Blz Trading - futures io
futures io



Blz Trading


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one Blz17 with 30 posts (44 thanks)
    2. looks_two Big Mike with 8 posts (5 thanks)
    3. looks_3 lolu with 2 posts (0 thanks)
    4. looks_4 jdella with 2 posts (0 thanks)
      Best Posters
    1. looks_one Blz17 with 1.5 thanks per post
    2. looks_two vast with 1 thanks per post
    3. looks_3 websouth with 1 thanks per post
    4. looks_4 Big Mike with 0.6 thanks per post
    1. trending_up 11,869 views
    2. thumb_up 53 thanks given
    3. group 9 followers
    1. forum 48 posts
    2. attach_file 28 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Blz Trading

(login for full post details)
  #1 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

So I've bounced around to many many different methods. Most of you know by now that as of late I have pulled virtually everything off my charts and I trade purely on price action and a little volume. I have thrown the 20 ema on my chart as well just as more of a reference point but I honestly don't know if it will remain.

Anyhow I had a trade this morning that I think is a great learning lesson. I know it was for me so I thought I'd post about it. I made 21 ticks but in my opinion I royally screwed the pooch on this one. Have a look.

UPDATE: As I finish this post 6B continued it's rip off that last fractal low and would've put my trade at +50 ticks which is what I like to pull out of a runner. At that time I could be real greedy and try for more or just take but long story short my error cost me about $180.

SECOND UPDATE: Good for another 10 ticks. Could be up 60.

Attached Thumbnails
Click image for larger version

Name:	6B.png
Views:	1036
Size:	90.9 KB
ID:	2495  
Visit my futures io Trade Journal Started this thread Reply With Quote

Journal Challenge April 2021 results (now extended!):
Competing for $1800 in prizes from Jigsaw
looks_oneMaking a Living with the Microsby sstheo
(391 thanks from 41 posts)
looks_twoSalao's Journalby Salao
(88 thanks from 15 posts)
looks_3Learning to Profit - A journey in algorithms and optionsby Syntax
(59 thanks from 19 posts)
looks_4Deetee’s DAX Trading Journal (time based)by Deetee
(51 thanks from 25 posts)
looks_5Maybe a little bit different journalby Malykubo
(37 thanks from 23 posts)
 
Best Threads (Most Thanked)
in the last 7 days on futures io
The Crude Dude Oil Trading System
107 thanks
Seasonal Trades
31 thanks
futures io site changelog and issues/problem reporting
26 thanks
Spoo-nalysis ES e-mini futures S&P 500
23 thanks
Cryptocurrencies 101 -- what Ive learned so far
22 thanks
 
(login for full post details)
  #2 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

I'm going to try and be quite active in this thread not only because it's my journal but writing about my trades/setups will help me learn.

Attached is a pic of a setup I noticed on the 6B and honestly after reviewing some other instruments (CL, ES, EMD) I noticed this set up alot. I'm currently reading Al Brooks book and he refers to a Low2/High2 which is in essence the second new low on a pullback within a primary bear trend or the second new high on a pullback within a primary bull trend. I'm still learning Brooks stuff so don't hold me out as an expert but I think there are some good tidbits of knowledge in his book.

So, the attached picture shows the 6B making a lower high thus presenting the possibility of a primary bear trend. Within that pullback I would wait for a second lower low to be made and enter putting me in at 72-73ish. As of writing this it's already hit 20 ticks in the money so stop either at breakeven or take your loot and walk on. As I said I noticed this type of set up on multiple instruments. The other things I like about this particular setup is it's relatively low risk. You would use the prior fractal/swing high as your stop so this particular trade would have only had 14 ticks of risk max.

Oh and by the way I did not take this trade. As I said I'm still learning Brooks style so I'm not going to ignorantly throw my money in the market but I thought this was a great learning setup.

Blz

P.S. I'm still learning this method but from what I'm seeing I would only use this in (a) clearly defined moves and (b) on the move into the second swing. Don't chase the third/fourth/etc swing with something like this. I think your odds are far worse under those scenarios.

Good trading.

Attached Thumbnails
Click image for larger version

Name:	6B.png
Views:	560
Size:	74.4 KB
ID:	2502  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #3 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received


I really need to be sure and recognize that the 6B is my bread and butter. I hit the afternoon and try applying some of my work to other instruments when the currency futures are moving slow and more often then not it doesn't go so well. Case in hand I tried a short on the EMD and it stopped me out rather quickly minus 11 ticks.

I haven't produced a chart yet but the basic premise is it formed a lower high and then within the pullback formed a Low2. However, the trend wasn't very smooth like earlier in the day plus I don't much experience with the EMD and don't quite have a grasp on how it moves.

Lesson learned.

Blz

Attached Thumbnails
Click image for larger version

Name:	EMD.png
Views:	406
Size:	65.0 KB
ID:	2511  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #4 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,030 since Jun 2009
Thanks: 32,487 given, 98,349 received

Nice posts so far Blz17, looking forward to more. Nothing is more rewarding to me than seeing journals posted in this forum - I think the journal is one of the major keys of success and benefits everyone profoundly.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Big Mike for this post:
 
(login for full post details)
  #5 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Just closed out a 6B short and attached a chart. Played out perfectly. As of right now price is still waffling around that double bottom. I may reshort on the break but thus far I'm satisfied with the trade.

Probably time for sleep 12:40am in Seattle and I gotta wake up at 5.

Good trading and good night.

Blz

Attached Thumbnails
Click image for larger version

Name:	6B.png
Views:	293
Size:	56.2 KB
ID:	2533  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #6 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Attached is a chart of a 6B trade that I did not take even though I should have. Regardless it is a great educational trade. It demonstrates the importance of giving your trades a chance to run if that's what you're shooting for and also shows how you can get out of a trade if it does not appear to be working. You've got your initial bailout stop set the whole time and most commonly with these types of trades you will be able to close out the trade as demonstrated on the chart.

Hope it helps.

Blz

UPDATE: You can also maintain that newest fractal as your stop and watch for lower lows. Typically when it starts to get range bound I'll close the trade out and plan a new entrance on the top or bottom of the range but if I'm free riding the trade then I might let it go to see if it gets continuation. I added this to this post as the price has drifted back towards those lows for a possible break.

Attached Thumbnails
Click image for larger version

Name:	6B.png
Views:	300
Size:	87.5 KB
ID:	2552  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #7 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Since I have not been on this style of trading for very long I am still building confidence and this causes me to miss trades. Sadly I missed two trades today. One I probably would have gotten out even (I posted about it in my prior post) and the second one would have been good for 40 to 50 ticks. I kind of let the duldrums leading up to the fed release to put me in a permanent state of sitting on my hands when I really should've have been looking for nice setups once the news release dust settled.

Anyhow, check out the chart.

I also attached a picture describing how I approach my trades once it moves against me. I didn't create that picture. All credit for it goes to feb2865, fxachilles and all the other helpful people on the System II thread at forexfactory.

Blz

Attached Thumbnails
Click image for larger version

Name:	6B.png
Views:	246
Size:	102.4 KB
ID:	2577   Click image for larger version

Name:	Number 1&2.gif
Views:	320
Size:	23.7 KB
ID:	2578  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #8 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Just woke up to find the 6B had the move that you dream of. I hate sleeping. I may have to literally start trading midnight or so to 8 am PST. Seems to be the best time for the 6's but I just keep putting off the inevitable.

Chart says it all.

Blz

Attached Thumbnails
Click image for larger version

Name:	6B.png
Views:	238
Size:	70.2 KB
ID:	2603  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #9 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

I was reviewing my journal and realized I never really discussed how I trade. I've alluded to my style on other posts throughout the forum but never really hit the nail on the head. So, I figured I ought to post that info here. Not only to hopefully benefit others but also to reinforce my style in my own head.

First and foremost I learned this style from the System II thread over at forexfactory from feb2865, fxachilles and many others. I'm not plugging forexfactory or anyone else but I fully believe in giving credit where credit is due.

The basic premise of the strategy is to identify key reversal areas or 1-2-3 patterns. First on the 1-2-3 patterns I look for a 30 tick swing to indicate strength in the market (speaking in reference to the 6's specifically 6B/6E). Then I wait for a pullback and a breakout to new highs. Nothing truly tricky about it. I'm simply playing the second breakout off the first pullback within a trend. With this particular setup I am usually targeting 21 ticks of profit, perhaps a little more but I don't stretch it with the 1-2-3. My initial stop is always a couple ticks below that setup pullback but no more then 20 ticks. The key for me is my risk reward ratio must always be 1 to 1 or better. If there are successive pullbacks before my target is reached I simply use those to reset my stop loss thus decreasing my risk on the way but maintaining by my profit target.

My key reversal approach (or also bracketed breakout) looks for the market to pullback and establish a key point of reference, move off that point of reference then return and breakdown/breakout from that point. As with the 1-2-3 set up, I use the prior swing (or I'll frequently refer to them as fractals) point is my where my stop will be placed. With the key reversals I shoot for runners. I don't care if I get stopped out break even, minus a couple ticks or even let a 20 tick winner turn into a 3 tick winner. I want to hit winners of 50 ticks or more.

I've attached a pick that kind of depicts how I set up my trades. I've also attached a pic (it was also attached a few posts ago) that is of utmost importance. The second picture deals with how to manage a bad trade. If someone looks to trade with this style I suggest they print out that picture and eat it so that it will be permanently part of their inner workings.

I hope this is clear. It's a little tricky to explain how to trade the system exactly because it's really not a system. It requires some active subjective interpretation of price action. Anyhow, I'm more then happy to answer any questions.

Blz

Attached Thumbnails
Click image for larger version

Name:	FCR EntriesExits.JPG
Views:	305
Size:	136.1 KB
ID:	2607   Click image for larger version

Name:	Number 1&2.gif
Views:	215
Size:	23.7 KB
ID:	2608  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #10 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received


Well I give myself a big F minus for the day. I really took what should've been a great day and turned it into a mess. All is not lost though. I learned a few things and made one good decision so here goes.

I attached a chart. The bottom line is I decided to sleep last night rather then trade the Euro session, bad decision. The Euro session was a dream drop off in the 6B. However, this morning had a great drop as well, I got 10 ticks out of it . Unfortunately I over analyzed a situation and thought that the cash equity open would bring wild volatility that could screw up my trade. Should've been in it for a solid 100 or so ticks. There was a second chance to get into this trade but I was in the bathroom .

I did do something right here. I walked away for a bit. I felt that having missed two great chances that I was prone to forcing a trade so I decided it was best to get away for a little while.

Once I returned my bad decisions continued. I got into a short that presented a huge risk exposure and I did not manage it well. I was but that's no excuse cause my stop shouldn't have even been there. It should have been much higher or I should not have been in the trade. At this point I wasn't quite done and was watching for another breakdown. I was also only looking for 20 ticks on any trades to restore some confidence, it was later in the day and because 6B was already down so much it seemed highly unlikely that anymore gigantic drops were in the cards. There was a nice breakdown, I was off getting a bagel.

At this point I was real gun shy and missed a couple good setups for 20 ticks.

Here's the good news. If I had played my trades the way I'm supposed to I would have made a killing today. Plus I could have easily pulled a chunk of ticks out of the market later in the day had I just remained confident and gone for it. To me this is good news cause it reminds me to stick to my plan and that results like today's can be avoided. Plus when its all said and done I lost $80 today, oh well. That's a cheap price to learn some important lessons.

It's time for a . I plan on trading Euro session tonight and am gonna bounce back hard.

Attached Thumbnails
Click image for larger version

Name:	6B.png
Views:	231
Size:	144.2 KB
ID:	2635  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #11 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,030 since Jun 2009
Thanks: 32,487 given, 98,349 received

Excellent job on the journal, Blz. Focus on following your rules, the money will come



Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #12 (permalink)
 websouth 
Perdido Beach, AL
 
Experience: Intermediate
Platform: graph paper
Trading: Guitar
 
websouth's Avatar
 
Posts: 1,150 since Jul 2009
Thanks: 1,094 given, 1,313 received

Re: There was a second chance to get into this trade but I was in the bathroom .

Too funny. You mean you don't have the funnel system hooked up...that's what all the real traders are using....I don't even have to leave my desk...ever

I know what you mean - I have eaten some expensive sandwiches. That's when the best moves happen of course. Letting the dogs out, etc. hehe


Thanks for the posts. Really good stuff. We trade alike. The 1-2-3 is good to me.

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to websouth for this post:
 
(login for full post details)
  #13 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,030 since Jun 2009
Thanks: 32,487 given, 98,349 received


websouth View Post
Re: There was a second chance to get into this trade but I was in the bathroom .

Too funny. You mean you don't have the funnel system hooked up...that's what all the real traders are using....I don't even have to leave my desk...ever

I know what you mean - I have eaten some expensive sandwiches. That's when the best moves happen of course. Letting the dogs out, etc. hehe

Ok rarely is there an opportunity to use this smiley and I won't be passing it up:



LOL.

Expensive sandwiches, expensive phone calls, expensive dog walks, yup. Been there done that.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Big Mike for this post:
 
(login for full post details)
  #14 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received


websouth View Post
Re: There was a second chance to get into this trade but I was in the bathroom .

Too funny. You mean you don't have the funnel system hooked up...that's what all the real traders are using....I don't even have to leave my desk...ever

I know what you mean - I have eaten some expensive sandwiches. That's when the best moves happen of course. Letting the dogs out, etc. hehe


Thanks for the posts. Really good stuff. We trade alike. The 1-2-3 is good to me.

LOL! My new computer chair. Now I just need a couple dozen red bulls, a pile of bagels plus a toaster and I'm all set.

Thanks for the feedback and support.

Blz

Attached Thumbnails
Click image for larger version

Name:	redneck_computer_chair.jpg
Views:	118
Size:	42.5 KB
ID:	2637  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #15 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

I'll probably post what I thought of the 6B later today. I haven't really done much today. Pretty tired and was late getting in front of the screen today so never felt fully in tune with the market.

Anyhow, just a quick thought on entering trades. With my system I know where my entry points are before I decide to pull the trigger. It's always clearly set up by the fractal levels. So for me it makes good sense to put in a buy/sell stop order where you want to get in and let it do it's magic. I found that helps remove your emotions from the entry decision. If you don't set your order in advance then I found it's much easier to start second guessing the trade when it comes time to enter. And with this particular style of trading it's imperative to take each and every setup that is presented.

Blz

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #16 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,030 since Jun 2009
Thanks: 32,487 given, 98,349 received

Sorry if I missed it somewhere -- but what are you using for the fractals indicator? Is it a multiplier based on high/low over a set period, or something more complicated?

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #17 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Attached is a chart of today's action. I marked the short entries with red arrows and longs with green. You hopefully would not take all of these as you should already be in some of the trades and not require the entry in the midst of the move. There were tons of opportunities today though I missed em all. I only took one trade today and broke even on it. I was quite a bit out of it today though. Woke up a little late then had to take care of some things and I wasn't in front of the monitor early enough to really get in tune with the market. I also hadn't really slept much this week last night being no exclusion; I think only four hours last night.

That being said I feel really great about the week. When I look back at my charts I see dozens of opportunities almost all of which would have either been profitable or manageable to point of keeping losses to a minimum. The key will be managing my trades and sticking to my trade plan next week. Also, I'm going to spend sometime this weekend trying to figure out my trading hours. It's a little tricky trying to trade currency futures here in Seattle. I will without question watch the Japan open which is 4pm PST. I think you can almost always pull one trade out of the Japan open. I still need to figure out how I am going to try and manage the Euro and NY session but I have got to try and get more sleep. I totally crashed and burned today and it was weird. Even Red Bull could not save the day.

Anyhow, I learned a ton this week and I honestly think next week is going to be a great week for me.

Blz

Attached Thumbnails
Click image for larger version

Name:	6B.png
Views:	209
Size:	134.5 KB
ID:	2703  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #18 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received


Big Mike View Post
Sorry if I missed it somewhere -- but what are you using for the fractals indicator? Is it a multiplier based on high/low over a set period, or something more complicated?

Mike

Actually it is the most simple indicator. It's my eyeball and the line tool on Ninja. I just spot key points of reversal and draw a horizontal line. I attached a Fractals indicator I pulled off the Ninja forums. Initially I did use it but ultimately I decided to use my naked eye instead as I found the indicator would draw some fractals that didn't seem all that legitimate and would miss ones that were. However, if someone were just trying to get an idea where/how the fractals line up and it's not a bad place to start.

Blz

Attached Files
Register to download File Type: zip Fractals_v0_1_1.zip (2.4 KB, 51 views)
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #19 (permalink)
 jdella 
Concord, NH USA
 
Experience: Intermediate
Platform: Ninja trader
Broker: AMP/CQG
Trading: ES
 
jdella's Avatar
 
Posts: 182 since Jun 2009
Thanks: 138 given, 113 received


Blz17 View Post
Actually it is the most simple indicator. It's my eyeball and the line tool on Ninja. I just spot key points of reversal and draw a horizontal line. I attached a Fractals indicator I pulled off the Ninja forums. Initially I did use it but ultimately I decided to use my naked eye instead as I found the indicator would draw some fractals that didn't seem all that legitimate and would miss ones that were. However, if someone were just trying to get an idea where/how the fractals line up and it's not a bad place to start.

Blz

So essentially all you are doing is using a 5 min chart and trading the break of a previous pivot, be it a PH or PL? Am I seeing that correctly? Where are your stops and also the PT, if you have one?

Do you have a daily goal? Thanks Blz,

Jeff

Sorry about the above questions I just noticed you went through how you trade in post # 9.

Reply With Quote
 
(login for full post details)
  #20 (permalink)
 Jeff Castille 
Northern California
 
Experience: Intermediate
Platform: Ninja Trader
Broker: Amp Futures/ Zen-Fire
Trading: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,783 given, 3,293 received

The market never sleeps......but you have to.

Nice chart

Follow me on Twitter Reply With Quote
 
(login for full post details)
  #21 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received


jdella View Post
So essentially all you are doing is using a 5 min chart and trading the break of a previous pivot, be it a PH or PL? Am I seeing that correctly? Where are your stops and also the PT, if you have one?

Do you have a daily goal? Thanks Blz,

Jeff

Hi jdella, good questions. You are correct I in essence trade breakouts of previous highs/lows. My stops are set at the previous fractal high/low and I adjust up my stops as new fractals develop. I don't have a profit target on my range breakout trades and fractal reversals. On my 1-2-3 setups I target 21 ticks or more depending on the strength of the move but I don't pursue runners on the 1-2-3 setups. Reason being the first wave gobbles up a substantial part of the move and you may be pushing your luck trying to get a runner out of it. I also never have a stop that is larger than my profit target on my 1-2-3 setups. On the range breakout trades and fractal reversals I shoot for a runner and simply adjust my stops on the way down. Scenario number 1 on the attached pic is in essence how I pull my profits on the runners. Disregard the entries as that diagram is more specific to exitting a failed trade. However, the exit concept is the same. If my runner tags a high or low retraces and then retests that high/low and demonstrates serious hesitation then I'll exit.

Blz

P.S. My trade today was a perfect example of why you take profits on a 1-2-3 setup versus targeting a runner. I was up 25 ticks and ended up breaking even as the trade reversed. I was a bit too tired and forgot I was playing a 1-2-3.

Attached Thumbnails
Click image for larger version

Name:	Number 1&2.gif
Views:	170
Size:	23.7 KB
ID:	2705  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #22 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,030 since Jun 2009
Thanks: 32,487 given, 98,349 received

Thanks to Blz17 for the indicator and idea.

I wanted to make some visual changes and also make the strength of the high/low period adjustable. The original version had a Period fixed at 2, and only drew the first symbol on the chart -- not the subsequent dots.

Download my version here:


Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Attached Thumbnails
Click image for larger version

Name:	2009-09-25_2046_002.png
Views:	179
Size:	117.3 KB
ID:	2707   Click image for larger version

Name:	2009-09-25_2046_001.png
Views:	140
Size:	116.2 KB
ID:	2708   Click image for larger version

Name:	2009-09-25_2046.png
Views:	129
Size:	119.9 KB
ID:	2709   Click image for larger version

Name:	2009-09-25_2045.png
Views:	143
Size:	134.4 KB
ID:	2710  
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Big Mike for this post:
 
(login for full post details)
  #23 (permalink)
 vast 
Australia
 
Experience: Intermediate
Platform: Ninja
 
vast's Avatar
 
Posts: 167 since Jun 2009
Thanks: 154 given, 62 received

Mike you are a indicator guru.
Thank you.
I am sure that the additions you have made/added will be a great help.
Thank you

Reply With Quote
The following user says Thank You to vast for this post:
 
(login for full post details)
  #24 (permalink)
 jdella 
Concord, NH USA
 
Experience: Intermediate
Platform: Ninja trader
Broker: AMP/CQG
Trading: ES
 
jdella's Avatar
 
Posts: 182 since Jun 2009
Thanks: 138 given, 113 received


Blz17 View Post
Hi jdella, good questions. You are correct I in essence trade breakouts of previous highs/lows. My stops are set at the previous fractal high/low and I adjust up my stops as new fractals develop. I don't have a profit target on my range breakout trades and fractal reversals. On my 1-2-3 setups I target 21 ticks or more depending on the strength of the move but I don't pursue runners on the 1-2-3 setups. Reason being the first wave gobbles up a substantial part of the move and you may be pushing your luck trying to get a runner out of it. I also never have a stop that is larger than my profit target on my 1-2-3 setups. On the range breakout trades and fractal reversals I shoot for a runner and simply adjust my stops on the way down. Scenario number 1 on the attached pic is in essence how I pull my profits on the runners. Disregard the entries as that diagram is more specific to exitting a failed trade. However, the exit concept is the same. If my runner tags a high or low retraces and then retests that high/low and demonstrates serious hesitation then I'll exit.

Blz

P.S. My trade today was a perfect example of why you take profits on a 1-2-3 setup versus targeting a runner. I was up 25 ticks and ended up breaking even as the trade reversed. I was a bit too tired and forgot I was playing a 1-2-3.

Blz, thanks for answering my question and please forgive me if this is a totally dumb question, but I'm not clear on what the difference between trading the fractal and trading the 1-2-3. Isn't it the same thing, trading the break of what would actually be point 2 in the 1-2-3 setup?

Reply With Quote
 
(login for full post details)
  #25 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received


jdella View Post
Blz, thanks for answering my question and please forgive me if this is a totally dumb question, but I'm not clear on what the difference between trading the fractal and trading the 1-2-3. Isn't it the same thing, trading the break of what would actually be point 2 in the 1-2-3 setup?

No problem jdella and there is no such thing as a dumb question. The biggest difference between the 1-2-3 setup versus the fractal reversal is in essence the landscape of the trade. With the 1-2-3 you are looking for pullbacks and breakouts within a primary trend. With the fractal reversal setup you are looking for a topping pattern or bottoming pattern that breaks out/down. With the fractal reversal it's too early to look at the chart and call it a trend so it's a more aggressive trade but it also holds a higher reward potential and thus the reason I play those for a runner.

To be quite honest a lot of it just comes with screen time and practice. I've almost finished reading the entire thread at forexfactory and I think doing that really helped it all sink in (the thread is over 7,000 posts!). I've attached my screenshot from Friday and labeled the one's I consider fractal reversals versus 1-2-3's. Obviously it's easy in hindsight but hopefully it will help you distinguish between the two. Again practice, practice, practice and it starts to sink in.

Hope this helps.

Blz

Attached Thumbnails
Click image for larger version

Name:	6B.png
Views:	172
Size:	176.0 KB
ID:	2743  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #26 (permalink)
 wh 
Neubrandenburg, Germany
 
Experience: Advanced
Platform: R
Trading: Stocks
 
wh's Avatar
 
Posts: 538 since Jun 2009
Thanks: 298 given, 505 received

not to much inputs for your brains ... follow the price or volume

all what you need are more then one frame/monitor ... and clear your mind and indicator list

Reply With Quote
The following user says Thank You to wh for this post:
 
(login for full post details)
  #27 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Snagged 23 ticks on a quick 1-2-3 scalp. Missed quite a few setups this morning. Was a little late and still working on the confidence factor.

Blz

Attached Thumbnails
Click image for larger version

Name:	6B.png
Views:	144
Size:	102.7 KB
ID:	2787  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #28 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Got one more 1-2-3 setup, good for 20 ticks. Some might be wondering why I'm not trying to let these run. My plan most of the time (remember there are no set in stone rules) is to take 20 ticks or so on 1-2-3's. My fractal reversals is where I shoot for runners.

Blz

UPDATE: Perfect example of why I don't try to run my 1-2-3's. Because the 1-2-3 has already had a significant move down you are pushing your luck for more continuation. This very trade appears to now have bottomed and is moving higher. If it does indeed move higher then my exit was 5 ticks from the bottom.

Attached Thumbnails
Click image for larger version

Name:	6B.png
Views:	136
Size:	103.3 KB
ID:	2792  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #29 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Attached is a perfect example of how trading number 1 and 2 will save your ass with this style. Hope this helps.

Blz

Attached Thumbnails
Click image for larger version

Name:	6B.png
Views:	117
Size:	93.9 KB
ID:	2855  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #30 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

For my style of trading today was a very boring day. I only took two trades all day and broke even on them both. There was one great setup today but I was in the restroom. That's twice in 1 week that's happened to me. New trading rule for me, no bathroom breaks. Here Mike, I'll save you the trouble of posting this .

Anyone interested in trading this style is highly encouraged to read my previous post. It hits on how to manage a tough trade with this style and shows a trade I took today where I got out break even. Despite my lack of profit (or loss for that matter) today I think I traded quite well as I managed my two trades accordingly and didn't try to force trades.

I will be watching the Japan open as you can frequently catch a single move off the open but gotta be careful as the spreads can get a little wide.

Blz

P.S. There were some great trades on the European session. If I find consistency in my trading and go 100% full time then I'll probably begin trading the European session but it's tough right now being in Seattle and having other priorities.

Attached Thumbnails
Click image for larger version

Name:	6B.png
Views:	126
Size:	162.1 KB
ID:	2869  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #31 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Been a little busy the last couple days. I've attached yesterday's chart. Yesterday morning was an absolute dream. Perfect downward drift with virtually no turning back until the full blown reversal. Here's the bad part about yesterday morning's price action, I was in the car during it.

Anyhow the setups are clear and obvious and yesterday morning anyone could've made a killing. In reality you should have been able to take that very first entry and run it all the way down to the lows.

Today I didn't trade the 6B. Well I take that back, I tested it a coupe times but shut it down breakeven fairly quickly. I recognized very early that all the news releases today were going to royally screw up the price action. If you wanted fractal reversals and 123's the Euro session was the place to get em today.

Hopefully be back tomorrow in the full swing of things though I am working on another price momentum based idea for trading the CL so I may be distracted.

Blz

Attached Thumbnails
Click image for larger version

Name:	6B.png
Views:	191
Size:	96.4 KB
ID:	3009  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #32 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Since today was a garbage day for trading my style on the 6B I thought I would chart it and see what could be done. As I've said before ideally I'll trade the Euro session thru the first few hours of NY session but for now I try to trade about 4:30 am PST time and keep at it until the movement really dies down.

I've attached a chart. Today without question would have been a losing day or perhaps a breakeven day but you can see from the chart how good trade management can keep you from getting slaughtered even on horrible days like today.

Blz

Attached Thumbnails
Click image for larger version

Name:	6B.png
Views:	181
Size:	216.5 KB
ID:	3013  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #33 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Just wanted to get a quick post in here. Sorry I have not been updating this journal much over the past week. I am still keeping my eyes on 6B and soon I will probably get a new monitor and will keep an eye for 123's and fractal reversals on all the 6's. That being said I have also wanted to put together a scalping strategy for the CL and I have been focusing on that over the past week. I will probably start a journal regarding it soon.

I should also begin trading and journaling the 6B again as well as I think I am happy with my CL strategy and won't need to focus so much on tweaking and refining it.

Blz

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #34 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

So it's been a long time since I updated this journal, reason being I haven't been trading fractals on the 6B as of late. There are two reasons for this (1) it's difficult as the best hours for 6B are midnight to 8 am Seattle time and (2) you have to use huge stops trading fractals.

The time issue isn't that big of a deal. I'll stay up all night and drink Diet Rockstars if it's profitable. The large stop is the bigger issue at hand. It's quite difficult to enter a trade with an enormous stop, let it get hit then jump right back in the saddle and enter another trade with another enormous stop. I'm still working on this concept and seeing if I can minimize the stop by combing the fractals with some price action strategies. Though as of late I have been doing a lot of work on a CL trading strategy.

Anyhow, hopefully I'll get back to updating this thing and working on some of these ideas. I like the transparency the journal section creates and the feedback I get.

Blz

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #35 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,030 since Jun 2009
Thanks: 32,487 given, 98,349 received


Blz17 View Post
So it's been a long time since I updated this journal, reason being I haven't been trading fractals on the 6B as of late. There are two reasons for this (1) it's difficult as the best hours for 6B are midnight to 8 am Seattle time and (2) you have to use huge stops trading fractals.

Anyhow, hopefully I'll get back to updating this thing and working on some of these ideas. I like the transparency the journal section creates and the feedback I get.

Blz

Blz, I do hope you will continue posting. If you are trading at all, I encourage you to post because it will only help

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Big Mike for this post:
 
(login for full post details)
  #36 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Looking to get this baby restarted. Having toyed with trading for some time now I find it fascinating the different stages you progress through. I've had my fair share of successes and failures (more failures then successes). However, I do believe I have learned more from my failures then successes.

Also, in reflection my most successful strategy I have ever taken was with 6B and trading fractal breakouts as this thread was about. I decided to look into other methodologies because I did not like the rather large stops. I was also using only a single contract which combined with large stops made each trade either a win big or lose big situation ("Go big or go home" is a fun line amongst the guys but pretty stupid when trading). I've been reading Trading the Ross Hook and enjoying it quite a bit. It's method is very similar to the fractal breakouts but with more refinement. In addition Joe Ross focuses very much on money management through out the book. One point he touches on is someone's emotional capacity and how it relates to stop placement. As many on this board I too am intrigued by CL. I truly believe I could successfully trade CL. When I watch it throughout the day I can frequently call out winning trades. However, I don't currently have the emotional capacity to trade CL. Perhaps I will some day in the future and for that reason I will still follow it and sim trade CL but for the time being I don't think it is appropriate for me.

So perhaps one day I'll get back on the CL bandwagon with real loot but for now (as much as I hate to shift focus again) I'm going to look back upon 6B. The differences between my approach right now and the fractal breakouts that I utilized before are (1) more refined entries to reduce risk, (2) multiple contracts to better manage trades after entry, and (3) a large amount of focus on money management.

I'm certain some refinement will be needed even after I believe I've found my "system" but I truly feel like I am finally on the right track.

More to come.............

Blz

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #37 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

So as I revisit 6B one of my primary objectives is to focus very much on proper money management. As I alluded to in my prior post I am quite a bit more comfortable with 6B then CL because of it's reduced tick value and reduced volatility.

Let me be clear about one thing with my money management; I fully expect to get stopped out regularly from trades with a scratch or small loss. Obviously, I also expect to take full stops as well but the main focus of my money management is to allow myself to "test" the market, pull a quick profit, tighten my stop and see if I snagged a runner. I call it a "test" because if I get stopped out quickly on my runners then my quick profit contract should offset most or all of the stop loss.

So, as of right now I am looking at utilizing 2 or 3 contracts depending upon the initial risk of the trade (I'll get into the initial risk of the trade in another post). If the initial risk is less then 10 ticks then I'll employ 3 contracts. One will be pulled at +5 ticks and the stop on the remaining two contracts will immediately go to -5 from entry. Once up 10 ticks the second contract will be pulled now leaving one contract with a stop still at -5 from entry. I'm still deciding exactly how I want to pull that final contract. I'll probably pattern fit an ATR trailing stop to it so I can try and let it run for as long as possible.

If the risk is between 10 and 14 ticks then I will utilize 2 contracts. The first contract will be pulled at +7 ticks and the stop on the second will then be moved to -5 ticks from entry. The second contract will be pulled at +20 ticks. Without a third contract I do not believe I have as much latitude in searching for a runner as there may be days where I only get 2 contract opportunities all day and it's important that I do capture some profits when possible.

So that's what I'm working with right now. These rules are by no means set in stone yet but I am quite pleased with them to this point.

More to come.......

Blz

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #38 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

I didn't trade today. Wasn't quite ready plus my wife was in a car accident so spent the whole day dealing with insurance companies (ugh). Anyhow, I did go back and review the 6B chart. Not a very great day. Couple trend moves in there but a lot of choppy crap. Either way though should've been a profitable day. Still hashing out some filters and approaches and such.

Blz

Attached Thumbnails
Click image for larger version

Name:	Hookers.png
Views:	142
Size:	353.8 KB
ID:	5687  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #39 (permalink)
 Dragon 
Bellingham, WA
 
Experience: Intermediate
Platform: Ninja
Broker: Zen-Fire
Trading: 6E, CL
 
Dragon's Avatar
 
Posts: 494 since Aug 2009
Thanks: 747 given, 258 received

I hope your wife is ok. The weather has been crappy the last few days up here and we have had a lot of accidents. Might be good to sim trade for a couple days because stuff like that will shake you up. No reason to lose more cash from an off day after dealing with insurance.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Dragon for this post:
 
(login for full post details)
  #40 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,030 since Jun 2009
Thanks: 32,487 given, 98,349 received

Nice work Blz, looking forward to more. I also hope your wife is fine and that you get everything squared away soon.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Big Mike for this post:
 
(login for full post details)
  #41 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Thanks for all the good wishes for my wife, she's doing better but still recovering. Fortunately nothing life threatening but just in some pain. Been a bit busy with that and holiday things so haven't had much time to update the journal. Plus, I'm still working on hashing out some rules on my entries. I've finished the Ross Hook book (I'm officially a hooker) and am working on some of the subtle nuances he hits on in that book that I believe make a big difference. I'm also working on incorporating some of cclys volume ideas into my approach as well.

Hopefully I'll have some charts and more detailed updates in the next day or two.

Blz

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #42 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

So I was turned onto this idea from another trader. In essence it's price action trading but using a 6 Range chart rather then a minute chart. You can see where typical patterns occur (e.g. Ross Hooks, 123's, etc) and focus on support and resistance to note strength or weakness. Perhaps a nice focused way to watch price action and utilize good contract management (e.g. smaller stops yet giving runners a chance to run)

Blz

Attached Thumbnails
Click image for larger version

Name:	6R_P.A..png
Views:	265
Size:	119.6 KB
ID:	6506  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #43 (permalink)
 lolu 
Lagos, Nigeria
 
Experience: Intermediate
Platform: NinjaTrader, SierraChart
Trading: Euro Currency & Oil
 
lolu's Avatar
 
Posts: 2,502 since Jun 2009
Thanks: 1,029 given, 1,664 received


Blz17 View Post
So I was turned onto this idea from another trader. In essence it's price action trading but using a 6 Range chart rather then a minute chart. You can see where typical patterns occur (e.g. Ross Hooks, 123's, etc) and focus on support and resistance to note strength or weakness. Perhaps a nice focused way to watch price action and utilize good contract management (e.g. smaller stops yet giving runners a chance to run)

Blz

Simple & Sweet !!!!!!

What MA do you have on the chart ?

Lolu

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #44 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received


lolu View Post
Simple & Sweet !!!!!!

What MA do you have on the chart ?

Lolu

Glad you like it lolu. The MA is actually propietary so I won't be sharing it however I believe the same idea can be achieved by using a WMA, Triple EMA, TS Supertrend, etc. Whole concept is trading support/resistance and price action but just using range bars to clean up the action a bit.

Hope that helps.

Blz

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #45 (permalink)
 lolu 
Lagos, Nigeria
 
Experience: Intermediate
Platform: NinjaTrader, SierraChart
Trading: Euro Currency & Oil
 
lolu's Avatar
 
Posts: 2,502 since Jun 2009
Thanks: 1,029 given, 1,664 received


Blz17 View Post
Glad you like it lolu. The MA is actually propietary so I won't be sharing it however I believe the same idea can be achieved by using a WMA, Triple EMA, TS Supertrend, etc. Whole concept is trading support/resistance and price action but just using range bars to clean up the action a bit.

Hope that helps.

Blz

I already have similar setups, one using WMA and the another using TSSuperTrend. I'm also using SbSRenko and pure (regular) Renko. The pure Renko is mostly on NT7Beta.

Thanks.

Lolu

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #46 (permalink)
 adrian 
Houston, TX
 
Experience: Intermediate
Platform: Ninjatrader
Broker: MBT
Trading: EUR/USD
 
Posts: 88 since Jun 2009
Thanks: 169 given, 71 received

Blz,

This is absolute perfection. I am happy for you because I know the journey it took to get here.

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #47 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,030 since Jun 2009
Thanks: 32,487 given, 98,349 received

Hi Blz17,

Just wanted to pop in and say "thanks!", good job on the posts and journal, and keep it up.

Have you changed anything in your method as a result of this thread?

Have you learned more about your strengths and weaknesses, and applied some sort of plan or effort towards putting them in play as a result of this thread?

I'm asking a lot of journal writers the same questions, looking forward to the answers

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #48 (permalink)
 Blz17 
Seattle
 
Experience: Beginner
Platform: NinjaTrader Interactive Brokers
Trading: 6B
 
Posts: 225 since Jun 2009
Thanks: 135 given, 270 received

Thanks for the follow up Mike. I'm certainly learning some things about myself and my approach. I think the two biggest things I need to work on are being mentally prepared to take a loser and jump right back in on the next signal and making sure I give my runners room to run. I believe that for this particular approach the runners are of utmost importance.

I'm still tweaking and working on a few things with my approach though I'm trying to keep with the same general strategy. I was going to ask you Mike how do you get the envelope expansion bands to fit appropriately to 6B. I saw your 6E chart with them and it looked good. Whenever I try applying them to 6E/6B the bands are too far from the price action and they never get touched.

Thanks again for giving me some questions to think about. Lately, I have been incredibly busy and have not been unable to work on my trading hardly at all. I'm hoping to spend some time this weekend on it.

Blz


Big Mike View Post
Hi Blz17,

Just wanted to pop in and say "thanks!", good job on the posts and journal, and keep it up.

Have you changed anything in your method as a result of this thread?

Have you learned more about your strengths and weaknesses, and applied some sort of plan or effort towards putting them in play as a result of this thread?

I'm asking a lot of journal writers the same questions, looking forward to the answers

Mike


Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #49 (permalink)
dsraider
New York, NY
 
 
Posts: 142 since Dec 2009
Thanks: 41 given, 87 received

Blz,

Very nice, well-documented trading journal. I had no idea you were this professional. Wait till I tell the rest of the forum what you're really like

Keep up the good work.

DS

Reply With Quote


futures io Trading Community Trading Journals > Blz Trading


Last Updated on January 29, 2010


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Journal Challenge w/$1,800 in prizes!

April

An Introduction to CME Group Micro Bitcoin Futures w/David Lerman

Elite only
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), 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