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Started From the Bottom
Updated: Views / Replies:4,645 / 61
Created: by TennisOrDie Attachments:18

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Started From the Bottom

  #11 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: F-16CM-50
Favorite Futures: JDAM
 
tturner86's Avatar
 
Posts: 5,784 since Sep 2013
Thanks: 9,849 given, 11,160 received
Forum Reputation: Legendary


TennisOrDie View Post
Thanks for the response. I was also thinking that about 4 points is a good risk on the NQ. If you don't mind me asking, what timeframe/tick frame do you use to trade and about how many trades do you take per day?

I trade a 1000V as my entry chart and a 5 min as my medium timeframe. My avg hold time is 30mins-1hr.

I also use a 60 Min, RTH and ETH daily for longer timeframe analysis. But the core of what I looking at is price action on the 5 min. I use the 1000V to pinpoint entries.

EDIT: I tend to take 5-10 trades a day. I am looking to try and swing the day more. Although I may take small scalps if the opportunity is there. To me a scalp is ~5pts or 1:1 of what I am risking.


Last edited by tturner86; February 28th, 2015 at 07:40 PM.
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  #12 (permalink)
Trading Apprentice
Tampa, FL, USA
 
Futures Experience: Advanced
Platform: NT
Favorite Futures: TF, 6E, CL
 
Posts: 16 since Jul 2013
Thanks: 0 given, 8 received


TennisOrDie View Post
Anyone have any luck getting their futures commissions lowered by TD Ameritrade? What would be the best way of going about doing this. Right now I pay 7 dollars round trip

TennisOrDie,

Maybe you will try NINJA TRADER BROKERAGE, their NT is a decent platform and low commissions mentioned on their website, not a mystery like some brokers that are not listing the commissions on their websites, I'll never open an account with such brokers.

You can download NT for free, they have good support, I use NT for several years with other brokers, I'm not a client of NT Brokerage, but I know that NT purchased Mirus Futures 1 year ago (more or less).

Maybe you check with Big Mike, he is very knowledgeable and a gentleman.

Did you try other tick charts than Fibonacci numbers, for example 150, 450 ticks for NQ? Every market is different (volume, tick size, volatility, daily range, speed, etc.) and you cannot day trade for example NQ, ES, CL using the same size charts. Of course multiple time frames is a must, usually multiples of 3.

Many traders are using Range bars to eliminate some noise but not to trade blinded as with Renko bars.

Success.

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  #13 (permalink)
Former Ass. to the Reg. M
Long Island, New York
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Global Warming
 
TennisOrDie's Avatar
 
Posts: 204 since Jan 2015
Thanks: 201 given, 214 received



tturner86 View Post
I trade a 1000V as my entry chart and a 5 min as my medium timeframe. My avg hold time is 30mins-1hr.

I also use a 60 Min, RTH and ETH daily for longer timeframe analysis. But the core of what I looking at is price action on the 5 min. I use the 1000V to pinpoint entries.

EDIT: I tend to take 5-10 trades a day. I am looking to try and swing the day more. Although I may take small scalps if the opportunity is there. To me a scalp is ~5pts or 1:1 of what I am risking.

When you say 1000v is that 1000 ticks? And thanks for responding.

Reply With Quote
 
  #14 (permalink)
Former Ass. to the Reg. M
Long Island, New York
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Global Warming
 
TennisOrDie's Avatar
 
Posts: 204 since Jan 2015
Thanks: 201 given, 214 received


Bobo View Post
TennisOrDie,

Maybe you will try NINJA TRADER BROKERAGE, their NT is a decent platform and low commissions mentioned on their website, not a mystery like some brokers that are not listing the commissions on their websites, I'll never open an account with such brokers.

You can download NT for free, they have good support, I use NT for several years with other brokers, I'm not a client of NT Brokerage, but I know that NT purchased Mirus Futures 1 year ago (more or less).

Maybe you check with Big Mike, he is very knowledgeable and a gentleman.

Did you try other tick charts than Fibonacci numbers, for example 150, 450 ticks for NQ? Every market is different (volume, tick size, volatility, daily range, speed, etc.) and you cannot day trade for example NQ, ES, CL using the same size charts. Of course multiple time frames is a must, usually multiples of 3.

Many traders are using Range bars to eliminate some noise but not to trade blinded as with Renko bars.

Success.

Wow I didn't realize Ninja Trader's commissions were so low. And I thought you had to pay for the Ninja Trader platform?

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  #15 (permalink)
Trading Apprentice
Tampa, FL, USA
 
Futures Experience: Advanced
Platform: NT
Favorite Futures: TF, 6E, CL
 
Posts: 16 since Jul 2013
Thanks: 0 given, 8 received

TennisOrDie, If you will feel OK using NT platform, probably the best is to buy in the future a lifetime license. Having a lifetime license you can trade using NT with lower commissions. There are many brokers you can use to trade with NT (Dorman Trading, IB, MB Trading, etc...it is a long list...).

See also CME's Broker Directory and search for brokers with NT
http://www.cmegroup.com/tools-information/find-a-broker.html
Maybe you will find a better solution than Ninja Trader Brokerage, maybe using a different trading platform, who knows...you have to decide.
I prefer brokers located in Chicago for trading Futures on GLOBEX.

Link here for free/leasing/purchasing NT
https://www.ninjatraderbrokerage.com/trading_platform/purchase

If you decide for NT you can download the free edition, test it, take a look at the training they have
https://www.ninjatraderbrokerage.com/education

NinjaTrader Version 7 (see the videos first)

I'm sending you also a link for NT Trader Kingdom for "Gaining an Intraday Trading Edge Through the Understanding of Range, Time, Volume and Tick Bar Chart Types' - an article by rob Mitchell
Gaining an Intraday Trading Edge Through the Understanding of Range, Time, Volume and Tick Bar Chart Types - Trader Kingdom
(of course he is promoting one of his products, but there are some good info for new traders, I don't know your level of experience, sorry if you are informed already on this subject).


Success.

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The following 2 users say Thank You to Bobo for this post:
 
  #16 (permalink)
Hi Mom!
Bridgeport, Ct
 
Futures Experience: Intermediate
Platform: Sierra
Favorite Futures: Gold, Oil
 
TheShrike's Avatar
 
Posts: 365 since Jun 2012
Thanks: 1,028 given, 472 received

I would hold off on purchasing a lifetime license until you get your feet wet a little. It's an added expense you probably don't need at this point. Focus on your trading first and worry about your commissions and costs if you become profitable. A few cents per trade isn't going to make a difference in your bottom line.

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  #17 (permalink)
Former Ass. to the Reg. M
Long Island, New York
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Global Warming
 
TennisOrDie's Avatar
 
Posts: 204 since Jan 2015
Thanks: 201 given, 214 received

I purchased Price Action Trading System last night. I have never read anything like this before. I now realize that up until this point I was basically just guessing on which way price was going to move.

It will definitely take some time to gain a full grasp on this new system, but it will be tremendously rewarding when I do. Price action rules all. I'm finally learning how to actually trade PROFITABLY.

I am still a little confused on second entries and fading false breakouts. I'll have to reread the manual again today.

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  #18 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: F-16CM-50
Favorite Futures: JDAM
 
tturner86's Avatar
 
Posts: 5,784 since Sep 2013
Thanks: 9,849 given, 11,160 received
Forum Reputation: Legendary


TennisOrDie View Post
When you say 1000v is that 1000 ticks? And thanks for responding.

1000 Volume chart. Tick is every transaction regardless of size. Volume is per every contract sold. To me it gives me a good gauge of the speed of the market.

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  #19 (permalink)
Former Ass. to the Reg. M
Long Island, New York
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Global Warming
 
TennisOrDie's Avatar
 
Posts: 204 since Jan 2015
Thanks: 201 given, 214 received


Bobo View Post
TennisOrDie, If you will feel OK using NT platform, probably the best is to buy in the future a lifetime license. Having a lifetime license you can trade using NT with lower commissions. There are many brokers you can use to trade with NT (Dorman Trading, IB, MB Trading, etc...it is a long list...).

See also CME's Broker Directory and search for brokers with NT
http://www.cmegroup.com/tools-information/find-a-broker.html
Maybe you will find a better solution than Ninja Trader Brokerage, maybe using a different trading platform, who knows...you have to decide.
I prefer brokers located in Chicago for trading Futures on GLOBEX.

Link here for free/leasing/purchasing NT
https://www.ninjatraderbrokerage.com/trading_platform/purchase

If you decide for NT you can download the free edition, test it, take a look at the training they have
https://www.ninjatraderbrokerage.com/education

NinjaTrader Version 7 (see the videos first)

I'm sending you also a link for NT Trader Kingdom for "Gaining an Intraday Trading Edge Through the Understanding of Range, Time, Volume and Tick Bar Chart Types' - an article by rob Mitchell
Gaining an Intraday Trading Edge Through the Understanding of Range, Time, Volume and Tick Bar Chart Types - Trader Kingdom
(of course he is promoting one of his products, but there are some good info for new traders, I don't know your level of experience, sorry if you are informed already on this subject).


Success.

What brokerage do you recommend using with the Ninja Trader 7 platform?

Reply With Quote
 
  #20 (permalink)
Hi Mom!
Bridgeport, Ct
 
Futures Experience: Intermediate
Platform: Sierra
Favorite Futures: Gold, Oil
 
TheShrike's Avatar
 
Posts: 365 since Jun 2012
Thanks: 1,028 given, 472 received


Have you considered a trading combine from TST? Might be a good fit for a young kid such as yourself. If you prove you can trade and be profitable according to their metrics they will give you a funded trading account.

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