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YM scalping


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YM scalping

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  #11 (permalink)
Malaysia
 
Experience: Beginner
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Trading: Fx
 
torroray's Avatar
 
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I observe that Ym started to move around 6 am before US open after you post the range period.

Does this occurs frequently?

What sort of volume trading during that time?

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  #12 (permalink)
malmo sweden
 
 
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mikorn83 View Post
Again the YM is in range during the EU session. There's Jobless Claims data coming in almost 5 hours. System showes me many signals to enter a trade, but I have to wait for a clear breakout. Right now it is jumping from 16304 to 16285.

You quote the 15 min chart - How do you utilize it. Perhaps to check overall trend on a higher time frame ?

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  #13 (permalink)
Gdansk/Poland
 
 
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yes, I use it to see a trend on a larger timeframe and also to see support/ resistance levels.

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  #14 (permalink)
Gdansk/Poland
 
 
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torroray View Post
I observe that Ym started to move around 6 am before US open after you post the range period.

Does this occurs frequently?

What sort of volume trading during that time?

The volume is usually lower during the EU session, but mostly there are 2 or 3 opportunities to scalp for 10-15 ticks. If there's some major news coming from US than I don't trade because the volume is close to zero for YM and I have to wait for US session. But mostly it is good enough to make few trades before US open. I also tried to use this system on NQ and FDAX. With Nasdaq the volume is completely low to trade before US open and with FDAX it is not good, the volatility is high and this system just showes me many false signals () maybe it could work for somebody, but not for me). For my live trading I use it only for mini DOW. My SL is 6-8 ticks so I risk just $30 to $40 per trade and I go for 10 to 15 ticks during the US session. While trading in the morning EU session my SL is 4-5 ticks and I go for 5 to 6 ticks profit target.

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  #15 (permalink)
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Please post more pre US open charts.

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  #16 (permalink)
Gdansk/Poland
 
 
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torroray View Post
Please post more pre US open charts.

sure I will

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  #17 (permalink)
Malaysia
 
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Do you have any problem when sending orders to the exchange since you in Europe.

Does the lag make it worse when a major news event about to release?

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  #18 (permalink)
Gdansk/Poland
 
 
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torroray View Post
Do you have any problem when sending orders to the exchange since you in Europe.

Does the lag make it worse when a major news event about to release?

No, I don't have a problem since I use 100gb/s internet connection which is great but veeeery expensive. And it doesn't lag during major news. It's all ok, but to be honest I've used a free trading platform from OEC before and there was a big problem during news and also just when the US market opened. Now I use NT with Rithmic data feed and it is ok. But I'm thinking to use for order execution the X trader PRO platform.

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  #19 (permalink)
Gdansk/Poland
 
 
Posts: 33 since Feb 2014
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My range bar system showes me few possible trades before 7am GMT while the 1 min chart showes nothing clear. It is just an example between a time based chart and a range based chart. I never trade before 8am GMT as the volume is very low. I'm always waiting for the EU market open. The best trading time with my system for mini DOW is 11.30 GMT to 17.00 GMT. At least that works for me lately.

Attached Thumbnails
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Name:	YM 06-14 ( RJay's RangeNoGap  3 Tick)  2014-04-22.jpg
Views:	94
Size:	87.1 KB
ID:	144455   Click image for larger version

Name:	YM 06-14 (1 Min)  2014-04-22.jpg
Views:	70
Size:	92.7 KB
ID:	144456  
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  #20 (permalink)
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mikorn83 View Post
My range bar system showes me few possible trades before 7am GMT while the 1 min chart showes nothing clear. It is just an example between a time based chart and a range based chart. I never trade before 8am GMT as the volume is very low. I'm always waiting for the EU market open. The best trading time with my system for mini DOW is 11.30 GMT to 17.00 GMT. At least that works for me lately.

nice pictures...

so in that scenario, do you, using the 3 tick no range gap bars (which artificially represents live action), as a strategy to scalp,

wait until the range turns, either on the high side or the low side and then scalp opposite direction?

or do you wait until the range (two parallel lines drawn on chart) is broken, whether top-side or low-side and join in for a range trade?

just curious, how to apply your approach?

incidently, I used to use that method, and I know it works, just not that easy to say how I did what I do!

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April 23, 2014


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