NexusFi: Find Your Edge


Home Menu

 





Day Trading from an Ogre's Point of View


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one TradingOgre with 393 posts (1,177 thanks)
    2. looks_two MiniP with 26 posts (33 thanks)
    3. looks_3 bobarian with 18 posts (25 thanks)
    4. looks_4 trendisyourfriend with 15 posts (16 thanks)
      Best Posters
    1. looks_one bobwest with 3.2 thanks per post
    2. looks_two TradingOgre with 3 thanks per post
    3. looks_3 Rrrracer with 2.1 thanks per post
    4. looks_4 MiniP with 1.3 thanks per post
    1. trending_up 79,891 views
    2. thumb_up 1,547 thanks given
    3. group 58 followers
    1. forum 627 posts
    2. attach_file 263 attachments




 
Search this Thread

Day Trading from an Ogre's Point of View

  #281 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
Posts: 556 since Jul 2018
Thanks Given: 908
Thanks Received: 1,672


stefan416 View Post
Awesome! couldnt have asked for a better down move it seems. Can I ask what your entry criteria are? I've been using a similar looking chart for longer term equities as I work 8 to 5 now. Use a 10, 200 and 800 ema that I picked up from a forex forum along with the TDI inidicator. Is it safe to say you look for a strong candle or two continuation move out of the 21/60 ema with the 21/60/200/800 lined up properly? It seems so effortless for you!

Effortless? LOL! You can't see the sweaty palms and racing heart. Although I am relatively new to futures, I am not new to trading. I have about 11 years under my belt trading Forex.

Looking at the trade I missed yesterday, there are two types of entries. A conservative and an aggressive entry. See the charts below for better explanations:




This is just one method I use. There are many others that come into play depending on how the markets are moving. For example, the 21 ema isn't in play if the price moved above the 200 (in a downtrend), just the 200 and the 60 are important at that point. I use the 800 ema as a possible reversal point. There are a number of subtle things I have found over the years that I look at but don't realize I do that until I try to explain my trading system. I have started to compile them into a PDF in an effort to provide a more detailed explanation as to what I do but that is taking far more time than I would have imagined.

Visit my NexusFi Trade Journal Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
NexusFi Journal Challenge - April 2024
Feedback and Announcements
Exit Strategy
NinjaTrader
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
Build trailing stop for micro index(s)
Psychology and Money Management
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #282 (permalink)
 
ninjus's Avatar
 ninjus 
Chiang Mai Thailand
 
Experience: Beginner
Platform: Seirra Chart
Broker: Stage5 + Denali
Trading: MNQ
Frequency: Many times daily
Duration: Minutes
Posts: 735 since Jun 2017
Thanks Given: 1,223
Thanks Received: 2,336


TradingOgre View Post
So, I jumped in and bought BloodHound. I have to say, it is as impressive as I remember from a few years ago. In my opinion, the biggest benefit so far is the ability to very quickly evaluate trading ideas with no coding required. It really helps you to see what "valid" entries your idea actually has and how much of your trading is actually discretionary in nature. Discretionary in that somehow you are filtering out some trades but you may or may not realize that you are doing it. It will help you discover that and possibly filter those trades out via bloodhound as well.

Here is an example of what I am working on now:



The red vertical lines show where your system would have generated a sell signal. Green is for buys.

Still learning but I like the speed with which you can prototype a new system.

Ohhh shiney!

How much is it?

I wonder does it work with gomindicators?


Marcus Aurelius
"Not to assume it's impossible because you find it hard. But to recognize that if it's humanly possible, you can do it too"

Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #283 (permalink)
 
ninjus's Avatar
 ninjus 
Chiang Mai Thailand
 
Experience: Beginner
Platform: Seirra Chart
Broker: Stage5 + Denali
Trading: MNQ
Frequency: Many times daily
Duration: Minutes
Posts: 735 since Jun 2017
Thanks Given: 1,223
Thanks Received: 2,336



TradingOgre View Post
Effortless? LOL! You can't see the sweaty palms and racing heart. Although I am relatively new to futures, I am not new to trading. I have about 11 years under my belt trading Forex.

Looking at the trade I missed yesterday, there are two types of entries. A conservative and an aggressive entry. See the charts below for better explanations:




This is just one method I use. There are many others that come into play depending on how the markets are moving. For example, the 21 ema isn't in play if the price moved above the 200 (in a downtrend), just the 200 and the 60 are important at that point. I use the 800 ema as a possible reversal point. There are a number of subtle things I have found over the years that I look at but don't realize I do that until I try to explain my trading system. I have started to compile them into a PDF in an effort to provide a more detailed explanation as to what I do but that is taking far more time than I would have imagined.

Are these EMA settings more dialed in for NQ or do you think they apply to any market?


Marcus Aurelius
"Not to assume it's impossible because you find it hard. But to recognize that if it's humanly possible, you can do it too"

Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #284 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
Posts: 556 since Jul 2018
Thanks Given: 908
Thanks Received: 1,672


ninjus View Post
Ohhh shiney!

How much is it?

I wonder does it work with gomindicators?

$495 for the intro price. $795 if you want some of their pre-made strategies. You can download a demo to see if it is compatible. The only drawback to the demo is you must enable "Global Simulation Mode" to allow the demo to work. Here is a link to the download for the demo: https://www.sharkindicators.com/documentation/licensing/ Demo is good for 30 days.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #285 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
Posts: 556 since Jul 2018
Thanks Given: 908
Thanks Received: 1,672


ninjus View Post
Are these EMA settings more dialed in for NQ or do you think they apply to any market?

Seems to work good for most markets. I use it on CL, 6E and NQ. The only difference is I use different tick charts depending on the instrument. ES works best on 2000 tick because of the volume it has. On lower time frames I tend to ignore the 21 ema since it is such a short ema. Higher time frames the 21 takes on a more significant role (500 tick and above).

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #286 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
Posts: 556 since Jul 2018
Thanks Given: 908
Thanks Received: 1,672


ninjus View Post
Are these EMA settings more dialed in for NQ or do you think they apply to any market?

When I trade the 6E, I use a 5 minute chart instead of a tick chart. Here is a set up from this morning that I wasn't paying attention to at the time. I was playing with the BloodHound software. Dang these new toys and their distractions.


Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #287 (permalink)
 
stefan416's Avatar
 stefan416 
Toronto, Canada
 
Experience: Intermediate
Platform: Ninjatrader, MT4
Trading: Forex, US Index Futures
Posts: 58 since Sep 2011
Thanks Given: 15
Thanks Received: 12


TradingOgre View Post
Effortless? LOL! You can't see the sweaty palms and racing heart. Although I am relatively new to futures, I am not new to trading. I have about 11 years under my belt trading Forex.

Looking at the trade I missed yesterday, there are two types of entries. A conservative and an aggressive entry. See the charts below for better explanations:




This is just one method I use. There are many others that come into play depending on how the markets are moving. For example, the 21 ema isn't in play if the price moved above the 200 (in a downtrend), just the 200 and the 60 are important at that point. I use the 800 ema as a possible reversal point. There are a number of subtle things I have found over the years that I look at but don't realize I do that until I try to explain my trading system. I have started to compile them into a PDF in an effort to provide a more detailed explanation as to what I do but that is taking far more time than I would have imagined.

Thank you for the explanation. I've basically my cut my trading ideas down into two methods. One with trend and one counter. I found that the several with trend methods I was exploring wound up providing similar entries. Do you base your trading here off of any particular resources or is it a conglomeration of what you've learned over time and pieces together. Imy biggest problem right now seems to be either getting in at the end of the trend (then reverts back to the longer emas) and getting in to early taking a loss but then getting in on a deeper retrace. A good example is in your chart where you circled.

My first scenario would be similar to the very right of your chart.

I also find alot of times an entry can look like complete garbage due to congestion directly the the left but in hindsight looks like a beautiful trade due to the large break into a trend

Sent using the nexusfi.com mobile app

Reply With Quote
Thanked by:
  #288 (permalink)
 
stefan416's Avatar
 stefan416 
Toronto, Canada
 
Experience: Intermediate
Platform: Ninjatrader, MT4
Trading: Forex, US Index Futures
Posts: 58 since Sep 2011
Thanks Given: 15
Thanks Received: 12

5 min NQ chart between 1230est and now is a good example of me getting caught in a long trade and then having price roll over. How do you contend with that type of action?

Sent using the NexusFi mobile app

Reply With Quote
Thanked by:
  #289 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
Posts: 556 since Jul 2018
Thanks Given: 908
Thanks Received: 1,672


stefan416 View Post
5 min NQ chart between 1230est and now is a good example of me getting caught in a long trade and then having price roll over. How do you contend with that type of action?

Sent using the nexusfi.com mobile app

Trading the way I trade I don't see a long opportunity on the 5 min at the times you specified. I don't normally look at time based charts on NQ. I find tick based seems to give better results.



But, to answer your question I would have a fairly tight stop since the trade would have been with the overall trend. Sometimes you just gotta take the lumps and eat a full stop out.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #290 (permalink)
 
stefan416's Avatar
 stefan416 
Toronto, Canada
 
Experience: Intermediate
Platform: Ninjatrader, MT4
Trading: Forex, US Index Futures
Posts: 58 since Sep 2011
Thanks Given: 15
Thanks Received: 12



TradingOgre View Post
Trading the way I trade I don't see a long opportunity on the 5 min at the times you specified. I don't normally look at time based charts on NQ. I find tick based seems to give better results.



But, to answer your question I would have a fairly tight stop since the trade would have been with the overall trend. Sometimes you just gotta take the lumps and eat a full stop out.

I was more talking about how price looks to "roll over" into a potential trading entry zone and then wiped you out. What would have to happen in that chart for you to have a valid entry?

Sent using the nexusfi.com mobile app

Reply With Quote
Thanked by:




Last Updated on May 12, 2020


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts