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Day Trading from an Ogre's Point of View


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Day Trading from an Ogre's Point of View

  #101 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
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Have you ever noticed that whenever you think you see something new on a chart that would help you to join the trend or find a reversal point early that the very next time it shows up, it fails? LOL! Doesn't mean it doesn't work most of the time it just seems like something I have noticed since starting this journey into Futures.

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  #102 (permalink)
 
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 ninjus 
Chiang Mai Thailand
 
Experience: Beginner
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TradingOgre View Post
Have you ever noticed that whenever you think you see something new on a chart that would help you to join the trend or find a reversal point early that the very next time it shows up, it fails? LOL! Doesn't mean it doesn't work most of the time it just seems like something I have noticed since starting this journey into Futures.

All the damn time. LOL.

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  #103 (permalink)
 motika1964 
NC, USA
 
Experience: Intermediate
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TradingOgre View Post
I don't think I said there was 200 ticks but looking at the chart and the right side scale 7390-7320 is 70 points times 4 ticks per point = 280 ticks.



You’re right, I’m just trying to figure out your chart and strategy, I use Sierra instead NT and when you configure a chart to 200 ticks each candle represent that, in this case (280 ticks) will be just 2 candles. I changed my chart to 200 trades per candle and looks pretty similar than yours. Anyway, thanks for taking your time to answer


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  #104 (permalink)
 texastodd 
dallas texas
 
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Hi Mo,
Been following along and saw your question - I too use SC.
If I understand your question, I'm hoping the title helps clear up the nomenclature.
From the manual: https://www.sierrachart.com/index.php?page=doc/ChartSettings.html

Great journal O - keep up the good work!

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  #105 (permalink)
 
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 bobwest 
Western Florida
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motika1964 View Post
You’re right, I’m just trying to figure out your chart and strategy, I use Sierra instead NT and when you configure a chart to 200 ticks each candle represent that, in this case (280 ticks) will be just 2 candles. I changed my chart to 200 trades per candle and looks pretty similar than yours. Anyway, thanks for taking your time to answer


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FYI, "ticks" when used with "tick charts" means the same as "trades," not "ticks" of price. So a 200 tick chart is the same as a 200 trade chart.

Yes, it is confusing. I have no idea why the same word means totally different things, but it does.

Now, returning this thread back to @TradingOgre .

Bob.

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  #106 (permalink)
 
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 TradingOgre 
Evans GA/USA
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Experience: Intermediate
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Took one trade at market open around 9:40 am. Based on a rejection candle from the 200 ema. And the other ema's being lined up to go long. Kept it for 50 full points. Puts me at +1k for the day. Didn't take the rest of the move.

This trade was a good example of why I don't have a bias as to any direction during the day. I take trades based on what I am seeing on the chart that I am looking at and it works well for me. If it happens to line up with other time frames then all the better.

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  #107 (permalink)
 
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 TradingOgre 
Evans GA/USA
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I think I see something about Futures that may be the key at least for me. In Forex, you could safely use the body of a candle in a swing high or low as your entry point. It would take it and normally continue that direction. In futures, NQ especially use the wicks plus 2-3 ticks as the entry point. NQ likes to come up to it move just enough to take it and then move some against you. If you pick the right swing it will eventually move your direction. Sometimes it will move a good bit against you before continuing in the right direction. I saw it do that just a little while ago and took another 110 profit. Trade was only red for about 1 minute.

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  #108 (permalink)
 
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 TradingOgre 
Evans GA/USA
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+140 on the last trade of the day. Great day overall when you consider I am only trading 1 contract. Overall +1250. A few more days like that and it will be time to move to 2 contracts.

Still left some potential earnings on the table but with some self-improvement that should get better as well. Overall very happy with the day and with some things I observed regarding entries (see previous post).

Strategy has a big bug in it. It stops updating the horizontal line whenever I add another horizontal line to the chart. The code searches by Tag so it should find it but it doesn't. Turned it off for now. Going back to pending orders for trades.

I took the code for finding entries around the moving averages and turned it into an indicator for now. That way I can still get alerts for potential set ups.

The goal for this week is to string together 3 or more positive days and to be positive overall for the week.

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  #109 (permalink)
 
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 cory 
virginia
 
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TradingOgre View Post
..

Strategy has a big bug in it. It stops updating the horizontal line whenever I add another horizontal line to the chart. The code searches by Tag so it should find it but it doesn't. ...

my skill is not up to that level but trader EDGE use this technique in his eSwingRays to label all rays on the chart,
it's NT7 but hopefully it gives you some idea for NT8

Quoting 
public override void Plot(Graphics graphics, Rectangle bounds, double min, double max)
{
if (labelRays)
{
int i;

// Define the SizeF Class
SizeF stringSize = new SizeF() ;

foreach (ChartObject co in ChartControl.ChartObjects)
{
if (co is ChartRay && co.Tag.Contains ("Ray"))
{
ChartRay l1 = (co as ChartRay);

int x2 = bounds.Width;
format1.Alignment = StringAlignment.Far;
double y1 = l1.EndY;
int y2 = (bounds.Y + bounds.Height) - ((int)(((y1 - min) / ChartControl.MaxMinusMin(max, min)) * bounds.Height));
string s = l1.EndY.ToString(priceFormat);
stringSize = graphics.MeasureString( s, largerFont ) ;
graphics.DrawString(s, largerFont, l1.Pen.Brush, x2, (y2 - stringSize.Height), format1);

}
}

}
}


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  #110 (permalink)
 
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 MiniP 
USA,USA
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TradingOgre View Post
+140 on the last trade of the day. Great day overall when you consider I am only trading 1 contract. Overall +1250. A few more days like that and it will be time to move to 2 contracts.

Still left some potential earnings on the table but with some self-improvement that should get better as well. Overall very happy with the day and with some things I observed regarding entries (see previous post).

Strategy has a big bug in it. It stops updating the horizontal line whenever I add another horizontal line to the chart. The code searches by Tag so it should find it but it doesn't. Turned it off for now. Going back to pending orders for trades.

I took the code for finding entries around the moving averages and turned it into an indicator for now. That way I can still get alerts for potential set ups.

The goal for this week is to string together 3 or more positive days and to be positive overall for the week.

It seems like you trade for a decent amount of time, curious on how you stay in the zone for 8-10 hours.
Congrats on the day !!

Thanks

-P

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