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


THREE SET UPS
Updated: Views / Replies:155,183 / 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

  #31 (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

A nice way to start the day........LET'S ROCK AND ROLL !!!!

Attached Thumbnails
THREE SET UPS-cl-07-10-6_17_2010-15-min-.jpg  
Reply With Quote
The following 3 users say Thank You to Jeff Castille for this post:
 
  #32 (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


Michael.H View Post
sylvester17.....
All those trades i mentioned meet the criteria that was mentioned before, which was a need for a high volume bar. The trades that you mention at 10:20 was a losing trade that you mentioned yourself and 11:40 do not show that same high volume surge that i annotated on the charts.... you can easily spot those.


I put that chart up not to argue with you, just to point out that using candlestick patterns alone will not make you money, even if high volume is involved......
Also, if you were trading the ES on this and not the CL, you would have nyse tick data, as well as other market breadth indicators showing the skewed activity to the upside for that day, so you could have just avoided short triggers all together and stayed safe... Like i said, you can't do that with CL bc no such thing exists.

Michael,

first thank you very much for your inputs. your ideas make perfect sense to me. I totally agree, trading inside bars with high volume bars alone will probably not making you money. I'm certainly watching for other confirmation as well.

the trade at 10:20 looks like a winner to me. but no reason to argue. always thankful for people with different views. I think that's a good way to improve your trading.

Attached Thumbnails
THREE SET UPS-es-09-10-6_15_2010-5-min-.jpg  
Reply With Quote
 
  #33 (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


Nice reversal bar.....+8+1......also an example of moving my stop too quickly after my first objective has been met.

High priority news at 7:00 PST and Natural gas report at 7:30 PST

Attached Thumbnails
THREE SET UPS-cl-07-10-6_17_2010-15-min-.jpg  
Reply With Quote
The following user says Thank You to Jeff Castille for this post:
 
  #34 (permalink)
Big game hunter
NY
 
Futures Experience: Advanced
Platform: Esignal, MBT navigator
Favorite Futures: Currencies
 
Posts: 2,526 since Jun 2009
Thanks: 1,397 given, 2,570 received

I use this to point out the highest volume across the last 20 bars . You can change the lookback if you want , just open the code , change the # and recompile . Put it in the same panel as volume . Thought maybe you could use it for this strategy .

Attached Files
Register to download File Type: zip HiVolumeAlert.zip (3.2 KB, 165 views)
Reply With Quote
The following 7 users say Thank You to Eric j for this post:
 
  #35 (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 reversal bar.....+8+1......also an example of moving my stop too quickly after my first objective has been met.

Have you considered using ATR-based targets and stops? As market volatility expands and contracts, perhaps so should your expectations.

Also, instead of going +1 on the runner, try going -50% to give it more room. You'll give up some of your profit on the first car if it reverses you out but you'll still walk away with some profit and you're more likely to catch those bigger moves when they come.

Reply With Quote
The following user says Thank You to shodson for this post:
 
  #36 (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

OK....gas news is over and we're coming off the low of day....+8+1

Attached Thumbnails
THREE SET UPS-cl-07-10-6_17_2010-15-min-.jpg  
Reply With Quote
 
  #37 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
 
cunparis's Avatar
 
Posts: 2,563 since Jun 2009
Thanks: 1,157 given, 2,030 received

Hey Jeff, good to see you're exploring and finding new stuff. I was suspicious so I pulled up a CL chart and used my inside bar paintbar to mark them and I was surprised to see that they have been working over the past few weeks.

I just have one question: do you take the trade if the risk is too high? On a few bars I see the inside bar can be 30+ ticks so that's a stop to make 8 & 16 ticks. Not a good ratio. The win rate is high but catching a few losers would really hurt.

Reply With Quote
The following user says Thank You to cunparis for this post:
 
  #38 (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


cunparis View Post
Hey Jeff, good to see you're exploring and finding new stuff. I was suspicious so I pulled up a CL chart and used my inside bar paintbar to mark them and I was surprised to see that they have been working over the past few weeks.

I just have one question: do you take the trade if the risk is too high? On a few bars I see the inside bar can be 30+ ticks so that's a stop to make 8 & 16 ticks. Not a good ratio. The win rate is high but catching a few losers would really hurt.


Greeting Cunparis,

Excellent point.....you are correct.......the R/R is sometimes crappy............BUT........ keep in mind.....this isn't IT..........this is a first step.......if the entries PROVE to be good (over 92% win rate so far) THEN I will add another contract and another target AND in so doing improve the R/R.

There have been a few suggestions that I want to look into regarding targets.......ATR being one that I think deserves investigation.

Jeff

Reply With Quote
 
  #39 (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

Cunparis,

Your point had been raised previously in the Jeff CCI thread.....see post #375.........just reduce size to accommodate large stop size.


Last edited by Jeff Castille; June 17th, 2010 at 03:36 PM.
Reply With Quote
 
  #40 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
 
cunparis's Avatar
 
Posts: 2,563 since Jun 2009
Thanks: 1,157 given, 2,030 received



Jeff Castille View Post
Greeting Cunparis,

Excellent point.....you are correct.......the R/R is sometimes crappy............BUT........ keep in mind.....this isn't IT..........this is a first step.......if the entries PROVE to be good (over 92% win rate so far) THEN I will add another contract and another target AND in so doing improve the R/R.

There have been a few suggestions that I want to look into regarding targets.......ATR being one that I think deserves investigation.

Jeff

I'm on the fence about having multiple targets. Because that 3rd contract you add will hurt when it gets stopped out. If you determine that you can get more than 16 you could just make your second target 20 or whatever.

I looked at a year ago and I found more stops than I do in the past few weeks. I am not actively trading CL but for ES the past few weeks have been unusually more likely to be trend days and therefore less likely hood of a stop out.

I'll stay tuned to track your progress. If someone is interested, it'd be interesting to write a back test for this. Use a 1 minute bar to see inside the bars. I'm guessing it'd be profitable recently but not over the past year.

Reply With Quote

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 06:33 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 2017-12-12 in 0.14 seconds with 20 queries on phoenix via your IP 54.145.51.250