Entry and Exit Decisions - Emini Index Futures Trading | futures io social day trading
futures io futures trading


Entry and Exit Decisions
Updated: Views / Replies:1,975 / 37
Created: by goodoboy Attachments:17

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
 17  
 
Thread Tools Search this Thread
 

Entry and Exit Decisions

  #31 (permalink)
Trading for Fun
Houston
 
Futures Experience: Beginner
Platform: ThinkorSwim, NinjaTrader,
Favorite Futures: ES,CL,NQ
 
goodoboy's Avatar
 
Posts: 73 since Dec 2016
Thanks: 24 given, 22 received


aquarian1 View Post
Is your testing to tell you which setup(s) will be profitable ?
or
Is it to try and build an automated system?

Hello aquarian1,

The testing is to tell me which entry setup will be the most profitable.

Building an automated system will not occur until I find a profitable system(s) that can be trading manually day to day for some months. This is work is for later.

Thanks

Reply With Quote
 
  #32 (permalink)
Trading for Fun
Houston
 
Futures Experience: Beginner
Platform: ThinkorSwim, NinjaTrader,
Favorite Futures: ES,CL,NQ
 
goodoboy's Avatar
 
Posts: 73 since Dec 2016
Thanks: 24 given, 22 received

Here is another example of breakouts for resistance and supports.

I struggle with rather or not to take 2nd chance breakouts after a retrace once 1st breakout occurred. For now, i will take it and record it in my stats. But technically I can not put any logic behind that type of second breakout in the picture attachment.

Thanks

Attached Thumbnails
Entry and Exit Decisions-screenshot_10.png  
Reply With Quote
 
  #33 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
aquarian1's Avatar
 
Posts: 3,069 since Dec 2010
Thanks: 1,122 given, 1,667 received
Forum Reputation: Legendary

seeing it differently


some thoughts.

remember - however you decide you need to be able to put your setup into words to test it.

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

Keep your mind in the future, in the now.
Reply With Quote
The following user says Thank You to aquarian1 for this post:
 
  #34 (permalink)
Trading for Fun
Houston
 
Futures Experience: Beginner
Platform: ThinkorSwim, NinjaTrader,
Favorite Futures: ES,CL,NQ
 
goodoboy's Avatar
 
Posts: 73 since Dec 2016
Thanks: 24 given, 22 received


aquarian1 View Post
some thoughts.

remember - however you decide you need to be able to put your setup into words to test it.

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

Hello,

Sorry for the confusion. Ignore the EMAs, they are not apart of my rules or system. They are only there for future visual and ideas.

my system :

Trend:
Identify with my eyes. if price going doing, trend down, look for breakout below support. Vice versa for longs breakouts.
My second arrow is where I get into trouble, as you see I went short, but the price was actually moving upwards as you detailed in your picture. However, the breakout you took, I would have not taken cause there is another resistance right above it. See attachment.

Entry:
If full a bar (open, close, low) is below support, enter 1-5 ticks from the support that broke.
If full a bar (open, close, high) is above resistance, enter 1-5 ticks from the resistance that broke.

Exit
stop loss 2 points
Exit 4 - 6 pts, depends on the next target.

Attached Thumbnails
Entry and Exit Decisions-screenshot_11.png  
Reply With Quote
 
  #35 (permalink)
Trading for Fun
Houston
 
Futures Experience: Beginner
Platform: ThinkorSwim, NinjaTrader,
Favorite Futures: ES,CL,NQ
 
goodoboy's Avatar
 
Posts: 73 since Dec 2016
Thanks: 24 given, 22 received


aquarian1 View Post
so in addition to:
1. Time of Trade
2. Price

Price and time of:
leg 1
Retracement
final swing end

You will want to be able to answer
What was the first leg (after trade entry)
What was the retracement (after leg1)
What was the final swing low/high (regardless of where you exited)

.

Thanks aquarian,

I have been thinking about your recommendations of collecting data per trade based on leg 1, retracement, and final swing end. I understand the reason for collecting data on final swing end, but not sure I understand the logic or reasoning for knowing the retracement after leg 1.

See attachment.

Attached Thumbnails
Entry and Exit Decisions-screenshot_12.png  
Reply With Quote
 
  #36 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
aquarian1's Avatar
 
Posts: 3,069 since Dec 2010
Thanks: 1,122 given, 1,667 received
Forum Reputation: Legendary


goodoboy View Post
Thanks aquarian,

I have been thinking about your recommendations of collecting data per trade based on leg 1, retracement, and final swing end. I understand the reason for collecting data on final swing end, but not sure I understand the logic or reasoning for knowing the retracement after leg 1.

See attachment.

Earlier in thread the question of stops came up and someone (Tymberline?) correctly mentioned that trailing stops don't work out that well in practice.

Questions:
  • Where do you place your stop?
  • when and where to adjust it? and
  • should you exit with a stop or a trade?
After studying many, many, charts (and given my goals for a trade) I have decided to move my to BE once I am 5 points to the good and exit with a trade (not a stop).

So if you SHORT it goes
-11, +6.25, -8
and you used a trail 5 once you are at BE the retracement would take out your trail 5 (as 6.26 is >5).
You would only get 6 points of the 11 pts first leg and then be out of the trade altogether.
So knowing what the retracement is is important.

(Abbreviation :close and reverse = CAR)

Alternatively, if your system is such that you CAR at minus 11 and reverse from short to long and then CAR at +6.25 to catch the -8 leg, you need to know the 6.25.

Everything depends upon YOUR method - so the ideas are for mine.

If you haven't already, I suggest you do the sample videos on strategy analyzer and then try a simple strategy -doesn't matter what - just to get and idea of working with it.
(For example, I don't know how you are going to test your resistance entries)

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



Please note I am not recommending, or not not recommending, that you back test just responding to what you have posted. Others on the board are better able to guide you than I.

Keep your mind in the future, in the now.
Reply With Quote
The following user says Thank You to aquarian1 for this post:
 
  #37 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
aquarian1's Avatar
 
Posts: 3,069 since Dec 2010
Thanks: 1,122 given, 1,667 received
Forum Reputation: Legendary


goodoboy View Post
Hello,

Sorry for the confusion. Ignore the EMAs, they are not apart of my rules or system. They are only there for future visual and ideas.

my system :

Trend:
Identify with my eyes. if price going doing, trend down, look for breakout below support. Vice versa for longs breakouts.
My second arrow is where I get into trouble, as you see I went short, but the price was actually moving upwards as you detailed in your picture.

However, the breakout you took, I would have not taken cause there is another resistance right above it. See attachment. - Is this the green line?

Entry:
If full a bar (open, close, low) is below support, enter 1-5 ticks from the support that broke.
If full a bar (open, close, high) is above resistance, enter 1-5 ticks from the resistance that broke.

Exit
stop loss 2 points
Exit 4 - 6 pts, depends on the next target.


see comments in prior post about trying the strategy analyzer before going too much further

Keep your mind in the future, in the now.
Reply With Quote
 
  #38 (permalink)
Trading for Fun
Houston
 
Futures Experience: Beginner
Platform: ThinkorSwim, NinjaTrader,
Favorite Futures: ES,CL,NQ
 
goodoboy's Avatar
 
Posts: 73 since Dec 2016
Thanks: 24 given, 22 received


aquarian1 View Post
see comments in prior post about trying the strategy analyzer before going too much further

Thanks aquarian1,

You are correct, if I program the strategy and can back test many different scenarios using NinjaTrader.

Thanks for your help

Reply With Quote

Reply



futures io > > > > Entry and Exit Decisions

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

FuturesTrader71: TBA

Elite only

Al Brooks: TBA

Elite only

Jigsaw Trading: TBA

Oct 19

RandBots: TBA

Oct 24
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
the best entry and exit point? henrick duda Stocks and ETFs Trading 3 April 19th, 2015 09:53 AM
Entry/Exit optimization strategy vetl Elite Automated Trading 11 June 20th, 2014 07:13 AM
Which upgrade from Windows XP? Decisions, decisions. Buscador Tech Support 27 May 9th, 2014 12:39 AM
How to exit the day after entry? Orjan EasyLanguage Programming 14 November 4th, 2013 10:22 AM
a simple entry exit bar johni EasyLanguage Programming 7 July 23rd, 2011 04:34 AM


All times are GMT -4. The time now is 05:25 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 2017-09-23 in 0.11 seconds with 36 queries on phoenix via your IP 54.225.26.154