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Vovan348 Day Trading TF with NFT setup
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Vovan348 Day Trading TF with NFT setup

  #271 (permalink)
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Good post and comments.

Yes, you are right about the 610 on that run. It was nice.

The # of trades are not a consideration lately as I am trying to stretch myself. Honestly if I was trading cash and this was on the line, I would have been out like I mentioned above with about 3-4 trades and called it a day. I am doing my best to both stay in the game and earn more points as well as hold them longer.

It faked us both out as you mentioned you thought it was going to be 'one of those days' of up up up, and so did I. It definitely fooled me today and that cost me. The market will go through periods like this for a few weeks and range for the first 30 minutes and then all the sudden the market changes again.

To me the 'trick' is to identify that when you could be more aggressive and so forth. Your entry on that last one was very nice. We actually almost took identical trades. The only challenge for me is the 5 ticks are a bitch in these conditions. I actually went more and got my ass kicked.

Whenever I change something I get all goofed up, but you are right that 2-4 trades per day with longer runs is the better way to go. The trick though is cashing in! When I was live, I always found capital preservation more important after a few bad losing days where my EGO couldn't take the hit. I think I could now.

Keep up the good work and soon you will be +4 points a day every day!

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  #272 (permalink)
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Here is something else I wanted to share long time ago and I thought maybe some scalpers want to test it, or use it somehow in their trading.

Couple months ago I crossed through brettwilson69's journal. I didn't go through the details with S/R calculation or his bias, but I liked entry on a second rang bar in your direction. So I tested very simple scalping strategy that needs very basic of PA. You find direction of the market first just looking at Lows and Highs, Double bottom/top and you take a trade on the third bar open in your direction. I used 5 ticks range bars on TF for my testing. Once you are in the trade your stop is 7 ticks which is one tick above/below of the second bar in your direction. You don't have a profit target. You just trail your stop one tick above/below of every bar closed in your direction. When it takes you out you get in after next two bars in the direction of the trend if trend has not changed.

I didn't try it long enough to show win%, weekly monthly PnL etc. All I know that some days it gave me 6-10 points within first 30 mins.

Here is an example from this morning. It was very choppy, but over 3 points could be made. Positive trades "green" negative "red":
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  #273 (permalink)
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vovan348 View Post
Here is something else I wanted to share long time ago and I thought maybe some scalpers want to test it, or use it somehow in their trading.

Couple months ago I crossed through brettwilson69's journal. I didn't go through the details with S/R calculation or his bias, but I liked entry on a second rang bar in your direction. So I tested very simple scalping strategy that needs very basic of PA. You find direction of the market first just looking at Lows and Highs, Double bottom/top and you take a trade on the third bar open in your direction. I used 5 ticks range bars on TF for my testing. Once you are in the trade your stop is 7 ticks which is one tick above/below of the second bar in your direction. You don't have a profit target. You just trail your stop one tick above/below of every bar closed in your direction. When it takes you out you get in after next two bars in the direction of the trend if trend has not changed.

I didn't try it long enough to show win%, weekly monthly PnL etc. All I know that some days it gave me 6-10 points within first 30 mins.

Here is an example from this morning. It was very choppy, but over 3 points could be made. Positive trades "green" negative "red":
Attachment 50594

Yes, I did quite a few systems like this with FOREX about a year ago. I have also tried creating some more systematic approaches using SuperTrend which I have had a love relationship with for about 2 years, but I have yet to find one that works in all market conditions.

I have come to the conclusion that capital preservation (Money Management) is more important than entries or exits.

It is funny as I spent 30 minutes today just going through the TF on a RangeNoGap 6 chart doing the same thing but using the anaMedianPrice and SuperTrend for exits. You don't really need either of those but just playing and seeing.

I think at the end of the day, you could probably strip down everything but the 610, 1597 and 6284 (?) and trade price action. That is why I am so intrigued with PandaWarrior's thread is that nothing special about what he is doing but his rules for money management have kept him out of hot water. That is where NFT/Henry's system really lacks.

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  #274 (permalink)
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+1.1 point

Today was really tough for me!

Really long bars today and a lot of jumping around. We had double bottoms three times today (at least what I saw). I got long before the last one formed, but it jumped down really fast so I got very nervous and got out with -6 ticks. Then I got back again when I saw that setup. I rushed my exit also. My target was 1 point above, but I was afraid of quick move against me and couldn't really think straight.

Really emotional day for me, but I'm glad that I could still think and didn't just click.

Here are my trades and summary:
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This is the end of my third week trading with NFT setup (again). This week I made $320 after $100 fees for 20 trades. This is fine with me. I know it could be more, but I'm learning and suppose to get better and better.
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Here is my video:


Last edited by vovan348; September 30th, 2011 at 01:09 PM.
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  #275 (permalink)
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Great job today. Today was a day of practice for me, and I was just playing around. Trying your new screen setup etc..

What a rangy day of back-n-forth. Glad I wasn't trading seriously or I would be quite exhausted right now!

I ended up positive on the same trade you took, but boy did I get chopped up. LONG BARS.......

Ending up profitable today is a real test in my opinion.

--Oh, it is cool how you took less trades.

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  #276 (permalink)
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Nice trading today, Vovan. It was exciting to see you hang in there on the final trade for a nice gain.
Would you please tell me how you get vertical bars to appear on the other charts. Thanks!

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  #277 (permalink)
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Fibs


vovan348 View Post
Today was really tough for me!

Really long bars today and a lot of jumping around. We had double bottoms three times today (at least what I saw). I got long before the last one formed, but it jumped down really fast so I got very nervous and got out with -6 ticks. Then I got back again when I saw that setup. I rushed my exit also. My target was 1 point above, but I was afraid of quick move against me and couldn't really think straight.

Really emotional day for me, but I'm glad that I could still think and didn't just click.

Please see attached for the fibs I had set. Missed the double bottom myself anyway. High was 664.3, low 643.5. That setting had the double bottom close just below the 76 and reverse.

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Vovan348 Day Trading TF with NFT setup-1597-sept-30-2011.jpg  
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  #278 (permalink)
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@HighRise1202

I'm not sure what do you mean by "vertical bars". If you are talking about vertical lines that's just a vertical line from the drawing tools. You place on the chart then go to properties and in "Attach to" choose "all charts" then hit "Set Default" in the bottom. After that every time you draw it on one chart it will appear at all of them. I find it useful when I'm looking on the swing lows/highs on different time frames. I do the same with horizontal lines. When I see S/R on 144 I draw the line and look at the bigger time frames to see if that level was respected before. You can do it with any other drawing tool if you want to.

Thanks for the chart. I think I wouldn't see it live, or even if I saw it I wouldn't be so sure about that area because it doesn't look like a nice low I would place my fibs from and there were no other pull backs from 23%,38%,50% or 62% that would tell me "this is the right position".

Thanks for sharing!!!

P.S. I just watched my video again and I did see that 76% but at 610 chart. Unfortunately that didn't help me.


Last edited by vovan348; October 1st, 2011 at 03:11 PM.
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Yes, I noticed I 'missed' a few good entries as it was clear on the 610+ tick charts on where the retraces were, but on the 144 it wasn't clear. Hence a different 76% area!

That is where my wife and I always differ is where we put our fibs...

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0.0 points


BE today!

I got little profit from the first trade, but gave it all away.

There was a lot of nice moves today, but I couldn't find another entry.

At the first trade I feel like I got greedy and I moved my target from 76% to 100% extension. I thought I'll close it at 76% if I see support and never did.

We got another deep pull back before 38%. I didn't expect it and took two long losers. We got to 76% right at the news and I didn't take it either. Then we got to 38% on the bigger time frame and I was exited to get in long at the pull back and hold it to 50%. Didn't see entry for long, but got in in very stupid short. I thought we are gonna get some resistance and get another pull back before getting to 50%. And guess what? It took me out, crossed 50% by one tick and moved down.

It was really clear for me at the bigger picture, but I couldn't find right entry on 144. The last trade was the worst trade of the day. I'm kinda upset about that one.

Here are my trades and summary:

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Here is my video:


Last edited by vovan348; October 3rd, 2011 at 12:42 PM.
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