Using MiniDow Dayraider Upgrade

This is a discussion on Using MiniDow Dayraider Upgrade within the Trading Journals forums, part of the Reception category; Today (Friday) was much better day. Yesterday i had my behind handed to me b/c i played with "new toy" ...

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Old Jul 31, 2009, 5:18pm   #11
Joined Jul 2009
Another good day

mikez started this thread Today (Friday) was much better day. Yesterday i had my behind handed to me b/c i played with "new toy" too soon without getting my eyes use to seeing it in real time. Like any "toy", if you don't know how it works, you'll get heart.
Today i traded with 3 contracts. By the way, i didn't tell you guys that i trade of 19" inch monitor laptop and I'm doing it at work. It's kind of hard b/c i have to click between Tradestation and my OpenEcry entry platform. But i trade how i can at this time, and maybe one day I'll be able to trade from home with couple of monitors.

Here is the trade for the day. Bought 3 at 10:06 at 9097, then sold one at a time. First sold at 9110, second sold 9117 and third sold at 9161.
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july-31-ts-1.png   july-31-1.png  
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Old Jul 31, 2009, 11:14pm   #12
Joined Jul 2009
mikez started this thread Ended the day with $950 in the green. So far I love this platform. I've tried many trading platforms, and so far this one has been almost too good to be true. My goal for August is $20,000. I'll try to stick to 2 to 4 contracts. I'll keep you posted. And i'll do a snap shot of my August total at the end of the month. Thanks for reading.
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Old Aug 1, 2009, 3:08am   #13
Joined Feb 2008
Well done Mike !
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Old Aug 1, 2009, 11:58am   #14
Joined Aug 2008
$1,000 dollars a day keeps the _______ away...

Kudos Mike! Patience, good money management and use the charts to eliminate "fear" and "greed" in trading...take what the market gives you, use the Dow Behaviors and keep your entries between S2 and R2, with Dow Behaviors at the edges of each trade.

Keep up the good work and enjoy your new "TOY", sorry for the first day follies, you'll love TOY the more you use it....and it never needs batteries!

Stuart K.
The Mechanical Day Trader
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Old Aug 1, 2009, 2:12pm   #15
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Quote:
Originally Posted by mikez View Post
My goal for August is $20,000. I'll try to stick to 2 to 4 contracts. I'll keep you posted. And i'll do a snap shot of my August total at the end of the month.
Hi Mike,
I congratulate you on your success so far, applaud your ambition, but question the wisdom of announcing your goals to the likes of us lot on T2W! Assuming 20 trading days for the month and that you trade 4 contracts, you'll need to make a minimum of 50 points per day to achieve your target. Given that it's still early days using Stuart's new upgrade, plus the fact that you're trading at work, I wonder if perhaps you're being over optimistic? These boards are littered with traders trying to make a set dollar amount in a fixed time period. I can't remember the last time anyone hit their target. Perhaps I'm just conforming to type and being a negative 'glass half full' Brit'? Quite possibly. ;-)
Anyway, I for one will be very impressed if you achieve just 25% of your target. Good luck!
Tim.
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Old Aug 1, 2009, 3:45pm   #16
Joined Aug 2008
July 30th ten minute chart analysis

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Originally Posted by timsk View Post
Hi Mike,
I congratulate you on your success so far, applaud your ambition, but question the wisdom of announcing your goals to the likes of us lot on T2W! Perhaps I'm just conforming to type and being a negative 'glass half full' Brit'? Quite possibly. ;-)
Anyway, I for one will be very impressed if you achieve just 25% of your target. Good luck!
Tim.
Yes Tim, there continue to be SOME big differences between Brits and Yanks.

I suggest you open up a ten minute chart on Friday's trading and plot these reversal points on the Dow Futures.

[1] DOW AM LOW 9072 (8:30 am announcement, Globex session)
[2] AM HIGH 9173
[3] AM SELL OFF 9116
[4] PM EARLY TOP 9160
[5] PM EARLY SELL OFF 9124
[6] PM FINAL HIGH 9177
[7] SELLOFF TO CLOSE 9095

Attached is a spreadsheet with the 7 points and the 6 trades between those 7 points. Assuming a DayRaider Upgrade user was able to enter successfully HALF of those trades and subtracting 5% for slippage/commission (no one can expect to get in at the highest high or the lowest low)...if the trader entered 3 contracts at each trade entry point, the net profit is over $2,600. You can lower the trader's efficiency to 33% and still be at $1,000. Since Mike is trading while at the office working for THE MAN...a 33% efficiency is probably realistic.

July 30th was an average day, typically Mondays are monster trading days, with bigger ranges between each key reversal point in the morning and afternoon.

Also, considering that Mike catches the end of the Globex to Dow Cash trade and holds on, there is typically 150 points per contract in the first two major reversals most every morning. (Mike can just trade the Dow Cash Open reversal and the reversal that follows that and he's done for the day. )

So Tim, if Mike just keeps executing as well or better than he has in his first week, he probably can hit his $1,000 profit objective by 10:30 or at the latest 11:30 am most every day.

This is all theoretical, after the cars crashed analysis; but the methodology can be backtested and, once learned, used realtime to grasp just how profitable daytrading the Mini Dow is.

Cheers!

The Mechanical Day Trader
Attached Files
File Type: xls #JULY 31 2009 TEN MINUTE CHART REVERSALS.xls (9.0 KB, 98 views)
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Old Aug 1, 2009, 7:14pm   #17
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Originally Posted by mechanicaldaytrader View Post
Yes Tim, there continue to be SOME big differences between Brits and Yanks.
Ain't that the truth!

Thanks for the comments - I shall follow Mike's progress with interest.
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Old Aug 2, 2009, 2:14am   #18
Joined Jan 2009
congrats MikeZ. Could you possibly post the daily statements from your last 3 days. Of course blank out your personal info. Again congrats.
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Old Aug 3, 2009, 12:10am   #19
Joined Jul 2009
mikez started this thread Vrtrop22b, i'll post it this week. I'm looking forward to this week and month.

Last edited by mikez; Aug 3, 2009 at 12:56am.
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Old Aug 4, 2009, 12:37am   #20
Joined Jul 2009
Red day.

mikez started this thread I started the day in green, was up $500 on my first entry, but got so greedy and was thinking i'll get my $1000 on my first entry, lost it all b/c i broke the rules and moved my stops back too low. Ended the day in red $216. I was really busy at home and then at work, not a good way to have a clear head when trading. The setups where there as dayraidor indicated but for some reason didn't take the trades. The long setups look very easy and work almost 100% of the time, i just don't have the shorting part in yet, and that's what's kicking my behind right now, still. Need to take a little breather and get back to it tomorrow. Thanks for reading.
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