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The Italian Job
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Created: by redratsal Attachments:31

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The Italian Job

  #31 (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, 2,066 received

This is a trade over 6E, entry, as usual, is on the upper Vwap 2SD. The target normally would have been above the VWAP, I noticed a Long Exhaustion on the GOM CD, although Delta value was going up price was not moving accordingly. I wanted to wait and see if PA could pierce the VWAP and turn the slope into negative, as it effectively did. First trade of the day +312 USD
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  #32 (permalink)
Elite Member
Milan (I)
 
Futures Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Futures: FDAX,6E,CL,YM,NQ,ES
 
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This one is with CL, took 8 contracts and 3 hours of trade +906 USD

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I don't know if I'll continue trading, my stomach is burning (probably the culinary weekend), and my Heart Beat measurements (https://futures.io/psychology-money-management/11027-measuring-your-heart-rate-variability.html) are telling me to stop.

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  #33 (permalink)
Market Wizard
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
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redratsal View Post
This one is with CL, took 8 contracts and 3 hours of trade +906 USD

redratsal, as the image is difficult to read could you confirm that you went long at different places as price went down (averaging up) ? is that correct ?

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  #34 (permalink)
Elite Member
Milan (I)
 
Futures Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Futures: FDAX,6E,CL,YM,NQ,ES
 
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trendisyourfriend View Post
redratsal, as the image is difficult to read could you confirm that you went long at different places as price went down (averaging up) ? is that correct ?


Yes, That is correct except I was averaging down, in this particular case, starting from left to right Blue arrows are long entries and magenta is the all out exit.

How to rec trades with NT
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Last edited by redratsal; June 6th, 2011 at 07:57 AM.
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  #35 (permalink)
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Futures Experience: Advanced
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Tip
All my charts are timed CET (GMT+2) therefore you'll need to deduct 6 hours to get NYSE


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  #36 (permalink)
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Futures Experience: Advanced
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GomCD Reinit Session

This 1 contract trade on 6E is done after the opening of the floor session. My gomcd is set to reinit session true therefore the delta value is set to 0, allowing me to understand how the new partecipants of the session are interacting with the past. The better volume on the 5 min chart is helping me spot a breakout. +188 USD

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  #37 (permalink)
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Futures Experience: Advanced
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Find attached the daily report, since NT is calculating profit on each single trade, the percentage profitable is not properly displayed as my trades are aggregated by multiple contracts (scale in) with an average price and a unique price out. Having used 1 contract for the 1st trade, 8 contracts for the 2nd, and 1 contract for the 3rd the total trades should be 3 and not 10 as reported.

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  #38 (permalink)
Elite Member
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Futures Experience: Advanced
Platform: Ninjatrader
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Favorite Futures: FDAX,6E,CL,YM,NQ,ES
 
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Posts: 1,653 since Oct 2010
Thanks: 1,217 given, 2,066 received

Better Volume

I use Better Volume in my 5 min charts to identify low volume, churn, climax and B/O bars. As this indicator is not always reliable, the bars can assume a different meaning according to PA (see file attached), I use the generated patterns as a second thought to reinforce my assumtions on price action or to anticipate its moves. For example if I am already in a trade and I see a churn and climax bar against my trade it helps to prepare me for a temporary move against my trade or vice versa. These thoughts do not apply at the opening of each session, as the market is particularly active and it is recurrent to see climax or churn bars.

Find attached a tutorial of Better Volumel from the OP

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Attached Thumbnails
The Italian Job-better_volume_indicator.pdf  
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  #39 (permalink)
Elite Member
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Futures Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Futures: FDAX,6E,CL,YM,NQ,ES
 
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Posts: 1,653 since Oct 2010
Thanks: 1,217 given, 2,066 received

Timing

Time might play against me, if I am in a trade more than 2 hours with PA going clearly in one direction and against me I need to revise my profit target and try to get out as soon as there is an opportunity (there might not be another chance). There are a lot of opportunities in the market, especially with this kind of setup, I don't need to focus too much on the same trade. I don't analyze the single trade in terms of Risk/Reward but rather as a piece of my daily puzzle, if I use 8 or 1 contracts my only objective is to close in profit, PA will determine the size of it.

It is also important that I get distracted, I don't want to keep staring at my charts, once I set my targets, stops, and limit orders I can take care of other things and come back occasionally on my trade.

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  #40 (permalink)
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Stop n Go


This is my 2 in 1 trade over 6E. I call it Stop n Go; the purpose is to raise the avegare price, in this case closing the trade 1 and buying at a higher price. I closed the 1st trade with a loss of 175 USD because I didn't like PA, especially for the 2 spikes on GomCD, 6E was clearly on a trend and I didn't want to risk more than I already did. I traced the TL and I thought to myself that if the price would go up I could re enter (with the same contracts as I left the trade 1) thus increasing the odds for a better 2nd trade. From a conceptual point of view it is like pausing the first trade and restarting the strategy with better conditions.

I do not reccomend Stop n Go's, but I have to explain my trades and this one was a perfect example.
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Price after Trade 2 continued to rally up


Last edited by redratsal; June 7th, 2011 at 05:19 AM.
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