Here is the way i daytrade the Emini-YM

This is a discussion on Here is the way i daytrade the Emini-YM within the Discretionary Trading forums, part of the Methods category; Originally Posted by Gumping Hi Bashir Another silly question I'm afraid: Any times of day you prefer to trade this? ...

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Old Oct 9, 2008, 9:49pm   #16
 
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Originally Posted by Gumping View Post
Hi Bashir

Another silly question I'm afraid:

Any times of day you prefer to trade this? Any times you stay out?

Just wondering - if you live in Norway, then there is obviously a time discrepancy.
Hi Gumping, i trade when the markeds open usa time 09:30 and until 15:30 usa time.
SO i am basicly trading in marked hours, i dont trade after close or before.

SO basicly that means for me that i am sitting and trading from Norwegian time 15:30 until 21:30.

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Bashir Naimy
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Old Oct 9, 2008, 9:53pm   #17
 
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thanks for the clarification Bashir.

A further question if I may - typically, how long are you in each trade and how many trade opportunities per day are there?

UTB
Hi blades, glad to answear any of ur questions. I have usualy around 3-4 trades opportunities pr day. Weird thing is that its very stable , almost always 3-4 trades.
But that is enough for me since i trade 3 contracts and take nice profits, Because of recent volotily i have increaded my stop to around 30-35 tick, and my 3 profit targets for the 3 cars are , +15 +25 +45 = 85 ticks = 425 usd. pr 3car trade. I am risking around 450 as usualy. My hit ratio is very high, so this is a good level for me.

How long i am in a trade really depends on the
marked, but usual i am in the marked everywhere from 2min from 10mins,sometimes when marked is very volotile i can be out withing 1min.


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Old Oct 9, 2008, 10:01pm   #18
 
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How long have you been following this methodology ?

What's your average return & what are the drawdowns ?
Hi pedro,i dont have any average return, i have my fixed targets and i usualy get em most of the time. I get for each trade where i trade 3 cars is 425 dollors. SO u can say that average return pr.trade is 425 and i have around 3-4 trades pr day.

When it come to drawdown it all depends on your moneymanagment, i never risk more then 2% of my capital at each trade.I never risk more then 450 usd pr trade, higher risk would make it above 2% and that i dont like and my moneymanagment will not allow.


SO if i really wanna take a trade i rather use fewer cars and put a higher stop, if the marked is asking for that.

I have been using this method for around 4 months now and i have not had a negative day yett, most of the time i have 3 good trades, and 1 trade that i take partial profits with, so my average gain pr day is around 1200 something.

My plan so far is that i just keep doing this and build my account size and put on more contracts as my captial allows it.Disipline is what helps me keeep my goal,its easy to get carryed away and overleverage.


I hope that answer your question.
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Old Oct 9, 2008, 10:05pm   #19
 
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bnaimy started this thread Btw,this is my fulltime job,so i am very risk advert.Dont like risk, if i want action i would rather go to the casino. Trading is borring and should be borring , the day it gets exciting then u will defently loose its like anyother job.So the thing is that u should treat it as a business.

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Old Oct 9, 2008, 10:17pm   #20
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Hello Bashir , thank you for sharing your strategy , I have a question that might sound dumb , but my charting software does not give me 144 ticks charts only minutes is there a way to substitute the minutes or is the tick chart very important ?
Thanks in advance
Sonia
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Old Oct 9, 2008, 11:04pm   #21
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Great series of posts Bashir.

Have you tried to automate this system?
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Old Oct 9, 2008, 11:26pm   #22
 
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Hello Bashir , thank you for sharing your strategy , I have a question that might sound dumb , but my charting software does not give me 144 ticks charts only minutes is there a way to substitute the minutes or is the tick chart very important ?
Thanks in advance
Sonia

Hi Soumi, glad to hear that you like this method. Since you cant use a tick chart i recomend you instead use a 1min chart with 89exponentiol moving average and a 15exponential moving average.

I addid this 1min chart to my methos also, i found it to be even more accurate then the 144tick chart, i still use 144tick but together with 1min chart. The 1min chart with 89exponentila moving average contain the price very well, and whenever it gets broken with some volume, u usualy see a change in marked direction, and u can easly get around +50 ticks in the first run up.Check the 1min chart out with the 89expon ma and u will see how well it contains the price and when it breaks it catches speed and pushes up.

But the method is still the same, whenever u see price crossing the 1min 89ma then make sure u also are above (if long) the 144tick 89ma. The good thing is that usualy the 144tick chart 89ma is always behind the 1min 89ma and it works as support whenever u take the break the 1min 89ma. And its a good place to set stop right under the 144tick 89ma line.

If this is confussing please ask and i will try to asnwer as best as i can .

WIth kind regards
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Old Oct 9, 2008, 11:33pm   #23
 
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Great series of posts Bashir.

Have you tried to automate this system?
Hey MrGecko, i have not tryed to automate this method but i am very confident that this is something that could work very well if automated, i am trying to automate this with sierracharts.but i am just learning how to and its very difficult, even with my programing background with java. I guess i need to put more time into it.

The rules are pretty simple and the rules dont need a human to interp, cause either it is or not. Its actualy pretty interesting cause if automated it would have the a 90% hit rate . But wont know until i backtest it,i will look into and see if i can find someone who can help me getting this programed, and backtest this with 3 years or data and see how the results are . If this works, i will open a seperate account that this can be traded with.And another that i trade myself.

Thanks for the idea Mrgecko, i had really put that idea in the shelf cause of the time it takes to progrma it, time to dust it of and see where we get with it.

Ill keep u guys informed if i get this to work

With kind regards
Bashir Naimy

Last edited by bnaimy; Oct 9, 2008 at 11:39pm.
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Old Oct 9, 2008, 11:36pm   #24
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Thanks Bashir for your quick response , I will give it a try tomorrow fisrt thing in themorning and follow up with any profits I make hopefully no losses lol !!
Kind Regards,
Sonia
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Old Oct 9, 2008, 11:42pm   #25
 
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bnaimy started this thread Been a good day today, tottal of 6 trades and 6 of 6 was 100% gains.
Gain pr trade was 425 - 15usd(commision).with the new profit targets + +15 +25 +45. since marked is volotile., will lower this when markeds gets back to normal,whenever that might be.


Just wanted to share, not everyday i have 6 trades in one day.Usualy 3.

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Old Oct 10, 2008, 8:40pm   #26
 
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bnaimy started this thread Had a tottal of 4 possible trade and all of them where winners with big gains. Its a shame i dident take them at all, the marked is so volatile that i am not comfertable with taking 70-100 tick stopsloss. Hopefully the marked will calm down, this is just crazy.
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Old Oct 11, 2008, 12:22am   #27
 
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bnaimy started this thread Hey again gents and girls, i will on monday try to make a video of my trading session while i am trading and hopefully show how i am really using this method to trade. I will post the link here after i have uploaded it to youtube.

I just found something really interesting, i checkd the charts back 8 months, and the method have never been stopped once, if you follow the rules that is Anyways, will give you all more info when i can automate it and see the results over a long period of time.

With kind regards
Bashir Naimy.
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Old Oct 11, 2008, 8:44am   #28
 
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Hey again gents and girls, i will on monday try to make a video of my trading session while i am trading and hopefully show how i am really using this method to trade. I will post the link here after i have uploaded it to youtube.

I just found something really interesting, i checkd the charts back 8 months, and the method have never been stopped once, if you follow the rules that is Anyways, will give you all more info when i can automate it and see the results over a long period of time.

With kind regards
Bashir Naimy.


Very kind of you Bashir. Look forward to it.
Eight month winning record? Very impressive.
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Old Oct 11, 2008, 4:57pm   #29
 
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Bashir,

when awaiting for confirmation from MACD, do you consider it important where the lines cross - ie - does a buy signal have to be in negative territory, and a sell in positive?

Cheers,
UTB
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Old Oct 11, 2008, 7:40pm   #30
 
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Bashir,

when awaiting for confirmation from MACD, do you consider it important where the lines cross - ie - does a buy signal have to be in negative territory, and a sell in positive?

Cheers,
UTB
Hi blades, where the macd crosses is nothing i dont give any thoughs to, i just go long or short whenever it crosses, no matter if its above the 0-line or below. The thing is that, buy the time the price crosses the 144tick chart 90expon ma or the 1min 89epxon ma, the macd is allready crosses and showing a nice move up, if i am very sure that the marked is heading up i will sometimes go long or short with a very light position and buy or short before the price crosses 89expon ma.And when it does crosses the ma i add more contracts, by that time i have allready a solid profit on the first long or short .
But when you want to go long or short before price have crosssed the 89expon ma, then i always wait for the macd to cross and then do my longs or shorts.

I try not to predict the movment to much, but sometimes everything is alligned very early and everything tells me to go long.

Hope this answers ur question? Just ask if there is something unclear.

Best of wished you Blades in your trading


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Bashir Naimy
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