Hi Lance,
You always amaze me at your exceptional quality of videos and great insight. Thank you as always.

Hi everybody. Haven't posted in a while. Here's a video of today's trades. This one shows me actually commenting while I'm trading the session as opposed to my usual recap style videos. Let me know if you like this format better.

Nice post. Good trades excellent risk n exit management.

Journey trade discretion or criteria for entry? How many positives to enter?

Trade more not less. Interesting style but not very dynamic.

Very binary very linear. How would you scale?

Can't be wrong 2x or you wipe out the gains.

How many kits let figure it out with fees commission slippage

More trading

Just fun questions

Thanks for posting

HiLatencyTRDR HLT 

Nice post. Good trades excellent risk n exit management. Journey trade discretion or criteria for entry? How many positives to enter? Trade more not less. Interesting style but not very dynamic. Very binary very linear. How would you scale? Can't be wrong 2x or you wipe out the gains. How many kits let figure it out with fees commission slippage More trading Just fun questions Thanks for posting

Thanks for watching and your comment. I'm not sure this one video really gives the full picture behind what I do. I really go into that in detail in the webinar I did for Futures IO called Taming the Beast. But for the most part I trade with twice the profit target as the stop loss, and I go all in and all out. I find no benefit to breaking even early and taking off contracts. I chose this style after many years of live testing, record keeping and statistics where I know what my win rate is and the mathematics required to be consistently profitable. It has taken close to 12 years to be at this point.
[B]Journey trade discretion or criteria for entry? How many positives to enter?
This is just something I do when I see a huge selloff in NQ. It becomes quite obvious by the speed of price and it also depends on having very little in the way of support below. From watching NQ exclusive for the last seven years on a variety of timeframes, I can eyeball this type of condition on my 5 range chart. So the criteria is basically the same as all my other trades..Identifying an immediate directional move, ensuring there is little to no significant support or resistance, and finding a low risk entry where my 50 tick stop is preferably behind the last swing high or low. NQ loves to retest price swings multiple times and is prone to very whipsawing, bouncy moves. No real indicator is going to help me as much as just knowing from experience it's patterns. So then the idea on the journeyman trade is to just ride out the move as long as possible until either I am satisfied with the ticks reached or the last swing high or low is taken out. Again, it is rare that I do that.
[B]Can't be wrong 2x or you wipe out the gains.
In one of my recent videos entitled "A new mindset", I address the win rate and how I stopped worrying about having a winning day or a winning week. Instead I focus on identifying those moments where I feel the market conditions are optimal and my preferred setup occurs. This means I have to, at least for a few moments have a very strong idea of the immediate direction, the right amount of momentum, not too much crazy volatility..everything must put the probabilities in my favor. Then for the most part, enter the trade and interfere as little as possible. Some days I take more trades because there are more good setups. Some days I don't trade at all if I don't like what I am seeing. But only a 50% win rate is needed to do well and I do better than that on average. So, the idea is to take all great setups and let the math play out.
How many kits let figure it out with fees commission slippage
Not sure what you mean here exactly. In most of my videos, I trade two full contracts. At that small size, I see very little slippage. I have traded up to five contracts and may do that again..but at the time it was kind of stressful. I had a sort of "fight or flight" adrenaline reaction and after several months I feel it gave me something called adrenal fatigue, from all the epinephrine expenditure. At the time, I was basically using a 1:1 risk/reward ratio and it was stressful to have the high win rate required to do well. This last video, I was already up 350 ticks on the week. In fact I wasn't even going to trade live Friday because I had an appointment at 10:20 . But then I decided to do a few trades with only 1 contract which is what you see in this last video. I have been averaging the last few months well over 100 ticks a week and many weeks over 200 to 300 with this current system. That is the best I have ever done so I am very happy where I am at right now. The goal is to keep building the account, eventually work up to more contracts and do very well.

Lance,

Thank you for taking the time to do such a great write up and follow up.

You are above board

Thank you

How many ticks or points to break even or to wipe out gains.

Not kits sorry.

Suggest trading 2 contracts minimum and leaving a runner, with runner stop placed 2 ticks above breakeven as price moves in your favor. I trade the NQ daily with goal of 75pts average daily. I have a different method for entries and exits, which I am unable to share, since proprietary (paid too learn). When trending, runners can pay big. Range days, suggest scalping the runners and trail the stop as long as possible. I mainly trade NQ, but also ES, CL, RTY, YM and micros. I enjoy trading options on futures intraday and swinging, along with equities when waiting for setups or day done with futures contract. Stick to the method that works for you and look for one good trade at a time, that is my focus.

redbarntrades 

Hi Lance and followers, This is an offshoot from Lance's TrendGraber. I used the TrendGraber with the 5 range , only to find that I seemed to work better with a time based chart. After watching a recent Al Brooks Scalping video (trading the 15 sec), I considered the TG with the 15 second chart. I personally don't care for the band that comes with the indicator so I hid those 3 lines and replaced with colored EMA's. The chart below reflects what is easier for me to interpret. I set up the chart this way: 15sec. NT8, MNQ/NQ 50 levels Previous POC's of RTH (plotted pre-market each day and locked) Previous days HLC. 20 and 200 colored EMA's TrendGraber set to 20 EMA, changed both "above bars" to green and both "down bars" to red and both "between bars" to yellow. jprMoving Average Crossover BC (futursesio) set to 8/13 EMA. The latter provides the EMA cross as a background instead of the lines as there are enough lines on the chart. This has helped me stay true to the trend and stop looking constantly for a reversal. When the EMA's are flat (ish), I box that area out and look for a breakout/breakdown. Sloping MA's are key to staying out of the chop. I am just playing a color game as you can see in the chart. Green- longs and Red-shorts. In this case, the WaveTrend actually does make a difference and can provide great information as in divergence and follow through. Of course, many don't use oscillators which is fine. Primary focus is trade with the 20/200.

Hi RBT,
I'd like to recreate your setup here in Sierra Chart for backtesting, but...

1) I don't see any record of the 'jprMoving Average Crossover BC' indicator in Downloads, or discussion elsewhere on the forum. Is it a custom MACD-type indicator like shown at bottom of your screenshot?

2) TrendGraber appears to consist of 3 moving averages, but I don't know which exactly...the original author (Raghee) used an EMA-34 and SMA-20, with HLC average as input instead of Last price, I think. I downloaded the 'mahTrendGraber v2' indicator from Ninjatrader's site, and am reviewing the source code now.


Can you elaborate on this setup?

ClutchAce 

Hi RBT, I'd like to recreate your setup here in Sierra Chart for backtesting, but... 1) I don't see any record of the 'jprMoving Average Crossover BC' indicator in Downloads, or discussion elsewhere on the forum. Is it a custom MACD-type indicator like shown at bottom of your screenshot? 2) TrendGraber appears to consist of 3 moving averages, but I don't know which exactly...the original author (Raghee) used an EMA-34 and SMA-20, with HLC average as input instead of Last price, I think. I downloaded the 'mahTrendGraber v2' indicator from Ninjatrader's site, and am reviewing the source code now. Can you elaborate on this setup?

Hi there,

The background can be found on futuresio. "Ninjatrader 8" indicators. Select the "M" and scroll down til you find "Moving Average Cross Over Background Color".

This TrendGraber is the one that Lance has used. There is an upgraded version. If you have the old one, don't delete it when you download the upgraded one. I prefer the older version

I altered the indicator by making the both above bars green and both the below bars red. Both between bars yellow.

I turn the 3 channel lines transparent and use the 20ema and the 200ema instead. The TG is set to 20 Ema.

Hope this answers your question. Cheers!

ps. The red/green areas on the WaveTren are nothing more than Locked Region Highlight Y drawing tools.

redbarntrades 

Hope this answers your question. Cheers!

Yes sir, much appreciated!

Thanks for all your Nasdaq insight! I am starting my Nasdaq journal and journey with a journal! You are a inspiration!