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


THREE SET UPS
Updated: Views / Replies:155,246 / 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 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 dont 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

  #491 (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

FRIDAYS TRADES

Forth trade.....the stop and reverse from the third trade....this takes the sting out of the previous loss.

Reply With Quote
 
  #492 (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

FRIDAYS TRADES

Fifth trade.......reversal bar.......I got +8+1 on this trade.......however.......a different money mangement approach could have yielded a better result as the trade moved a total of 19 ticks.

I'll attach chart on next post.


Last edited by Jeff Castille; July 11th, 2010 at 01:11 PM.
Reply With Quote
 
  #493 (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

FRIDAYS TRADES


This is the reversal bar trade.

This was the last trade of the morning.........this was followed by a double inside bar that triggered a 70 tick move to the downside......sometimes I wish I traded during lunch.

Attached Thumbnails
THREE SET UPS-cl-08-10-7_9_2010-15-min-.jpg  
Reply With Quote
The following user says Thank You to Jeff Castille for this post:
 
  #494 (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

FRIDAYS TRADES

Lunch is done .....outside bar.....40 tick move.......I get +8+16........perhaps a better money management strategy could have netted more. This is trade number 6.

Attached Thumbnails
THREE SET UPS-cl-08-10-7_9_2010-15-min-.jpg  
Reply With Quote
 
  #495 (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

FRIDAYS TRADES

Trade 7 LOSER..........the stop and reverse was also an outside bar......that will be the next post.

Attached Thumbnails
THREE SET UPS-cl-08-10-7_9_2010-15-min-.jpg  
Reply With Quote
 
  #496 (permalink)
Membership Revoked
United States of America
 
Futures Experience: Advanced
Platform: NT
 
Posts: 1,149 since Aug 2009
Thanks: 262 given, 471 received

Jeff, as I read your after the fact analysis (post mortems), I come away with the same feeling that led me to abandon discretionary trading for ATS. It's the old shoulda, woulda and coulda--trading's version of the three stooges.

IMHO, left to their own devices, discretionary traders will underperform an ATS that uses the exact same parameters because of their MINDS & EMOTION. In other words, if the ATS is profitable or unprofitable, the discretionary trader following the same exact system rules will UNDERPERFORM the ATS. Discretionary traders think they are smarter than MATH & SCIENCE. The sad truth is they're not, but such is the ugly monster called ego. This explains, to a great degree, why casino gamblers lose a whole lot more of their bankroll than the house egde says they should. Second guessing the math is not a profitable method. If it were, casinos would allow pit bosses make discretionary decisions instead of following the rules of the game.

Find a method that gives you a mathematical edge (and it may this this one BTW), work that edge to death and leave your thoughts, emotions and psychological baggage at the door. The only way I know how to do that is with an ATS. Don't fear drawdowns if you know the edge is in your favor!

The various results among different traders using the same system that are posted here for Friday should be a yellow, if not red light.


Last edited by Zoethecus; July 10th, 2010 at 11:16 PM.
Reply With Quote
The following 4 users say Thank You to Zoethecus for this post:
 
  #497 (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

FRIDAYS TRADES

And.....last but not least......final trade of the day.....outside bar......nice winner.....this launched an 80 tick rally at the close........I get +16+16.......perhaps a better money management strategy could have captured more of this 84 tick rally.

So.......had it not been for my unfortunate decision to close my first trade before it hit my stop........this would have been a profitable day.......as it was I lost -26..........so not a profitable day for me but.....better money mangement could have made this day a big winner........the moves were there......the three set ups spotted them.

Jeff

Attached Thumbnails
THREE SET UPS-cl-08-10-7_9_2010-15-min-.jpg  

Last edited by Jeff Castille; July 11th, 2010 at 01:09 PM.
Reply With Quote
The following user says Thank You to Jeff Castille for this post:
 
  #498 (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


Zoethecus View Post
Jeff, as I read your after the fact analysis (post mortems), I come away with the same feeling that led me to abandon discretionary trading for ATS. It's the old shoulda, woulda and coulda--trading's version of the three stooges.

IMHO, left to their own devices, discretionary traders will underperform an ATS that uses the exact same parameters because of their MINDS & EMOTION. In short, discretionary traders think they are smarter than MATH and SCIENCE. The sad truth is they're not, but such is the ugly monster called ego.

Find a method that gives you a mathematical edge (and it may this this one BTW), work that edge to death and leave your thoughts, emotions and psychological baggage at the door. The only way I know how to do that is with an ATS. The various results among different traders using the same system that are posted here for Friday should be a red light.

Hi Zoe,

This is NOT would da could da should da......this is what I DID.......see Fridays post where I recap the day. This is in response to Shodsons' day of carnage post. Yes, there are areas where I might have made a better choice....but all traders need to recognize these........including ATS traders......and make improvements where necessary.

Reply With Quote
The following 2 users say Thank You to Jeff Castille for this post:
 
  #499 (permalink)
Membership Revoked
United States of America
 
Futures Experience: Advanced
Platform: NT
 
Posts: 1,149 since Aug 2009
Thanks: 262 given, 471 received

I'm not directing this to you, Jeff, but to all the followers who are employing this method. Clearly, as the "founder," you have the best grasp of the method and how to trade it. If the followers of this came forward and posted their respective results, we would see a lack of conformity. Other than differences in datafeeds, how would you explain that? (I can't help but think of weenie's remarks on how her ATS outperforms her intuitive knowledge trading these setups.)

This is a very simple trading strat that is easily codeable to those who are expert at this sort of thing. Shodson is taking a shot of doing that, but I don't know if he has succeeded in quantifying the rule set. Until someone does that process, we won't know whether this is indeed a profitable ATS.

Reply With Quote
 
  #500 (permalink)
Elite Member
Bellingham, WA
 
Futures Experience: Intermediate
Platform: Ninja
Broker/Data: Zen-Fire
Favorite Futures: 6E, CL
 
Dragon's Avatar
 
Posts: 494 since Aug 2009
Thanks: 747 given, 253 received



Zoethecus View Post
I'm not directing this to you, Jeff, but to all the followers who are employing this method. Clearly, as the "founder," you have the best grasp of the method and how to trade it. If the followers of this came forward and posted their respective results, we would see a lack of conformity. Other than differences in datafeeds, how would you explain that? (I can't help but think of weenie's remarks on how her ATS outperforms her intuitive knowledge trading these setups.)

This is a very simple trading strat that is easily codeable to those who are expert at this sort of thing. Shodson is taking a shot of doing that, but I don't know if he has succeeded in quantifying the rule set. Until someone does that process, we won't know whether this is indeed a profitable ATS.

Maybe off-topic, maybe not. As I continue to learn about trading in general, one thing is puzzling to me. I keep hearing traders say to follow your rules. But, how can a discretionary trader succeed over time without breaking his rules? Put another way, if I establish a set of rules that is profitable for me, shouldn't I be able to hire a programmer to automate them? It seems that a profitable ATS is hard to come by, thus, I am led to believe that profitable discretionary traders are always breaking their rules.

I am also interested in seeing whether Shodson's strat, when fully developed, becomes profitable. I think that the most important part of this Three Setups approach is to make sure to only take trades in the morning U.S. time and avoid the news (as Jeff says "Know when to trade"). If that part is successfully automated, then I wouldn't be surprised if that strat could be applied to a plain old zero-line cross on an Eco, SMI, CCI, or a MA crossover to achieve similar results that Jeff experienced.


Last edited by Dragon; July 11th, 2010 at 02:17 AM.
Reply With Quote
The following 2 users say Thank You to Dragon 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 07:00 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 1.62 seconds with 20 queries on phoenix via your IP 54.196.182.102