Using MiniDow Dayraider Upgrade

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Old Jul 30, 2009, 9:05am   #9
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Hi Mike,
What are the issues / problems you're having trading short?
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Old Jul 30, 2009, 2:26pm   #10
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Hey Tim; he's been coached to learn and do one thing at a time...he's practicing and executing long entries and doing it well, I might add. In time, he'll get the shorts...there is only so much that can be imparted in a teaching mode and only so much that can be absorbed and executed well.

Good job Mike! Here's this morning's short setup after the 8:30 am announcement.. Those that are familiar with the methodology will see why.

This shows the last part of the DayRaider Upgrade, called the "DayRaider Toy" (the chart at the top). It moves pretty fast (a tick chart) but catches all the institutional stops before, during and after the market turns. There's a couple mechanical longs and shorts. Mike is going to be using the long mechanical reversals if he wants to, otherwise he just stick to using the bottom chart shown (DayRaider Upgrade).

The Mechanical Day Trader
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Old Jul 31, 2009, 4:18pm   #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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Old Jul 31, 2009, 10:14pm   #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, 2:08am   #13
Joined Feb 2008
Well done Mike !
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Old Aug 1, 2009, 10:58am   #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, 1:12pm   #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, 2:45pm   #16
Joined Aug 2008
July 30th ten minute chart analysis

Quote:
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, 139 views)
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