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Trading fast markets
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Trading fast markets

  #621 (permalink)
Market Wizard
Houston, Texas
 
Futures Experience: Advanced
Platform: NinjaTrader; BloodHound
Broker/Data: NinjaTrader Brokerage, Kinetick, Rithmic
Favorite Futures: ES, CL, 6E, UB, 6J, 6B, ZS
 
Posts: 921 since Oct 2012
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xelaar View Post
Trade locations and directions from higher time frame intra day chart, trade entry and timing from range bar chart. Dropped faster EMAs, left only 200 and 1000 (for positioning). As I forfeited fast trades I have now time to draw trendlines and I believe it helps.

I can't get a sense of direction from the 1 range bars. Very fast. Seems like it would b good to use the higher time frame positions and longer EMAs for timing entries. Super Mario? I like it.

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  #622 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
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jlwade123 View Post
I can't get a sense of direction from the 1 range bars. Very fast. Seems like it would b good to use the higher time frame positions and longer EMAs for timing entries. Super Mario? I like it.

In a sense it is same, trading low frame or high frame. Just adjust your position size and risk. Difference comes if you cross out from single session trading, also you get much less possible entries so can't really be very picky. Also due to longer time in trade you get susceptible to tape bombs, news releases, speeches, and other unpredictable events. I prefer to get them out, impact the market and ride in their wake. Also my ultimate goal is to trade for 1-2 hours at most and be done for the day. That is possible too with high time frames, but to compensate for lack of possible trades in one instrument you need to follow many instruments. I plan to embark again on that road with FX and ultimately trade a couple of simple setups on daily and weekly charts using all instruments available. However I have much more time for now, and prefer to keep racking in the screen time experience as fast as I can. Trading high time frame for me will be a result not the process. You get experience in very slowly with these setups. Hence scalping for me now.

Trade to live. Not live to trade.
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  #623 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
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less rules??


here's a link to a place that might have less constrictive rules.
Tap trading

TradingAdvantage.com

I hope it is of help.
(If you find out the costs please let me know -- I haven't phoned)

Good luck.

Keep your mind in the future, in the now.
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  #624 (permalink)
MATrader
Prague Czech Republic
 
Futures Experience: Beginner
Platform: S5 Trader, Jigsaw, SeasonAlgo, Sierra Chart
Broker/Data: IB/OEC
Favorite Futures: Eurex Futures
 
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Posts: 489 since Nov 2011
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xelaar View Post

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


I am trialing S5 so here is a screenshot from their analytic tool. Decent one, even though nothing special, I can export trade log in csv file and import into my spreadsheet and generate even more stats. But for traders who have no better it is a good option.

Hi Alex,

The beauty of S5TradeAnalyzer is in the ability to see how your parameters change IN REAL TIME (tab Current) if you use scaling in/out and campaigning (i.e. buying/selling the contracts around your entry price for short PTs just to "move" your stop as far as possible). I am not sure if it is anywhere explained, that is why my two cents here .
Hana

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  #625 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,592 received


hadamkov View Post
Hi Alex,

The beauty of S5TradeAnalyzer is in the ability to see how your parameters change IN REAL TIME (tab Current) if you use scaling in/out and campaigning (i.e. buying/selling the contracts around your entry price for short PTs just to "move" your stop as far as possible). I am not sure if it is anywhere explained, that is why my two cents here .
Hana

Hey Hana, yes, but it makes sense only for those who hold their trades longer period of time, like hours perhaps. For me personally Analyzer gives no advantage as I get more statistics from my excel sheets after direct trade log export.

Trade to live. Not live to trade.
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  #626 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,592 received


aquarian1 View Post
here's a link to a place that might have less constrictive rules.
Tap trading

TradingAdvantage.com

I hope it is of help.
(If you find out the costs please let me know -- I haven't phoned)

Good luck.

Interesting, perhaps it is a viable choice for someone, thanks for posting the link.

Trade to live. Not live to trade.

Last edited by xelaar; September 16th, 2013 at 07:33 AM.
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  #627 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,592 received

Since I am back to markets after a week-long complete separation from the world (so nice not to hear news or receive any calls) and I have decided that a best test before making any advances towards live trading with the new system would be to use one of the remaining free shots at the Combine in order to prove the trading rules, plan and discipline to be ready for live market.

If my new take will prove more successful and will work well enough to get me funded again without any Live Trader Preparation or other lengthy delays, I will consider to trade again for TST for a while, or, if my approach will be taken more favorably by them this time (since no slippage on entry puts a question mark on profitability live) I might stay with them. I don't completely discard this option in any case. Since I have to take a 10 days combine (which puts a big strain on profit target delivery) I don't feel like gambling/swinging for fences in 150k combine is a good option for me, since last time I completed it in 26 trading days with very sensible risk management averaging around 640 usd per day, which is not possible in 10 days going for 12k (average must be 1200). So I will chose a smallest combine since hitting 1500 usd target is much more probable in 10 days while exercising a good risk management routine. If I get funded I can get much faster to the withdrawal phase and prove that money can be made with TST, and if they prove to be flexible enough and allow to gradually increase my position sizes, I might stay.

Trade to live. Not live to trade.

Last edited by xelaar; September 16th, 2013 at 07:27 AM.
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  #628 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,592 received

Trading plan

1. Only take trades during the periods of strong directional movement and distant separation of EMAs, aligning in order on 1 range bar chart, and in line with a current swing on M2 chart (i.e. don't call reversals until they are visible)
2. Construct a trend line on two swing high/low points and take a trade on a third touch, where one of the EMAs on R1 chart is in line or close to a trend line
3. Use EMAs 75 and 200 period on R1 chart
4. Use stop of 4 ticks and target of 15 ticks
5. Use trail stop of 4 ticks
6. Only take one trade per trend line, i.e. only one 3rd touch, then wait for a new push and trend line to develop
7. Stop after 3 losers in a row or if 15 ticks down (on full position) on the day
8. Only trade high volatility hours and avoid trading during any press conference, if trading after a news release, don't get involved in initial volatility as it is unlikely that trend lines or EMA can provide any resistance to use tight stops
9. Aim to trade only 2 hours a day, for Combine I will consider from 7-30 AM till 9-30 AM Chicago time

I will trade with this plan for 10 days and then re-evaluate. I will also export trading log and import into my analytics spreadsheet.

Trade to live. Not live to trade.
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  #629 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,592 received

Apparently I am eligible for the 20 day combine as well, not only 10 day. So I have decided to go for 20 day 150k combine again, as this provides the best educational/discipline experience, allowing to thoroughly test strategy and trading plan, and implement gradual risk increase approach I practiced earlier. It will take a bit extra time, but in the end I aim to move to live trading with this method with a confidence and experience, not as soon as possible. Also, if I can get a funded account with TST again and can get a better deal with initial position size, it might be an option too, at least for a time being. New rules make it more interesting as now it is only 4500$ profit required to move to senior trader status and be eligible for withdrawals. With average of 600 usd to be done per day, lesser profit target of 12k seems to be easier and more manageable.

New risk profile will include starting with 5 lots and adding extra 2 lots every profitable day and removing 2 lots every losing day.

My new combine starts tomorrow.

Trade to live. Not live to trade.
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  #630 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,592 received



xelaar View Post
1. Only take trades during the periods of strong directional movement and distant separation of EMAs, aligning in order on 1 range bar chart, and in line with a current swing on M2 chart (i.e. don't call reversals until they are visible)
2. Construct a trend line on two swing high/low points and take a trade on a third touch, where one of the EMAs on R1 chart is in line or close to a trend line
3. Use EMAs 75 and 200 period on R1 chart
4. Use stop of 4 ticks and target of 15 ticks
5. Use trail stop of 4 ticks
6. Only take one trade per trend line, i.e. only one 3rd touch, then wait for a new push and trend line to develop
7. Stop after 3 losers in a row or if 15 ticks down (on full position) on the day
8. Only trade high volatility hours and avoid trading during any press conference, if trading after a news release, don't get involved in initial volatility as it is unlikely that trend lines or EMA can provide any resistance to use tight stops
9. Aim to trade only 2 hours a day, for Combine I will consider from 7-30 AM till 9-30 AM Chicago time

I will trade with this plan for 10 days and then re-evaluate. I will also export trading log and import into my analytics spreadsheet.


Before I start with the combine, there are few changes to the plan to revert it back to its original form (I have modified it to suit smaller short combine):
1. Trade only during strong directional movement and after 75 and 200 EMAs cross on 1 range chart (no trade against momentum, no trading unconfirmed reversals)
2. Select good trade locations from 2 minute chart by going with the current swing, and close to the key levels, and in thinner volume profile areas (less obstructions)
3. Trade from 7 AM till 10:30 AM Chicago time (highest volatility times)
4. Use stop of 4 ticks and targets of 8 and 16 ticks (approx each on half position), no trail stop and no break even (except manually if trade got close to the target but stopped short)
6. Trade entry on either EMA 75 or EMA 200, after one confirmed previous rejection after the cross, with limit order
7. Only consider a trade after a previous rotation had enough movement to hit both targets (for both first entry or any consecutive entry), and both EMAs are on the correct side of the trend line (from last swing before cross to first swing after cross) - trend line is used only to confirm momentum and can be constructed mentally
8. Stop after 3 losers in a row or if 15 ticks down (on full position) on the day

Trade to live. Not live to trade.
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