Hours and Days

madasafish

Well-known member
470 5
Rule 1. In a trending day onlt trade in trend direction
BIG triangles Blue/Gold say Buy/Sell
Only Buy/sell if next candle is in same direction as signal.. ie.. if sell down, if Buy up.. prevents false signals been taken.

Signal is based on:
(FASTD>SLOWD and MACD>MACD.1)+(FASTD<SLOWD and MACD<MACD.1)*-1

MACD exp 8,20,5
Stochastic exp 9,9,9
Buy when Indicator above turns from -ve to +ve
and vice versa.

3 min chharts
see attached...
 

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BeM

Active member
113 1
Madasafish,
How much do you pay to have this software, and where from, to trade eventually S&P 500 futures? Would you make it clear to me, what's E-Mini, embaressing question but better than not knowing forever? :D
Thanks! ;)
 

madasafish

Well-known member
470 5
Details incl pricing are all here:
http://www.linnsoft.com/index.html

I use Mytrack Silver plan for data..

E Mini S&P is the Mini S&P 500 futures contract $50 per point..

(the maxi contract is - I think but don't hold me to it - $250 per point!)

You can spread bet the indices if you want.. I reckon City Index are best due to the streaming quotes and lack of bias.. but Fins give you a lower minimum.

Sierra and Mytrack is a very good and cheaper alternative.

I cannot recommend futures trading to the inexperienced. At $50 per point and a spread incl cost of around 0.5 points and a fast moving market, you can lose (or make) lotsamoney very quickly.
 

sifts2win

Member
59 0
Madasafish,

just a quick reply then ? Thanks very much for your detailed answer and for sharing your trading method with us all. Do I assume correctly that you have programmed your software to give you blue or gold triangles when your indicators trigger accordingly ?
I am still sbetting after 5 years which is why I'm still able to trade. When the day finally dawns that I can consistently get an advantage in the market will I start trading the 'E' mini contract.etc.
Until then I'm playing with very small bets until I can build up a trading account and have a method in place.
As a general rule of thumb what sort of costs should I budget for to use say Sierra/Mytrack real time and still sb with Fin Spreads. To keep costs to a minimum and get max leverage I trade Dow Dec futures using Futuresource only. Looks like I will need a real time package to trade seriously !
Can any of you seriously professional girls and guys suggest a better way ?
Thanks again, :)
 

BeM

Active member
113 1
shifts2win
Five years... God, you're a ptient one. That's better tahn doing like I did losind 3 times more than what I had made, but I will do like you from now one, I will bet 50p on S&P 500 at FinSpreads, the bastards had disabled me to trade less than £1, can you believe that? Because they said I had higher credit...something, maybe because of my bank statement, they are probably thinking I'm going to lose, then put more money, lose and put more money, lose and put more money until they obtain all my money as the spread. It's fine, I will call them to change it so I could trade in pence, I may crash if I lose another lot like that.
By the way, I paid for a real-time, less professional for you and me, chart and quote from finance.lycos.com which seems to be fine, about $20 per month, that's not a lot, but it's good, you could try it as well. Other stuff and packages that are more professional are much more expensive, they amount to about $100 to $150 per month, if not even more, I don't think we need to pay that much yet, we could maybe use somthing less sophisticated for now, just a personal idea, I may be wrong.
Have a nice time, or maybe week-end!
 

madasafish

Well-known member
470 5
Yes. I program things to give auto signals. Still a human judgement of course because after all indicators are not evrything.. S&R and trends.. etc...

For costs go to Sierra website and Mytrack.. It's all there but you can add/subtract what you want..
 

sifts2win

Member
59 0
Madasafish,
had another look, what is the light blue line ? And how do you know a trending day won't become a ranging day ? Sorry to bombard you with all these questions. Is this just part of your armoury and I guess experience tells you what is happening faster and faster as you trade more and more.
Thanks again.
 

sifts2win

Member
59 0
BeM,
Speak to Dan Benton at FS or Victor. They have been real support and I find v. honest if you're straight with them. Will look at Lycos, thanks. Is it real time ?
5 years in the market but perhaps 3 sbing. My success rate could be better if I took profits instead of letting them evaporate or not letting them run. Trouble is if I leave trade to run it falls apart and if I take profit I miss the big one. I strive to find the method to maximise returns all the time and have nearly turned the corner. I agree with all the words of wisdom on this site. Its your head that will make you a great or a rubbish trader. There are so many traps and fakes and the market changes all the time so you need to survive first, make a profit next and go large later. One day Rodney, one day !!
 

Helenqu

Established member
841 3
Hi Mike,

If you read this it might ring a few bells with you.

http://boards.fool.co.uk/Message.asp?mid=7313017


About a week after this I decided to make the move into futures which was exactly the right thing for me. If you are a short term trader by nature (I ilke to be in trades 5-6 mins max) then you will be much better off in futures than spreadbetting and you don't need lots of money to do it. I trade Eurostoxx with IB and I have just over £5K in my account. I trade 2 hours a day and I'm up 5% in about 5 weeks.

SBs I think are still great value for UK FTSE100 stocks and I will continue to use them for swingtrading. I leant a lot about trading from using SBs last year and it was undoubtedly a cheap way to learn. But I don't think, unless you have a longer term strategy and deep pockets it's a very viable vehicle. IMVHO, FWIW.
 

sifts2win

Member
59 0
Hi Helen,
have saved link for look later. Interesting that you can trade with only 5k. Am still worried real futures will kill me. Need to improve trading style first. I think I am always trying to find the start of the big daily trend change at the very start of it in the 5/15 min charts and then hold on for one huge hit. Probably overambitious and almost impossible I guess. I agree sb only useful for smaller trades and become uneconomic compared to futures when larger sums involved. Just can't get good enough. Success rate still only 30 % but only down £450 this year. Saved by a couple of big wins on Dow and really tight stops.
Thanks again.
 

Helenqu

Established member
841 3
Hi Mike,

It may just be you have the wrong style for you. Look at what you are comfortable with. I am very risk averse and hate being in losing trades. My very short term style means I'm in them for a couple of minutes maximum, ideal for me.

Over what time frame/risk level are you most comfortable?
 

sifts2win

Member
59 0
Hi Helen,
Am also very risk averse but am looking to trade off fib levels or support /resist and/or patterns that look like they offer at least 2:1 risk/reward. I often pass trades if my exposure becomes more than 2% of capital, blah, blah, so I just hold on trying to at least reach a first target. Ideally I like the sound of swing trading but am confused about buy and sell signals and which time frame. Should I stick to the time frame I start in as I tend to pan out and see where the levels could take me in higher time frames when I've opened a position.
Does everybody just trade say 3 min charts and take every buy and sell as indicators trigger in that time frame ? My best results have been in 15 min charts.
My study of 15 min bollinger bands around the 30 and 90 min mark into the session do look promising though. It's a matter of finding a less risky way to enter the trade though instead of just hoping I catch the reversal.
I think I need to focus on one thing and just trade it. Maybe I'm also just too frightened to take a quick profit and re- enter later in case I give it straight back ?
Cheers for now.
 

Helenqu

Established member
841 3
Hi Mike,

My approach when I moved to futures was to look at the risk I was prepared to take on each trade and then work out the system and business plan from those. I wasn't as organised with my SBs, maybe that is part of the debate :)

If you want to look at my business plan and trading protocol just to see how I approached it (I'm not saying it's a right way, just one way) they are on the TBS site and also in my journal on here.

HTH
 
 
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