Day trading the emini russell

[sjrider2397]

I am hopeing to share and toss around some winning strategies for trading the emini russell. I have been trading it for over a year now profitably. I have developed my strategy based on combinig what I felt were good ideas from other traders. It has not been easy to do..but it is definetly worth it.
I hesitate in starting this thread, there are plenty of people hear that seem to bash everything that you say. I hope that does not happen hear.
I hope that others will share there strategies so that we can all learn to be better traders. I know first hand how you get "tunnel vission" while you are trading. I would like to improve my strategy...and possibly help out some new traders along the way.



I trade on the 1 minute chart and the 175 volume bar chart...latley I prefer the 1 minute. I have two ema's a 50 and a 21. I prefer to trade the direction they are trending. I use a macd, settings are 4,5,13. I turn the histogram off...I do not use it.
I have a few setups that I look for.
my main setup: I wait for the price to breakout and start trending. I then let it pullback and I enter long on a reversal bar. I go for 2 points (200.00) if you trade with one lot. I set my stop to the bottom of the reversal bar. I then trail my stop under each consecutive bar.

 

[rathcoole_exile]

there are plenty of people hear that seem to bash everything that you say.
I use a macd, settings are 4,5,13. I turn the histogram off...I do not use it.

mate, your plan, trading off a pull-back during a breakout, is valid enough, plenty of other people doing that successfully.
But what I can't understand from your chart is the relevance of the MACD ? It seems to me that you could have taken the same trades without the MACD on your chart ?
I'm not having a bash, I'd just like to understand ?

cheers, r_e

 

[sjrider2397]

sometimes I do not get the reversal bar that I am looking for. I will still enter the trade on a descent upthrust if the macd line is below zero and hooks back up.. but maybe I do not need it. I have not taken some trades because of where the macd was..some worked out great others I am glad I did not enter

 

[sjrider2397]

But what I can't understand from your chart is the relevance of the MACD ? It seems to me that you could have taken the same trades without the MACD on your chart ?
I'm not having a bash, I'd just like to understand ?

cheers, r_e[/QUOTE]


I started reading back through my trading journal...it seems like lately the macd has been hurting me more then helping. Thanks for the question..apparently I do have "tunnel vision" I used to use it for divergence, but I decided that is not good for me..I am naturally countertrend, I do not need any more reasons to be so. It takes all I have to not take those counter trend trades. I know some people are very good at them...i have learned not to step out in front of a freight train. I will take it off of my charts and see how it goes. Now if I only had the nerve to get rid of those ema's!!

 

[rathcoole_exile]

BNow if I only had the nerve to get rid of those ema's!!

it will happen one day .....

 

[Blu Bull]

Thank you very much for sharing you strategy.

Just 2 questions, one the reversal bars.

Since it's intra day you don't care about the the hi and lo of the bars. Just where the open starts compared to the close?

Also, trail stop after is just on each next close, or High/Lo. I'm using something like this.

The 9/30 trading method
9/30 Setup

Again thank you very much for sharing you strategy

 

[sjrider2397]

Thank you very much for sharing you strategy.

Just 2 questions, one the reversal bars.

Since it's intra day you don't care about the the hi and lo of the bars. Just where the open starts compared to the close?

Also, trail stop after is just on each next close, or High/Lo.



If I am going to go long the "reversal bar" must trade lower then the previous bar but close up and preferably in the upper third of its body

I trail the stop up placing it at the low of the non active bar

it works well for me..when I trade more then one contract I will take the first target at 2 points I will continue to trail the bars on the second until stop is reached..lately that has paid off extremly well..especialy in the big swings that we have been having


now why can't I always follow my trading plan? I should have made alot more today then I did!!