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TF day trading
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Created: by bluemele Attachments:239

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TF day trading

  #831 (permalink)
Elite Member
houston
 
Futures Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

Some thanks and advice


bluemele View Post
My project here in Hawaii is about to break ground so it should be interesting as my schedule will be VERY VERY busy but trading will be my #1 concern.

Thanks: your thread content and advice from you and others have helped me tremendously. Thanks all.
Advice: make your job number one, over trading, as long as you have the job. Somehow, seemingly magically, that attitude will help your trading efforts.

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  #832 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received


HighRise1202 View Post
Thanks: your thread content and advice from you and others have helped me tremendously. Thanks all.
Advice: make your job number one, over trading, as long as you have the job. Somehow, seemingly magically, that attitude will help your trading efforts.

Yes. I don't really have a 'job' but investments that require 'nurturing' and fire control. The joy of being an investor/developer again.

I think that is a big part of it as well is having stable and consistent cashflow, otherwise I am trading with scared money. In about 1 year I should have plenty of cashflow/cash to secure the type of trading I need, but it is going to be a slog.

Your welcome for anything I have done for you. This journal is for me to get better and any secondary benefits are great.

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  #833 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
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Posts: 2,547 since Jun 2010
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Vincent Vega View Post
Hello bluemele.
i'm new here and just started to read this thread.
it looks very interesting,i watched some of the videos too via your
youtube channel.
can you share the templates & indicators suited for NinjaTrader 7?
Thank you.

Hello! Well, if you go back through the thread, I do have them attached throughout.

Go to the paperclip on the top right. Play with NinjaTrader a while to see if you can figure it out and find other threads as I honestly don't have the patience to walk someone through doing it all. Sorry....

Just FYI, this is not a get-rich quick scenario and requires a couple years of good practice. But, out of all the systems I have seen, this has been the most 'accurate' but probably one of the most cumbersome as well. Takes a special person to keep going on this.

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  #834 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
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Posts: 1,589 since Sep 2010
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bluemele View Post
Takes a special person to keep going on this.


Yea.... special needs lol


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #835 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
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Favorite Futures: TF
 
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Posts: 2,547 since Jun 2010
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+3 points today per contract

I have to admit, today I was lucky.

Lucky to take the trade I did. My wife missed it and gave several gifts afterwards. I would have probably done the same, maybe not.

3 trades:

1. No issue, just got a little retrace.

2. Went to BE too soon.

3. I feel lucky to have been filled.

All-n-all, today I feel lucky. Should I feel lucky? Hmmm. I know I could choose to feel grateful and appreciate, but what about Lucky? Does lucky tell myself that I am not a good trader and I just 'lucked' out. What is lucky the combination of skill and opportunity?

I am just feeling lucky today.

Video

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  #836 (permalink)
Elite Member
Moscow
 
Futures Experience: Beginner
Platform: Trade Nav., NinjaTrader
Favorite Futures: ES, TF, 6E
 
vovan348's Avatar
 
Posts: 460 since Mar 2011
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bluemele View Post
I have to admit, today I was lucky.

Lucky to take the trade I did. My wife missed it and gave several gifts afterwards. I would have probably done the same, maybe not.

3 trades:

1. No issue, just got a little retrace.

2. Went to BE too soon.

3. I feel lucky to have been filled.

All-n-all, today I feel lucky. Should I feel lucky? Hmmm. I know I could choose to feel grateful and appreciate, but what about Lucky? Does lucky tell myself that I am not a good trader and I just 'lucked' out. What is lucky the combination of skill and opportunity?

I am just feeling lucky today.

I think get lucky it's when you take 20 trades and 2 of them work. Get three trades and make 3 points not so much.

But feel lucky is always good. I think by the end of the day your number in PNL shows you if you are a good trader or bad. I would say even not by the end of the DAY, but by the end of the PERIOD you set for yourself.

You can get lucky once in a while. If you can make profit from day to day that's not just luck, that's something more

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  #837 (permalink)
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In the heat
 
Futures Experience: None
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Favorite Futures: Energy
 
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bluemele View Post
I have to admit, today I was lucky.

Lucky to take the trade I did. My wife missed it and gave several gifts afterwards. I would have probably done the same, maybe not.

3 trades:

1. No issue, just got a little retrace.

2. Went to BE too soon.

3. I feel lucky to have been filled.

All-n-all, today I feel lucky. Should I feel lucky? Hmmm. I know I could choose to feel grateful and appreciate, but what about Lucky? Does lucky tell myself that I am not a good trader and I just 'lucked' out. What is lucky the combination of skill and opportunity?

I am just feeling lucky today.

I think luck is what happens when opportunity meets preparation. The unsuccessful look at success as luck. The successful look at success and see hard disciplined work.

To say you are just lucky is a misstatement. To say you worked hard to implement a plan, followed that plan and then reaped the reward is more accurate.

Let the unsuccessful call you lucky. You just stand there with a grin on your face because you know the truth.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #838 (permalink)
Elite Member
Moscow
 
Futures Experience: Beginner
Platform: Trade Nav., NinjaTrader
Favorite Futures: ES, TF, 6E
 
vovan348's Avatar
 
Posts: 460 since Mar 2011
Thanks: 612 given, 405 received

I just watched your video.

Do you still think that 5 ticks stop is right think to do? All you three trades could be just one this stop one tick above of the high. I know that's a bigger stop. If you want to use 5 ticks stop you should get in 4 ticks below the high max. That's just my thought.

When I just started my journal Big Mike said: "Most people set their stops based on pain threshold. This makes no sense, set your stop based on price action. If required stop is too big for your pain threshold, don't take the trade at all." And I understand why!

And here is another thing that I've heard a few times already from different traders:"- Use no more than a 2-point stop in most cases, and do NOT move them. If you are wrong, take your hit and look to make it up on the next trade. Moving your stop will end your trading days very quickly and is the worst habit you can form, unless of course you are tightening it, which will actually improve your money management! ".

I think you got that habit now. I mean if that makes you more comfortable with you trading I can not tell you stop doing it. I remember when I used 5 ticks stop loss it would make me to get in the trade over and over again before it runs in my favor without 5 ticks retrace.

Nice exit on your last trade.

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  #839 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
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Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received


vovan348 View Post
I just watched your video.

Do you still think that 5 ticks stop is right think to do? All you three trades could be just one this stop one tick above of the high. I know that's a bigger stop. If you want to use 5 ticks stop you should get in 4 ticks below the high max. That's just my thought.

When I just started my journal Big Mike said: "Most people set their stops based on pain threshold. This makes no sense, set your stop based on price action. If required stop is too big for your pain threshold, don't take the trade at all." And I understand why!

And here is another thing that I've heard a few times already from different traders:"- Use no more than a 2-point stop in most cases, and do NOT move them. If you are wrong, take your hit and look to make it up on the next trade. Moving your stop will end your trading days very quickly and is the worst habit you can form, unless of course you are tightening it, which will actually improve your money management! ".

I think you got that habit now. I mean if that makes you more comfortable with you trading I can not tell you stop doing it. I remember when I used 5 ticks stop loss it would make me to get in the trade over and over again before it runs in my favor without 5 ticks retrace.

Nice exit on your last trade.

Yes, I sometimes take larger than 5. With 5 I should be OK unless the market is a bit crazy.

The 5 ticks has nothing to do with 'pain threshold'. It has to be with being wrong and the risk/reward associated. I may change it in the future. But, if you look at Horst's worst days they have all been because of larger stops.

Just my preference for now. I try to time it where my entry will be on the edge of a run, if it hits my stop then I will most likely be wrong. I could easily move my stops to 10 ticks and end up trading much longer and end up maybe at the same point.

Stops may be something I revisit along with number of charts in the future. I think in these more volatile times, 5 ticks is pretty tough.

Thanks for the insight though!

Edit: Oh, and most traders just click and hope.

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  #840 (permalink)
Elite Member
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Futures Experience: Intermediate
Platform: NinjaTrader
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Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received

-1.5 points today


Boy do I feel tired! My gosh.

Came out of the gates a bit aggressive for LONG, but none of my trades turned to gold, so I am ok with that. I figured it was going long today but those setups were a challenge for me today! My wife got slaughtered today. It went long but boy did it shake guys like me off.

Not a proud trading day, but honestly I don't feel too bad. Felt like there was some people playing with large quantities to push price up/down very quickly and then they would leave the market. It was hard to pick the tempo of the music for me today.

I was down to -3.6 points today which is not too bad, but my goal is to avoid that altogether. I will never have perfect trading and since today's tempo changed with a lot of ranging then I am ok emotionally.

In the past I would have been angry, upset, frustrated, revenge trading etc. but I kept focused on trading what I see and remembering that a good setup will occur several times so be patient! It helps!

Video

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