Fading the Open NQ - Emini Index Futures Trading | futures io social day trading
futures io futures trading


Fading the Open NQ
Updated: Views / Replies:1,426 / 14
Created: by MNSTrading Attachments:2

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 2  
 
Thread Tools Search this Thread
 

Fading the Open NQ

  #1 (permalink)
Trading Apprentice
Washington
 
Futures Experience: Beginner
Platform: TWS
Favorite Futures: NQ CL
 
MNSTrading's Avatar
 
Posts: 17 since Nov 2015
Thanks: 3 given, 5 received

Fading the Open NQ

So this is what I want to do; I want to fade any open that crosses the Bollinger band and buy/sell on the return, ride it to the moving average and then up to the opposite band if it will go. Using 10 minute candles in 90 days of backtesting, this method is about 90%, but here's the catch...

Its backtesting and the bollinger bands have already formed so they will look different as they are forming in live trading. How do I formulate a buy signal? Do they have to cross and return 5 ticks for example? In a creeping open like today, where do I buy? Hopefully someone has an idea on this.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Also what should my band settings be? I have 20 with 2.0 deviation now.

Thanks!

Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Sydney, Australia
 
Futures Experience: Intermediate
Platform: Sierra Chart, IRESS
Broker/Data: IB, IQFeed
Favorite Futures: ES, SPI, ASX stocks, options
 
Posts: 399 since Jun 2015
Thanks: 169 given, 446 received


So.... why don't you test your hypothesis' and answer the questions and let us know how you go? Isn't that the point?

IB paper trading account is not reliable. Whatever results you get now will be vastly different to when you trade cash.

Reply With Quote
 
  #4 (permalink)
Elite Member
Murrells Inlet SC
 
Futures Experience: Advanced
Platform: Tradestation
Favorite Futures: ES, CL, ETFs
 
Inletcap's Avatar
 
Posts: 9,158 since Dec 2012
Thanks: 9,765 given, 25,670 received

Very likely that your bands are calculated on the close of the bar so you are essentially asking to place a trade in the past which would of course be a great trade more than 90% of the time. It's much more difficult on the hard right edge of your screen

Reply With Quote
 
  #5 (permalink)
Trading Apprentice
Washington
 
Futures Experience: Beginner
Platform: TWS
Favorite Futures: NQ CL
 
MNSTrading's Avatar
 
Posts: 17 since Nov 2015
Thanks: 3 given, 5 received


Inletcap View Post
Very likely that your bands are calculated on the close of the bar so you are essentially asking to place a trade in the past which would of course be a great trade more than 90% of the time. It's much more difficult on the hard right edge of your screen

Yes, exactly Inletcap. I just came up with this edge yesterday and do not have a platform to backtest in real time yet so I will have to forward test starting with today's open. I suspect I will not approach 90% in real time, but even 50% with the constancy I'm seeing would be fine. I will keep you all posted. Anyone have suggestions on Bollinger settings?

Reply With Quote
 
  #6 (permalink)
Trading Apprentice
Washington
 
Futures Experience: Beginner
Platform: TWS
Favorite Futures: NQ CL
 
MNSTrading's Avatar
 
Posts: 17 since Nov 2015
Thanks: 3 given, 5 received


PeakGrowth View Post

IB paper trading account is not reliable. Whatever results you get now will be vastly different to when you trade cash.

How is the papertrading different? It seems the same to me as when I was trading cash (without the emotional rollercoaster). I made $600.00 on 2 NQ trades on paper yesterday on that rally you see above and the subsequent drop. Are you saying it would be a different number in cash? Why?

Reply With Quote
 
  #7 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,219 received


MNSTrading View Post
Yes, exactly Inletcap. I just came up with this edge yesterday

Correction.

You just came up with a hypothesis that you've not tested and should have absolutely zero reason to believe it contains an edge until proven otherwise. In fact, you should assume it is negative expectancy until proven otherwise.

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.

Reply With Quote
The following 4 users say Thank You to Big Mike for this post:
 
  #8 (permalink)
Elite Member
Phoenix AZ
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: Optimus
Favorite Futures: /ES /YM
 
Posts: 10 since Apr 2013
Thanks: 3 given, 8 received

what i learned the hard way.

You will save yourself a lot of time if you skip lagging price based indicators. Start looking at context and price action. I suggest FT71 as a source for beginning to understand those terms.

Reply With Quote
 
  #9 (permalink)
Trading Apprentice
Washington
 
Futures Experience: Beginner
Platform: TWS
Favorite Futures: NQ CL
 
MNSTrading's Avatar
 
Posts: 17 since Nov 2015
Thanks: 3 given, 5 received

that's an excellent point Mike. I wish it were an edge, but certainly cannot claim one at this time. I'm hopeful that something useful will come of my hypothesis, there's a good chance my failure to gain a proven edge at this point stem from over reliance on indicators, particularly lagging ones.

Tradentravel, what is FT71?

Reply With Quote
 
  #10 (permalink)
Elite Member
Phoenix AZ
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: Optimus
Favorite Futures: /ES /YM
 
Posts: 10 since Apr 2013
Thanks: 3 given, 8 received


Futures Trader 71. He does a daily review of market context before the opening bell. Look him up on twitter. He also has several webinars here on futures.io.

Reply With Quote

Reply



futures io > > > > Fading the Open NQ

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Fading the Open, backtesting MNSTrading Beginners and Introductions 7 November 13th, 2015 09:28 AM
Market Open and News Event Price Action Scalping in NQ/CL ganamide Trading Journals 1 July 1st, 2015 02:46 PM
IQFEED: @NQ# vs. @NQ#C a2trader Reviews of Brokers and Data Feeds 3 September 22nd, 2013 06:42 PM
Why Hopes of a Deal on the EU Budget Are Fading Fast Quick Summary News and Current Events 0 November 22nd, 2012 09:50 PM
Silver's Shine Is Fading Fast Quick Summary News and Current Events 0 May 3rd, 2011 08:40 PM


All times are GMT -4. The time now is 10:21 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-12 in 0.13 seconds with 20 queries on phoenix via your IP 54.90.92.204