Here is the way i daytrade the Emini-YM

[bnaimy]

Hi Bashir,

Well done! A real simple strategy beautifully described and refined. I have just finished going over every page and loved the evolution of the strategy to its current form.

One thing I'd be careful about is getting sidetracked to marketing this. You are a natural trader, believe me marketing or anything other than trading will dilute your focus.

I believe your chat room will really get your skills refined and those of us who want to master your concepts, give us the opportunity to really get that aha moment of realization.

I would be most interested to know if you have calculated the Profit Factor for your live trades? I find it a very telling figure about the robustness of a stratey. Over 2.0 and you have a strategy that compounds like bunny rabbits!

Thanks for your generous offerings and I look forward to following your growth. I hope to start trading your strategy next week so will let you know how I fare.

Thanks

Hi m8, i think my win to loose ratio is a minimum at least 2.0 or higher.
But it will need to get more time under the belt before i can use that number.
Im still in the prossess of tweaking and fixing it, so i might get better results in the future.

With kind regards
Bashir Naimy

 

[bnaimy]

Bashir,
First, I would like to thank you for detailing your trading methodology and more importantly, the thought process behind this strategey. I have read all of the posts and been following this thread for quite some time. As I read your most recent system, however, I noticed major changes and a great simplification to the overall rules. That begs the question as to what was the impetus for change? If I could beg some more of your time, would you be so kind as to answer the following?

- If you were running a strictly manual system, which of your methodologies would you utilize if your main objective was to maximize your profits? I ask this because your last strategy differed so much from the previous ones that I thought it may have been implemented to assist with some of the individuals who had questions, eliminate the Wilder's average since some did not have this and make it easier to automate. If this newest method is truly the highest profit making of all then that is great.

- For the new method, your rules were not as detailed and I wanted to ensure I understood these rules. Are you still requiring price to be above the 10 ema for all charts on going long? Are you still saying that the charts are with you when the stochastics have crossed, or do they actually need to be headed in the direction your trade; ie, up for long and down for short?

- You have mentioned that you still utilize the ema or GMMA in your strategies. Have you changed this methodology at all? Is it strictly for timing your exits?

Thank you for your detailed explanations. I am truly grateful.

ez

Ez, i dont have much time today, so i will try to be quick

1: This newest method if done correctly i more profit giving then the automated one, because u can get more of the entire move and you can also get into it early.
But it does require alot of disipline, and thats the major problem, the automated one takes the emotions out of the equiation.

2:Yes, price needs to be above all the 10ema's on all the charts, unless there is a huge gap betwen the where u are going long/Short and and next resistance.
ANd yes, i only require the stochs to be crossed, they dont need to be hooked in the same direction.

3:I have made some changes to the GMMM and added a few other indicators, but the method is not 100% yett, still a work in progress.I dont want to get to much into how i do the automation, because im still struggling with it and dont know that much. And other reason is , if i lett everyone have it, i will be getting very bad fills, cause everybody will be going long at the same point.

Your welcome

With kind regards
Bashir Naimy

 

[chilltrader]

Ez, i dont have much time today, so i will try to be quick

1: This newest method if done correctly i more profit giving then the automated one, because u can get more of the entire move and you can also get into it early.
But it does require alot of disipline, and thats the major problem, the automated one takes the emotions out of the equiation.

2:Yes, price needs to be above all the 10ema's on all the charts, unless there is a huge gap betwen the where u are going long/Short and and next resistance.
ANd yes, i only require the stochs to be crossed, they dont need to be hooked in the same direction.

3:I have made some changes to the GMMM and added a few other indicators, but the method is not 100% yett, still a work in progress.I dont want to get to much into how i do the automation, because im still struggling with it and dont know that much. And other reason is , if i lett everyone have it, i will be getting very bad fills, cause everybody will be going long at the same point.

Your welcome

With kind regards
Bashir Naimy

"if i lett everyone have it, i will be getting very bad fills, cause everybody will be going long at the same point"

Hey! don't worry about that... its a huge market.. seriously.. for your trade to suffer the big boys need to jump in at your price... us small fry can't cause much damage.. even if there is a thousand of us )

 

[bnaimy]

"if i lett everyone have it, i will be getting very bad fills, cause everybody will be going long at the same point"

Hey! don't worry about that... its a huge market.. seriously.. for your trade to suffer the big boys need to jump in at your price... us small fry can't cause much damage.. even if there is a thousand of us )

I dont think you understand the dilemma here Chill m8.

Its not that there is not enough contracts to go around, problem is that the system will get absolut everybody at the SAME place, and the first available contracts are not endless, they are more like 30-40 at that spesific time(level2).

So if 100 people buy at that SAME spot, and everybody buys 2 each, thats 200 contracts, my fill be of be severel ticks of.And my system is very sensitive to getting the first +10, sometimes it hits +10 excatly, and then does a breakeven .If i get a slippage of 2-3 ticks and i dont get my +10 i loose 40ticks because of a stopout. So that is a big issue, even with 4 people in my private group that i am sharing this with, we do get diff fills because we are all in line for the first available contracts.

Its not that i dont want to trade, i would love to, but just cant .On the ES that is not a issue, but on the YM this is a issue.


With kind regards
Bashir Naimy

 

[newt24]

Out of curiosity, why is it an issue with YM bnaimy? is it something to do with how YM performs during the day or something?

 

[jimbo99x]

Out of curiosity, why is it an issue with YM bnaimy? is it something to do with how YM performs during the day or something?

The ES is a much thicker market than the YM, its about 10 times as big as the YM.

I think that the ES is the biggest futures market in the world.

 

[bnaimy]

Out of curiosity, why is it an issue with YM bnaimy? is it something to do with how YM performs during the day or something?

The issue is very simpe lets say the last price the YM was trade at was 8000, next available buyers are at 8001, but there will be a limited amount a contracts available there, and its not many on the YM. So if 200 contracts come rushing it and trying to get the first available contracts not everyone will be getting their contracts at 8001, some might get price that is of by 2-3 ticks. On the ES there is no issue,since there is huge voume and taking 100 es contracts at the marked will not affect it, but on the ym it will.

Thats the issue i am talking about.


With kind regards
Bashir Naimy

 

[santana55]

Bashir,

How do you interpret the stochastics on the new 89tick chart? Do you only buy off the 10ema when the 89tick is going up?

 

[chilltrader]

Nice day today guys!!

Couple of questions.

1. What is ES?

2. Have you heard of global futures? Looks like they do 300$ day margin for Mini-DOW.
Need to get a DMA account soon!

Cheers

 

[mgergs]

Hey guys i visited the chat room for a look and listen ... well done ...

What successes did people have this session ?
I got up at 6am here (Australia) to see the last 2 hours and it was all over the place ...

 

[santana55]

Hi Bashir,

Just a recap. You mentioned there are usually around 2 big moves per day on average (100ticks?) and these usually take place in morning for 1 (what time usually?) and around 3pm for the other?

The rest of the day for trades you take you should look to get out with around 30ticks profit after your +10 as opposed to holding for homeruns if outside of the morning big move or 3pm big move?

Just want to be sure I have this right.

Thanks

PS
do you pay $2.40 per side with Infinity? My commissions are ending up over $100/day with 40 sides traded.

 

[bnaimy]

Bashir,

How do you interpret the stochastics on the new 89tick chart? Do you only buy off the 10ema when the 89tick is going up?

You dont really need the stochastics on the 89tick, u only need the 10ema on it and thats it, if you heard me mention it, that was something i was thinking of adding to my autoprogram to finetune entryes.

So ditch the stoch on the 89tick chart, u dont need it. Its useless for manuall trading.
Sorry if you got missleaded.

With kind regards
Bashir Naimy

 

[Bapovs]

The issue is very simpe lets say the last price the YM was trade at was 8000, next available buyers are at 8001, but there will be a limited amount a contracts available there, and its not many on the YM. So if 200 contracts come rushing it and trying to get the first available contracts not everyone will be getting their contracts at 8001, some might get price that is of by 2-3 ticks. On the ES there is no issue,since there is huge voume and taking 100 es contracts at the marked will not affect it, but on the ym it will.

Thats the issue i am talking about.




With kind regards
Bashir Naimy

To add something to this story,

If you look at the depth o the YM you see something like this:




BID SIZE ASK SIZE
8718 12 8719 6
8717 9 8720 16
8716 10 8721 9
8715 5 8722 20
8714 24 8724 19



If EVERYONE (40 members already in the chatroom) has the same buy and sell signals that Bashir gets from his autotrading system, some of us get really bad fills. IE: 40 traders times 2 contracts is 80 contracts. We all would by the first 5 layers of the book.
So some of us are F***ED.
Indeed, in the ES (S&P500 future) the layers are thicker because the price is much lower (currently 891) then the YM.
The system is based on the moves that the YM makes and not on the ES.
The system COULD be used on the ES but he never tried, maybe you could do that and tell us if it worked or not...

Hope this is clear newt24.

Regards,

Sebastian

 

[bnaimy]

Nice day today guys!!

Couple of questions.

1. What is ES?

2. Have you heard of global futures? Looks like they do 300$ day margin for Mini-DOW.
Need to get a DMA account soon!

Cheers

THe ES is the S&P 500 index, thats the bigbrother of the YM .Both charts look identical, but the tics are worth alot more on the ES.

I have not heard of global futures, but the margin that is giving is never wise to use anyways, u will be getting to eager to risk to much.A rule is to not to use to much margine,u will risk to much.

With kind regards
Bashir Naimy

 

[bnaimy]

Hey guys i visited the chat room for a look and listen ... well done ...

What successes did people have this session ?
I got up at 6am here (Australia) to see the last 2 hours and it was all over the place ...

I think alof of people dide okey, i had a good day considering all the breakevens and had 1 stop.

But im not sure if people blindly follow my buys and shorts , as i got in pretty quick, and usualy get +10, so im usualy with no risk pretty fast. Not sure how people did. I think most dide ok.


But if everybody followed the rules, they should be up nicly.

With kind regards
Bashir Naimy

ps: we will not be taking trade from 11:30 to 01:10, as that is lunch and sideways chopp.
Its up to each trader if he wants to or not, idont recommend it.

 

[laserwolf]

Now thats the most weirdest reply u got from them, they do support it and trading from charts is not slow to begin with , and they being held responsible is just bs, cause u allready agree to a 100000 page disclaimer that says they cant be held responsible.

Dide you turn of your simulator before you tryed to trade it that way?
You also need to check the "send orders to the ordersystem" in your workbook as well.

Ifind this very misteriouse!

With kind regards
Bashir Naimy

Hi Bashir

They definitely do not support Sierra trading by default. I had 2 separate people from Infinity say this, as well as the 1 person from Sierra. After some complaining (and I insisted i know people who use it), Infinity agreed to let me.

 

[bnaimy]

Hi Bashir,

Just a recap. You mentioned there are usually around 2 big moves per day on average (100ticks?) and these usually take place in morning for 1 (what time usually?) and around 3pm for the other?

The rest of the day for trades you take you should look to get out with around 30ticks profit after your +10 as opposed to holding for homeruns if outside of the morning big move or 3pm big move?

Just want to be sure I have this right.

Thanks

PS
do you pay $2.40 per side with Infinity? My commissions are ending up over $100/day with 40 sides traded.

Yes, there are usualy 2 good big movers pr day, 1 in the morning session and 1 at the end. But when the big trade is over, there are some small movers, but my autotrader is not good on those and takes breakevens, i have dont a few changes to it .

I take first target at +10, move stop from -20 to -8,when marked is 30ticks in myfavor i change it from -8 to rigth at where i bought it, so i locked in +10 ticks.

So i suggest you do the same, incase you want to go for homeruns, but usualy after a big move there is little chance of another big move, so i suggest you go for homerun on the first trade in the morning and last trading hours and rest you take +10 +30.
U will find that this will give you more cash in the pockets in the end.

But i am still in the testing stage, so i cant do that, i need to stick to the rules of the program, when i start with 4 contracts i will sell 2 at +10 and 1 at +30 and trail last.
So eachtime my second target is hit(and +30 gets hit alot) i end with +40 for each "breakeven" instead of nothing


So thats what i suggest you do, just go for 2 homeruns and rest u go for +10 +30 and u will do great.

With kind regards
Bashir Naimy

 

[bnaimy]

Hi Bashir

They definitely do not support Sierra trading by default. I had 2 separate people from Infinity say this, as well as the 1 person from Sierra. After some complaining (and I insisted i know people who use it), Infinity agreed to let me.

Hmm , i dident need to argue with anyone to get that done, i just started it and it worked. Anyways, im glad it works for you.

With kind regards
Bashir Naimy

 

[bnaimy]

To add something to this story,

If you look at the depth o the YM you see something like this:




BID SIZE ASK SIZE
8718 12 8719 6
8717 9 8720 16
8716 10 8721 9
8715 5 8722 20
8714 24 8724 19



If EVERYONE (40 members already in the chatroom) has the same buy and sell signals that Bashir gets from his autotrading system, some of us get really bad fills. IE: 40 traders times 2 contracts is 80 contracts. We all would by the first 5 layers of the book.
So some of us are F***ED.
Indeed, in the ES (S&P500 future) the layers are thicker because the price is much lower (currently 891) then the YM.
The system is based on the moves that the YM makes and not on the ES.
The system COULD be used on the ES but he never tried, maybe you could do that and tell us if it worked or not...

Hope this is clear newt24.

Regards,

Sebastian

Thanks for exlpaining it more clearer

With kind regards
Bashir Naimy

 

[santana55]

Hi Bashir,

As most of us are starting out with modestly sized accounts ($10K or less) I was wondering if you had some money management advice with regard to this system.

It is a high probability system but on choppy days like today you can be exposed to a few stop out trades which add up quickly at 40 ticks each (stopped out 3 times today -$600). With a 2% risk strategy employed that means with a $10K account you must stop trading for the day if stopped out once.

For small accounts halting your trading after 1 stop out might preserve your account's lifespan but at the same time it will take you quite a while to build your account or to get anywhere.

Is there a more conservative method to trade this system until you can more easily withstand 2 contracts per trade with 20 tick stops? I know you could do 1 contract but you don't take advantage of the +10 feature this way.

Had a great day Tuesday but gave it all back plus a little more today.

Thanks