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TJonS Corn Daytrading
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TJonS Corn Daytrading

  #1 (permalink)
Trading Apprentice
Boston, New England, USA
 
Futures Experience: Beginner
Platform: ThinkOrSwim
Broker/Data: TD Ameritrade
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Posts: 5 since Feb 2013
Thanks: 11 given, 3 received

TJonS Corn Daytrading

Hi,

I am going to start this thread as a public corn daytrading journal. I trend-trade corn futures (front-month) intraday. To any professionals, please point out anything that I am doing wrong, any mistakes I am making. I am a beginner to live trading.

More later.

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  #2 (permalink)
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  #3 (permalink)
Market Wizard
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tjstrader View Post
Hi,

I am going to start this thread as a public corn daytrading journal. I trend-trade corn futures (front-month) intraday. To any professionals, please point out anything that I am doing wrong, any mistakes I am making. I am a beginner to live trading.

More later.

Good luck! I'm sure you know to be careful on WASDE report days...

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #4 (permalink)
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kevinkdog View Post
Good luck! I'm sure you know to be careful on WASDE report days...

Honestly kevinkdog, I would love to know what those are. I am completely technical in my approach. However, I want to learn more about the news reports that effect my market. Can you provide a list or link to one of the important news events for corn?

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  #5 (permalink)
Market Wizard
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tjstrader View Post
Honestly kevinkdog, I would love to know what those are. I am completely technical in my approach. However, I want to learn more about the news reports that effect my market. Can you provide a list or link to one of the important news events for corn?


USDA | Commodity Forecasts | World Agricultural Supply and Demand Estimates


Lots of time there are BIG movements on those days...

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #6 (permalink)
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Thanks so much: That is what I was looking for. Are there any other events that I should be watching for?

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You should also be aware that corn market, as other grains, has price limit. It is 40 cents as of now. That means you can be trapped in a position if you're on the wrong side. It does not happen a lot, but it is something you should keep in mind.

http://www.cmegroup.com/trading/Price-Limit-Update.html

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would love to hear more on the trading of the grains
is there a corn mini? or do you trade the full contract?

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  #9 (permalink)
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bobarian, I trade the full-size contract. There is a mini, but I don't trade it. I like the full-size. I would imagine the volume is less on the mini.

My method is trend following in nature; I will be posting it later. Already made 2 cents per contract, with two trades. One breakeven before commissions, and the other +2 cents! Too bad I am simming it today...

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  #10 (permalink)
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Trading day Tuesday, March 4, 2014


My trades are marked up on the images. I will be including charts usually. Today was just a sim day. I am trading with one contract per trade.

My timeframe: 133-tick.

My indicators: TJS_PullbackChannel(blue channel) and 45 period SMA(Pink line). I also have some labels up on the chart, but I do not use them for this.
The TJS_PullbackChannel is an indicator that I developed. It is essentially a 0.5 coefficient Keltner channel with the period being 22. Type: EMA. This will have the same results as the TJS_PullbackChannel; almost exactly.

My signal for longs is when the lower band of the Pullback channel(pc) crosses above the moving average. I enter long at the ask with a 2-tick stop, and a 2 cent(8 tick) target. As soon as I have two ticks, I move my stop to breakeven. I then trail it 3 ticks below from there.

My signal for shorts is when the upper band of the Pullback channel(pc) crosses below the moving average. I enter short at the bid with a 2-tick stop, and a 2 cent(8 tick) target. As soon as I have two ticks, I move my stop to breakeven. I then trail it 3 ticks above from there.

If the cross has already happened, I will enter when the price closes within the bands. I then manage the trade with the same rules.

I am not in front of my computer all day long, so I don't take every trade. If I miss the crossover, I don't like to chase; rather, I wait for a pullback.

I am using one contract right now.

I let the market have at least the first 5 mins after the open to work things out. I use the front-month contract, the continuos chart, and the extended hours in my calculations. I will only trade during the pit sessions; all trades must be closed before 2:14PM EST.

If anyone is interested in the thinkScript or the formula for the TJS_PullbackChannel, let me know.

Tomorrow I am trading live! Let's see how it goes...

If anyone has any questions, feel free to let me know.

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