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The Italian Job
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Created: by redratsal Attachments:31

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The Italian Job

  #91 (permalink)
Elite Member
Milan (I)
 
Futures Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Futures: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,653 since Oct 2010
Thanks: 1,217 given, 2,067 received

My third trade with CL 1 contract, target below Vwap + 236 USD

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  #92 (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
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Excellent job so far, thanks for sharing

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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  #93 (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, 83,220 received



redratsal View Post
It's hard to catch up when you had a long weekend, I have 1000 unread posts on futures.io (formerly BMT). I think taking a break from time to time is good for my trading, although I really enjoy this activity sometimes I feel like I have to change the daily routine, I think it helps focus on other priorities and at the same time it helps my trading biorhythm.

My motto: I'll rest when I'm dead.





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
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  #94 (permalink)
Elite Member
Milan (I)
 
Futures Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Futures: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,653 since Oct 2010
Thanks: 1,217 given, 2,067 received

No trades in a rush

This is a short trade on CL with 2 contracts, original target was on vwap but I closed it at break even because I was in a rush for an appointment; 30 seconds later the market started going down and I missed a 600 USD target.

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  #95 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,697 since Oct 2009
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Big Mike View Post
Excellent job so far, thanks for sharing

Mike

I agree with BigMike. I am really impressed by your trade management and your consistency. At the beginning i had some doubts as your MM looks more like a gambling progression (a type of Martingale) but nonetheless it is interesting to follow your thread. It gives me some ideas.

I am still wondering when you start a new campaign of trades, why don't you wait for the candle to turn red instead of entering exactly at the 2 SD from the VWAP ? Maybe it would lower your risk a bit, no ?

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  #96 (permalink)
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trendisyourfriend View Post
I am still wondering when you start a new campaign of trades, why don't you wait for the candle to turn red instead of entering exactly at the 2 SD from the VWAP ? Maybe it would lower your risk a bit, no ?

I use the 5 minutes chart for my entry signal and to wait for the red candle might be a loss of momentum especially if I go for a 15/20 ticks target. I am sure the method can be improved but I am satisfied with the actual results and I did not test, with consistent data, alternative solutions.

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  #97 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,697 since Oct 2009
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redratsal View Post
I use the 5 minutes chart for my entry signal and to wait for the red candle might be a loss of momentum especially if I go for a 15/20 ticks target. I am sure the method can be improved but I am satisfied with the actual results and I did not test, with consistent data, alternative solutions.

In all of your examples your entries seem to be defined on the range chart. What's your signal on the 5 min ? Don't you place a limit order at the 2nd SD and the other entries at +/- 10 ticks accordingly ?

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  #98 (permalink)
Elite Member
Milan (I)
 
Futures Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Futures: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,653 since Oct 2010
Thanks: 1,217 given, 2,067 received


trendisyourfriend View Post
In all of your examples your entries seem to be defined on the range chart. What's your signal on the 5 min ? Don't you place a limit order at the 2nd SD and the other entries at +/- 10 ticks accordingly ?

Vwap and its standard deviations are on the 5 minutes charts, normally I include it in the left corner (picture in picture) of my trades. Trades are managed with 6R, 12R

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  #99 (permalink)
Elite Member
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Futures Experience: Advanced
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Posts: 1,653 since Oct 2010
Thanks: 1,217 given, 2,067 received


trendisyourfriend View Post
In all of your examples your entries seem to be defined on the range chart. What's your signal on the 5 min ? Don't you place a limit order at the 2nd SD and the other entries at +/- 10 ticks accordingly ?

I will put my rules in the quick summary together with a daily cumulated profit and loss balance

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  #100 (permalink)
Elite Member
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Futures Experience: Advanced
Platform: Ninjatrader
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Posts: 1,653 since Oct 2010
Thanks: 1,217 given, 2,067 received


No more trades for today

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I have updated the quick summary https://futures.io/traders-hideout/11184-italian-job.html

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