3 10 macd and the TF - Trading Journals | futures io social day trading
futures io futures trading


3 10 macd and the TF
Updated: Views / Replies:5,009 / 18
Created: by iagainsti Attachments:3

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
 3  
 
Thread Tools Search this Thread
 

3 10 macd and the TF

  #1 (permalink)
Just starting out...
Palmdale, Ca
 
Futures Experience: Intermediate
Platform: OEC
Favorite Futures: TF
 
iagainsti's Avatar
 
Posts: 11 since Jan 2011
Thanks: 5 given, 20 received

3 10 macd and the TF

The purpose of this journal, like so many others, is to keep myself accountable. I encourage all constructive criticism and welcome suggestions. Let me be clear: I am relatively new to futures trading, thus the need for this.

About me:

Dabbled in trading for the last couple of years, mostly creating mechanical strategies that traded leveraged ETF's (FAS, FAZ, TNA, etc.). Chagrined by the ridiculous PDT rules, I discovered futures. And, as the mechanical strategy that I used to trade mainly focused on TNA, I was delighted to learn about the Russell Mini. Let's face it: the daytrading leverage available on this thing is ridiculous. Far more than should be used, frankly.

I'm a data analyst by trade, and the original mechanical strategy that I created (for which I thought I was a genius) was a kind of breakout strategy wherein I went back over several months of minute TNA data and determined optimal parameters for a buy, stop loss, and move to breakeven. I would optimize these each week, then see how it did on the following week. I figured this out really, by instinct, only later learning the proper terminology for what I was doing.

At the time, I had to intuit just about everything. When you don't know what you're doing you end up pretty much figuring out all the stuff that others have discovered before you. When I found Pardo's book, it was helpful as it more or less confirmed everything I had figured out the hard way.

Still, I came to believe that my mechanical strategy, interesting though it is, was, frankly, too risky, and I went looking for something else.

Over time, I've tested and borrowed just about a million things. I don't use tradestation or Ninjatrader, so most of what I do is manual or excel.

So why the 3 10 MACD and this journal?

Well, the original version of the setups are on trading naked, so I'm not doing anything new here. And LBR has bee touting the 3 10 for eons.

And I'm at a point where, I think, I have too many ideas and not enough discipline to stick with anything. I keep looking for the next shinier pebble, when all the while, the one in my hand was already good enough.

This old strategy was recommended by someone to serve as a kind of "training wheels" to better learn price action trading. Yes, I have read the Anek thread on that other site, but I struggled with it. I think that something like this is good for me now. I mostly just wanted to pick ONE thing, and stick with it for a while.

The nice thing about this strategy is that it basically provides a "Price Action for Dummies" approach.
  1. There needs to be a trend
  2. There needs to be some kind of pullback
  3. There needs to be a continuation of the trend
  4. Stop loss is set where one would be wrong about the trade and is usually reasonable
As for exiting with a profit, I'm still not sure. I've struggled with this one in my attempts to be a (partly) discretionary trader. It seems when I hold out for an extended target, my breakeven stop is hit after a perfectly good profit was already on the table. On the other hand, when I take, say, a point, the price continues to move a good bit further.

The only thing I've tried to do recently is look at a longer term chart's ATR to get an idea what might be reasonable. For example, since I trade a 2 minute chart (yeah, I've tried volume, range and tick charts) I will often take a glance at the 10 minute and see what the ATR is at. If it's well below a point, then a point is probably a good target. If it's a point and a half or so, then I may hold out for two.

As per Mike's suggestion, I will update this journal each day for at least two weeks and ONLY trade these setups and not dilly-dally around with any of my other stuff just to see what happens.

As it is, these setups, which are as old as the hills, don't provide any sexy 20 point days, I think you're doing well if you can average a couple of points a day. But, as Al Brooks says, (and I'm being tongue-in-cheek here): "If you can get just a point a day with 100 contracts, then you can make, like, two million a year!!!"

In my next post, I'll attach a chart of today's trades.

Reply With Quote
The following 13 users say Thank You to iagainsti for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (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


Congrats and welcome to the forum, you've nailed your first post.

Keep it up!



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
 
  #4 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received

iagainsti,

I think you are in a good position to move forward successfully. You seem to have a down to earth rational approach.

Stick with it, you'll be fine.

Regards,
TMFT

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
Reply With Quote
 
  #5 (permalink)
Just starting out...
Palmdale, Ca
 
Futures Experience: Intermediate
Platform: OEC
Favorite Futures: TF
 
iagainsti's Avatar
 
Posts: 11 since Jan 2011
Thanks: 5 given, 20 received

Allright, as promised, here's two attachments.

One, with a detailed look at one trade, the other, with a bird's eye view of all four.

Four for four, but, as you'll see, could have held out for more on a few, as always...

Attached Thumbnails
3 10 macd and the TF-trades-1-13.jpg   3 10 macd and the TF-detailed-trade-example-1-jan-13-2011.jpg  
Reply With Quote
The following user says Thank You to iagainsti for this post:
 
  #6 (permalink)
Elite Member
Dallas, TX
 
Futures Experience: Beginner
Platform: Ninjatrader
Broker/Data: Zen-Fire
Favorite Futures: ZN, 6E
 
gulabv's Avatar
 
Posts: 284 since May 2010
Thanks: 159 given, 155 received

I like your handle - I against I

Can you tell me what is the significance of MACD fast < MACD slow in an uptrend? Is that one of your criteria for a valid signal?

Reply With Quote
 
  #7 (permalink)
Just starting out...
Palmdale, Ca
 
Futures Experience: Intermediate
Platform: OEC
Favorite Futures: TF
 
iagainsti's Avatar
 
Posts: 11 since Jan 2011
Thanks: 5 given, 20 received


gulabv View Post
I like your handle - I against I

Can you tell me what is the significance of MACD fast < MACD slow in an uptrend? Is that one of your criteria for a valid signal?


Yes, the idea (and this method isn't mine) is that when we are in an uptrend as indicated by the MA,

AND the MACD slow line is also above zero,

THEN, when the fast line dips below the slow line we seeing temporary weakness in the trend.

A buy stop would be placed one tick above the high of the first candle that forms when this happens.

If triggered, then a stop loss would be set at one tick below the lowest low of the swing down.


I'm sure that this is amateur hour for the more experienced traders here. My only goal here is to use this method as a crutch until I can see what's happening without it. You know, trading without indicators, etc.

Here's a screenshot.



Note to self: don't close browser window when previewing post

Attached Thumbnails
3 10 macd and the TF-example-1-13-11.jpg  
Reply With Quote
The following 3 users say Thank You to iagainsti for this post:
 
  #8 (permalink)
Elite Member
Santa Maria
 
Futures Experience: Advanced
Platform: NinjaTrader, ThinkOrSwim
Broker/Data: Mirus/Zen-Fire
Favorite Futures: ES
 
Posts: 295 since May 2010
Thanks: 101 given, 320 received


iagainsti View Post
Note to self: don't close browser window when previewing post

LOL, I have that problem too. Interesting posts. What MACD settings are you using? (You refer to 3 10, but at least on Ninja MACD has three parameters). Thanks.

Reply With Quote
 
  #9 (permalink)
Elite Member
las vegas
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: Velocity/IB
Favorite Futures: 6E
 
Posts: 1,147 since Feb 2010
Thanks: 304 given, 836 received

I remember this from before, the pdf here from the LBR Group explains it more fully. https://futures.io/traders-hideout/435-holy-grail-15.html#post3479

Reply With Quote
The following 2 users say Thank You to vegasfoster for this post:
 
  #10 (permalink)
Just starting out...
Palmdale, Ca
 
Futures Experience: Intermediate
Platform: OEC
Favorite Futures: TF
 
iagainsti's Avatar
 
Posts: 11 since Jan 2011
Thanks: 5 given, 20 received



vegasfoster View Post
I remember this from before, the pdf here from the LBR Group explains it more fully. https://futures.io/traders-hideout/435-holy-grail-15.html#post3479


That's right, nice slide deck.

So, yeah, the basic strategy, as I mentioned in my first post, is certainly not new. I am not trading the divergences and the other setups, I just want to keep it simple.

Also, I'm not only looking at the first cross, I'll take any valid signal.

This is by no means the best way to make money. I just want to see if I can stick with one thing for two weeks. I'll probably do better than I would if I were hopping around trying a bunch of other things. (more about those in another post).

Reply With Quote

Reply



futures io > > > 3 10 macd and the TF

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
My TF Trades westgawolf Elite Trading Journals 13 July 6th, 2011 03:02 PM
The TF tderrick Emini Index Futures Trading 3 February 10th, 2011 04:45 PM
PuristScalper-TF Zoethecus Trading Journals 5 July 14th, 2010 01:16 PM
Problem with roll-over of CL 06-10 to CL 07-10 jharthun Reviews of Brokers and Data Feeds 15 June 13th, 2010 03:46 PM
Looking for a simple MACD strategy. MACD Xover LONG, go LONG roshareid NinjaTrader Programming 2 April 11th, 2010 09:05 PM


All times are GMT -4. The time now is 02:51 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 2017-12-15 in 0.14 seconds with 20 queries on phoenix via your IP 54.226.132.197