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


THREE SET UPS
Updated: Views / Replies:155,306 / 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

  #851 (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, 3,255 received


cory View Post
it looks the same as better volume indicator, select lowbar and lowchurnbar

Yeah, it's my version of BetterVolume with a few of my own additions, but the colored volume bars are essentially just BetterVolume.

Reply With Quote
 
  #852 (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, 3,255 received


vast View Post
Shodson, what is the new filter you are using? Is this tied in with the post a few pages ago about the HVC bars? Better volume?

Here's an example of today's IBs using free and publicly available indicators. I would have passed on one loser and two winners but got 1 winner in the afternoon. Realistically, trading all IBs, the 3rd trade would not have been taken because I would have still been in the 2nd trade, so actually normal results would have been 2 winners and 1 loser. However, with the NR4 and volume filters, instead, I would have just had 1 winner and no losers, just taking the last IB trade. The winner would have been a multiple > 1 winner as well.

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 5 users say Thank You to shodson for this post:
 
  #853 (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, 3,255 received



shodson View Post
Here's an example of today's IBs using free and publicly available indicators. I would have passed on one loser and two winners but got 1 winner in the afternoon. Realistically, trading all IBs, the 3rd trade would not have been taken because I would have still been in the 2nd trade, so actually normal results would have been 2 winners and 1 loser. However, with the NR4 and volume filters, instead, I would have just had 1 winner and no losers, just taking the last IB trade. The winner would have been a multiple > 1 winner as well.

So you may be asking "shodson, based on your testing, you must be trading these and making money hand over fist, right?" Well, not yet, and here's why: Session start time. When I backtest I usually start the session 1-2 hrs in front of the open so I have some bars before the open but I don't backtest a 24hr session in order to speed up the backtesting on the 1-range bars. The problem is that I get different results with different session start times, especially since the BetterVolume needs 20 bars (5hrs on a 15min chart) to compute its averages so my quandry is whether or not I should backtest the 24hr session, just the RTH session, or a few bars in front of the session like I was doing before (for the NR4 calculations). Take a look at these variances on CL-09.

In my time zone (Pacific) CL opens at 6am, closes at 11:30am, CL-09, 7/20 - 8/19, IB must be NR4 and normal volume.

Attached Thumbnails
THREE SET UPS-cl-24hr.png   THREE SET UPS-cl-rth.png   THREE SET UPS-cl-custom.png  
Reply With Quote
The following user says Thank You to shodson for this post:
 
  #854 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received

@shodson,

With such a small sample size (12 trades), I think you should ignore the 'performance' results (net profit). If your indicator requires 5 hours of historical data prior to plotting @ the open, then it seems like you need to probably run a 24h ETH chart, and just set the strategy to only trade during RTH.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #855 (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, 3,255 received

Bogus Reveral Bars

I have my IRA at thinkorswim, and it's been all cash for years now, and I think I'm getting ready to trade this account soon. So I thought I'd do some SIM trading on TOS do get used to their DOM/ladder. I saw what I thought looked like an unconvincing reversal bar so I went with-trend and shorted it for a nice 2pt SIM win.

I like the TOS DOM, it's nice, but it doesn't have ATM like Ninja, but I don't really use ATM anyways so it may not matter. Or, I'm stupid for not using ATM. The $7 RT commission at TOS doesn't get me very excited either, and I might be able to negotiate that, but I like the ability to trade stocks, options, futures and forex (not in IRA though) from one single account, not 4 separate accounts like you have to have with Tradestation. But if I'm just going to trade futures I might as well move it to Tradestation so I can get some of the advantages of that platform in addition to Ninja.

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

Reply With Quote
 
  #856 (permalink)
Elite Member
Wake Forest, NC
 
Futures Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker/Data: VanKar
Favorite Futures: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 586 given, 1,244 received

I do my futures trading at ToS and I don't pay $7 RT. I wrote Tom Sosnoff (sp?) the president of the company and asked for a lower rate and he gave it to me since I was "a long time swimmer". If you have been there for years, you will most likely get a lower rate. I pay $5 per RT for any futures contract. Not as good as some for emini's, but better than most for currencies and crude oil.....

Reply With Quote
The following 3 users say Thank You to papa15 for this post:
 
  #857 (permalink)
Elite Member
Amsterdam
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: FGBL, NQ
 
jtrade's Avatar
 
Posts: 268 since Feb 2010
Thanks: 336 given, 224 received

Request

Jeff - should you, shodson, FT or other generous programmer ever be in the mood, I'd be very appreciative for a ReversalsV7 featuring a marker above the IB, OB & RB that also happen to be NR4 bars. An NR4 alert would be even better, especially if it would work in a Market Analyser window.

Ninja's Bertrand coded an elegant NR* indi, which I attach here if reference would help. The trouble with simply adding this indi is that it marks all NR4 bars, as opposed to only those that are also "The Castille Three".

Attached Files
Register to download File Type: zip NarrowestRangeFinder.zip (3.3 KB, 58 views)
Reply With Quote
 
  #858 (permalink)
Elite Member
Amsterdam
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: FGBL, NQ
 
jtrade's Avatar
 
Posts: 268 since Feb 2010
Thanks: 336 given, 224 received

Rules for SAR on Inside Bar entries


Jeff Castille View Post
I thought it might be a good idea to look at each bar type on a individual basis.

So........let's start with the "INSIDE BAR"

Since 5/17 until today 6/16 on a 15 minute chart of CL during the hours of 6-9 am PST and 10-11:15 am PST there have been 46 inside bar trades......40 have been winners (at least +8+1) 2 have been stop outs......and 4 have met the criteria for a stop and reverse.

For a trade to qualify for a stop and reverse.......it must hit the initial stop within the trigger bar. On the 2 regular stop outs......the trades did not reach their targets or stops within the trigger bars (15 min) and the initial stops were moved to take us out of the trades without having to reach the initial stops.

Also, I have been trading signals that set up pre pit open and during lunch as long as the trigger bar is within the trading times listed above.

Jeff - I just reviewed this thread and thought I'd add the SAR set up for IBs as you describe.

However, if I read your rules correctly, surely it's no longer an IB : it has become a standard Outside Bar entry (in which case your stats above should read "46 IB trades total : 40 winners / 6 losers; 4 of the losers were followed immediatey by Outside Bar winners") !?

Please let me know if I've misunderstood - sorry if this was covered and I missed it - and have a great weekend.

J.

Reply With Quote
 
  #859 (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, 3,255 received

Saw a nice IB setup but felt like going for a big move instead of a scalp, trailed it with a LinReg and MOBO bands on the 3min, got +57 ticks

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

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

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:
 
  #860 (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 job


Excellent work Shodson!!! You da man.

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)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

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 12:46 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 2017-12-14 in 0.17 seconds with 20 queries on phoenix via your IP 54.221.93.187