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Short term TF trading
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Created: by indextrader7 Attachments:289

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Short term TF trading

  #101 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received

I realized over the weekend that my trading for the year has been TERRIBLE. Even though I've been quite profitable with minimal drawdowns... the actual trading has been just awful.

Things I've noticed about my trading up to this point:

I've often been "lost" with no bearing as to potential swings of the market- from being too glued to tiny 50 tick timeframe and not seeing the "bigger" picture. So I will now trade more of the 250 tick swings. Often times that will only be a 10 tick profit target, but sometimes it will be 20 or more.

Loading up on too many contracts. So now I say to you the max position size allowed is 4 contracts.

I have to go for now, but there's more.

Get ready for a new IT7.

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  #102 (permalink)
Trading Apprentice
St. Cloud MN
 
Futures Experience: Advanced
Platform: ninja
Favorite Futures: CL,TF,6E,GC
 
Posts: 15 since Feb 2011
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indextrader7 View Post
I realized over the weekend that my trading for the year has been TERRIBLE. Even though I've been quite profitable with minimal drawdowns... the actual trading has been just awful.

Things I've noticed about my trading up to this point:

I've often been "lost" with no bearing as to potential swings of the market- from being too glued to tiny 50 tick timeframe and not seeing the "bigger" picture. So I will now trade more of the 250 tick swings. Often times that will only be a 10 tick profit target, but sometimes it will be 20 or more.

Loading up on too many contracts. So now I say to you the max position size allowed is 4 contracts.

I have to go for now, but there's more.

Get ready for a new IT7.


I like it, sometimes we all need to take a little step back and re-asses what we are doing. I didn't see the thread for a while at et, good to see it continuing. I'm mostly just a lurker here but I'll be lurking.

All the best.

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  #103 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received



zr1trader View Post
I like it, sometimes we all need to take a little step back and re-asses what we are doing. I didn't see the thread for a while at et, good to see it continuing. I'm mostly just a lurker here but I'll be lurking.

All the best.

Good to see you here zr1

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  #104 (permalink)
Trading Apprentice
Orlando, Florida, USA
 
Futures Experience: Advanced
Platform: eSignal
Favorite Futures: CL
 
Posts: 33 since Oct 2010
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cma6 View Post
Steve, can we infer from your comment that you are basically a breakout trader as opposed to a range trader?

No...both. The scale-in is done on a bar-by-bar basis, not on a price swing basis (as the forum host had shown recently in an unsuccessful trade sequence). Basically, you want successively higher HLC's (high, low, closes per bar) in a rising price segment or lower ones in a falling price segment to qualify adding. [A "price segment" doesn't have discernible "legs" to it on the same time frame as you're trading it on; therefore, it exists in ranges and trends]

From a money management point of view, you're keeping your draw-down per trade fairly fixed and relatively small while *not* limiting the positive effects of the contract leveraging on the trade, regardless of how long the price segment may turn out to be.

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  #105 (permalink)
Trading Apprentice
Concord, NH, USA
 
Futures Experience: Intermediate
Platform: none
Favorite Futures: stocks
 
Posts: 2 since May 2012
Thanks: 1 given, 0 received

Price segment?

I understood this valuable insight with the exception of this: " [A "price segment" doesn't have discernible "legs" to it on the same time frame as you're trading it on; therefore, it exists in ranges and trends]".
I figured that a "price segment" was simply a HLC bar in whatever time-frame your chart is.

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  #106 (permalink)
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Birmingham, AL
 
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Long off the
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  #107 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
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Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received

Long for 2nd retest of same level.
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  #108 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received

Took half off, added half back on
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  #109 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received

OUT
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The following user says Thank You to indextrader7 for this post:
 
  #110 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received


Will be looking for a short in this area
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