Using MiniDow Dayraider Upgrade

This is a discussion on Using MiniDow Dayraider Upgrade within the Trading Journals forums, part of the Reception category; Originally Posted by timsk Hi Mike, I congratulate you on your success so far, applaud your ambition, but question the ...

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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, 171 views)
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Old Aug 1, 2009, 6:14pm   #17
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Quote:
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, 1:14am   #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 2, 2009, 11:10pm   #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 2, 2009 at 11:56pm.
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Old Aug 3, 2009, 11:37pm   #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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Old Aug 5, 2009, 7:23pm   #21
Joined Jul 2009
mikez started this thread Just quick update. I'm still new to this platform but nevertheless doing ok for now. CLosed up $250 on tuesday and i'm done for the day today with $921 in the green. I'll post my charts later. Thanks for ready.
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Old Aug 16, 2009, 4:41am   #22
Joined Jul 2009
Still Working on my discipline

mikez started this thread Update on my trading using Dow behaviors and Dayraidor upgrade. It's not been as easy as i hopped it would be, but that was my "get rich quick" ideology which needs to go away. What Stuart teaches is not get rich quick but instead a disciplined and proven methodology. Discipline is something i really need to work on. If only fallowed the rules and traded the Dow behaviors, i would be at 20k already for the month. But instead i would loose most of my nice gains during the time when Stuart teaches not to trade. Discipline, discipline, discipline.

If one just stick to Dow behaviors that Stuart teaches, you can almost see to a minute and a point to where Dow would turn or stop, it's amazing info, and that along is worth the money. Thanks for reading.
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Old Aug 16, 2009, 2:28pm   #23
Joined Aug 2008
Well Mike don't feel TOO bad..you at least MADE $ b4 you lost most of it!

One concept I have been largely unsuccessful to replicate in my students is to teach them to think "where is the market now"? Let's say you turn on the monitor at 9:15 am Monday....the market is presently moving from a valid Dow Behavior/trade to some future reversal. You need to scroll back on the chart visually and "see" the cause of the current market. Then project where the next technical reversal will likely be (an institutional stop) and also project what the next likely Dow Behavior(s) might be.

An example might be that the overnight market is selling off substantially; instead of looking for a long opportunity, find the last short entry and then wait for the next legal short entry - if that legal short entry appears, TAKE IT....if you are subsequently stopped out (a small loss -- statistically that's going to be unlikely) then simply take the current SUPPORT number (in DayRaider Upgrade) level on the next retracement and enter long.

Go with the flow, have humility towards the market -- wait for the next low risk opportunity if you missed the last one (the Dow Behaviors will line up or a technical reversal will appear - just check your watch, the Dow runs on a train schedule!) .

You'll get it Mike, just wait for the Dow Behaviors!

The Mechanical Trader
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Old Aug 16, 2009, 6:31pm   #24
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Mike,
Sorry to hear you've had a few set backs. But, to be fair, that's to be expected. The idea that one learns a new methodology and hits the ground running and makes loads o' wonga day after day without any hiccups is unrealistic. So, as Stuart says, don't feel TOO bad! The key thing is that you seem to be aware of what you're doing right and, most importantly, what you're doing wrong. As this is a journal - your journal - it's main purpose is to facilitate your development as a trader. However, as you are aware, subscribers to the thread are particularly interested in your progress because you're trading Stuart's methodology. For both parties to get the maximum from the thread, I suggest you post all your trades, winners and losers. If you post the losing trades from last week and say what you did that caused the losses, this will make the journal more valuable for you and more insightful for those of us interested in Stuart's ideas. Just seeing a succession of winning trades - although impressive - isn't especially helpful or instructive.
Better luck next week!
Tim.
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Old Aug 20, 2009, 8:20am   #25
Joined Jul 2009
Update

mikez started this thread It's been fun trading. With this final Dayraider upgrade, i've been able to see the trade mile away. Up to this point, i've been braking rules and not following "dow behaviors" that Stuart teaches and also i've been not telling you that my most losses have been due to me moving my stops lower and lower as the trade turned on me. After i stopped doing that and just let it stop me out, my losses became very little, sometimes as little as two ticks and no more then 6ticks. I also stopped using too many contracts until my account really builds up. Today (Wed) i traded with one to two contracts and ended the day with $847 in the green. This new upgrade allowed me so many times to enter the trade and have my stop be only two ticks away and never get stopped out. I'll keep you guys updated, but so far it's looking great with this new upgrade, for now i'm sold. Thanks for reading
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Old Aug 20, 2009, 8:16pm   #26
Joined Jan 2009
Hey Mike. All the best in future. I hope for your continued success.
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Old Sep 16, 2009, 8:30pm   #27
Joined Jan 2004
any updates?
Hows the system coping with a one-way market out of interest?
Good luck
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