THREE SET UPS - Trading Journals | futures io social day trading
futures io futures trading


THREE SET UPS
Updated: Views / Replies:155,247 / 1,073
Created: by Jeff Castille Attachments:243

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
 243  
 
Thread Tools Search this Thread
 

THREE SET UPS

  #371 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,279 received


shodson View Post
Nice job on the reversal bar!

I'm thinking I'd like to incorporate that setup next, but I think I want to study and research the inside bar some more because I have some other inside-bar/range breakout setups in other markets and time frames I've studied and am interested in finding out how this could benefit those as well.

I got +66 ticks on the 3 inside bars and avoided the losing IB during news.

+10
+10 / +18
+10 / +18
===========
+66 ticks


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

Nice work !!

Last week you had mentioned examining stops......any progress there?

Jeff

Reply With Quote
 
  #372 (permalink)
Market Wizard
Columbus, OH
 
Futures Experience: None
Platform: NT 8, TOS
Favorite Futures: ES
 
Silvester17's Avatar
 
Posts: 3,332 since Aug 2009
Thanks: 4,579 given, 10,313 received


shodson View Post
Nice job on the reversal bar!

I'm thinking I'd like to incorporate that setup next, but I think I want to study and research the inside bar some more because I have some other inside-bar/range breakout setups in other markets and time frames I've studied and am interested in finding out how this could benefit those as well.

I got +66 ticks on the 3 inside bars and avoided the losing IB during news.

+10
+10 / +18
+10 / +18
===========
+66 ticks


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

jeff,

a question about trade # 3. would you have taken this trade as well? of course it's a good trade because it's a winner. but as for the rules, you would need a spike in volume after the move up, then you need a bearish inside bar (close lower than open), and then you would look for a short trade. but in this example you have a move up with declining volume, a bearish inside bar, and then a long trade.

Reply With Quote
The following user says Thank You to Silvester17 for this post:
 
  #373 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,279 received


Hey Silvester,

Yes, I took this trade......see post #365. I looked at it as a double inside bar.

Jeff

Reply With Quote
The following 2 users say Thank You to Jeff Castille for this post:
 
  #374 (permalink)
 Vendor: www.probabletrades.com 
OC, California, USA
 
Futures Experience: Advanced
Platform: IB/TWS, NinjaTrader, thinkorswim
Favorite Futures: stocks, options, futures, VIX
 
shodson's Avatar
 
Posts: 1,859 since Jun 2009
Thanks: 480 given, 3,254 received


Jeff Castille View Post
Nice work !!

Last week you had mentioned examining stops......any progress there?

Jeff

Upon further review I see a bug in my strategy: The 3rd trade was a double inside bar, but I didn't take note of the 2nd inside bar, I was still waiting for a breakout of the first inside bar because the state machine was in InsideBar mode and not looking for further setups anymore, which helps explain why I got so much slippage, but still got a winner (luckily). I'll have to adjust that.

To answer your question, no, I haven't played with some of the alternate stop scenarios yet. I've been focused on just getting the ATS to work in real-time and squashing bugs.

Reply With Quote
The following 2 users say Thank You to shodson for this post:
 
  #375 (permalink)
Elite Member
Lagos, Nigeria
 
Futures Experience: Intermediate
Platform: NinjaTrader, SierraChart
Favorite Futures: Euro Currency & Oil
 
lolu's Avatar
 
Posts: 2,440 since Jun 2009
Thanks: 1,000 given, 1,595 received

Two quick HITs on REVERSAL BAR, just now. I'll post the LIVE Real-time video of these trades later; I need to leave my trading desk and go somewhere now.

Lolu

Attached Thumbnails
THREE SET UPS-3setups6e01072010_1020_26am.png  
Reply With Quote
 
  #376 (permalink)
 Vendor: www.probabletrades.com 
OC, California, USA
 
Futures Experience: Advanced
Platform: IB/TWS, NinjaTrader, thinkorswim
Favorite Futures: stocks, options, futures, VIX
 
shodson's Avatar
 
Posts: 1,859 since Jun 2009
Thanks: 480 given, 3,254 received

Be careful of news at 10:00 and 10:30 Eastern time

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 2 users say Thank You to shodson for this post:
 
  #377 (permalink)
Elite Member
Lagos, Nigeria
 
Futures Experience: Intermediate
Platform: NinjaTrader, SierraChart
Favorite Futures: Euro Currency & Oil
 
lolu's Avatar
 
Posts: 2,440 since Jun 2009
Thanks: 1,000 given, 1,595 received

Got the third HIT on double INSIDE BARs; and I'm done for the day.

Lolu

Attached Thumbnails
THREE SET UPS-3setups6e01072010_0625pm.png  
Reply With Quote
The following 2 users say Thank You to lolu for this post:
 
  #378 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,279 received

Todays CL trades

+23 on the day.........one of those days that I wish I'd only traded the morning.

First trade....inside bar

Second trade.....outside bar right before lunch.......targets filled during lunch.

Third trade.....failed outside bar.....moved stop up to low of subsequent bar and got stopped out

Fourth trade....looking for a push into the close.....this was not a three set up trade.

Attached Thumbnails
THREE SET UPS-cl-08-10-7_1_2010-15-min-.jpg  
Reply With Quote
The following 6 users say Thank You to Jeff Castille for this post:
 
  #379 (permalink)
 Vendor: www.probabletrades.com 
OC, California, USA
 
Futures Experience: Advanced
Platform: IB/TWS, NinjaTrader, thinkorswim
Favorite Futures: stocks, options, futures, VIX
 
shodson's Avatar
 
Posts: 1,859 since Jun 2009
Thanks: 480 given, 3,254 received


Jeff Castille View Post
+23 on the day.........one of those days that I wish I'd only traded the morning.

First trade....inside bar

Second trade.....outside bar right before lunch.......targets filled during lunch.

Third trade.....failed outside bar.....moved stop up to low of subsequent bar and got stopped out

Fourth trade....looking for a push into the close.....this was not a three set up trade.

Yeah, those afternoon outside bars looked like profit killers. good thing I'm just trading inside bars for now.

I got the 1 inside bar setup after the news: +28 ticks

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 shodson for this post:
 
  #380 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,652 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary

Fading a breakout from an inside bar


I traded an inside bar today, however I did not take the breakout, but faded it. Here are the details.

On the YM 5 min chart the trend of the market was up, when an inside bar occured at 8:50 PM CET (2:50 PM ET). The inside bar also was a narrow range 7 bar, which means that it had the lowest range of the last seven bars.

There were three reasons, why I did not follow the bears to trade the breakout but faded it.

Trendline

The market was still in an uptrend, as the trendline had not been broken.

Support/Resistance

The inside bar was just sitting on a fibonacci confluence line. This line had already been confirmed earlier during the day, as it also became the low of the opening range (initial balance 1 hour). So the inside bar was clearly above support.

Climax and Churn Volume

The better volume indicator showed a climax bar (light blue) followed by a churn bar(yellow). This is exhaustion volume followed by stopping volume and often leads to a reversal. Note: This rule applies on balancing dayss only, not on trending days!

Summary

The trend on the chart was up. Prices retraced to a strong support line. When approaching the support line, a climax bar formed followed by a churn bar, which was an inside bar. It was very likely that the bearish breakout would fail and trap some bears. The pattern was also a bullish Harami, but I am not using those candlestick patterns.

So I entered when prices moved back to the fibonacci line. The trade was also confirmed by my 15 min chart. First half of the position exited at the floor pivot S1. Second half stopped out when price retraced back to floor pivot S1 should have given more wiggle room.

The inside bar is similar to John Carter's squeeze. You will likely see a breakout if you expect volatility to increase, but you have to use additional tools to determine the likely direction of that breakout.

Attached Thumbnails
THREE SET UPS-ym-09-10-5-min-01_07_2010.jpg  
Reply With Quote
The following 4 users say Thank You to Fat Tails for this post:

Reply



futures io > > > THREE SET UPS

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
UPS opinions? Poocher Tech Support 45 July 4th, 2017 12:28 PM
Very basic scalper set up Xzap Traders Hideout 25 November 18th, 2013 09:39 AM
ES indicators, set ups exits kctpac Emini Index Futures Trading 18 December 16th, 2011 03:07 PM
Home Depot Earnings Beat Forecasts, Ups Dividend Quick Summary News and Current Events 0 February 22nd, 2011 08:00 AM
What is the perfect set up? h4cked Reviews of Brokers and Data Feeds 8 December 11th, 2010 03:54 PM


All times are GMT -4. The time now is 07:33 AM.

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 2017-12-13 in 0.23 seconds with 20 queries on phoenix via your IP 54.196.182.102