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THREE SET UPS
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Created: by Jeff Castille Attachments:243

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THREE SET UPS

  #191 (permalink)
Elite Member
Dallas,TX
 
Futures Experience: Intermediate
Platform: NinjaTrader, OpenQuant
Broker/Data: Zaner/Zen Fire
Favorite Futures: ES,6E,6B,GC,CL
 
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Jeff - from your today's chart, it shows Reversal bars as green where mine shows Magenta, your chart times at 8.00 and 9.15 bars. unless you have a way of disabling RB

I use Reversal v6 in NT7

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  #192 (permalink)
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Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
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Favorite Futures: YM and CL
 
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emini_Holy_Grail View Post
Jeff - from your today's chart, it shows Reversal bars as green where mine shows Magenta, your chart times at 8.00 and 9.15 bars. unless you have a way of disabling RB

I use Reversal v6 in NT7

Excellent observation !!!! As you probably have noticed from my previous post........I was NOT happy with the reversal indicator in it's previous incarnation.......so......I eliminated the reversal bar function until it was fixed......and now it is fixed and reposted.

Jeff

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  #193 (permalink)
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Lagos, Nigeria
 
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Early Morning HIT on CL - June 25


This is an early morning (5am GMT+1) SHORT on Crude.

Lolu

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THREE SET UPS-3setupscrude24062010_0500am.png  
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  #194 (permalink)
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Lagos, Nigeria
 
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My second early morning HIT on CL - June 25

This is my second early morning SHORT on CL, just at the entrance into my TradingTime zone.

Have a look at the LIVE Real-time video of this second trade here.

Lolu

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THREE SET UPS-3setupscrude25062010_0700am.png  
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  #195 (permalink)
Trade with the flow
Paris, France
 
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Jeff Castille View Post
Hi Todd,

Yes....Cunparis has got it right!!!

I don't have records of what the average stop is..........remember........if the stop is too big for your risk tolerance reduce size !! Thereby making the risk the same.

I actually thought of trading 1 contract and at +8 just moving stop to be. This gives a better R:R. If you trade 2 then the possibilities are 32 ticks, 0 ticks, or stop out. If you trade 2 contracts using targets +8 +16 then the possibilities are 24 ticks, 8 ticks, or stop out. It depends what is more likely: hitting 2nd target or hitting first and then breakeven.

Also for reducing risk I was wondering how this would work with a 10 minute bar. That would make stops closer but targets would have to be lowered as well.

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  #196 (permalink)
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Lolu,

Just curious what time window are you trading CL in... Are you trading it 9am to 2:30pm EST? or something totally different?

I sometimes get up and trade the European open and europe session. I didn't know if you had those hours as part of your "to trade" window.

Todd

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  #197 (permalink)
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Lagos, Nigeria
 
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Todd View Post
Lolu,

Just curious what time you are trading zone (in Eastern Standard Time). I'm not sure how to read your time zone.

Todd

My World time zone is GMT+1, which is the same as London time now. Later in the year, London will be 1 hour behind my World time zone. So, London Open is at 8:00am now, which is the same as my time now. Later in the year, when London Open is 8:00am, that would be my 9:00am.


Lolu

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  #198 (permalink)
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Lolu,

So what is your trading window? I mean, what hours are you trading CL and 6e?

Todd

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  #199 (permalink)
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Lagos, Nigeria
 
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Todd View Post
Lolu,

So what is your trading window? I mean, what hours are you trading CL and 6e?

Todd

This is my trading window which I set/mod in the TradingTime script as follows;

if((ToTime(Time[0]) >= 070000 && ToTime(Time[0]) <= 110000)

|| (ToTime(Time[0]) >= 130000 && ToTime(Time[0]) <= 170000))


So my windows are 7:00am(GMT+1) to 11:00am(GMT+1); and 1:00pm(GMT+1) to 5:00pm(GMT+1).

Lolu

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  #200 (permalink)
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Alpharetta, GA
 
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Posts: 257 since Jun 2009
Thanks: 28 given, 40 received


Lolu,

So if I'm translating correctly, you trade 2am to 6am EST and 8am to 12pm EST.

Just curious...why do you skip from 6am to 8am EST? Just so you can go to lunch or is it a market condition that you don't like during that timeframe?

Todd

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