Here is the way i daytrade the Emini-YM

[bnaimy]

hey bashir video is great and very helpful.would be great if you could help me setup sierra charts in the way you have.im using the sierra charts real time data feed and i think the symbol is x for ftse 100.i can setup the 3min,10,min charts ect.im having trouble with the exponential lines ,do you change the settings in studies settiings?and how do you link all charts so pointer moves on every chart?also do i choose the intraday charts?sory if their stupid questions its just that all this is new to me.ive tried to read the manual but cant make sense of it

You just go to studies , and there u will find something called "Moving average exponential" just add that, and then go into its settings and change the moving average to the one u need.Simple as that.

The get the curser the way i have it just right click on any chart and then a list will apear , then choose "Global curser options" and then choose synchronize chart.
ANd thats its.

You can change the charts pretty simple , just left click once on any chart and then on your keyboard press "1m" and then press enter and u will make that chart into a 1min chart, you get the point from there. And if u want a tick chart u do the same but press
"89t" and u will get a 89tick chart.Or press "30m" to get a 30min chart.

I recommend you go to sierra charts and read up on how to do stuff, sierra have many funtions and that will make it easyer for you to learn.
They have a manual for everything there, so please put some efffort into it and u will do great

With kind regards
Bashir Naimy

 

[bnaimy]

Aha

Nice vid BTW Bashir.

Another question, if I may;

What if price reverses through all the ma's, the stochs change direction and are on your side - why not take the break of the ma's rather than wiiting for the retrace, for your first trade? Papertrading (I know, I know this last week appeared to show a high success rate doing this, rather than waiting for the retracement (clearly that's profitable too mind).....

Any experience of taking these set-ups?

Cheers,
UTB



PS FTSE's a yawn this morning!

I am glad you asked that question , cause i actualy do those breakouts myself sometimes as you mentioned, but i dont recommend them to newbes since they should first get comfy with the main setup.

WHat i do is that i wait for the 1min bar to close above the last ma,and then i just go marked, and when marked does a pullbakc i do that to
Basicly kill two flies in one shoot And from my experience when 1min bar closese above the last resistance then it usualy works out prettye well, especiall when both 10 and 30min are going up,if only 10 min is up and not 30min then i would recommend you be very carefull and do it with very few contracts. But when both are up, you can do your normal size.

With kind regards
Bashir Naimy

 

[bnaimy]

Bashir,

Also, interested in your attitude to congestion (acutal support / resistance) in the areas of entry. The MA's are clear, but what if price has been seen to clearly react at a level nearby - would you ignore this?


Cheers,
UTB

Glad you asked, i always look back at the chart and look for places where there have been alot of sideways action, and usualy those places are good places for support or resistance, i tend to stay away whenever price gets close to that area, i would like to wait for a break of that area or rejection and price going away from it .

Its something i do before i start trading, when marked opens, i tend not to careabout the intraday places of support. then i just follow my rules.
I only pay attention to places from yester day and premarked.

And i have horizontal lines in place when marked open

With kind regards
Bashir Naimy

 

[bnaimy]

Sorry about the delay with the writen rules, will post them for sure today, got home late last night, and my pc have not been good with me.

I think its a matter of time before my drive is done, getting old

Will post rules after todays trading, need to get some food before marked opens.

Good luck to everyone on your trading today .

With kind regards
Bashir Naimy

 

[laserwolf]

question on video

Hi chilltrader, i am glad you are liking the video.

You are right, that is a place where you could ahve taken it short, but not because price was below all resistance, cause price still had 1 more resistace on the downside, witch is the 20expon ma on the 30min chart at 9507.But since there was a gap of 70ticks from those two support areas then u could have taken it short at that point, reason i did not take that one is that i dont want to encourage people to do trades like that, reason is that their hitrate are not that good as to the normal trades.

With kind regards
Bashir Naimy

Hi Bashir,

Thanks for the awesome video!:clap:

I have a question on the crossing of support/resistance levels. In the video, you start looking for shorts at about 14:00 (chart time), as the 10 minute is heading down. But it seems like the price has'nt yet clearly broken the 20EMA on the 30 minute chart? It looks like the candlestick low does cross the 20EMA, but the rest of the candlestick is all above the support. Is that considered a break of the support?

thanks!

 

[bnaimy]

Hi Bashir,

Thanks for the awesome video!:clap:

I have a question on the crossing of support/resistance levels. In the video, you start looking for shorts at about 14:00 (chart time), as the 10 minute is heading down. But it seems like the price has'nt yet clearly broken the 20EMA on the 30 minute chart? It looks like the candlestick low does cross the 20EMA, but the rest of the candlestick is all above the support. Is that considered a break of the support?

thanks!

When looking for a break you only need to look at your 1min chart and see a 1 min bar close below the last resistance on the 30min charts 20ema.If the bar does not close below that last resistance, then you can NOT take that short. It needs to close below,and ideal i would like to see the second bar form below to,if it just form above then consider not taking that trade.

A 30min chart is pretty big, and its not easy for the eye to see when its exaclyt crossing, especiall in the video, u just use the value the lines is showing on the 30min, and when a 1min bar closes below that number, u go short if u want to do a breakout.

With kind regards
Bashir Naimy

 

[rob25]

thanks for your help metadome and bashir.everything is now setup great.but im having trouble with the sc real time feed it only shows data up to 7/11/08.ive tried everything to get real time data but have had no luck.whos the best data feed?all of them require an account to be opened?

 

[rob25]

p.s on the historical charts the days time frames start at 14.45-21.00.ive changed the time to london time in the settings so charts for ftde 100 should start daily around 8.00am right?

 

[bnaimy]

p.s on the historical charts the days time frames start at 14.45-21.00.ive changed the time to london time in the settings so charts for ftde 100 should start daily around 8.00am right?

In sierra, go to data/trade service settings and choose your timezone and the charts will show them in your timezone. Should be 5 hours diff from usa central to london.So it starts 8:30 in london.

With regards
Bashir Naimy

 

[bnaimy]

thanks for your help metadome and bashir.everything is now setup great.but im having trouble with the sc real time feed it only shows data up to 7/11/08.ive tried everything to get real time data but have had no luck.whos the best data feed?all of them require an account to be opened?

Yes, you need to have an account with one of the providers, live data feed is never fee of charge, i use infinity and they provide that data for me for free since i am using their platform.

WIth regards
Bashir NAimy

 

[laserwolf]

today

Hi Bashir, could you post some of your trades from today after close? i think it'll be helpful to see what you did today.
Thanks!

 

[bnaimy]

Hi Bashir, could you post some of your trades from today after close? i think it'll be helpful to see what you did today.
Thanks!

Here are my first 3 trades, i have mad a few others later, but kinda busy here so will post others as i get time.

With regards
Bashir Naimy

 

[laserwolf]

trade 2

Here are my first 3 trades, i have mad a few others later, but kinda busy here so will post others as i get time.

With regards
Bashir Naimy

Thanks Bashir.

A question about trade 2 (9:53 am). It seemed to me the 10 minute was flat (almost hooking up) when you took that short. Am I reading it wrong?

Cheers

 

[bnaimy]

Thanks Bashir.

A question about trade 2 (9:53 am). It seemed to me the 10 minute was flat (almost hooking up) when you took that short. Am I reading it wrong?

Cheers

It was flatt, but was slopping down, so was the 30min , i whent short but only with1 contract.

But it was valid, i was conserned that it was alittle flatt, but since both where down i dide go short, iw ould not recommend it for new traders though.Today was not a day of my liking, still dide my daily target,but was just not my kind of day.


With regards
Bashir Naimy

 

[clicksta]

Bnaimy

Was a good day. Five trades all winners. 151 ticks = $755.
I have an observation from today using this method, it seems that when it is retracing on the 1 min (you're short) the stochs turn up and it may go through the ema's. Do you wait for the 1min stoch to start turning down, as it looks like in your trade today 1 and 3 that they are heading up or do you wait for the low of the bar to be taken out?

 

[Popeye Doyle]

Great thread. Are your charts just from market open to market close (9:30 AM to 4:00 PM ET) or are you using 24 hr charts?

 

[bnaimy]

Bnaimy

Was a good day. Five trades all winners. 151 ticks = $755.
I have an observation from today using this method, it seems that when it is retracing on the 1 min (you're short) the stochs turn up and it may go through the ema's. Do you wait for the 1min stoch to start turning down, as it looks like in your trade today 1 and 3 that they are heading up or do you wait for the low of the bar to be taken out?

Hi,well i sometimes have a short limit close to the ema and sometimes i just go marked when price reaches the ema i am looking at, when both 30is down and 10 is down i just do the first possible retracement, cause then price is usualy contained buy the 15ema.

But whenever only 10 is down and 30 is up i pay more attention to the 3min, and would go short when 3min start to hook down again, or just put a sell limit at the 50ema if we are in a good downtrrend.If we are in a sideways marked and only 10 is down, i go short only after 3min have hooked down, but when both are up i do first possible retracement. THe 1min is mainly use to finetune my entry, what that does for me is to give me less stress, cause that makes me not get into a short to early, short will work but price being there for a 1-2 min really gets my nerves going.

What you can do sometimes is to just have a sellstop right under that last 89tick charts 89ema,cause when price retraces to the 15ema or 50ema, the 89tick charts 89ema is always behind it, so if u want to be extra safe, u can have sell stop right under the 89tick charts 89ema, that will nto give you the best fill but give you a much safer trade, if u are not sure if the ema's will hold or not.I do have to remind that your stops would not be that good then, i would then use 30tick stops, i was using 30tick stops today, volatility was up alittle, the vix chart spiked back to the 60 area.

WIth kind regards
Bashir Naimy

 

[_JWG_]

Bnaimy

Was a good day. Five trades all winners. 151 ticks = $755.
I have an observation from today using this method, it seems that when it is retracing on the 1 min (you're short) the stochs turn up and it may go through the ema's. Do you wait for the 1min stoch to start turning down, as it looks like in your trade today 1 and 3 that they are heading up or do you wait for the low of the bar to be taken out?

Good question Clicksta, I was just thinking the same thing. To me it looks like Bnaimy isn't overly concerned with the 1 min stochs... more with the retracments to the MA's on the 1min for entry.

Interesting.

JWG

 

[bnaimy]

Good question Clicksta, I was just thinking the same thing. To me it looks like Bnaimy isn't overly concerned with the 1 min stochs... more with the retracments to the MA's on the 1min for entry.

Interesting.

JWG

You are right m8, when both 30 and 10min is down, the 1min do whatever it wants to do, i am then paying more attention to the retracement to the ema, but i do look to have a eye on the 3min, that one can hurt you if only 10min is with u or if u see the 30min is no longer playing game with u.

The 1min is very nice to get a nice entry at the right time, cause why go in sooner the you have to, the only thing the 1min is good for is to fine tune your entry into the short of long area.

WIth kind regards
Bashir Naimy

 

[_JWG_]

You are right m8, when both 30 and 10min is down, the 1min do whatever it wants to do, i am then paying more attention to the retracement to the ema, but i do look to have a eye on the 3min, that one can hurt you if only 10min is with u or if u see the 30min is no longer playing game with u.

The 1min is very nice to get a nice entry at the right time, cause why go in sooner the you have to, the only thing the 1min is good for is to fine tune your entry into the short of long area.

WIth kind regards
Bashir Naimy

Yes thank you Bashir I have noted this

Great post... you are starting to develop a real following. Well done :clap:

Cheers
JWG