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MTP

  #11 (permalink)
Elite Member
Yorktown, VA/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Trading Group
Favorite Futures: TF, NQ
 
Razor's Avatar
 
Posts: 47 since Sep 2011
Thanks: 10 given, 18 received

23 Feb ES 03-12 Trade

On the road this week so not as much time to trade.

My game plan going into today (Thur 23 Feb 12):

Game-Plan for the day:

I was initially planning on trading the TF because:

1) Inside Gap down
2) The TF opened below the Buy Day Low (TTT)
3) Based on Taylor Sell Short Day - there was an 87% chance of reaching the Buy Day Low - This gave me a direction to start trading.
4) I was looking to enter at 15min support and exit at the first DP off the last up pivot for a R/R 4.0 trade
5) I would initially manage the trade using the ATR stop

I DID NOT GET TO TAKE THIS TRADE DUE TO A PROBLEM WITH MY TF FEED FROM MY PROVIDER!!

I DECIDED TO TRADE THE ES WITH THE SAME BASIC GAME PLAN

See attached screen shots taken at the end of the day

Lessons learned:

If there is not a good reason to exit prior to your target then DON'T
Let your profits run!

The Secondary WPT off the Major WPT actually nailed the high of the day and it would have been a R/R 5.9 profit

Part of the reason I exited was I was under a time constraint

All-In-All a good trade (R/R 3.0)

Attached Thumbnails
MTP-es-03-12-23-feb-inital-plan.jpg   MTP-es-03-12-23-feb-actual-trade.jpg  

Last edited by Razor; February 23rd, 2012 at 06:07 PM. Reason: Add notes
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  #12 (permalink)
Elite Member
Yorktown, VA/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Trading Group
Favorite Futures: TF, NQ
 
Razor's Avatar
 
Posts: 47 since Sep 2011
Thanks: 10 given, 18 received

Trading Thoughts for winning trades

I am relatively new at trading futures....still developing a trading system & working on building confidence in my system.

Thought this was interesting:

From Denise Shull author of Market Mind Games.... I put into action a couple of things she recommended from her experience with successful hedge fund and bank traders.

Some of the key points that stuck out to me were:

1) On weekends (away from the markets) they come up with their Macro View of the market and the level of Conviction of that macro view (IE: Trading Plan)

2) Their conviction in that view is important because it helps them get through minor wiggles in the market and keeps them from exiting to early and re-entering.

3) They figure out what they believe and how much confidence they have in that belief

4) They articulate their conviction in writing

5) They tend to know in advance what would prove them wrong (IE: what would make them change their mind)

6) Know in advance what you will do when the market does not go your way

Recommend watching the Webinar.

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  #13 (permalink)
Elite Member
Yorktown, VA/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Trading Group
Favorite Futures: TF, NQ
 
Razor's Avatar
 
Posts: 47 since Sep 2011
Thanks: 10 given, 18 received

24 Feb TF03-12 Short Trade


Daily Gameplan:

1) Go short today at a 15min resistance on Daily Charts
2) Look for Short MTP Setups (TTT Buy Day)
3) With the recent run ups.... Holy Grail a possibility
4) Initial DP targets were large on the down side (recent market swings might make these targets, ), however any Auto-setup targets would be considered

Actual Trade (see Charts):
TS4 Short to the Dp for a R/R3.7 on the 24hr chart data

Things going for trade:
1) At Previous days High
2) At 15 min Resistance on Daily charts
3) TS4 Short Setup

Lessons learned / Re-learned:

1) I had a bias to the downside today...and took 3 poor-trades prior to this trade because I was anxious to get in (Novice-Trader Error)
2) Re-learned lesson: just because you have a line a chart dies not mean the market will go there.
3) Was in the MTP webinar this AM after my trade was put on...another member was also in this trade and looking for a Holy Grail. This gave me confidence to move my exit from my DP to the Min Wave-3 Target
4) I followed the price action on the 133T chart with actually was useful in helping determine if the trend was going to continue.
5) Exit at the ATR Stop based on the fact we hit the original DP target (R/R3.7), the ATR trailing stop was approaching the market price, and the TIC charts seemed to indicate a base forming (my perception after watching a number of trades)

Questions I have

1) Which DP levels are more important the 24hr or the Daily ?
- Maybe what ever one the market seems to honor?
2) There were essentially 4 different setups between RTH /ETH charts to take.... all had similar price targets but which one is best?
a. 1min TS4 24hr chart
b. 2 min TS2 24hr chart
c. 1min TS2 Daily Chart
d. 2min TS4 Daily Chart

NOTE: ALL WERE GOOD SET-UPS AND HIT THEIR TARGETS

Attached Thumbnails
MTP-24-feb-12-tf-03-12-short-1-.jpg   MTP-24-feb-12-tf-03-12-short-2-.jpg   MTP-24feb12-tf03-12-short-3-.jpg   MTP-24feb12-tf03-12-short-4-.jpg  

Last edited by Razor; February 24th, 2012 at 04:32 PM.
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  #14 (permalink)
Elite Member
Yorktown, VA/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Trading Group
Favorite Futures: TF, NQ
 
Razor's Avatar
 
Posts: 47 since Sep 2011
Thanks: 10 given, 18 received

Screen shots for Tf Short set us

Here are the four setups that I was looking at in the above questions

Attached Thumbnails
MTP-24feb12-tf03-12-ts4-1min-24h.jpg   MTP-24feb12-tf03-12-ts2-2min-24h.jpg   MTP-24feb12-tf03-12-ts4-1min-d.jpg   MTP-24feb12-tf03-12-ts1-2min-d.jpg  
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  #15 (permalink)
Trading for Fun
Montreal
 
Futures Experience: Master
Platform: Ninjatrader 7
Broker/Data: Interactive Brokers
Favorite Futures: YM and ES
 
Posts: 59 since Oct 2009
Thanks: 3 given, 45 received


Razor View Post
Questions I have

1) Which DP levels are more important the 24hr or the Daily ?
- Maybe what ever one the market seems to honor?
2) There were essentially 4 different setups between RTH /ETH charts to take.... all had similar price targets but which one is best?
a. 1min TS4 24hr chart
b. 2 min TS2 24hr chart
c. 1min TS2 Daily Chart
d. 2min TS4 Daily Chart

NOTE: ALL WERE GOOD SET-UPS AND HIT THEIR TARGETS

I mostly look at 24 hours charts and look for set ups on these charts, sometimes we have almost same ones on min charts RTH. For ETH I use Range charts as that way less noise compare to min charts so much easier to see where tops and bottoms are. If we take today as example we had nice sell signal on ETH charts this was DP area and also 50 % retracements from top, from there they went lower printing a nice abc down at DP area this was also 38 % retracements from yesterday's low and 62% extension from top also we had also 100% extension on RTH charts 5 min so I knew odds of going up 2 points or more from that point were very high. I hope this can clarify some of your ??.

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  #16 (permalink)
Elite Member
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Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Trading Group
Favorite Futures: TF, NQ
 
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Posts: 47 since Sep 2011
Thanks: 10 given, 18 received

Range Charts

Larry

Thanks for the post....

I have talked with other experienced traders that also like range charts...I must admit I do not have any experience with them.

Does MTP work just as well with range charts?

Also do you have a good divergence indicator that you would recommend? I use the Ninja built-in Stochastics (3,14,3) on the minute and TIC charts.

Any recommendations would be much appreciated.

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  #17 (permalink)
Trading for Fun
Montreal
 
Futures Experience: Master
Platform: Ninjatrader 7
Broker/Data: Interactive Brokers
Favorite Futures: YM and ES
 
Posts: 59 since Oct 2009
Thanks: 3 given, 45 received


Razor View Post
Larry

Thanks for the post....

I have talked with other experienced traders that also like range charts...I must admit I do not have any experience with them.

Does MTP work just as well with range charts?

Also do you have a good divergence indicator that you would recommend? I use the Ninja built-in Stochastics (3,14,3) on the minute and TIC charts.

Any recommendations would be much appreciated.

Yes MTP works very well with range charts just load a few and you will see, you will realize you have less noise specially when you are on ETH as time is irrelevant only price and isn't what we are looking for to initiate a trade.

I have a good divergence indicator with good settings that I have found, I even have a sound alerting me when this condition is present if you want more info about it ask Richard from TTT he is the guy that wrote it for me so I am sure he will be able to also give you a few hints but from what I see you are on the right track.

Good Luck


Last edited by Larry; February 25th, 2012 at 12:01 AM. Reason: spelling correction
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  #18 (permalink)
Elite Member
Yorktown, VA/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Trading Group
Favorite Futures: TF, NQ
 
Razor's Avatar
 
Posts: 47 since Sep 2011
Thanks: 10 given, 18 received

Leap Day Trade Lessons

Daily Trading Plan:

1) Looking to go short today (TTT Buy Day)
2) Looking for 15 min Resistance
3) Looking for Divergence (added approach)
4) Looking for a TS Short setup off the 15 min Resistance

The Trade

Markets were not in agreement (Different Gap-ups...Some pushed right through 15min DP resistance)
No TS Setup to use on minute charts
There was a DP on the 133T chart (I like 133T to manage and follow once I am in a trade)
I entered off the 15 min resistance

Lessons Learned:

1) TRADE YOUR PLAN!
2) This really was an easy ATR Trailing Stop Trade....
3) Gave up $1000.00 exiting and then re-entering

Attached Thumbnails
MTP-29-feb-tf03-12-short-ll.jpg   MTP-29-feb-tf03-12-tic-chart.jpg  
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  #19 (permalink)
Elite Member
Yorktown, VA/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Trading Group
Favorite Futures: TF, NQ
 
Razor's Avatar
 
Posts: 47 since Sep 2011
Thanks: 10 given, 18 received

Trade I Did not Take this AM Pre-market

Market Context
Today I was not looking for long trades unless we opened below 805.5
Looking to get short today

Here is an Elliot Wave trade that would have worked out had I taken it
The Trade Setup:
1) Major 5-wave impulsive move down
2) Typically the market will correct to the Dp WPT off Wave-4 of the 5-wave impulsive move
3) Market reversed, indications of a reversal / correction was an oversold indication from the Stochastic indicator and end of Wave-5
4) The setup target was a R/R of 4.7

See attached screen shots for trade

Lessons Learned:
1) The R/R for this trade was very good
2) Fear of loss prevented me from taking the trade so I need to remember:
Entry - actually looked good with good R/R
Exit - controlling risk (Stops) and letting your profits run is all about exits:
Therefore if elect to take a good R/R trade all you have top lose is 1R

Move on don't lament about missed opportunities there is another profitable trade just around the corner
https://futures.io/images/smilies/smile.gif

Attached Thumbnails
MTP-3mar-tf03-12-long-wave-5-trade.jpg  

Last edited by Razor; March 2nd, 2012 at 11:22 AM. Reason: Formatting error
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  #20 (permalink)
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Futures Experience: Beginner
Platform: NINJA
 
Posts: 16 since Jun 2009
Thanks: 2 given, 27 received

MT predictor


I am really enjoying you both using your anylisis, game plam and use of MT predictor.
Good Job . keep posting

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