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COMMON SENSE
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COMMON SENSE

  #1141 (permalink)
Elite Member
BOSTON, MA
 
Futures Experience: Advanced
Platform: Tradestation, TOS
Favorite Futures: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,240 received

Trading


sandptrader View Post
I like Trading this market....just wanted to post a chart of the Hourly that i have been keeping up with....
one of my favorites to trade now.

Welcome to the jungle. I am glad you are looking at ZS, CC etc. One needs to hunt whatever is moving in the jungle.




My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #1142 (permalink)
Elite Member
Valdosta, GA. U.S.A
 
Futures Experience: Advanced
Platform: Sierra ,NT, TOS
Favorite Futures: 6E, 6J, CL, GC
 
Posts: 480 since Sep 2010
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Hunting in the Jungle


mfbreakout View Post
Welcome to the jungle. I am glad you are looking at ZS, CC etc. One needs to hunt whatever is moving in the jungle.


Started using TOS for watching more markets/Futures....it is Great platform.....16 markets now....thinking of trying Position Trades on some in the near future with small size...i use to Position trade like you are doing while watching Daily & 4H.

Attached Thumbnails
COMMON SENSE-tos-watchlist.jpg  
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  #1143 (permalink)
Elite Member
boston ma
 
Futures Experience: Beginner
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CL trades


I'll try to share my trades when I find time.
Maybe it will benefit others, learn in the process and improve my own.
I trade 3 set ups. targets 20 to 50 tics
I only trade breakouts, reversals or pullbacks in a trending market.
I'm trying very hard to wait for best set ups only ( need a lot of help in this department)
I find that to be the hardest part in trading being tempted all day to jump in, where if I just wait and take my set ups the success rate has been over 85%
my stops are 7 to 15 tics max depends on set up, I'll take the loss and renter the trade but I'm not built to endure 50 tics .
Every person is different but what worked for me was to stay out of trades the longest time possible versus always jumping in and endure the ups and downs of the market.
my goal is to preserve capital the longest time possible while trying to be profitable.
any feedback is always appreciated.
Thanks

Attached Thumbnails
COMMON SENSE-1.png   COMMON SENSE-2.png   COMMON SENSE-3.png  
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  #1144 (permalink)
Elite Member
BOSTON, MA
 
Futures Experience: Advanced
Platform: Tradestation, TOS
Favorite Futures: commodities, TF
 
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Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,240 received

Trading


ness1g View Post
I'll try to share my trades when I find time.
Maybe it will benefit others, learn in the process and improve my own.
I trade 3 set ups. targets 20 to 50 tics
I only trade breakouts, reversals or pullbacks in a trending market.
I'm trying very hard to wait for best set ups only ( need a lot of help in this department)
I find that to be the hardest part in trading being tempted all day to jump in, where if I just wait and take my set ups the success rate has been over 85%
my stops are 7 to 15 tics max depends on set up, I'll take the loss and renter the trade but I'm not built to endure 50 tics .
Every person is different but what worked for me was to stay out of trades the longest time possible versus always jumping in and endure the ups and downs of the market.
my goal is to preserve capital the longest time possible while trying to be profitable.
any feedback is always appreciated.
Thanks

Hi Ness1g,

" I'm trying very hard to wait for best set ups only ( need a lot of help in this department)
I find that to be the hardest part in trading being tempted all day to jump in, where if I just wait and take my set ups the success rate has been over 85%"

1) If a trader is only trading 1 or 2 instruements, it's hard to be patient and wait for best set ups. I traded CL for four years exclusively thinking that i need to focus 100% on CL otherwise i will miss my set up. I will be sitting patiently for hours, my set up is not linning up but i see CL moving up or down 50 ticks here and 30 ticks there. I will forget about my 3-4 core set ups and go on a hunt to find as to how can i grab these ticks which are dancing around with me being on the side line or come up with a method to trade set ups which are not part of my core set ups. This will result in wasted energy, focus, frustration - you name it.

As you know now i am trading 4-6 markets every day. It's easier to find set ups when a trader has more options. My recommendation will be to expand your trading universe and do portfolio management.

2) I will not focus on 85% win rate. My rate is around 45% and every trader i know who has been at this game for a while is in that ball park. My biggest challenge at the present time is having a right position size in winning trades vs loosing trades. I make every effort that position size is in loosing trades is small vs position size in winning trades. This way i can have 45% win rate and still come out ahead.

3) Lastly and most imprtantly keep talking to like minded traders.Everyone needs a team of supporitve network to keep balance and remain in top condition. Tom Brady- the elite quarterback- has a team of 7 from conditioning coach to psychologist and everyone in between to lean on. We need to have a team also like any other professional.

Good trading.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.

Last edited by mfbreakout; November 15th, 2014 at 09:24 AM.
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  #1145 (permalink)
Elite member
Hertfordshire England
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: DAX
 
pvlee's Avatar
 
Posts: 92 since May 2011
Thanks: 96 given, 164 received


mfbreakout View Post
Hi Ness1g,

" I'm trying very hard to wait for best set ups only ( need a lot of help in this department)
I find that to be the hardest part in trading being tempted all day to jump in, where if I just wait and take my set ups the success rate has been over 85%"

1) If a trader is only trading 1 or 2 instruements, it's hard to be patient and wait for best set ups. I traded CL for four years exclusively thinking that i need to focus 100% on CL otherwise i will miss my set up. I will be sitting patiently for hours, my set up is not linning up but i see CL moving up or down 50 ticks here and 30 ticks there. I will forget about my 3-4 core set ups and go on a hunt to find as to how can i grab these ticks which are dancing around with me being on the side line or come up with a method to trade set ups which are not part of my core set ups. This will result in wasted energy, focus, frustration - you name it.

As you know now i am trading 4-6 markets every day. It's easier to find set ups when a trader has more options. My recommendation will be to expand your trading universe.

2) I will not focus on 85% win rate. My rate is around 45% and every trader i know who has been at this game for a while is in that ball park. My biggest challenge at the present time is having a right position size in winning trades vs loosing trades. I make every effort that position size is in loosing trades is small vs position size in winning trades. This way i can have 45% win rate and still come out ahead.

3) Lastly and most imprtantly keep talking to like minded traders.Everyone needs a team of supporitve network to keep balance and remain in top condition. Tom Brady- the elite quarterback- has a team of 7 from conditioning coach to psychologist and everyone in between to lean on. We need to have a team also like any other professional.

Good trading.

Between 40% and 60% seems to be good enough and is what most successful traders achieve. But take a look at this guy... 90%+ Jaguar Trading Club

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  #1146 (permalink)
Elite Member
BOSTON, MA
 
Futures Experience: Advanced
Platform: Tradestation, TOS
Favorite Futures: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,240 received

Trading


pvlee View Post
Between 40% and 60% seems to be good enough and is what most successful traders achieve. But take a look at this guy... 90%+ Jaguar Trading Club


Thanks for sharing. If you follow this trader and it appeals to you it's all good. I do not look at anyone with 90%+ returns. Not because no one can make 90%+ returns it's because i know their approach and method to trading is different than mine. I do know of 2 traders who get returns in this kind of range ( that's what they told me) and i tried to trade along side them but it was not for me.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #1147 (permalink)
Elite member
Hertfordshire England
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: DAX
 
pvlee's Avatar
 
Posts: 92 since May 2011
Thanks: 96 given, 164 received

Some of his members have told me his numbers are very suspect. Having been a guest in his trading room I would say his strike rate is closer to 40%

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  #1148 (permalink)
Elite Member
boston ma
 
Futures Experience: Beginner
Platform: ninja
Favorite Futures: futures, stocks
 
Posts: 227 since Oct 2011
Thanks: 384 given, 154 received

Thank you

Mfbreakout.
Thank you for your continuous support and help, I was hesitant of posting in your thread, I didn't wanna impose unless you think my post my help others and you didn't mind it.
You were right, I tried to focus on CL and TF thinking I needed to get better in fewer instruments before expanding.
You are absolutely right more instruments means more set up but my issue is space. with my set up I need a full monitor for each instrument. The disadvantage with ninja, it doesn't have bottom tabs to switch workspaces so I would need 10 monitors to do the job right. But I'm trying to figure a way out.
The bottom line I'll expand instruments but I like to have a feel for each first.
Thanks

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  #1149 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES
 
Posts: 3,633 since Jan 2013
Thanks: 26,745 given, 11,108 received
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ness1g View Post
Mfbreakout.
Thank you for your continuous support and help, I was hesitant of posting in your thread, I didn't wanna impose unless you think my post my help others and you didn't mind it.
You were right, I tried to focus on CL and TF thinking I needed to get better in fewer instruments before expanding.
You are absolutely right more instruments means more set up but my issue is space. with my set up I need a full monitor for each instrument. The disadvantage with ninja, it doesn't have bottom tabs to switch workspaces so I would need 10 monitors to do the job right. But I'm trying to figure a way out.
The bottom line I'll expand instruments but I like to have a feel for each first.
Thanks

You probably are aware of this, but in case you aren't, you can have several workspaces open in Ninja at once, and switch between them in the File > Workspaces tab of the Control Center.

It's a little more cumbersome than, for instance, TradeStation, with its lower tabs, but not that much. The switch happens pretty fast, too.

Just in case you hadn't tried that....

Bob.

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  #1150 (permalink)
Elite Member
boston ma
 
Futures Experience: Beginner
Platform: ninja
Favorite Futures: futures, stocks
 
Posts: 227 since Oct 2011
Thanks: 384 given, 154 received

workspace


I'm aware of workspaces but when switching in between the loading time takes too long.
It's ok I'll figure something out.
I really appreciate your help.
next time I should private message you since it's off topic of this thread.

Thanks,

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