THREE SET UPS - futures io
futures io



THREE SET UPS


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one Jeff Castille with 215 posts (429 thanks)
    2. looks_two cunparis with 146 posts (154 thanks)
    3. looks_3 shodson with 125 posts (211 thanks)
    4. looks_4 Fat Tails with 73 posts (189 thanks)
      Best Posters
    1. looks_one Fat Tails with 2.6 thanks per post
    2. looks_two Jeff Castille with 2 thanks per post
    3. looks_3 shodson with 1.7 thanks per post
    4. looks_4 cunparis with 1.1 thanks per post
    1. trending_up 221,847 views
    2. thumb_up 1,368 thanks given
    3. group 125 followers
    1. forum 1,073 posts
    2. attach_file 239 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 150,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

 
Search this Thread
 

THREE SET UPS

(login for full post details)
  #751 (permalink)
 ikew 
ny
 
 
Posts: 39 since Oct 2009

This IB trading is known for many years and I did not hear/read about any great trader that use it.
It is my understanding that since the market is unpredictable, the best short term traders (like the ones on the floor that I am talking to) working orders just as they see a directional momentum being created. This short term momentum can give you a safe in and out for a few ticks. Do it 10-20-30 times a day and you are more than OK with a very low risk per trade.

Reply With Quote

Can you help answer these questions
from other members on futures io?
need help with easy language OR breakout code:)
Traders Hideout
Tips for directional bias during Asian Session?
Traders Hideout
mahDualCandlePattern
NinjaTrader
value chart indicator by sim22
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Spoo-nalysis ES e-mini futures S&P 500
44 thanks
How many day traders are profitable?
28 thanks
Why you should move from futures to forex
15 thanks
Attached Orders
13 thanks
fx "traders" hate real profitable traders
8 thanks
 
(login for full post details)
  #752 (permalink)
 Zoethecus 
United States of America
 
Experience: Advanced
Platform: NT
 
Posts: 1,149 since Aug 2009


ikew View Post
This IB trading is known for many years and I did not hear/read about any great trader that use it.
It is my understanding that since the market is unpredictable, the best short term traders (like the ones on the floor that I am talking to) working orders just as they see a directional momentum being created. This short term momentum can give you a safe in and out for a few ticks. Do it 10-20-30 times a day and you are more than OK with a very low risk per trade.

Sounds like taking candy from a baby, doesn't it?

The success rate of futures floor traders is no different than those who trade behind a screen.

Now back to the topic..........

Reply With Quote
 
(login for full post details)
  #753 (permalink)
 Zoethecus 
United States of America
 
Experience: Advanced
Platform: NT
 
Posts: 1,149 since Aug 2009



cunparis View Post
I'm sure I could make the IB setup work for me it just requires some discretion and that's the problem I have, it's hard for me to do both crude & ES at the same time.

It's hard to serve two masters.

Reply With Quote
 
(login for full post details)
  #754 (permalink)
 Fat Tails 
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,870 since Mar 2010
Thanks: 4,238 given, 26,871 received


PowerM View Post
Hey guys
It is the first time that I post within an existing thread. I am quite new in this community and also in daytrading, and I am still looking for a first consistent daytrading setup, no matter if it concerns German or American stocks or - futures.
This page is really a "massive ressource" for trading issues, thats why I like it.
I am writing within this thread because it is called "three set ups". To be honest, one would be enough for me for the beginning to explore.
Nevertheless, I am a bit unsure now as we are on page 75 with the 3 setups and 742 answers have been given before my post right now.
So, would I miss something most important if I would not read all the posts before and simply try the setups introduced on page one of this thread?
Any proposals and setups are highly welcome ;

This is also a thread which serves as a social gathering place for many. But it has merited its place in Big Mike's Forum. Range and volume analysis are outstanding tools in determining trade setups. This thread is about range analysis. If you want to post, you would have to quickly read your way through the prior posts. Some of them are just 1 line long.

Reply With Quote
 
(login for full post details)
  #755 (permalink)
 Fat Tails 
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,870 since Mar 2010
Thanks: 4,238 given, 26,871 received


ikew View Post
This IB trading is known for many years and I did not hear/read about any great trader that use it.
It is my understanding that since the market is unpredictable, the best short term traders (like the ones on the floor that I am talking to) working orders just as they see a directional momentum being created. This short term momentum can give you a safe in and out for a few ticks. Do it 10-20-30 times a day and you are more than OK with a very low risk per trade.

Prior to the directional momentum which has been created, there was a period of low volatility such as represented by an inside bar. This thread is not about trading inside bars, but about the breakouts, which occur afterwards.

Also you do not want to trade any directional momentum, which is exhausted. You want to trade it, when it is fresh and alive and accelerates. This is exactly, what happens after a breakout from an inside bar.

If you say that you do not know any great trader who uses inside and narrow range bars, have a look at the website of Crabel Capital Management LLC. They have over $ 1 billion under management, but maybe they are not great traders.

Toby Crabel has published a book in 1990 and some articles in the TASC magazine which can be found here

Technical Analysis, Inc. Home for Stocks & Commodities magazine

You may find some websites which offer the articles for free download, as well.

Reply With Quote
The following 3 users say Thank You to Fat Tails for this post:
 
(login for full post details)
  #756 (permalink)
 eminitrdr 
Marietta, Oh USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zenfire
Trading: Euro
 
Posts: 175 since Mar 2010
Thanks: 455 given, 204 received

On the first page, Jeff lists the indicators he uses to trade THE THREE SETUPS for crude. One of them is the TradingTime.cs. I compiled it but don't see where there is an option to change it to a different time zone. Can someone please help. I need to select trading times for EST. Am I over-looking an option on Jeff's to change or is there another indicator that allows for this. Any help would be greatly appreciated. I would be very grateful if someone could point me in the right direction. Thanks.

Reply With Quote
 
(login for full post details)
  #757 (permalink)
 gulabv 
Dallas, TX
 
Experience: Beginner
Platform: Ninjatrader
Broker: Zen-Fire
Trading: ZN, 6E
 
gulabv's Avatar
 
Posts: 286 since May 2010
Thanks: 161 given, 168 received

eminitrdr,

You have to change the code in the tradingtime.cs file and recompile it to suit EST. It is currently coded for PST.

if( (ToTime(Time[0]) >= 060000 && ToTime(Time[0]) <= 090000)||
(ToTime(Time[0]) >= 100000 && ToTime(Time[0]) <= 111500)||
(ToTime(Time[0]) >= 000015 && ToTime(Time[0]) <= 000000)||
(ToTime(Time[0]) >= 000015 && ToTime(Time[0]) <= 000000)||
(ToTime(Time[0]) >= 000015 && ToTime(Time[0]) <= 000000)||
(ToTime(Time[0]) >= 000015 && ToTime(Time[0]) <= 000000)||
(ToTime(Time[0]) >= 000015 && ToTime(Time[0]) <= 000000)||
(ToTime(Time[0]) >= 000015 && ToTime(Time[0]) <= 000000)||
(ToTime(Time[0]) >= 000015 && ToTime(Time[0]) <= 000000)||
(ToTime(Time[0]) >= 000015 && ToTime(Time[0]) <= 000000)||
(ToTime(Time[0]) >= 000015 && ToTime(Time[0]) <= 000000)||
(ToTime(Time[0]) >= 000015 && ToTime(Time[0]) <= 000000)

Reply With Quote
The following user says Thank You to gulabv for this post:
 
(login for full post details)
  #758 (permalink)
 eminitrdr 
Marietta, Oh USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zenfire
Trading: Euro
 
Posts: 175 since Mar 2010
Thanks: 455 given, 204 received

Disregard the above request. I figured it out.

Jeff, thanks for all your effort and contributions. Many thanks.


Thanks gulaby. Yeah, I kind of figured it out once I gave it more thought. But, thanks for the quick reply.

Reply With Quote
The following user says Thank You to eminitrdr for this post:
 
(login for full post details)
  #759 (permalink)
 ikew 
ny
 
 
Posts: 39 since Oct 2009

Fat tails,


"They have over $ 1 billion under management, but maybe they are not great traders.

This is not trading its assests management...2% yearly....





"Toby Crabel has published a book in 1990 and some articles in the TASC magazine"

You may want to read this about the Toby's IB book....
TraderFeed: Toby Crabel And The Epistemology Of Trading Expertise


When you read it you may find that the IB system is not so simple as we see it here in this thread and have a lot behind it to make it work. A lot more.

Reply With Quote
 
(login for full post details)
  #760 (permalink)
 Fat Tails 
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,870 since Mar 2010
Thanks: 4,238 given, 26,871 received



ikew View Post
Fat tails,

"They have over $ 1 billion under management, but maybe they are not great traders.

This is not trading its assests management...2% yearly....

"Toby Crabel has published a book in 1990 and some articles in the TASC magazine"

You may want to read this about the Toby's IB book....
TraderFeed: Toby Crabel And The Epistemology Of Trading Expertise


When you read it you may find that the IB system is not so simple as we see it here in this thread and have a lot behind it to make it work. A lot more.

Thanks for pointing to the Trader Feed post. I love those contributions of Brett. Ayn Rand is completely unknown in Europe. We usually refer to Popper and Kuhn. I guess I will get myself a book by Ayn Rand and read it.

I also agree with your statement that the IB system is not as simple as it is shown here. I am mainly interested in low volatility situations because they precede momentum moves. I use the Toby Crabel patterns, but also consecutive dojis that do not qualify. I then determine a preferred breakout direction based on other indicators and only take the trade, if it conforms to that direction. The low volatility is just a required part of the setup. Low volatiliy means low risk, and small losses if the trade goes wrong. I think that this is one of the secrets of successful trading.

By the way, I think that Crabel is trading part of the assets, as he mentions momentum and mean-reversion trades, but I do not know it.

Reply With Quote


futures io Trading Community Trading Journals > THREE SET UPS


Last Updated on May 15, 2014


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2022 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), 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