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Little help here please.


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Little help here please.

  #11 (permalink)
 bbron 
owensboro ky
 
Experience: Intermediate
Platform: TOS,Sierra
Broker: IB, TD
Trading: ES
Posts: 30 since Jul 2015
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Blash View Post
It helps in my view to have a plan written down of the types of trades you are going to take. It seems to me from the conversation you don't. Of course I might be wrong.

Having a Trade Plan with what you are looking for ahead of time, meaning the type of trades you will be taking the how and the why the where and when etc how much you will be risking position sizing during winning streaks and position sizing during losing streaks how you will manage the trades, this can all really help IMO.

Then, also create a quick 5 or 10 minute plan of attack each trading session in addition to the overaching comprehensive Trade Plan. This might look like ..... ES RTH opened in range (OIR, opening inside of the last trading session RTH range) with a up gap of 3 pts (close of prior RTH session to open of next RTH session). Over night high (ONH) is up 2 pts from open if ES struggles to take out ONH I will short with target of gap close.

Basically don't do anything without it all planned out ahead of time. The only mistake you will make is if you do do something that was not clearly stated in the plan.

I created a "understanding position sizing Excel sheet" and posted it in my trade journal. Of course you are more than welcome to download it and experiment with different position sizing ideas. Here is a video about it....

And here is the actual Excel sheet

Ron

Sorry for the late reply, Looks like great advice and something I will come back to reread in the future. I cant see the links do to Im not a elite member yet.

Thanks Blash
Looking forward to your posts!
Bob

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  #12 (permalink)
 
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 Blash 
Chicago, IL
Legendary Market Chamois
 
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bbron View Post
Sorry for the late reply, Looks like great advice and something I will come back to reread in the future. I cant see the links do to Im not a elite member yet.



Thanks Blash

Looking forward to your posts!

Bob


Bro I guarantee to you, becoming an Elite member here at futures.io (formerly BMT) will, number 1: be the best and wisest investment in yourself with regards to trading you can possibly make here on planet Earth, as long as you actively participate and have a sincere desire and willingness to learn and, 2: will save you a boat load of cash in both trading losses and educational information ie webinars etc.... not to mention the myriad indicators and in a one case (perhaps more) a system (Gomi) available to you.

Not to mention the fact that @Big Mike currently has only set the fee for becoming Elite at $100.00 which perhaps should/will be reevaluated once futures.io (formerly BMT) 5.0 goes live.

Take this step into your future my friend and start the long process of becoming a consistently profitable trader and uncovering all that it entails here at futures.io (formerly BMT).
Ron


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  #13 (permalink)
 bbron 
owensboro ky
 
Experience: Intermediate
Platform: TOS,Sierra
Broker: IB, TD
Trading: ES
Posts: 30 since Jul 2015
Thanks Given: 14
Thanks Received: 3



Blash View Post
Bro I guarantee to you, becoming an Elite member here at futures.io (formerly BMT) will, number 1: be the best and wisest investment in yourself with regards to trading you can possibly make here on planet Earth, as long as you actively participate and have a sincere desire and willingness to learn and, 2: will save you a boat load of cash in both trading losses and educational information ie webinars etc.... not to mention the myriad indicators and in a one case (perhaps more) a system (Gomi) available to you.

Not to mention the fact that @Big Mike currently has only set the fee for becoming Elite at $100.00 which perhaps should/will be reevaluated once futures.io (formerly BMT) 5.0 goes live.

Take this step into your future my friend and start the long process of becoming a consistently profitable trader and uncovering all that it entails here at futures.io (formerly BMT).
Ron


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Your right,Ill do it now.

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  #14 (permalink)
graffasi
spokane wa
 
Posts: 5 since Mar 2015
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Is there a good website someone can reccomend that teaches internal indicators directly related to ym and es?
Thanks
Dan

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  #15 (permalink)
 
Leon of Pizza's Avatar
 Leon of Pizza 
St. Louis
 
Experience: Beginner
Platform: thinkorswim, NT8
Trading: equity and fx futures and options
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bbron, consider using a 2 cell grid with 2 time frames and 2 dwg sets. the larger time frame and its dwg are used to identify areas of interest. then set alerts and wait. when that area is tested, switch to the smaller time frame (15m bars) and work the wedge from there. I didn't see a wedge in 4h bars either btw. I expect an intraday wedge to set up and complete within a 4h period.

If you choose to try it out, make a written procedure and call it your mechanic. It allows you to accumulate a basket of potential areas of interest and then easily bring your focus in tighter if one sets up. It also allows you to clean up your charts, which are overdrawn imo. consider turning off drawing extensions for the ones that aren't imminently pertinent. note, the software can't correctly plot an angular object if both it's anchors aren't within the chart's time frame (more reason to keep 2 discrete dwg sets).

The example shows 2 different periods, but the intent is that they're the same.


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  #16 (permalink)
 bbron 
owensboro ky
 
Experience: Intermediate
Platform: TOS,Sierra
Broker: IB, TD
Trading: ES
Posts: 30 since Jul 2015
Thanks Given: 14
Thanks Received: 3


Leon of Pizza View Post
bbron, consider using a 2 cell grid with 2 time frames and 2 dwg sets. the larger time frame and its dwg are used to identify areas of interest. then set alerts and wait. when that area is tested, switch to the smaller time frame (15m bars) and work the wedge from there. I didn't see a wedge in 4h bars either btw. I expect an intraday wedge to set up and complete within a 4h period.

If you choose to try it out, make a written procedure and call it your mechanic. It allows you to accumulate a basket of potential areas of interest and then easily bring your focus in tighter if one sets up. It also allows you to clean up your charts, which are overdrawn imo. consider turning off drawing extensions for the ones that aren't imminently pertinent. note, the software can't correctly plot an angular object if both it's anchors aren't within the chart's time frame (more reason to keep 2 discrete dwg sets).

The example shows 2 different periods, but the intent is that they're the same.


Sorry for my ignorance but what is "dwg"?

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  #17 (permalink)
graffasi
spokane wa
 
Posts: 5 since Mar 2015
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Try using the vxx as a market direction before entering a play. I use the one and five minute chart. A sharp move in vxx really helps me with confirmation of the trade for a reversal. When it blast up green market begins to drop

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  #18 (permalink)
 bbron 
owensboro ky
 
Experience: Intermediate
Platform: TOS,Sierra
Broker: IB, TD
Trading: ES
Posts: 30 since Jul 2015
Thanks Given: 14
Thanks Received: 3


graffasi View Post
Try using the vxx as a market direction before entering a play. I use the one and five minute chart. A sharp move in vxx really helps me with confirmation of the trade for a reversal. When it blast up green market begins to drop

Great advice, thanks!

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  #19 (permalink)
graffasi
spokane wa
 
Posts: 5 since Mar 2015
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shoot me an email or private message. I can tell you some things that have helped me

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Last Updated on September 6, 2015


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