How Do DayTraders Make Money in the Futures Market?

This is a discussion on How Do DayTraders Make Money in the Futures Market? within the First Steps forums, part of the Reception category; Originally Posted by Deucalion Damn....I thought he was all gaseous and all that but he does make valid points, PitBull's ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Jul 10, 2009, 5:12am   #141
Joined Aug 2008
mechanicaldaytrader started this thread
Quote:
Originally Posted by Deucalion View Post
Damn....I thought he was all gaseous and all that but he does make valid points, PitBull's chart does infact throw out patterns that are usually symmetrical, at least on that one.

But isn't this pattern recognition taken to new heights, bloody hell if you are saying these patterns are relentlessly symmetrical AND recurring with such clarity AND that your method has been able to convert them into strict mechanical signals then hats off to you....

Shouldn't you be able to add entry/exit paint bars when such conditions coincide as well for idiots like (well like me....for example) that can't recognize patterns half the time....?
btw..it's not all patterns...the time/price/behavior rules (maxx of 6 of them) take precedence over any pattern....then DayRaider will measure if it is mechanically overbought (for sell reversals) or oversold (for buy reversals).

If you miss a reversal to a trend, the DayRaider Upgrade will always get you in on the easy second long entry or second short entry...they're 100% mechanical, just wait for the retracement to be analyzed by the custom indicator...if it's a go, enter a limit order with tight stop. You know you have a winner because the previous trading range has turned into a trend and the trend only has one rule for it to continue - it's all graphical and can be copiously backtested as far back as Tradestation has data.

Cheers!

Stuart K.
mechanicaldaytrader is offline Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Old Jul 12, 2009, 4:12pm   #142
Joined Aug 2008
DayRaider Upgrade examples

mechanicaldaytrader started this thread
Quote:
Originally Posted by Deucalion View Post
Damn....I thought he was all gaseous and all that but he does make valid points, PitBull's chart does infact throw out patterns that are usually symmetrical, at least on that one.----------

Shouldn't you be able to add entry/exit paint bars when such conditions coincide as well for idiots like (well like me....for example) that can't recognize patterns half the time....?
sorry, my initial answer was a little on the theoretical side; below are two screen shots of DayRaider Upgrade that mechanically (objective, no emotion, just facts & figures & time rules) measures when
  • Downtrends should continue to be sold
  • Positions are covered when the Downtrend ends
  • Long Positions are taken after the Downtrend Ends
  • Uptrend continues via time rules and a second Long Entry is taken
  • Uptrend goes into a Negative Deviation HS, long entries exited & new short taken

Paintbar matrix:
Orange = market top (look for overbought conditions/ exit longs, initiate shorts if Negative Deviation, time rule/ price rule apply ; if these bars do NOT occur at the cycle high, ignore

Green = Uptrend (look for oversold condition ending / exit shorts, initiate longs if Positive Deviation, time rule/ price rule apply; if these bars do NOT occur at cycle low, ignore

Magenta = Downtrend (look for lower lows to occur, if these plot on cycle lows, aggressively short cycle highs at time, price rules at descending Green/dotted Red.

Horizontal lines matrix:
Dotted Red - This is one of the 3 causes of all reversals taught in Fundamentals of Futures Trading course - Uptrends will honor this support and must create higher highs; Downtrends will honor this or a previous higher level and must create lower lows;

Green This outlines the two chart patterns that cause reversals up as taught in Fundamentals course; simply put, when the line goes up or is coequal and you have time / price rules hit, close shorts, enter long. This indicator works with the big white circles that find the lowest low of the market, where shorts should be closed and possible longs initiated.

Powder Blue This outlines the two chart patterns that cause reversals down as taught in Fundamentals course; This indicator works with the big yellow cirles that find the highest high of the market, where longs should be closed and possible shorts initiated. HS, DT and price climaxes are clearly caught with this indicator using the time / price rules of the Dow.

Other Logic

Stop losses are never outside the yellow or white dots when initiating a position. As support indicators rise, additional long entries can be entered with tight stops below. If the market is not honoring Uptrend rules then no more long entries are entered.

As resistance indicators descend, additional short entries can be entered with tight stops above. If the market is not honoring Downtrend rules, then no more short entries are entered.

ummm..yeah...the Deviation indicator is NEVER wrong [red & green horizontal lines of this indicator]..the HISTOGRAM at the bottom is merely a guide to measure the buy or sell formation and to confirm low risk entries as trends continue. That's how you really pile up the points and limit risk - you can keep selling during long downtrends and keep buying during long uptrends...the indicators rule, it's their field of battle - they take no prisoners, just check the One Minute Methodology chart (not shown) then click the mouse.

The Mechanical Day Trader
Attached Thumbnails
dru-downtrend-ends-trading-range-follows.jpg   dru-downtrend-ends-buy-reversal.jpg  
mechanicaldaytrader is offline Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Old Jul 17, 2009, 4:52am   #143
Joined Aug 2008
Scam! Scam! Scam!

mechanicaldaytrader started this thread ...it's probably best to let "sleeping dogs lie"...but then I never do anything the easy way, right?

From the guy that never did any homework, he has thoughtfully posted (what he thinks) are fatal flaws of the One Minute Methodology. Well, at least NOW I get to check his homework!

Click here to see each of my comments following his attempt at replicating the Methodology. Noble attempts but flawed, nonetheless.

I'll have "time & sales" brokerage reports up on my daytrading efforts in the near future. Links will be posted on this thread.

The Mechanical Day Trader
mechanicaldaytrader is offline Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Old Jul 17, 2009, 8:09pm   #144
Joined Aug 2008
DayRaider Upgrade - FINAL

mechanicaldaytrader started this thread DayRaider Upgrade development is now complete, I had to do about a week or so of live trades to test and refine each of the indicators. Screenshot of July 17 is here with explanatory text here.

For those that are familiar with the Fundamentals course I have taught, you will instantly recognize several textbook trades in the screenshot.

Concepts behind this trading methodology are:
> trade with the institutions
> have tight stop losses
> have known profit objectives, if they are surpassed hang on until the next mechanical reversal or profit objective is attained
> quantify your entry, exit of your trade by "time", since the Dow runs on a time schedule
> trade every day and expect to make 50 to 150 points, with no repetitive losses
> use the same methodology and trade style all the time, no re-thinking or 'back to the drawing board'
> backtest every type of trade (there are four) and paper trade before live trading

My conclusion? If you don't do most or all of the above, you will lose your shirt over the long haul. However you get there is fine, to each his own.

Good Trading!


The Mechanical Day Trader
mechanicaldaytrader is offline Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Old Jul 18, 2009, 4:41pm   #145
Joined Aug 2008
mechanicaldaytrader started this thread In answer to numerous emails wanting more info, I've published an online manual that subscribers can use to maximize their trading experience using the DayRaider Upgrade FINAL. It is written in such a way that newbies and non-subscribers can (hopefully) gain an understanding of how this low risk trading platform is constructed. My trading rules are identical for selling or buying, the math/logic is simply reversed.

When building this intraday charting platform, more emphasis is made at determining if SUPPORT is being honored by current prices. As long as recent support is being respected by the market, then the rest of the trading rules are pretty simple. When support is not being respected by the market, the market is then OVERBOUGHT and the mechanical trading systems (that control the Mini Dow) are short. Using a couple simple time and price behaviors, the daytrader exits long positions and looks for one of the 2 mechanical short positions to enter.

GOOD TRADING EVERYONE!

The Mechanical Day Trader
mechanicaldaytrader is offline Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Old Jul 19, 2009, 10:54pm   #146
Joined Aug 2008
Trading Secrets Revealed When Using The DayRaider Upgrade

mechanicaldaytrader started this thread Trading Secrets Revealed When Using the DayRaider Upgrade...

positive deviation + coequal green + 2 Dow Behaviors = 100% buy

negative deviation + coequal red + 2 Dow Behaviors = 100% sell

The Mechanical Day Trader
mechanicaldaytrader is offline Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Old Jul 21, 2009, 11:28pm   #147
 
4 Posts
Joined Jan 2009
are you still trading?

Just wandering if you are still trading



Quote:
Originally Posted by mechanicaldaytrader View Post
send me an email at my profile email address to discuss further

This forum seems to not allow posting of jpgs or graphic images, (which I find very odd). The Forum server could simply scan the image for viruses and then post it to the thread if it was ok. When I post a link to my blog, it's considered advertising....sooooooooooo....just email me.

Regards,

The Mechanical Day Trader
Brando is offline   Reply With Quote
Old Jul 22, 2009, 12:45am   #148
Joined Aug 2008
mechanicaldaytrader started this thread ....my 'wandering' days are over....the answer is "yes"

The Mechanical Day Trader
mechanicaldaytrader is offline Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Old Jul 22, 2009, 4:03pm   #149
Joined Aug 2008
DayRaider Upgrade Coequal Green Long Entry

mechanicaldaytrader started this thread Market Open today; you're long and up about 80+ points on 2nd profit objective (so far); up about 50 points on the first profit objective.

The Mechanical Day Trader
mechanicaldaytrader is offline Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Old Jul 22, 2009, 6:40pm   #150
Joined Aug 2008
mechanicaldaytrader started this thread another long entry today, same trading rules....

here are the direct screen grabs for today's two simple long entries so far...

morning trade entry
noon trade entry

The Mechanical Day Trader
mechanicaldaytrader is offline Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
How much will make you happy and how long will it take you to make that much money? clylbw The Foyer 7 Feb 24, 2010 5:22pm
Dutch speaking futures daytraders rverheyen Meetups 1 Jun 16, 2008 9:32am
How do market makers make money in futures markets femi73 Futures & Options 4 May 14, 2007 1:25pm
How to Make Money Trading Futures MarketMaster Futures & Options 6 Jan 21, 2002 10:10am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)