Mr. Ocean's SLA Journey To Competence - Trading Journals | futures io social day trading
futures io futures trading


Mr. Ocean's SLA Journey To Competence
Updated: Views / Replies:5,524 / 97
Created: by DannyOcean Attachments:48

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 48  
 
Thread Tools Search this Thread
 

Mr. Ocean's SLA Journey To Competence

  #51 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received


DannyOcean View Post
Also, in the 5 hour chart you posted in post #19, shouldn't there be a short right where the second from the left demand line is, right under 4440 that would be stopped out?

That depends on where you are in regard to the level at which you're trading. If you're just beginning and you're trading it mechanically, yes, particularly if you have issues with fear. Once you ease into it, though, you'd wait to see if the last swing low was broken before entering a short, or if a lower swing high were printed, or both. As it is, you have a series of higher highs and higher lows, so no particular reason to exit and short unless you're trading it mechanically. Judging how far price has to break the line before the trade is in terminal trouble is the sort of work that lajax and Gozilla are engaged in, but it's well past the primer level.

Reply With Quote
The following user says Thank You to DbPhoenix for this post:
 
  #52 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received


DannyOcean View Post
Right track, yay or nay?

Red short, Green stop

I don't have time to do all of them, and this one was done quickly, so I can't guarantee that there are no errors.

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

Reply With Quote
The following user says Thank You to DbPhoenix for this post:
 
  #53 (permalink)
Trading for Fun
Atlanta, GA
 
Futures Experience: None
Platform: Ninjatrader
Favorite Futures: NQ
 
Posts: 51 since Jul 2015
Thanks: 7 given, 0 received



DbPhoenix View Post
I don't have time to do all of them, and this one was done quickly, so I can't guarantee that there are no errors.

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

Doesn't look like you'd come away with much profit, if any, trading around that extreme. Got me scratching my head...

And aren't you trading that like you'd trade the 1min??

Reply With Quote
 
  #54 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received

The losses are minimal, which is the point. As you can't know the future when trading this in real time, you have no choice but to follow the rules and play the hand you're dealt. You can estimate the winrate and P&L if you like.

As for the bar interval, it doesn't matter. The same rules apply regardless. The only difference is the number of trades.

Reply With Quote
 
  #55 (permalink)
Trading for Fun
Atlanta, GA
 
Futures Experience: None
Platform: Ninjatrader
Favorite Futures: NQ
 
Posts: 51 since Jul 2015
Thanks: 7 given, 0 received


DbPhoenix View Post
The losses are minimal, which is the point. As you can't know the future when trading this in real time, you have no choice but to follow the rules and play the hand you're dealt. You can estimate the winrate and P&L if you like.

As for the bar interval, it doesn't matter. The same rules apply regardless. The only difference is the number of trades.

You told me at the beginning of the thread that "you can't trade the 60m the same way you'd trade the 1min".

Reply With Quote
 
  #56 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received

The same rules apply regardless of the bar interval, but an hourly chart is going to have fewer trades than a 1m chart, just as a monthly chart will have fewer trades than an hourly.

Plot the weekly trend channel for this period beginning with the first swing low in June '13. No trades. No lines other than the trend channel lines.

No matter what the bar interval or the timeframe, the trading session must be approached. This is what examining context is all about. To do otherwise is no different from watching a play beginning with Act 3. Are the dailies and hourlies "hindsight"? By the time the session begins, of course they are. But that's what preparation is, studying what has happened up to the point where the trading session begins, just as an actor prepares the backstory of his character before he walks onstage (or at least the better ones do). Without it, the trader has no context within which to make choices, which means that the odds of his making the wrong ones are pretty much 50/50.


Last edited by DbPhoenix; July 14th, 2015 at 11:00 AM.
Reply With Quote
 
  #57 (permalink)
Trading for Fun
Atlanta, GA
 
Futures Experience: None
Platform: Ninjatrader
Favorite Futures: NQ
 
Posts: 51 since Jul 2015
Thanks: 7 given, 0 received

I'm still not sure why you said that at the beginning, though.

Also, why would you be taking longs at the limit of the Weekly trend channel when you're trying to trade a mean reversion? Doesn't "approaching" from the Weekly down to the hourly pretty much rule out longs?

Every time I think the fog is clearing, a new front moves in and I can't see a thing again.

Reply With Quote
 
  #58 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received


DannyOcean View Post
I'm still not sure why you said that at the beginning, though.

Also, why would you be taking longs at the limit of the Weekly trend channel when you're trying to trade a mean reversion? Doesn't "approaching" from the Weekly down to the hourly pretty much rule out longs?

Every time I think the fog is clearing, a new front moves in and I can't see a thing again.

In this case, "approaching" means plotting the weekly trend channel for this period beginning with the first swing low in June '13. No trades. No lines other than the trend channel lines. One chart. This will address your question regarding longs. Or you can if you prefer begin with the trend channel that begins in June of the previous year.



To Visitors:

Given that this is the second-most-viewed thread at the moment, I should point out to all those who visit the thread that this isn't supposed to be torture. Manual backtesting is a learned skill, not something that is intuited. And it can take a long time to learn if one doesn't know how to do it, much less if he has learned how to do it the wrong way. This is why I discourage people from backtesting the SLA unless they are going to modify it somehow; there's no need to backtest what's already been backtested. Even so, there's no need to go back beyond the current trend, which began in June '13. However, I will be happy to go back as far as the OP wants to.


Last edited by DbPhoenix; July 14th, 2015 at 01:20 PM.
Reply With Quote
 
  #59 (permalink)
Trading for Fun
Atlanta, GA
 
Futures Experience: None
Platform: Ninjatrader
Favorite Futures: NQ
 
Posts: 51 since Jul 2015
Thanks: 7 given, 0 received

By "this period" do you mean the current time or the timeframe we plotted in Post #52?

Reply With Quote
 
  #60 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received


The current period beginning with the swing low in June '13.

Reply With Quote

Reply



futures io > > > Mr. Ocean's SLA Journey To Competence

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Ocean Theory - Natural Moving Average amon AmiBroker 3 March 28th, 2016 06:06 PM
Trading the SLA/AMT Intraday DbPhoenix Emini Index Futures Trading 362 August 15th, 2015 12:37 PM
TraderValue. Assess the competence of a trader in a single data. Wikmar Psychology and Money Management 18 February 8th, 2015 02:45 PM
What America Can Learn From China: In Politics, Competence Matters Quick Summary News and Current Events 0 November 12th, 2013 11:40 AM
David Rosenberg On The Coming Gunfight Between Mr Market And Mr Data kbit News and Current Events 0 January 4th, 2012 03:30 PM


All times are GMT -4. The time now is 01:04 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-18 in 0.13 seconds with 20 queries on phoenix via your IP 54.196.201.241