Here is the way i daytrade the Emini-YM

[audrius]

Even while using this system, learn to trade price. You will never have this problem.

Ektrader

What do you mean to trade price?

 

[jokepie]

I totally agree with Ektrader, i've been doing this for the last couple of weeks and must say it keeps you out of the trades you shouldn't take, even if all signals are ''green''.

Sebastian
Let me know when you ARE online on skype or paltalk ?
c ya

 

[ektrader]

What do you mean to trade price?

There's a lot of threads here about trading price and I don't need to start another one, just search the message board.

Ektrader

 

[vit007]

Hi all. Just want to share with all of you guys my experience with Bashir method . I was following this method from October 2008, trading live. Im experienced option trader ,but day trading was completely new to me. So I was exited to use this method and managed to lose my account twice, mostly for getting to emotional during live trading (that what you never experience if you only sim. Trade). After analyzing my trades I came to conclusion that to make it work I have to automate this system and add to it my own believes about market that would suit my personality . I never had any past experience in Excel programming ,so it took me a vile . I was using Bashir past ROOM excel based automated programs (which never actually work), but general idea was fine. So I modified old ROOM program and guess what miracle happened it all working . Its not 100% independent system I still need to supervise it ,because it excel based it not always does what is program to do ,but from lust 30 trading days I got 22 wining days.
So system (original one ) is fine but to make it work you have to modified it to suite yours personality .
But before you try to automate any system you have to trade it well manually and trade it live. To me to be a day trader and steer at computer all day is the most boring and not satisfying job that can be even if you make $$$$. Ones I got a flue and stay home for a week , so to make use of my free time I day trade and it felt like I wasting my life for some thing not important at all. That’s was another reason I automated this system , now I look at my laptop only when I have sound alert that trade was taken to make sure it goes ok.and if it’s a loosing one I know that loss will be small and 3 more good trades will come soon.
Some of you complain that when all indicators line up the move is over and most of the time its true . To avid this I use ADX indicator on 89 tk . chart, and take trade only when it over 30. It tells you that momentum is strong and even if you late with your trade you will get you first target. So if you trade manually you can set sound alert on your Sierra chart, this way you don’t have to look at your comp. all day. Also I fined being in chat room distracts you from your own trading plan, just mine past experience
There is some other things I did add to Bashir system like use of 5 EMA for exiting …..
But it all should depend on your personality. Bottom line you can make this system work and never give up.It took me almost 5 month to make it work .
Thanks a lot to Bashir and other folks who were active here.
Vit

 

[seankelly63]

Outstanding!

Bashir

I love it. Do I have your permission to put this post on my website? My readers woud love it.

Sean Kelly

Hi guys and girls, since i know how difficult it was for me to start daytrading for a living and make a good living out of it i though i should share my system with the rest of you guys and hopefully some of you new fellow daytraders could use this for your advantage.

First i must stress that if u dont have dicipline and dont follow a strict plan you will not
be able to use this system or anyother system for that matter. Daytrading is 90% in your head and rest is having a simple and robust system that you are comfortable with.

Other thing is that you need sound moneymanegmant otherwise you could easly blow you account and it will be a emotionel rollercoster that will make u chass and revenge trade and fogg up you jugdment .

SO here is goes, what i use is 4 charts with different timeframes:

1: 144tick chart with a 89exponential moving average and a 15exponential moving
average and slow stochastics and macd.

2:3min chart with 20exponential moving avererage and slow stochastics

3:10min chart with 20exponential moving average with slow stochastics

4:30Min chart with 20exponential moving average with slow stochastics


I find this to be a pretty simple and easy to understand plan, i belive that making things to complicated just confusses you and you will eventually just get tired and not pay attention and u will do something stupid and loss ur money.

Before i start trading i look at my 10 min and 30min charts to see if there are any strong up or downtrends so i dont start with going against any strongs trends.

Rules are as follow if i wanna go long:
Look at 30min slow stochastics and see if its pusing up or down.
Look at 10min slow stochastic and see if its pusing up or down
Then look at my 3min slow stochastics and see if its pusing up or long, if its pushing down i will wait for it to cycle and go up, i always want for a minimum have 10min and 3min stochs on my side, if not i will not take the trade, now that 10min and 3min stoch is on myside and pushing up i then look at my 1min chart and see if the stoch is on my side, if not i wait for it to turn around and then wait for the macd to comfirm and i go long. But another thing is that the price needs to cross the 89exponential ma on the 1min chart, if it dont go above i will not go long. You can also go long or short using this methode without waiting for the price to cross the 89expon ma, but then u will not have a good place to set a stop in my opinion, i ususaly have stops around 20-27 ticks tops,and when price crosses the 89expon i put my stop right under the 15expon on the 1min chart, that always follows the price closly, i also use it to trail if the trade is pushing higher. The other thing i also look for is, the following , i dont want any of the 20expon moving averageson the 3min and 10min and 30min to be to close to my entry,what i mean is if i enter a trade at 10300 and i see that the 20expon on the 3min is 10 ticks above i will not take the trade, i might consider putting the buy stop right above that insteda, i always prefer to have zero or little support above where i wanna go long or oposite of i was short.


I always trade 3 contracts and have 3 profit targets that i have programed in my infinity platform. I take first profit at +10 and second at +15 and last +25.When second target is hit i always take my stop and move it closer to closest support area and keep moving it up as support follows price.I know some mightsay that +10+15+25 is to little profit but this is working well for me, and buy going out in 3 stages u also lower ur risk, the longer u are in a trade the more risk there is.

For each 5000 in your account u can trade 1 contract, thats my recommendation, if u want to do it lower risk u can try 1 contrackt per 10000 in your account, it all depends how much u want to take, never risk more then 2% of your account in each trade, otherwise ur losses will get you emotionel and u will start making mistakes.

I usualy do around 4-5 trades like these and end up with around 150+- to 350+- all depenidng on if i only get 2 targets and scracth the last, i hardly get stopped and those times i do get stopped is cause i dont pay attention to my rules and entrer to early or to late.Been using this systemfor around 4 months and havent had a loosing day so far and still going strong.Just increasing my contrakt size as my account grow and use the same method with just more cars.And i would thing that most would look at this as a scalp method and i agree i guess.

I have also included a picture of my screen setup and hopefully it will make things clearer, i am not that good at explaining things so if there is something unclear will try
to explain better, please come with comments good or bad.Constructive comments are appritated.




With kind regards
Bashir Naimy
Norway

 

[vit007]

After 30 trading days I paid over 1200 $$ in commissions’ and exchange fees . Its take big chunk out of my profit . Since I use automated system I assume it take mostly “ASK’ price so I have to pay commissions and BID –ASK spread . Does it make more sense to use CFD like CMC market or others were you pay only spread and save on commissions.
Guys if you use CFD for futures trading can you share your experience with us .
Thanks in advance .
Vit.

 

[jer0mee]

Hi Bashir,

Would you be so kind to post the instructions for the new method that your sent out. The previous method was easier to use but the one where you actually have to look for support and resistance on your own is quite difficult. Thanks in advance.

 

[vit007]

For people who have doubt in the system I want to post today results . Trades from my automated system.

2009-03-17 10:26:15 NQM9: Quantity 2, New Buy Market Order
2009-03-17 10:26:48 NQM9: Quantity 2, New Buy Market Order
2009-03-17 10:27:00 NQM9: Quantity 2, New Sell Market Order
2009-03-17 10:31:30 NQM9: Quantity 2, New Sell Market Order
2009-03-17 10:32:00 NQM9: Quantity 2, New Buy Market Order
2009-03-17 10:45:14 NQM9: Quantity 2, New Buy Market Order
2009-03-17 10:45:26 NQM9: Quantity 1, New Sell Market Order
2009-03-17 10:45:34 NQM9: Quantity 1, New Sell Market Order
2009-03-17 10:50:36 NQM9: Quantity 2, New Sell Market Order
2009-03-17 10:50:45 NQM9: Quantity 2, New Buy Market Order
2009-03-17 11:14:56 NQM9: Quantity 2, New Buy Market Order
2009-03-17 11:15:01 NQM9: Quantity 1, New Sell Market Order
2009-03-17 11:15:03 NQM9: Quantity 1, New Sell Market Order
2009-03-17 11:15:05 NQM9: Quantity 2, New Buy Market Order
2009-03-17 11:15:11 NQM9: Quantity 1, New Sell Market Order
2009-03-17 11:15:32 NQM9: Quantity 1, New Sell Market Order
2009-03-17 14:30:19 NQM9: Quantity 2, New Sell Market Order
2009-03-17 14:37:54 NQM9: Quantity 2, New Buy Market Order
2009-03-17 14:45:11 NQM9: Quantity 2, New Buy Market Order
2009-03-17 14:52:51 NQM9: Quantity 1, New Sell Market Order
2009-03-17 15:05:02 NQM9: Quantity 1, New Sell Market Order
2009-03-17 15:08:19 NQM9: Quantity 2, New Buy Market Order
2009-03-17 15:08:51 NQM9: Quantity 1, New Sell Market Order
2009-03-17 15:10:49 NQM9: Quantity 1, New Sell Market Order

P/L(cumulative) +10.25 Win Trades 7 Lose Trades 2
Total +200 $$ minus comm..

Vit

 

[Niove]

38 contacts * $2 = $76 in commissions. Any slippage assumptions? This is the next thing I am set to test on live but you should count $5 for every tick of slippage per contract, per side... assuming 1 tick slippage per contract, per side that adds up to $190, assuming 1 tick per contract one side only it adds up to $80. Anyone has any slippage stats from live trading?

 

[jimbo99x]

Hi Vit

What method are you trading I have been away for a while and have lost track. I started following back in November last year.

jimbo99x

For people who have doubt in the system I want to post today results . Trades from my automated system.

2009-03-17 10:26:15 NQM9: Quantity 2, New Buy Market Order
2009-03-17 10:26:48 NQM9: Quantity 2, New Buy Market Order
2009-03-17 10:27:00 NQM9: Quantity 2, New Sell Market Order
2009-03-17 10:31:30 NQM9: Quantity 2, New Sell Market Order
2009-03-17 10:32:00 NQM9: Quantity 2, New Buy Market Order
2009-03-17 10:45:14 NQM9: Quantity 2, New Buy Market Order
2009-03-17 10:45:26 NQM9: Quantity 1, New Sell Market Order
2009-03-17 10:45:34 NQM9: Quantity 1, New Sell Market Order
2009-03-17 10:50:36 NQM9: Quantity 2, New Sell Market Order
2009-03-17 10:50:45 NQM9: Quantity 2, New Buy Market Order
2009-03-17 11:14:56 NQM9: Quantity 2, New Buy Market Order
2009-03-17 11:15:01 NQM9: Quantity 1, New Sell Market Order
2009-03-17 11:15:03 NQM9: Quantity 1, New Sell Market Order
2009-03-17 11:15:05 NQM9: Quantity 2, New Buy Market Order
2009-03-17 11:15:11 NQM9: Quantity 1, New Sell Market Order
2009-03-17 11:15:32 NQM9: Quantity 1, New Sell Market Order
2009-03-17 14:30:19 NQM9: Quantity 2, New Sell Market Order
2009-03-17 14:37:54 NQM9: Quantity 2, New Buy Market Order
2009-03-17 14:45:11 NQM9: Quantity 2, New Buy Market Order
2009-03-17 14:52:51 NQM9: Quantity 1, New Sell Market Order
2009-03-17 15:05:02 NQM9: Quantity 1, New Sell Market Order
2009-03-17 15:08:19 NQM9: Quantity 2, New Buy Market Order
2009-03-17 15:08:51 NQM9: Quantity 1, New Sell Market Order
2009-03-17 15:10:49 NQM9: Quantity 1, New Sell Market Order

P/L(cumulative) +10.25 Win Trades 7 Lose Trades 2
Total +200 $$ minus comm..

Vit

 

[vit007]

Hi Vit

What method are you trading I have been away for a while and have lost track. I started following back in November last year.

jimbo99x

I use 10m ,3m,144tk,89tk.charts. from original method,( ROOM charts).
If you was on Bashir mail list you shoul have ROOM charts. I used his excel program as example to build my own.
Vit.

 

[mono74]

I use 10m ,3m,144tk,89tk.charts. from original method,( ROOM charts).
If you was on Bashir mail list you shoul have ROOM charts. I used his excel program as example to build my own.
Vit.

Hi Vit

Sounds good

How did you put the file into excel?

Thanks for sharing

Adrian

 

[Niove]

Right.. so I finally found the will to code and test this. Bottom line is that with reasonable commission and slippage assumptions in the long run you end up either breaking even (YM, NQ) or losing some $$$ (ES, YG, E7).

Having said that, its a good algorithm for people who want to learn how to trade using multiple timeframes or want to develop their strategy coding skills.

 

[mr.lightman]

see lots of Canadians here. someday we could gather somewhere to cheer the success.

 

[bnaimy]

Bashir

I love it. Do I have your permission to put this post on my website? My readers woud love it.

Sean Kelly

Yes you can, i just got back from my vacation , hence the zero activaty

Ill try to reply everyone later in the evening.

With kind regards
Bashir N

 

[audrius]

Hi all. Just want to share with all of you guys my experience with Bashir method . I was following this method from October 2008, trading live. Im experienced option trader ,but day trading was completely new to me. So I was exited to use this method and managed to lose my account twice, mostly for getting to emotional during live trading (that what you never experience if you only sim. Trade). After analyzing my trades I came to conclusion that to make it work I have to automate this system and add to it my own believes about market that would suit my personality . I never had any past experience in Excel programming ,so it took me a vile . I was using Bashir past ROOM excel based automated programs (which never actually work), but general idea was fine. So I modified old ROOM program and guess what miracle happened it all working . Its not 100% independent system I still need to supervise it ,because it excel based it not always does what is program to do ,but from lust 30 trading days I got 22 wining days.
So system (original one ) is fine but to make it work you have to modified it to suite yours personality .
But before you try to automate any system you have to trade it well manually and trade it live. To me to be a day trader and steer at computer all day is the most boring and not satisfying job that can be even if you make $$$$. Ones I got a flue and stay home for a week , so to make use of my free time I day trade and it felt like I wasting my life for some thing not important at all. That’s was another reason I automated this system , now I look at my laptop only when I have sound alert that trade was taken to make sure it goes ok.and if it’s a loosing one I know that loss will be small and 3 more good trades will come soon.
Some of you complain that when all indicators line up the move is over and most of the time its true . To avid this I use ADX indicator on 89 tk . chart, and take trade only when it over 30. It tells you that momentum is strong and even if you late with your trade you will get you first target. So if you trade manually you can set sound alert on your Sierra chart, this way you don’t have to look at your comp. all day. Also I fined being in chat room distracts you from your own trading plan, just mine past experience
There is some other things I did add to Bashir system like use of 5 EMA for exiting …..
But it all should depend on your personality. Bottom line you can make this system work and never give up.It took me almost 5 month to make it work .
Thanks a lot to Bashir and other folks who were active here.
Vit

Hi Vit
Thanks for sharing your experiance with us and I am glad that you doing fine with the system.I am doing my best to make it working for me too.I have a question for you;
If I understand you correctly ,you say that you take the trades only if ADX is above 30 .So if it's below 30 then you would't take any trade even all the rules is in green .Is it right?

 

[zt3k]

my contribution to the thread:
EasyLanguage code of the Bashir Naimy method.

note:
this is not an autotrade strategy.
turn on the alert. you will get the signal through alert notice.

users beware:
1. this is a beta. i.e. it needs fine tuning
2. this is written in MultiCharts. it has not been tested in TS.

instruction:
set up 3 data series in the chart:
1. tick as data1
2. fast minute (or tick) as your data2
3. slow minute (or tick) as your data3

good luck!

.

 

[Niove]

oo.. how do you set up tick and time series on the same chart in TS? =)

 

[Niove]

also.. when u make a strategy out of it and run it I want to compare results with mine

 

[pboyles]

oo.. how do you set up tick and time series on the same chart in TS? =)

tl_new_s wont verify in TS, word not recognised by EL, tl_new is in the easylanguage library, any ideas of how to convert this to work in TS?