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Just A Dollar And A Dream
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Just A Dollar And A Dream

  #1 (permalink)
Just A Dollar And A Dream
belfast, UK
 
Futures Experience: Intermediate
Platform: Ninja Trader 7 / TOS
Broker/Data: Amp
Favorite Futures: ES
 
druM3's Avatar
 
Posts: 40 since Mar 2012
Thanks: 3 given, 32 received

Just A Dollar And A Dream

I thought after 2 years of reading other peoples journals i would have a crack at my own. Im new to this forum but have spent 100s if not 1000s of hours trailing through FF / T2W etc etc readin, learning and thinking.
To date i have been fairly sucessful and now trade full time. The path to this stage of my trading carear has been bumpy and turbulant but its all been worth it. I started out in July 2010 attending a course at blackcube in Holywood Northern Ireland. This is a small hedgefund run by a friend of mine. After seeing the multiple screen setups and the money that was being made i decided that trading was 100% for me! The next 12 months was then spent buying and reading every course online - some good and some completly ridiculous lol! You name them and i have done them:

5 tic forex
markets mastered
market maker method
h2dt
max
blackdog
sam sieden
etc
etc.....

The result has been a consistant strategy based on everything i have learnt from all of the above plus many many more.

So what do i do?????

My main focus is on EU and AU Futures and occassionally CLE but i would be inclined to say im a forex trader :-)
I trade a 5 tick range bar chart on MT4 and use Ninja for execution and time and sales - I guess you will wonder why I use MT4 for charts when Ninja has a perfectly good charting package built in!!! Its basically because im so used to looking at MT4 but i am trying to get used to Ninjas charts.

Primarily i would say i am a scalper and typically trade for 1 2 1 R2R but this will generally depend on the conditions of the market. If i am in a clear range i will 'scalp' 1 2 1 R2R but if im in a trending scenario i will look for key levels as targets such as 00 & 50 round numbers and support and resistance. As i spent so long studying 15 min trend following systems i can usually work out what the conditions are and set my expectations based on that decision.

I am going to try and post a chart every few days to show my trades and i am going to write up the criteria for each of the trade types that i take. Hopefully this wont generate a barage of 'we dont believe you posts' which i see all but too often on some of the other forums. I dont / wont post accs as that my business but im looking into a screencasting package which will allow me to record my trading and i can post the odd live video showing my trades

So today was a great day! On EU and AU we were really in a range bound market until after London close. As i trade 8am - 4PM i didnt get a chance to benefit from the bigger move in NY. So as we were in a range / mess (TYPICAL MONDAY MORNING) i felt scalping 121 was best until i was proven otherwise. Each trade is taken on my 5 tick RB chart and i use a 7 pip SL and a 7 pip TP (pip / tick same thing lol). The reason for this is because i believe that if the high or low of a range bar is taken out (counter to the direction of your trade) the trade never really works out - and if it does i tend to think its because of smoking the hopium pipe lol.....

Normally i look for double tops and bottoms, regular divergance patterns, ping pong bounces in channels, lower highs in an up move, higher lows in a down move, and trend continuation pullbacks. As i said above i am going to try and document each setup over the next few weeks....

So here is what i did today :-)

EU
10 x +7
2 x -7
2 x BE
1 x -2


AU
7 x +7
1 x BE

So the results were just over 100 ticks / pips.

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"Just A Dollar And A Dream"
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  #3 (permalink)
Just A Dollar And A Dream
belfast, UK
 
Futures Experience: Intermediate
Platform: Ninja Trader 7 / TOS
Broker/Data: Amp
Favorite Futures: ES
 
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Posts: 40 since Mar 2012
Thanks: 3 given, 32 received


And it begins all over again :-) ILl post some charts later on this afternoon.....

"Just A Dollar And A Dream"
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  #4 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
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This was the end of the New York session yesterday. I don't trade Euro, posted this as an example with my 5 tick Range Bar chart.

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This is the London Session today.

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Just took my meds, going back to

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"

Last edited by ThatManFromTexas; April 17th, 2012 at 05:11 AM.
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  #5 (permalink)
Just A Dollar And A Dream
belfast, UK
 
Futures Experience: Intermediate
Platform: Ninja Trader 7 / TOS
Broker/Data: Amp
Favorite Futures: ES
 
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Posts: 40 since Mar 2012
Thanks: 3 given, 32 received

Thats an interesting chart setup.... What is the dashed MA?

"Just A Dollar And A Dream"
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  #6 (permalink)
Just A Dollar And A Dream
belfast, UK
 
Futures Experience: Intermediate
Platform: Ninja Trader 7 / TOS
Broker/Data: Amp
Favorite Futures: ES
 
druM3's Avatar
 
Posts: 40 since Mar 2012
Thanks: 3 given, 32 received

Didnt get a chance to post any charts yesterday as my 2 daughters were using my office as a playground - 1 is 8 months and the other is 2.5.... very hectic when trying to trade lol

Anyway here is my marked up chart from this morning. Im going to write up my entry types / strategy tonight and post it :-)

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70 ticks in total with no losers - cant complain about that. i reduced the target to 5 ticks due to some observations i have been making. When my patterns appear the market tends to make at least one full bar after the fill so essentially that is 5 ticks - kinda makes sense but then you have no chance of benefiting from the larger runs.

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Just A Dollar And A Dream
belfast, UK
 
Futures Experience: Intermediate
Platform: Ninja Trader 7 / TOS
Broker/Data: Amp
Favorite Futures: ES
 
druM3's Avatar
 
Posts: 40 since Mar 2012
Thanks: 3 given, 32 received

I was watching the videos on tradeitdontdateit - holy smokes hopefully someday ill be doing that lol!!!!

Any way today was a good day agin on the euro - it was a bit of a mess this morning but some nice channels and trendlines with multiple touches! The bigger swings this afternoon tied in with som channel breakouts so i managed to hold a few trades for more than the normal 5- 7 ticks.

ILl post the charts when im finished :-)

"Just A Dollar And A Dream"
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  #9 (permalink)
Just A Dollar And A Dream
belfast, UK
 
Futures Experience: Intermediate
Platform: Ninja Trader 7 / TOS
Broker/Data: Amp
Favorite Futures: ES
 
druM3's Avatar
 
Posts: 40 since Mar 2012
Thanks: 3 given, 32 received

Friday was the type of morning i dream off lol! A nice clear channel on the range chart with obvious upper and lower trend lines. I only traded from 730 to 11 and managed to squeeze out 63 ticks. Not bad at all! Still trying to work out best fixed targets for the setups but havnt drawn ny conclusions yet! ATM im thinking in a range ill just scalp 1 4 1, in a trend ill try for 10 or so and in the channels with the beaut trend line bounces ill shoot for 5 - 10. Its all trial and error but the results have been great. Here is the chart from Friday morning......

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Just A Dollar And A Dream
belfast, UK
 
Futures Experience: Intermediate
Platform: Ninja Trader 7 / TOS
Broker/Data: Amp
Favorite Futures: ES
 
druM3's Avatar
 
Posts: 40 since Mar 2012
Thanks: 3 given, 32 received

My Setups


So what are my setups?

Well the methods that i use to trade are from a selection of the courses i mentioned earlier. All my trades are taken on a 5 Tick Range Chart. Until recently i used a 1 minute chart but when i discovered constant range bars i quickly switched.

The first thing i look for is trend lines and channels. It still amazes me how unreal TL and Channels are on range charts. Once a third touch happens and the market shows a rejection im all over it! Really it is unreal how high a success rate these trades have :-) I also monitor the 5 minute chart with a selection of indicators that wont work properly on the range chart! This includes the 5 min 15 min and 1 hr 55 ema, pivot points and % levels based on the open price that day. I watch carefully to see what way price on the 5 tick chart reacts at these important levels

SETUPS.

1. Trendline and channel bounces.
Basically with this im looking for clear trend lines with 2 touches and i draw the line out much further than the current price action! If i see a rejection on a 3rd or more touch such as a pin / 2 bar reversal ill take the trade. If i get a close outside the channel ill consider a trade but often prefer a break and retest.

2. Double Tops & Bottoms
I always pay attention to these trades! Im looking for a DT or DB with a break of the high or low with regular MACD or CCI divergence. The best ones are where the 2nd high or low is actually a pin that sucks back into the first high or lows peak. AWESOME setup but 100% has to have a divergence

3. Trend Structure
This is broken down into a few different trades. The first being a trend pull back Once the structure of a trend is clear such as higher highs and lows ill be looking for trend continuation setups! Basically this involves a pull back with a reversal pattern such as a 3 bar or 2 bar reversal. I often use a fib tool on pull backs and also like to see hidden divergence on the cci - if the structure is right you generally get a further push! At this stage i also look at the size of the swings. I like to see similer size in the swings or i start to think its running out of steam and if there is regular divergence forming ill be convinced a reversal is coming! The second part of this is looking for lower highs in an uptrend and higher lows in a down trend! Obviously tif the market fails to make at least a DT or DB never mind a fractal break its fair to expect a move in the other direction (remember i am a scalper so im not looking for homeruns).

4. Regular Divergence
When the market is making a trend move i like to take counter trend scalps as well as continuations trades. I look for higher highs in price and lower highs on the MACD. Again this is a great setup as what may just be a pull back usually is big enough for a small winning trade counter trend.

On all of the trades above apart from the DT / DB with a pin i use the OSMA 5345 as an entry trigger! I want to see a close above or below the water line (zero line) as my entry trigger!

I have found over time that this is an excellent confirmation and if you think about it it makes sense as the setup occurs and the confirmation is generated by the MA cross which is generating the OSMA signal so in theory its showing enough momentum in the setup to cause the water line cross! HOPE THAT MAKES SENCE :-)


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