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All you need
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Created: by Jeff Castille Attachments:534

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All you need

  #2061 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
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jdella View Post
Great Job, Jeff. One question, what were your entries based on for trades 2,3,4 as they don't seem to be a break of a swing hi/lo? actually 2 questions, are you finding the 30 range nogap to be the time frame that you like the most?

thanks

As promised....here's more of the rationale for todays trades using the 20 range bar chart.

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  #2062 (permalink)
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CA
 
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cunparis View Post
This is a known limitation of Ninjatrader but there's an easy workaround: Use two DOMs / Strategies.

I always have two DOMs open, I make two copies of my strategy, one "long" and one "short". Put your DOM options to "display selected ATM strategy only". Then you can bracket trading ranges and you can even stop & reverse.

I actually have 4 doms, 2 for my normal trading and 2 for the ORB trade.

I don't use the DOM but try 3a before you select the second order on the DOM and see if this works. I trade directly on the chart and use the chart trader in NT:

1) Right click in the grey area under the chart trader and select OCO (I believe you do this on price in the DOM)
2a) Select an ATM strategy
2b) Place your first stop order. This will cause the ATM strategy to become active. Notice how it placed a * and says 'active'. This is what causes the error if you don't do step 3a)
3a) Select the ATM strategy for the next order. It can be the same one but you can't be on the *active one.
3b) Place your second order. Then you can have a buy above and a sell below both with ATM strategies on the same chart.
4) When the first order is executed the other is cancelled and the ATM starts.

Andrew

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  #2063 (permalink)
Just a boy
Auckland, New Zealand
 
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AR01 View Post
I don't use the DOM but try 3a before you select the second order on the DOM and see if this works. I trade directly on the chart and use the chart trader in NT:

1) Right click in the grey area under the chart trader and select OCO (I believe you do this on price in the DOM)
2a) Select an ATM strategy
2b) Place your first stop order. This will cause the ATM strategy to become active. Notice how it placed a * and says 'active'. This is what causes the error if you don't do step 3a)
3a) Select the ATM strategy for the next order. It can be the same one but you can't be on the *active one.
3b) Place your second order. Then you can have a buy above and a sell below both with ATM strategies on the same chart.
4) When the first order is executed the other is cancelled and the ATM starts.

Andrew

Works perfectly (at least in SIM) - as long as one remembers to right click on Chart Trader first and mark the orders as OCO (as Andrew says in point 1/).

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  #2064 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
 
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I have spent several weeks trading the sbs renko and there are things I like and things I prefer with a range chart. A range chart shows the pullbacks better, they're "hidden" on the sbs renko charts. So i think entering on a pullback breakout on a range chart is a good match for me.

However, where I think sbs renko can be useful is once in the trade. I tend to exit a runner when we hit support or resistance, but often this S/R is only temporary and price continues. I think using renko for managing a runner could help to only exit on a real reversal. This is an idea I'm working on, but my immediate goal is to get consistently profitable with my entries and using a fixed target (same approach as Jeff, first consistent entries & then work on maximizing profit).

A note on stops for Blz - I have found in ES I can use a target greater than my stop. I often have a 2 pt stop on ES and shoot for 2-6 pts depending on the day's volatility. I use tight stops on ES because I enter with the professionals (using volume patterns) and the professionals defend "our" stops.

For Euro I found that a 1:1 ratio was good and asking for more was pushing it.

For CL, I find I need my stop bigger than my target due to the volatility. This used to turn me off, in fact it used to rule out certain setups and trades. But I've learned to get comfortable with this. If I put my stop away from the noise then it's not likely to be hit IF I am correct in my entry. This is a big IF! If I am incorrect, then having a big stop just translates to big losses. It has taken me a lot of practice & screen time, but my win rate is now averaging above 75% so I'm not afraid of stops any more. I've learned to trail my stop behind swing pivots so that when my stop is hit it's usually not the full original stop.

For ES my win rate is even above 80% and I don't even bother putting stops in. I know this will sound crazy and I don't recommend it for everyone, but on ES I only put in an order when I'm pretty sure of my analysis (maybe 1-2 trades/day).

I think the bottom line is one has to be right on their read of the market and get a good entry that will minimize the chance of your stop getting hit. CL pullsback quite a bit so if you enter on a breakout you have to use a wide stop initially and then tighten it as you go. CL trends well so if your initial read is correct and you can sit through an MAE, you'll end up ok.

I've been trading CL every day since September so, like Jeff, it has taken me a while to learn to read it correctly. Yesterday was a losing day for me, completely due to my mistakes and a missed trade. My mistake was discipline, I took a trade that was not in my rules. The missed trade was due to lack of being prepared. CL is not forgiving.

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  #2065 (permalink)
Elite Member
NYC, USA
 
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cunparis View Post
Looks like things might have gotten underway.


Cunparis,
I can't find your post to me on SIM trading... but, of the 3 things you recommended, the only one I haven't done is the market replay or backtesting. I just trade SIM -- live. I am going to try to look at your suggestion. Thanks.

BTW, I note that your dollar and gold inclinations were head on -- at least for the short term. :-)

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  #2066 (permalink)
Trade with the flow
Paris, France
 
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goldilocks View Post
Cunparis,
I can't find your post to me on SIM trading... but, of the 3 things you recommended, the only one I haven't done is the market replay or backtesting. I just trade SIM -- live. I am going to try to look at your suggestion. Thanks.

BTW, I note that your dollar and gold inclinations were head on -- at least for the short term. :-)

If you're trading every day using sim that's great. It's a very good exercise and I still use sim a lot, mostly after I reach my daily goal or if I'm testing out a new method/market/timeframe etc.

Here's one thing I do: If I make a mistake during real trading (sim or real money, real = real time) then I like to redo the trade(s) with market replay after the close or on the weekend. I practice it until I get it right. Repetition builds skill.

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  #2067 (permalink)
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ORB/PUSH INTO CLOSE

For those who have been following the ORB and push into the close trade for CL.....

Cunparis has developed a strategy for the Ninja strategy analyzer and this is what the month of November looked like.

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Not too schabby.

The settings used......25 tick target, 30 tick stop and 15 tick to b/e

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  #2068 (permalink)
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Todays CL

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A few trades from today. I am noticing that CL really likes 00,25,50,75 so I put those horizontal lines on my chart. Then as an experiment I found that the swing high/low on a setting of (1) was actually pretty good on a 30 range bar chart. (faster charts I still would rather draw the lines) and........you may recall that we did an A/B comparison of the sharkfin with the 3 bar reversal.....and they were the same....so I featured the 3 bar reversal indicator here.

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  #2069 (permalink)
Just a boy
Auckland, New Zealand
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP/CQG
Favorite Futures: Whatever moves in my timezone
 
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Jeff Castille View Post
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A few trades from today. I am noticing that CL really likes 00,25,50,75 so I put those horizontal lines on my chart. Then as an experiment I found that the swing high/low on a setting of (1) was actually pretty good on a 30 range bar chart. (faster charts I still would rather draw the lines) and........you may recall that we did an A/B comparison of the sharkfin with the 3 bar reversal.....and they were the same....so I featured the 3 bar reversal indicator here.

Hi Jeff, what was your signal for trades 2 & 3 or is it driven off a small range chart?

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  #2070 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
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Posts: 2,119 since Jun 2009
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steve2222 View Post
Hi Jeff, what was your signal for trades 2 & 3 or is it driven off a small range chart?


Hi Steve,

Yes, I look at the 20 range bar at the same time and those entries will make more sense on that chart.

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