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The Italian Job
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Created: by redratsal Attachments:31

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The Italian Job

  #11 (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
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Short Memo

I live in Europe and l like to trade CL and 6E during the UK session, the markets are often less volatile if compared to the US session. Quite often I reached my daily targets before the US starts. My daily targets are not based on fixed values but rather on my mind set, generally I do not have more than 5 daily trades.

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  #12 (permalink)
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redratsal View Post
I live in Europe and l like to trade CL and 6E during the UK session, the markets are often less volatile if compared to the US session. Quite often I reached my daily targets before the US starts. My daily targets are not based on fixed values but rather on my mind set, generally I do not have more than 5 daily trades.

What are you risking per reward?

5,000 USD for how much USD profit?

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  #13 (permalink)
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bluemele View Post
What are you risking per reward?

5,000 USD for how much USD profit?


My approach is analyzed trade by trade, the R/R might change from time to time, I do not use it. Scaling in might be very dangerous therefore I decided to set a 5000 USD Management stop loss based on my MAE and my recovery time. I do not want to show data based on my backtests but rather comment from time to time my daily trades.

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  #14 (permalink)
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redratsal View Post
My approach is analyzed trade by trade, the R/R might change from time to time, I do not use it. Scaling in might be very dangerous therefore I decided to set a 5000 USD Management stop loss based on my MAE and my recovery time. I do not want to show data based on my backtests but rather comment from time to time my daily trades.

Ok, this is quite different, so where is the maximum loss you would sustain, or there is none? You would just 'feel it' etc..?

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  #15 (permalink)
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bluemele View Post
Ok, this is quite different, so where is the maximum loss you would sustain, or there is none? You would just 'feel it' etc..?

5000 USD as mentioned in video 3

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  #16 (permalink)
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Vwap Bands

With concern to Vwap Bands there is a debate on the forum, please refer to this thread https://futures.io/ninjatrader/11097-vwap-volume-weighted-average-price-bands.html. Some Vwap indies are plotting the bands correctly and some others are not. I have been talking with Fat Tails and his indicator together with the hvwap are plotting correct Standard Deviations. I am posting my vwap, which apparently is not always plotting correct bands. Having always tested my results with this vwap I will not change it.

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  #17 (permalink)
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Very interesting, we both start the day trading the UK session (I trade 6E and 6B) and we both use VWAP.

I'm looking forward to see how you trade it, because I see price bouncing from the VWAP lots of times, if we start the day with a rising VWAP any cross below seems an opportunity to buy (not blindly waiting for signals, etc). I think that the VWAP is the only indicator that I added to my charts without "other people beliefs" to see by myself how price reacts to it. The only thing I added to it was the slope color you told me on my journal, it's really helpful. I tend to see it like "50% fibs", I like to take profits on it but I can't enter a trade just because "a 50% fib". Looking forward to see more setups, thanks for sharing it.

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  #18 (permalink)
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In this trade target was originally set below TL1 but the price never reached the target. Theoretical profit +227 USD
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The price went down and I scaled in 4 contracts, new Target was moved according to LH and LL and the new TL2. The trade was closed below TL2 with +583 USD
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That was my last trade for the day.
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Note:

Gom CD was showing a low volume activity

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  #19 (permalink)
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on 6E 60 min chart we are on a 2 days range

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if price stays within the range we have good opportunities

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Warning: If the price should go below the lower range at 1.4360 we have a possible 100 pips jump until the next support

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  #20 (permalink)
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CL on the 60 Min broke the lower range and dropped for more than 200 pips. There are + 100 pips between the range and the next support. Hazardous to scale in under these conditions; if I am in a trade I get out as soon as possible.
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Breakout and churn bars on the better volume are persistent

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