Is it worth trading chop days? - Psychology and Money Management | futures io social day trading
futures io futures trading


Is it worth trading chop days?
Updated: Views / Replies:5,065 / 43
Created: by Itchymoku Attachments:6

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
 6  
 
Thread Tools Search this Thread
 

Is it worth trading chop days?

  #11 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Itchymoku's Avatar
 
Posts: 2,892 since Apr 2012
Thanks: 1,681 given, 3,622 received

sorry bout that

Reply With Quote
 
  #12 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received

Answer
This post has been selected as an answer to the original posters question Answer

It can be done, depending on the instrument and your trading plan... This a new indicator inspired by Fat Tails post about R Squeeze ... I was testing it in SIM today...

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


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



I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
Reply With Quote
 
  #13 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Itchymoku's Avatar
 
Posts: 2,892 since Apr 2012
Thanks: 1,681 given, 3,622 received



ThatManFromTexas View Post

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


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


Wow, If only there was a show called pimp my chart

Reply With Quote
 
  #14 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Itchymoku's Avatar
 
Posts: 2,892 since Apr 2012
Thanks: 1,681 given, 3,622 received


ThatManFromTexas View Post
It can be done, depending on the instrument and your trading plan... This a new indicator inspired by Fat Tails post about R Squeeze ... I was testing it in SIM today...

Nice indicator, it worked well? I assume you still use it on trends.

Usually I'd take these trades noted with the red oval

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

Reply With Quote
 
  #15 (permalink)
Membership Revoked
Ontario, Canada
 
Futures Experience: None
Platform: NT
Broker/Data: IB
Favorite Futures: gold
 
dario1's Avatar
 
Posts: 405 since Jan 2012
Thanks: 62 given, 52 received


Big Mike View Post
And how many trades per day do you take roughly?

I ask because generally I see traders that are taking 10+ trades a day, long, short, long, short -- those are the guys getting killed by 'chop'.

Mike

You're absolutely right -- as you see from my statement below I was only making money for my broker.

Attached Thumbnails
Is it worth trading chop days?-untitled1.png  
Reply With Quote
 
  #16 (permalink)
Elite Member
Pismo Beach CA
 
Futures Experience: Intermediate
Platform: TOS, IB, Fidelity for 'swing' trades
Favorite Futures: ES, NQ, IBB, IWM, NG
 
heywally's Avatar
 
Posts: 160 since Apr 2010
Thanks: 80 given, 89 received

I love 'chop days' because it fits my trading style, which is to buy (after) dips, in small quantities, during an overall uptrend (clearly, now). Since I trade small, I don't have to be concerned with too tight stops.

"The Future Ain't what it used to be"
Reply With Quote
 
  #17 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Itchymoku's Avatar
 
Posts: 2,892 since Apr 2012
Thanks: 1,681 given, 3,622 received


heywally View Post
I love 'chop days' because it fits my trading style, which is to buy (after) dips, in small quantities, during an overall uptrend (clearly, now). Since I trade small, I don't have to be concerned with too tight stops.

Do you use Rsi for this?

Reply With Quote
 
  #18 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received


Itchymoku View Post
Nice indicator, it worked well? I assume you still use it on trends.

Usually I'd take these trades noted with the red oval

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


The second red oval was at 2:45 pm CST. I don't like to enter a trade after 2:30 pm ... especially on a slow Friday

This chart is a variation of my standard chart.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
Reply With Quote
 
  #19 (permalink)
Elite Member
Pismo Beach CA
 
Futures Experience: Intermediate
Platform: TOS, IB, Fidelity for 'swing' trades
Favorite Futures: ES, NQ, IBB, IWM, NG
 
heywally's Avatar
 
Posts: 160 since Apr 2010
Thanks: 80 given, 89 received


Itchymoku View Post
Do you use Rsi for this?

No, strictly price support areas and my 'feel' for the market, based on experience and the current market context.

I avoid doing any buying during overall serious selling and manage my risk with position sizing and possibly longer time frames.

Mostly trade only from the long side.

"The Future Ain't what it used to be"

Last edited by heywally; August 17th, 2012 at 10:17 PM.
Reply With Quote
 
  #20 (permalink)
 Vendor: www.edevaay.com 
Al,India
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: RKG
Favorite Futures: NiftyFuture
 
devdas's Avatar
 
Posts: 1,547 since Feb 2010
Thanks: 1,460 given, 1,661 received



Itchymoku View Post
I'd like to ask all the successful traders is it even worth trading chop days or hours to make a small but consistent frustrating gain, or to only trade that steady angled trend? Am I reinforcing bad behavior by grinding on chop If I make most of my profits on the trend?

Without trading a chop, a trader cant be successful. They teach many valuable tricks and tactics which are not easily possible on Sim. Trade them in live , they make us feel how valuable a trend can be.

Harvest The Moon
Nest The Market
Reply With Quote

Reply



futures io > > > Is it worth trading chop days?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Chop Indicators Blz17 Traders Hideout 58 February 11th, 2016 01:45 PM
Wife Of Switzerland's Central Banker Trading Francs Days Before A Devaluation kbit News and Current Events 6 January 9th, 2012 12:00 PM
Art Cashin On The First 5 Trading Days of the year kbit News and Current Events 0 January 3rd, 2012 11:56 AM
CFDs - not worth trading? Twiddle The Elite Circle 22 August 25th, 2011 10:21 AM
simple rolling feature including only data days / skipping non data days SARdynamite NinjaTrader Programming 1 July 15th, 2010 01:22 PM


All times are GMT -4. The time now is 11:08 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 2017-12-16 in 0.14 seconds with 40 queries on phoenix via your IP 54.226.34.209