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the transition to prop
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the transition to prop

  #1 (permalink)
Elite Member
beirut, lebanon
 
Futures Experience: Advanced
Platform: ninja, metatrader, cqg
Favorite Futures: euro, dax, gold, cl
 
Posts: 6 since Sep 2010
Thanks: 0 given, 4 received

the transition to prop

hello everyone
greetings from beirut, lebanon

ive been trading for a long time. years. started back when i was 16. almost 10 years ago.

i struggled for a few years trading fx but managed to slowly reach breakeven and eventually becoming profitable

im making the transition into prop with great conditions and a great opportunity for me.

im slowly adapting to trading a shorter time frame which is kinda required by me

my focus will be crude and gold. havent decided yet which one ill trade but im leanin towards crude as a more volatile instrument even though ive had a great recent past with gold

my setup will be trading the first pullback after a trend is established.
ive been using a T3 moving average at 21 and another at 55
then i look for price to move above the 2 or below the 2 and catch the first pullback going with the trend

im attaching a chart of possible setups
obviously there will be bad trades. doin alot of practice on market replay and sim

charts i got used to are volume charts. time charts seem useless to me and other types are not so great in my opinion

Attached Thumbnails
the transition to prop-cl-04-12-450-volume-3_2_2012.jpg  
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  #2 (permalink)
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  #3 (permalink)
Elite Member
Toronto, ON
 
Futures Experience: Intermediate
Platform: NT
Broker/Data: IB
Favorite Futures: ES, CL
 
Posts: 148 since May 2010
Thanks: 13 given, 38 received

Intersting strategy. I have some questions


Congrats on starting the journal. I know I will watch it and hope you will keep it up to date.

I am trying to understand your strategy better. What would the combination of conditions be for an entry, using the inputs you listed? I know I get tricked into conveniently finding what worked when I look at a chart after the fact. Are the highlighted levels the only entries on that chart? Are you waiting for the close of the first strong trend bar in the direction of the trend and enter on a stop?

I am familiar with time charts and read them well for my purposes, so I am trying to learn about other types. Are you looking for the same bar patterns? Any specific formations to monitor on volume charts? Thanks and good luck!

Pajot

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  #4 (permalink)
Elite Member
beirut, lebanon
 
Futures Experience: Advanced
Platform: ninja, metatrader, cqg
Favorite Futures: euro, dax, gold, cl
 
Posts: 6 since Sep 2010
Thanks: 0 given, 4 received


Pajot View Post
Congrats on starting the journal. I know I will watch it and hope you will keep it up to date.

I am trying to understand your strategy better. What would the combination of conditions be for an entry, using the inputs you listed? I know I get tricked into conveniently finding what worked when I look at a chart after the fact. Are the highlighted levels the only entries on that chart? Are you waiting for the close of the first strong trend bar in the direction of the trend and enter on a stop?

I am familiar with time charts and read them well for my purposes, so I am trying to learn about other types. Are you looking for the same bar patterns? Any specific formations to monitor on volume charts? Thanks and good luck!

Pajot

Hey Pajot. thanks for the kind words

well the circled areas i highlighted would be entries.
what i want to see is price pushing above moving averages and then pulling back. at this point i would wait for the pullback to take place. at this point once the pullback takes place i look for the keltner macd at the bottom of my chart to start changing direction into the green then i would pull the trigger. same for short entries

usually once price breaks both ma's and i get my first pullback if the trade is successful then i look for another pullback with teh trend which is the second entry you see on my chart.

usually after a second pullback, i wouldnt look for trades anymore because the probability of the short term trend changing becomes higher.

consider using volume charts. in my opinion they are the best at determining the trend and the best at providing entries.

let me know if u want me to explain further.

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