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; Thanks for the post. I find at times like this, a lot of the faster moving stocks will stop you ...

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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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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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Old Oct 17, 2008, 6:07pm   #61
 
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bnaimy started this thread Hi guys, just a little thing on the side, i have this link where u can watch bloomberg tv live on the internett.Just incase anyone are interested.

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Old Oct 18, 2008, 1:00pm   #62
 
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bnaimy started this thread Here are two trades that i did on friday, with my modified method. Seems to work just fine, and getting little to no heat.

There is explenations in the pictures, if there is anything that is unclear or you want to ask a question , please do so and i will answer them as best i can .Made up for my loosing day 2 days ago., i fell alot better now


With regards
Bashir Naimy
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trade1.jpg   trade3.jpg   trade4.jpg  

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Old Oct 21, 2008, 12:01pm   #63
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Hi,

have you tried this using longer timeframes and on products like Bunds... Or is this technique more suited to equity and ccy markets.
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Old Oct 21, 2008, 1:46pm   #64
 
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Hi,

have you tried this using longer timeframes and on products like Bunds... Or is this technique more suited to equity and ccy markets.
Should work on longer time frames, to... You just multiplie all the charts with that time frame u want.

I u want longer time frame u can feks take each chart and multiplie it with 3x or 4x and u will get a longer timeframe. I have not tryed this method other than futures,but the concenpt should work on any marked.

You should try it out on a simulator account and seee how it workds out for you m8, please give use some feedback on this post, would be nice for other traders to get that info,good luck to you.

WIth kind regards
Bashir Naimy
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