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 bnaimy Hi again, dide some trading today premarked with the same method, and the conclusion is that ...

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Old Oct 14, 2008, 3:29pm   #46
 
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Originally Posted by bnaimy View Post
Hi again, dide some trading today premarked with the same method, and the conclusion is that its not recommended.I am not saying it dont work, cause it does.

Here are a few problems i encountered during trading:

1: Alot of chopp, expect alot of spikes out of the blue, so stops would need to be high.
2:Volume is very low so stochastics and macd dont act as reliable as i though,and they can turn from
being very negative to going positive very fast. So that dont fit my style.
3:Trading speed varie alot, sometimes there is alot of activity and then its nothin for a long time, and tick charts are useless cause of to few trades.

So i will not recommend this style for premarked, it will work but will most of the time take alot of heat and give you a weak heart lol

Anyways, i will give it a few more days to see if there is any point in using it premarked, so far i had limited success with it, 2 trades so far with +10 +20 targets, but price come to close to my stops, and not really into that, hate taking to much heat on any trade.

I will try with different settings for macd and stoch for the premarked to see if i can make them more responsive.

Happy trading today

With kind regards
Bashir Naimy
I'd noticed the ame with tick charts pre market - slower than 5 min charts at times.

UTB
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Old Oct 14, 2008, 3:48pm   #47
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Hia Bnaimy

If u trade 2day could u show some screen shots of yours trades please
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Old Oct 14, 2008, 3:50pm   #48
 
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Hi,
Have you thought of doing some live trades ?
and reasons why
Would be interesting

Gratulationerna du er gör brunn
Hi Pat, what do you mean with live trades?
I am trading this method as we speak, do you want me to post results ?

Dident really understand he gor brunn sentence ?
I do speak norwegian, but did not understand that !

With kind regards
Bashir Naimy
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Old Oct 14, 2008, 3:56pm   #49
 
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Hia Bnaimy

If u trade 2day could u show some screen shots of yours trades please
I will do so, just need to get done trading first, will post when im done trading.

With regards
Bashir Naimy
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Old Oct 14, 2008, 4:20pm   #50
 
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Originally Posted by bnaimy View Post
Hi Pat, what do you mean with live trades?
I am trading this method as we speak, do you want me to post results ?

Dident really understand he gor brunn sentence ?
I do speak norwegian, but did not understand that !

With kind regards
Bashir Naimy
No pressure if you would rather not but it would be instructive I feel if you said. eg
long at 9kkkk stop xx target yyyy plus reason soon after the trade

I think that was Swedish but maybe not ( Congratulations you are doing really well !)
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Old Oct 14, 2008, 5:54pm   #51
 
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No pressure if you would rather not but it would be instructive I feel if you said. eg
long at 9kkkk stop xx target yyyy plus reason soon after the trade

I think that was Swedish but maybe not ( Congratulations you are doing really well !)
No pressure at all, i am planning of of these days to do a video and put it out on youtube and put the link here, just need to get time to get it done, been pretty lazy to be honest.

I promise i will put out a video soon, just need a kick in the ass and get it done, will post charts of trades taken today with the method posted.

I think what u wrote was swedish, its pretty similer to norwegian though

HAppy trading to you

With kind regards
Bashir Naimy
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Old Oct 14, 2008, 9:18pm   #52
 
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bnaimy started this thread Hi, as people2008 requeted i have now taken pics of todays trading , its been a ok day.

Had a tottaly of 3 trades today, but its been a really stressfull day, many places where u could have been eager to take a trade.

In each pic there are explanations.

With regards
Bashir Naimy
Attached Thumbnails
trade1.jpg   trade2.jpg   trade3.jpg  

trade4.jpg   trade5.jpg  
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Old Oct 15, 2008, 5:38pm   #53
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Thanks bnaimy

like the way u do it. Just to make sure, that is the 2min chart u use & not the 3min yes?

Thanks again
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Old Oct 16, 2008, 1:26pm   #54
 
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Thanks bnaimy

like the way u do it. Just to make sure, that is the 2min chart u use & not the 3min yes?

Thanks again
Hi people2008, the 2min chart u see there is usualy a 3min chart, i sometimes change the 3min chart to a 2min chart just get in early when i see then 3min is topped out. You dont need to use it , its just something i prefer sometimes.

With regards
Bashir Naimy
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Old Oct 16, 2008, 3:30pm   #55
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Hi bnaimy,

Congratulations - this is such a great thread that it has prompted me to write my first post. I scalp trade the EURUSD using similar principles. I use 60min, 10min and 2min charts and whilst it is nice to get all three trends in line I tend to trade the 10min for direction and cutbacks in the 2min for entry. I plot channels formed by short term averages of the highs and lows and use breakouts from the channels in the direction of the 10min trend for entry and the opposite channel as the stop.

I like your 3 car staking and fixed target idea and I am going to look into that for the FX market I trade.

I use Tradestation as the platform and broker but being UK based I want to change to a UK broker. I have had no problems with Tradestation and I am currently trading a CMC S/B account alongside to see how that works out. In spite of all the negative stuff people say about S/B accounts and scalping I have so far found fills to be fast and very similar to my Tradestation A/C. My scalping trades can be from 1 or 2 minutes to 10-15 minutes, rarely longer and so speed of fill and closeness to quoted price are fundamental. If anyone has any suggestions for brokers or S/B accounts that work well for this type of trading then I would be very grateful for any suggestions.

Again thanks for this thread Bashir - it's terrific.

JKM
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Thanks! The following members like this post: BSD
Old Oct 16, 2008, 8:20pm   #56
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Thanks again bnaimy

keep it up. Anymore more of them charts would be great
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Old Oct 17, 2008, 1:27am   #57
 
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Thanks for the post.

I find at times like this, a lot of the faster moving stocks will stop you out if you place your stop loss on the MA line. I typically trade larger cap stocks with higher price movement so that might account for it.

Has anyone ran this system during times where things have not been as volatile? I would suspect it would function better under normal conditions. Not criticizing, just curious as back testing has kicked me out almost every time on every stock pick I typically use.
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Old Oct 17, 2008, 3:43pm   #58
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Hi,

Love the posts and the comments, obviously the markets are extremely volitile at present, i actually used to trade bund/ bobl / schatz from levels, but this makes alot more sense. The question I have is does this system work in less voltile market conditions?
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Old Oct 17, 2008, 5:54pm   #59
 
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Quote:
Originally Posted by jkm View Post
Hi bnaimy,

Congratulations - this is such a great thread that it has prompted me to write my first post. I scalp trade the EURUSD using similar principles. I use 60min, 10min and 2min charts and whilst it is nice to get all three trends in line I tend to trade the 10min for direction and cutbacks in the 2min for entry. I plot channels formed by short term averages of the highs and lows and use breakouts from the channels in the direction of the 10min trend for entry and the opposite channel as the stop.

I like your 3 car staking and fixed target idea and I am going to look into that for the FX market I trade.

I use Tradestation as the platform and broker but being UK based I want to change to a UK broker. I have had no problems with Tradestation and I am currently trading a CMC S/B account alongside to see how that works out. In spite of all the negative stuff people say about S/B accounts and scalping I have so far found fills to be fast and very similar to my Tradestation A/C. My scalping trades can be from 1 or 2 minutes to 10-15 minutes, rarely longer and so speed of fill and closeness to quoted price are fundamental. If anyone has any suggestions for brokers or S/B accounts that work well for this type of trading then I would be very grateful for any suggestions.

Again thanks for this thread Bashir - it's terrific.

JKM
Hi JKM, nice to hear that you like the post, we seem to be trading very similer and your system seems make alot sense. I have he past 2 days put my method on a freeze, reason is that marked is very volatile,the stops are to high for this method and will give you a hearthattacke if ur new to trading. And there are alot of times the markes starts to chopp around the 1minchart 89expon ma, and u really need some experience to avoid that, or be good at reading that price is trapped betwen the ma, on the different timeframes.

I am currently using a modified version of this method now because of the high chop these days, i am still using the same idea with the same timeframes, but now i am not looking for price to cross the 1mincharts 89xpon ma, i wait for 10min to be on my side, then i wait for price to get to a place of support, then i take it long/short when the 1min is at the bottom crossin back up, this works very well now in this marked right now.Its as simple as it gets, on thing though , When the 3min is very oversold or very overbought, i will not take the trade, unless also 30min is on my side, but currently i dont pay that much attention to it, but its nice to have it on ur side, since its influicing the 10min.

I will get back to my normal method as i posted first, but right now i dont see the benefits of using it at the moment, its still profitable, but to high stops and will give you a weak heart

Had my first loosing day yeserday, but my own fault, dide not pay enough attention and traded agains the 3min, i guess i was revenge trading

I will post a few chart with he trade i have taken to show how this modifed method works,if used correctly u will get very little heat and get a around 30-50 ticks targets with the volatile marked that we have.

But i still use my same profit targets, just to minimize my risk and grab some profits, while i and trade, and let the last contract run. IF you want to trade futures, then i would choose infinity futures cause of their speedy execution of trades and fills and prices are very good. What do you mean with s/b account?
I have not tryed tradestaion, but they seems to have alot of bad fills and sometimes the price laggs.

With kind regards
Bashir Naimy
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Last edited by bnaimy; Oct 17, 2008 at 6:30pm.
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Old Oct 17, 2008, 5:55pm   #60
 
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Originally Posted by clbfjc View Post
Hi,

Love the posts and the comments, obviously the markets are extremely volitile at present, i actually used to trade bund/ bobl / schatz from levels, but this makes alot more sense. The question I have is does this system work in less voltile market conditions?
Hi clbfjc, this method works alot better in less volatile markeds, right now its just keeping its head above the water, when the markeds where calmer this was working even better and you stops dident need to be that higher either.

So if u want to use this method in a less volatile marked, then this will do even better and ur risk to reward would be even better since of the low stops, right now i am usinga modifed version of my metod to trade,since the marked is volatile and requires to high stops, and i really dont like high stops.

Will post a few charts to illustrate the modified version.



WIith regards
Bashir Naimy
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