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FuturesTrader71 (FT71) / Morad Askar - Ask Me Anything (AMA)
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FuturesTrader71 (FT71) / Morad Askar - Ask Me Anything (AMA)

  #331 (permalink)
Elite Member
San Francisco, CA, USA
 
Futures Experience: Intermediate
Platform: TD Ameritrade, NinjaTrader, TradeStation
Broker/Data: NinjaTrader Brokerage
Favorite Futures: ES, CL, 6E
 
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Posts: 9 since Aug 2014
Thanks: 6 given, 5 received


FuturesTrader71 View Post
This is the Volume Breakdown Indicator on IRT. It is the volume delta in the form of green and red candlesticks. The grey bars are volume delta momentum bars. If you don't know what IRT is, let me know.

Thanks fror the quick reply FT71!

I'm assuming this is the Investor/RT charting tool? That's a pretty nifty indicator... I like it. I'm landlocked on Ninjatrader at the moment since I'm also exploring the Bloodhound product as well. Investor/RT looks to be an interesting piece of software however.

Has anyone seen a similar tool that's NT compatable?

Best
Broman

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  #332 (permalink)
Elite Member
london united kingdom
 
Futures Experience: None
Platform: Sierra Chart, S5T
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para6ut's Avatar
 
Posts: 58 since Jun 2012
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NYSE NET issues

Please help - I know it must be something simple....

NYSE NET issues - what is it actually ?

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  #333 (permalink)
 Vendor: www.futurestrader71.com 
Chicago, IL, USA
 
Futures Experience: Advanced
Platform: S5 Trader, IQFeed, IRT
Broker/Data: Stage 5 Trading Corp
Favorite Futures: ES, M6E, FDAX, TF, NQ, GC
 
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para6ut View Post
Please help - I know it must be something simple....

NYSE NET issues - what is it actually ?

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NYSE net issues is also known as NYSE Breadth or the number of advancing stocks versus declining stocks by price.

Risk Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past Performance is not indicative of future results.


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  #334 (permalink)
Elite Member
london united kingdom
 
Futures Experience: None
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Posts: 58 since Jun 2012
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NYSE issues vs volume

'NYSE net issues is also known as NYSE Breadth or the number of advancing stocks versus declining stocks by price.'

Thanks a lot FT, in that case what is the difference with the net volume ?
Are they both being measured from previous day close?

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  #335 (permalink)
 Vendor: www.futurestrader71.com 
Chicago, IL, USA
 
Futures Experience: Advanced
Platform: S5 Trader, IQFeed, IRT
Broker/Data: Stage 5 Trading Corp
Favorite Futures: ES, M6E, FDAX, TF, NQ, GC
 
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Posts: 238 since Feb 2012
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para6ut View Post
'NYSE net issues is also known as NYSE Breadth or the number of advancing stocks versus declining stocks by price.'

Thanks a lot FT, in that case what is the difference with the net volume ?
Are they both being measured from previous day close?

NYSE Net Volume is measuring the net volume of those issues rather than the price.

Risk Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past Performance is not indicative of future results.


If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #336 (permalink)
Elite Member
Perth
 
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Harmonic Rotation help

Hi FT, I have calculated the harmonic rotation for the market I trade. The results are:

1 Sigma (70%) : between 1 and 5 ticks
1.66 Sigma (90%) : between 6 and 8 ticks
2 sigma : 9 ticks plus

All of 1 minute bars with min 2 tick pullback.

My question is around using these to determine target/stop scheme for trades, I just want to see my thinking is on the right track.

Based on the above would you place your stop at 6 ticks (just outside 1 Sigma) or at 8 (on edge of 2 Sigma).

Also, if trading in "half units" (full clip is split in 2), first scale at 4-5 ticks (just inside 1 normal rotation), 2nd scale at 6-8 ticks

If trading in "thirds" of a unit - as above + runner

Does that make sense? Am I somewhere in the right ballpark?

Thanks for your help.

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The following user says Thank You to spibok for this post:
 
  #337 (permalink)
 Vendor: www.futurestrader71.com 
Chicago, IL, USA
 
Futures Experience: Advanced
Platform: S5 Trader, IQFeed, IRT
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spibok View Post
Hi FT, I have calculated the harmonic rotation for the market I trade. The results are:

1 Sigma (70%) : between 1 and 5 ticks
1.66 Sigma (90%) : between 6 and 8 ticks
2 sigma : 9 ticks plus

All of 1 minute bars with min 2 tick pullback.

My question is around using these to determine target/stop scheme for trades, I just want to see my thinking is on the right track.

Based on the above would you place your stop at 6 ticks (just outside 1 Sigma) or at 8 (on edge of 2 Sigma).

Also, if trading in "half units" (full clip is split in 2), first scale at 4-5 ticks (just inside 1 normal rotation), 2nd scale at 6-8 ticks

If trading in "thirds" of a unit - as above + runner

Does that make sense? Am I somewhere in the right ballpark?

Thanks for your help.

Hi Spibok,

First of all, this study has to be built using the time frame in which you trade. So I'm going to go on the assumption that you will be tracking rotations using 1 min bars.

2 tick minimum pullback is pretty tight. What is the market you are study? You will likely see tons of rotations that give you little to work with once you give up a tick to get in.

Assuming what you have done is correct, my opinion is as follows:
  • My 1st scale would be inside of 5 ticks
  • My stop would be outside of 8 ticks
  • Your target then has to compensate for the 5-tick scale out versus 8 tick stop which leaves you with -3 ticks of exposure. So your target on a 2nd contract would be around 11-12 ticks

What is more important here, in my opinion, is that you need to watch for any rotations that are 10 ticks or bigger (greater than 2 sigma event). If you have an alert for a rotation set to 10 ticks or better, then this might be your 1st indication that the rotations are expanding well beyond what is "normal" and you need to pay attention especially if this happens near an area or level where you intend to do business. It can signal exhaustion OR the beginning of an impulsive move.

I know that is very technical and it is easier to just talk about it, but I hope you get my point.

Good luck and be militant about your risk control.

Risk Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past Performance is not indicative of future results.


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  #338 (permalink)
Elite Member
Perth
 
Futures Experience: Intermediate
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Hey FT, thanks for that. Great minds must think alike as post me posting my original findings I thought to myself that the 1min chart was a bit too tight in terms of timeframe and the 2 tick pullback was also a little punchy.

Results using a 2 tick Renko (which I feel comfortable with) and a 3 tick pullback are:

Sample Size = 984
Max =42
Min =3
Ave =9
VPOC for the rotation study is 6 ticks

1 Sigma : 3-9 ticks
1.66 Sigma : 10-14 ticks
2 Sigma : 15+ ticks

So based on your previous reply plus the amended stats from above a viable trade management scheme to start off as a launching point for further testing would look something like the following - Stop = 15 ticks , first scale = 6-9 ticks. if the first scale is achieved I am left with 6-9 ticks of risk on the table so second target needs to be around 15 ticks.

I hope I am making sense. I am a complete novice with Excel but basically took all your AMA's and Webinars and when you were walking through it I paused, zoomed in, copied the formulas from the screen, made mistakes, tried again, made more mistakes, rewatched the videos etc etc. Now I can pretty much do a rotation study in my sleep! Thanks again.

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  #339 (permalink)
Elite Member
Madison, WI
 
Futures Experience: Beginner
Platform: Ninjatrader
Favorite Futures: ES
 
Posts: 59 since Sep 2011
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Errors

You mentioned Joe's list of errors. What are the top 5 errors you see traders committing while trading? Thanks.

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  #340 (permalink)
Elite Member
Spain / Europe
 
Futures Experience: Intermediate
Platform: Ninjatrader
Favorite Futures: FESX, FGBL, ES...
 
Posts: 53 since Mar 2012
Thanks: 326 given, 21 received


Hi FT71,

I would like to know your opinion about Bid Ask Analysis (Footprint Charts)

Thanks in advance.

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