All you need - Traders Hideout | futures io social day trading
futures io futures trading


All you need
Updated: Views / Replies:462,996 / 2,472
Created: by Jeff Castille Attachments:534

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 534  
 
Thread Tools Search this Thread
 

All you need

  #281 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
 
cunparis's Avatar
 
Posts: 2,563 since Jun 2009
Thanks: 1,157 given, 2,030 received


Blz17 View Post
Nice job!!!

The only thing I'd question on that trade (which doesn't matter in hindsight cause you made some loot) is the profit target relative to your risk exposure. You should have been in around 40-41 and your stop should have been below the previous swing low so about 15-16. That puts your risk at least 24 ticks. That was the reason I avoided that particular trade. Perhaps just something to watch for in the future. Either way nice trade!

To be honest I didn't calculate the R/R on that one and you're completely right. I wouldn't have a problem with 21:24 but if it were more than that it'd be tough. I recall a post by Feb on this and he gave the options, the ones I remembered were:

- skip the trade
- take it with 24 pt stop and be much more aggressive on trailing the stop
- take it with the 20 pt stop

Which do you do? I need to find his post to read it again. It seems there are often more than 20 ticks to the last swing pivot.

I got 10 ticks on CL but then gave back a few cause I did a 2nd entry on a 2 bar pullback. 2 bars is ok for the currencies on 5 min but for CL I think you need more than that. What do you think?

150 tick is good for CL, for currencies I'm still reading the Feb thread so I think I"ll leave it at 5 minutes while I get more practice. I don't see how 150 can get you in quicker, the bar will break out at the same time, it's just the 150 tick could have more or less bars. I'll play around with it.

OBV would have prevented another losing trade. But one disadvantage I see with the OBV confirmation is that I have been programming my entries so I don't have to watch every tick. If you want to confirm OBV you have to watch it and it could result in missed trades. in Feb's thread they really stressed that you have to take every trade.

Jeff - please tell us if we're sidetracking your thread. The techniques are very similar so I think it should be ok.

PS: 10 more ticks on CL short at 11:39. Meanwhile ES is chopping away..

Attached Thumbnails
All you need-cl-10-09-9_2_2009-150-tick-.jpg  

Last edited by cunparis; September 2nd, 2009 at 12:44 PM. Reason: added chart (NT is on another pc)
Reply With Quote
 
  #282 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
 
cunparis's Avatar
 
Posts: 2,563 since Jun 2009
Thanks: 1,157 given, 2,030 received

Just realized that CL is really dangerous. The stop is often 30 ticks away. I was being a bit stupid and getting lucky.

Reply With Quote
 
  #283 (permalink)
Elite Member
Seattle
 
Futures Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Favorite Futures: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 266 received



cunparis View Post
To be honest I didn't calculate the R/R on that one and you're completely right. I wouldn't have a problem with 21:24 but if it were more than that it'd be tough. I recall a post by Feb on this and he gave the options, the ones I remembered were:

- skip the trade
- take it with 24 pt stop and be much more aggressive on trailing the stop
- take it with the 20 pt stop

Which do you do? I need to find his post to read it again. It seems there are often more than 20 ticks to the last swing pivot.

I got 10 ticks on CL but then gave back a few cause I did a 2nd entry on a 2 bar pullback. 2 bars is ok for the currencies on 5 min but for CL I think you need more than that. What do you think?

150 tick is good for CL, for currencies I'm still reading the Feb thread so I think I"ll leave it at 5 minutes while I get more practice. I don't see how 150 can get you in quicker, the bar will break out at the same time, it's just the 150 tick could have more or less bars. I'll play around with it.

OBV would have prevented another losing trade. But one disadvantage I see with the OBV confirmation is that I have been programming my entries so I don't have to watch every tick. If you want to confirm OBV you have to watch it and it could result in missed trades. in Feb's thread they really stressed that you have to take every trade.

Jeff - please tell us if we're sidetracking your thread. The techniques are very similar so I think it should be ok.

PS: 10 more ticks on CL short at 11:39. Meanwhile ES is chopping away..

I only take setups where I can maintain my risk to 20 ticks or below. Certainly miss some trades that way but I wanna be here 20 years from now. Once I'm in a trade I'll keep adjusting my stop down to swing highs/lows until either my stop is hit or my profit target. I don't consider this a breakout or breakdown strategy. I consider a trend trading strategy that just uses the breakout/breakdown to confirm the trend.

On CL if I hit 10 ticks I'm out. I suppose I trade more of a breakout strategy on that instrument as I trigger off the breakout and try to get out asap with 10 ticks. If the trade goes against me with CL I'll pretty much walk away immediately. It seems to me that if the set up is right on CL then more often then not the breakout will work. There will still be losers but that's okay, it's to be expected.

I will enter sometimes without an OBV confirmation but then I'll just keep an eye on it. If the OBV fails to confirm after a few bars I'll note that as a possible weakness and possibly be more nimble.

There are plenty of people who trade off that 5 min and do it very well. I just couldn't get comfortable with it but if the 5 min chart is "telling" you what the price action is going to do then by all means stick with it.

Good trading.

Blz

Reply With Quote
The following user says Thank You to Blz17 for this post:
 
  #284 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
 
cunparis's Avatar
 
Posts: 2,563 since Jun 2009
Thanks: 1,157 given, 2,030 received

Blz,

Very good advice on the R/R ratio. I have a few more question if you don't mind and then I think I'll leave everyone alone (dinner time here):

- how many trades / day do you get with CL? And with the currencies?

- do you stop for lunch break? do you trade after?

I think that covers everything. You've been very generous sharing your charts and your experience.

Reply With Quote
 
  #285 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,279 received

Side tracking ?

Hey Blz,

I am very happy to see the direction of this thread ! Besides.... I don't look at it as "my" thread.... it's "our" thread. The original concept was to come up with a simple trading approach using few or no indicators. Focusing on price action. This is definately the direction we're going!! Let's carry on.

Jeff

Reply With Quote
 
  #286 (permalink)
Trading Apprentice
Pakistan
 
Futures Experience: Beginner
Platform: Ninja
Broker/Data: Infinity
Favorite Futures: ES
 
Posts: 8 since Jul 2009
Thanks: 4 given, 0 received

I am using your chart settings. However, the DOTS change color after one or two bars are completed.

Reply With Quote
 
  #287 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,279 received

Dots

Hey Hamq,

What instrument are you trading and what setting is your chart ?

As far as dots changing color..... actually there are three things that should change color.... the 50 EMA the 14 HMA and the Sharky paint bar. All of these are just tools to help us read the price action.

Also, you have made an excellent observation with how dots change color. From what I understand from Big Mike this is often the case.

Why don't you post a chart so we can take a look at it.

Jeff

Reply With Quote
 
  #288 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,279 received

All you Need No colors

Here's a question based on Hamq's observation...... Do we need colors on the moving average and paint bars to trade this template? I posted a "naked" chart with all colors removed. Are the colors a distraction or a help?

Attached Thumbnails
All you need-ym-09-09-9_2_2009-10-range-.jpg  
Reply With Quote
 
  #289 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
 
cunparis's Avatar
 
Posts: 2,563 since Jun 2009
Thanks: 1,157 given, 2,030 received


Jeff Castille View Post
Here's a question based on Hamq's observation...... Do we need colors on the moving average and paint bars to trade this template? I posted a "naked" chart with all colors removed. Are the colors a distraction or a help?

Jeff - to be honest I don't think we need any of the indicators.

I am simming the currencies on 5 min chart and I don't think any indicators are needed. Someone new to the Feb thread at Forex Factory posted a chart and it had indicators. They told him to take them off. They still say they don't need them.

50 ema = we can just look for a higher low or a lower high to know the trend direction. if the higher low (lower high) is not a lot higher (lower) then it's not a strong trend. The thing I am learning from all these charts and threads is that you want to enter after a pullback on a strong move. If you have a strong move then the 50 ema is obviously rising.

14 hma = this one seems to go along with the price so well that you don't need it. Similar to 50 ema on a smaller scale

eco bars = Sometimes a breakout starts with yellow. Sometimes a pullback goes yellow and I exit and then the bar turns red again and continues down. I'm not really sure about these.

It's funny cause the other day I wanted to add LBR or something and now I'm thinking I don't need any of it. this is still a learning process, but I think if one starts with price only then one learns what's needed. If one learns with indicators then we can get hooked on them. Like a binky, a bad habit that's hard to break.

I'm also seriously reconsidering my current ES trading using volume and sine wave cycles. I've been buying weakness justifying it by saying the stop is closer. But I'm starting to think buying strength (breakouts) could be even better. This thread has really opened my eyes.

Reply With Quote
 
  #290 (permalink)
VIP Member
FL
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, 6E, CL
 
Posts: 71 since Jul 2009
Thanks: 159 given, 32 received


Colors help indicate pattern changes/turning points in the market. Without colors it would be tough to make a decision on whether or not to enter the market. Colors are more or less a visual aide to help with decision.

Reply With Quote
The following 2 users say Thank You to jonesr9 for this post:

Reply



futures io > > > All you need

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     


All times are GMT -4. The time now is 02:32 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-14 in 0.14 seconds with 19 queries on phoenix via your IP 54.221.76.68