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Short term TF trading


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Short term TF trading

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  #41 (permalink)
Aurora, Il USA
 
Experience: Advanced
Platform: TradeStation
Trading: futures
 
kbit's Avatar
 
Posts: 5,902 since Nov 2010
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Indextrader, have you considered going to a higher time frame tick chart like 1597 (pretty good one for me) and taking less trades but pay more than the smaller frame stuff.

In addition to that, the higher frames weed out a lot of the noise/garbage. You would have less trades which reduces stress and so forth as well as paying you enough just off 1 or 2 trades...not to mention not having all those fees and comissions to pay......

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  #42 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


kbit View Post
Indextrader, have you considered going to a higher time frame tick chart like 1597 (pretty good one for me) and taking less trades but pay more than the smaller frame stuff.

In addition to that, the higher frames weed out a lot of the noise/garbage. You would have less trades which reduces stress and so forth as well as paying you enough just off 1 or 2 trades...not to mention not having all those fees and comissions to pay......

You're spot on. If I can't control the over-trading, that's exactly what I'll do... go to a higher timeframe. I've also looked a little bit into the renko charts. They filter out a great deal of noise.

Day's like today happen though as a descretionary trader. I don't lose my confidence. I'll only drastically change things if my results get out of ordinary... drawdowns unlike normal, etc.

As for now my track record for the year is something to be proud of... both P/L and drawdowns.

Have you ever looked at the renko charts?

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  #43 (permalink)
Aurora, Il USA
 
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kbit's Avatar
 
Posts: 5,902 since Nov 2010
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indextrader7 View Post
You're spot on. If I can't control the over-trading, that's exactly what I'll do... go to a higher timeframe. I've also looked a little bit into the renko charts. They filter out a great deal of noise.

Day's like today happen though as a descretionary trader. I don't lose my confidence. I'll only drastically change things if my results get out of ordinary... drawdowns unlike normal, etc.

As for now my track record for the year is something to be proud of... both P/L and drawdowns.

Have you ever looked at the renko charts?

Yeah, I've looked at renko and they just don't do anything for me but then I only can use conventional ones with Tradestation. Rjays hybrids look pretty good, if I used Ninja I would definitely try those out.

I use ticks and Kase bars which are great ....The ticks are a 2000 and a 1597, I don't use anything smaller than that for TF

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  #44 (permalink)
Houston,Tx
 
Experience: Advanced
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: TF
 
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Posts: 2,302 since Feb 2010
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indextrader7 View Post
I had some serious overtrading today.



Ended up loading up on a big trade and getting back to breakeven ($) for the day. Still negative ticks though.

@indextrader7

If this is the worst thing that ever happens to you ... you'll live to be 100 ...

Sometimes a different perspective helps....




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

My daddy always said, "Every day above ground is a good day!"
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  #45 (permalink)
Buffalo, NY
 
 
Posts: 5 since Apr 2012
Thanks: 8 given, 1 received

I'm new around here so please forgive my ignorance but I was wondering, how are you computing the ticks you report?

I don't understand how you can have negative ticks and positive P/L. Are you only counting ticks gained / lost per trade, not per contract?

Why do you choose to report your stats this way?

Also, what other statistics do you keep for your performance and why do you find these valuable?

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  #46 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


heiermonster View Post
I'm new around here so please forgive my ignorance but I was wondering, how are you computing the ticks you report?

I don't understand how you can have negative ticks and positive P/L. Are you only counting ticks gained / lost per trade, not per contract?

Why do you choose to report your stats this way?

Also, what other statistics do you keep for your performance and why do you find these valuable?

Ticks computation:

If I buy 2 contracts at 100.00, sell 1 at 100.10 and the other at 100.00. That is +5 ticks for my calculations. Half the trade made 10 ticks and half the trade made zero ticks. That is 5 ticks on the trade.

For me, it's the most true way to calculate my performance. If, such as in the above example, I could have earned 10 ticks on the trade, but I only earned 10 ticks on HALF my position. That's not earning 10 ticks for THE WHOLE TRADE.

How could I have negative ticks and positive P/L?
Long 1 contract on a trade and I lose -10 ticks and $-100.
Next trade, long 25 contracts and earn +5 ticks and +$125.
Net for the day:
-5 ticks, +$25.

Other stats I keep... please watch my video where I walk through my entire stats sheet. It's on my indextrader7 youtube channel. If you have any questions as to what I cover there, or why I have something, please don't hesitate to ask.

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  #47 (permalink)
Houston,Tx
 
Experience: Advanced
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: TF
 
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Posts: 2,302 since Feb 2010
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indextrader7 View Post
Ticks computation:

If I buy 2 contracts at 100.00, sell 1 at 100.10 and the other at 100.00. That is +5 ticks for my calculations. Half the trade made 10 ticks and half the trade made zero ticks. That is 5 ticks on the trade.

For me, it's the most true way to calculate my performance. If, such as in the above example, I could have earned 10 ticks on the trade, but I only earned 10 ticks on HALF my position. That's not earning 10 ticks for THE WHOLE TRADE.

How could I have negative ticks and positive P/L?
Long 1 contract on a trade and I lose -10 ticks and $-100.
Next trade, long 25 contracts and earn +5 ticks and +$125.
Net for the day:
-5 ticks, +$25.

Other stats I keep... please watch my video where I walk through my entire stats sheet. It's on my indextrader7 youtube channel. If you have any questions as to what I cover there, or why I have something, please don't hesitate to ask.


Glad to see someone else who keeps their own stats. I still do them on spreadsheets which is a step up... I used to do everything with a pencil and paper ... ok, I'm old and decrepit... so sue me


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

My daddy always said, "Every day above ground is a good day!"
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  #48 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Internet is down at the moment. Rgghhh.

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  #49 (permalink)
Houston,Tx
 
Experience: Advanced
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,206 given, 4,331 received


indextrader7 View Post
Internet is down at the moment. Rgghhh.

@indextrader7

It could be worse... https://futures.io/traders-hideout/19689-outage-live-position-ninja-yikes-what-do.html

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

My daddy always said, "Every day above ground is a good day!"
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  #50 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


We're back online baby. Kick the tires and light the fires.

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