for the E mini Dow YM-ymm1-06092011.jpg  

Last edited by BroncoSlade; June 10th, 2011 at 08:55 AM.
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