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Plan the Trade

  • #9,241
  • Nov 16, 2018 5:04pm Nov 16, 2018 5:04pm
Just wanted to take a moment to thank all of the nut cases in this thread. I am going back over my trades from the week and because people are willing to share their insight and experience I have been able to refine my trading a little more. Because I use moving averages in my trades, sometimes I have to wait for them to align before jumping in. Now I can see many more opportunities to take trades I would normally ignore. Can't really say it is counter trend trading because the new trend has to start somewhere, doesn't it? I promise after the Thanksgiving holidays that I will post all of the details as to how I trade. I want to give it a week or two to be sure I have all the rules nailed down before sharing. There may even be video involved. LOL!

I spent the afternoon and part of this evening refining and simplifying my trading. I now have it to the point that even Ray Charles could see it.

Hope everyone has a great weekend. Later.
  • #9,242
  • Nov 16, 2018 5:11pm Nov 16, 2018 5:11pm
If your trading low time frames like me there are lots of opportunities you may even remove the mas
  • #9,243
  • Nov 16, 2018 5:19pm Nov 16, 2018 5:19pm
Quoting Divergence
If your trading low time frames like me there are lots of opportunities you may even remove the mas
Yeah, someday I will take the training wheels off. LOL! I still like them because it helps me see that a pull back is big enough to mean something. They also help me to see potential reversal areas and when combined with the 1-2-3 it is lethal.

BTW, that 30 second chart is insane. Never considered sub 1 minute charts. It was always tick based or 1 and 5 minute based. The 30 second shows enough detail without getting too short that it is hard to work with.
  • #9,244
  • Nov 16, 2018 5:24pm Nov 16, 2018 5:24pm
I was trading 133 tick charts now that's fast till June where I had a flat month and tweaked it to 30 second plenty of time to make decisions. If you look for s and d you'll find you won't need the ma's to measure if a pullback is legit
  • #9,245
  • Nov 16, 2018 5:57pm Nov 16, 2018 5:57pm
Quoting magnumfreak
{quote} Yeah, someday I will take the training wheels off. LOL! I still like them because it helps me see that a pull back is big enough to mean something. They also help me to see potential reversal areas and when combined with the 1-2-3 it is lethal. BTW, that 30 second chart is insane. Never considered sub 1 minute charts. It was always tick based or 1 and 5 minute based. The 30 second shows enough detail without getting too short that it is hard to work with.
Thanks magnum for considering to share your strategy. Markets are fractal in nature (as you know) so I do t understand why folks say to stick with one timeframe. A generic setup like MAs or HHHL or SD must work on all timeframes as long as the scale is big enough to recover trading costs. What works for you in M1 should also work in M30 or S30. This is all good with those who believe in "Price is everything". I don't belong in this camp because price cannot move because of price itself no matter what anyone says. There has to be something else as part of the equation that moves price. In our case, volume or order flow so I ask... does anyone know if volume is also fractal in nature? I would think so but I have no idea. So far, all my analysis is telling me there is no leading g indicator in volumes but I am such a noob in this space so I could be very wrong here. I traded 5 second charts with MA today and all I really needed was direction and force to move the needle in my direction. SD thrust candles we're all over the place on 5 second charts in and around Everytime MA was changing it's color giving early warnings of a apparent cross or break away from a cross.

With that said, I would be really annoyed if what worked today will not work tomorrow for me. What has consistently worked for me is always using only buy and sell stop orders and not limit orders. I just don't know how Harold does it. It literally gives me an anxiety to watch price come to me to take a counteridirectional trade. I want tail wind behind me to lift me up and run with it.. I know I am agreesive and risk taker and it grows extremely exponentially when my trades are being 'lifted' by price and I also know that a reversal within a few ticks will cause some momentary exposure (long at tops and shorts at bottoms) but fifo offers a terrific opportunity to automatically reverse our trades with TP . I won't share this style as it is mother of all dangers for anyone to try this out plus I need to gather long evidence if this style is even legit. I did not get any slippage and spreads we're reallreally tight throughout so definitely this market is for momentum players. I started my session with over $200 in red today thinking I was taking trades in sim to get mentally align with market prior to nyse open. That was quite the emothion to get over when I was try to reset my simulation trade data in a live account.

For those who use Sierra, there is a way to automatically run two or more instances of Sierra at startup. Use one only for live and use the other only for Sim. I wish this platform had better controls to prevent this mistake.
Staying in my lane...
  • #9,246
  • Nov 16, 2018 8:08pm Nov 16, 2018 8:08pm
Quoting magnumfreak
Just wanted to take a moment to thank all of the nut cases in this thread. I am going back over my trades from the week and because people are willing to share their insight and experience I have been able to refine my trading a little more. Because I use moving averages in my trades, sometimes I have to wait for them to align before jumping in. Now I can see many more opportunities to take trades I would normally ignore. Can't really say it is counter trend trading because the new trend has to start somewhere, doesn't...
Very nice.
  • #9,247
  • Nov 17, 2018 1:39am Nov 17, 2018 1:39am
Wow! There was some seriously heavy hitting going on yesterday, i see. No 'Black Friday's' here, more 'Green', me thinks!

I have never known anything both so inspirational and yet frustrating combined!

I am chomping at the bit to join in the fun, but it's this kind of desire that probably caused me the health problems that i am facing at present. Patience again is key, i think.

Great to see what is possible with a set of balls though, mine disappeared some while ago, i think. Probably the real reason why i haven't broken into caning it 'Live' yet. I have become so risk averse, over the years, it's frustrating for sure.

It's true that Futures contracts on something so fast moving really sorts the men out from the boys.

Have a great weekend all.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #9,248
  • Nov 17, 2018 10:39am Nov 17, 2018 10:39am
Quoting The Cableguy
Wow! There was some seriously heavy hitting going on yesterday, i see. No 'Black Friday's' here, more 'Green', me thinks! I have never known anything both so inspirational and yet frustrating combined! I am chomping at the bit to join in the fun, but it's this kind of desire that probably caused me the health problems that i am facing at present. Patience again is key, i think. Great to see what is possible with a set of balls though, mine disappeared some while ago, i think. Probably the real reason why i haven't broken into caning it 'Live' yet....
Collectively, we become "Professional Grade". A personal thanks to everyone here who made my transition over to Futures a little less painful and frustrating. Your advice was priceless and I will always remember to good people on this planet who have been on my side through thick and thin. Sharing and caring and supporting and encouraging and disciplining and motivating and inspiring and maturing towards a common goal is what we offer here. Let's continue our offer to help those who are desperate to transition from the magnetic and shitty Spot FX environment to where professionals hang out. I know MANY folks who are still stuck in their mindset trying to make it in Forex. They will never ever make it because many are still focused on charts and fancy indicators without truly understanding the underlying market microstructure. I know I was stuck in a rut with utmost excruciating pain and suffering I have to self-impose upon myself as achieving success blinded me completely into giving up. I have personally grown to immense pain and all that experience has made me more tougher in my personal endeavors. I took the route of openly debating with folks here at the factory to make them understand the perils of trading. As most know, that did not go well as it only resulted in more pain for myself and others. I have come to a realization that humans cannot change. Humans cannot be changed by just talking or education unless they take it upon themselves to be wanting to change. During my pursuit, I unknowingly became the self-righteous guy to portray the mr. know it all giving advice to folks even when they never asked for it.

I know I have cluttered this thread immensely with my noob questions in your journal. Thanks for being the good guy. Goodness creates a bank of karma that works for you in the long run... and as it is becoming evident, I have no doubt you will fight this illness with all your might and come out much much stronger to complete all your remaining life pursuits. We are who we are and nothing or no one can change except the inner soul within us. Stand strong brother and never give up. Will power is all we need! Our minds work in mysterious ways to affect our body. How we think is how our body reacts to it.

Inserted Video
Staying in my lane...
  • #9,249
  • Nov 17, 2018 12:15pm Nov 17, 2018 12:15pm
Back to asking noob questions again:-)

I really need a "Close All Open Trades" button or script in Sierra. There is a "Close and Cancel" or "Flatten" or Reverse function but I want to only exit all open position and NOT touch any pending orders... similar to exit at % Equity script in MT4.

I also desperately need a Max Open Position count control. Under Global Symbol Properties, I can enter a number to limit number of trades for NQ but that include open and pending orders which is really stupid. I am looking to add pending orders as much as my account margin can allow but only trigger open positions based on a custom setting related to MM. Is this possible?
Staying in my lane...
  • #9,250
  • Nov 17, 2018 12:28pm Nov 17, 2018 12:28pm
Wow VEE you make things complicated. Best thing to do is go to sierra website and ask those questions there.
  • #9,251
  • Nov 17, 2018 12:35pm Nov 17, 2018 12:35pm
Quoting VEEFX
Back to asking noob questions again:-) I really need a "Close All Open Trades" button or script in Sierra. There is a "Close and Cancel" or "Flatten" or Reverse function but I want to only exit all open position and NOT touch any pending orders... similar to exit at % Equity script in MT4. I also desperately need a Max Open Position count control. Under Global Symbol Properties, I can enter a number to limit number of trades for NQ but that include open and pending orders which is really stupid. I am looking to add pending orders as much as my account...
flatten is to close open trades-not orders, at least in trading view. then ther is cxl all-which is to close all orders as well.

you can count your positions manually (hoping you can do basic math). if you're using fixed contract for entries, then the average position will show how many contracts you have open.then just based on that you can figure out how mnay positions you have open.
  • #9,252
  • Edited 2:08pm Nov 17, 2018 1:11pm | Edited 2:08pm
Quoting hilmy83
{quote} flatten is to close open trades-not orders, at least in trading view. then ther is cxl all-which is to close all orders as well. you can count your positions manually (hoping you can do basic math). if you're using fixed contract for entries, then the average position will show how many contracts you have open.then just based on that you can figure out how mnay positions you have open.
Flatten in Sierra closes both open positions and pending orders.
Cancel in Sierra cancels only pending orders and leaves the open positions running
Agree, average position displays the total open position count but there is no "X" to do a close-all open positions. The only way to do a close-all is to enter a market order with position size = total open position count.... which is quite dangerous as I could easily double my open position size if I get the direction wrong/fat finger.

Regarding math, I only enter via pending orders in a laddered scale but always with the same contract size (it actually eliminates risk associated with overexposure during a pyramid episode which you guys just do not understand...I tried and I know I am just wired differently in doing sh*t that many cannot)

Harold - Once I am done with this journey, you will know what I am trying to achieve is extremely thoughtlessness, straight-forward, simple, logical and sensible. It is based on what market makers do to make markets and I have a software engineering background so platform capabilities or lack there of tells a significant story (in my head). As I grow "younger", I am painfully aware that I need to derive simplicity from complexity so trust me, I am not going in the wrong direction. I am using your strategy of 6 contracts @ 3 trades/day as a baseline benchmark for risk/income/growth via hourly income. I track everything by the hour as that is a very good measure for someone who wants to quit the workforce, start an LLC and go fulltime.
Staying in my lane...
  • #9,253
  • Nov 17, 2018 1:20pm Nov 17, 2018 1:20pm
Quoting VEEFX
{quote} Flatten in Sierra closes both open positions and pending orders. Cancel in Sierra cancels only pending orders and leaves the open positions running Agree, average position displays the total open position count but there is no "X" to do a close-all open positions. The only way to do a close-all is to enter a market order with position size = total open position count.... which is quite dangerous as I could easily double my open position size if I get the direction wrong/fat finger. Regarding math, I only enter via pending orders in a laddered...
Sorry I was speaking from tradingview platform lol
  • #9,254
  • Nov 18, 2018 11:31am Nov 18, 2018 11:31am
Quoting Divergence
Wow VEE you make things complicated. Best thing to do is go to sierra website and ask those questions there.
Thanks for referring to their website. They have a formal place to ask questions about their product features within their support forum.

I am literally in love with market replay and running it for 3-5 hours every day to practice my execution skills. For those who are only focused on the first hour of NYSE, there is a way to skip 23 hours in replay via setting session times under Chart Studies (put the remaining 23 hours in evening session and then uncheck the checkbox).

Also/you have to make sure you are using real tick data from your data service provider in order for replay test results to be meaningful. Just an intra-day chart is not good enough as it varies. Just sharing what I am learning :-)
Staying in my lane...
  • #9,255
  • Nov 18, 2018 11:40am Nov 18, 2018 11:40am
Quoting VEEFX
{quote} Thanks for referring to their website. They have a formal place to ask questions about their product features within their support forum. I am literally in love with market replay and running it for 3-5 hours every day to practice my execution skills. For those who are only focused on the first hour of NYSE, there is a way to skip 23 hours in replay via setting session times under Chart Studies (put the remaining 23 hours in evening session and then uncheck the checkbox). Also/you have to make sure you are using real tick data from your...
The one thing ninjatrader really got right was their playback engine. At the end of the day I can download the current days data. It includes everything including depth of market info, time and sales, etc. For fun I will even test it with really large orders. Unlike most replays, it will actually take into account the DOM to determine how the order is filled. Even getting partial fills occasionally. It's as close to live as you can get in a playback in my opinion.

I am sitting here doing playback as well. I usually run it at 4x speed. I figure if I can do that successfully then regular days are easy (other than they feel like they drag). For me on playback I only need to move a slider to get it to the time and date I want. Takes it a few seconds to move everything forward then I am ready to go.
  • #9,256
  • Nov 18, 2018 1:37pm Nov 18, 2018 1:37pm
Quoting magnumfreak
{quote} The one thing ninjatrader really got right was their playback engine. At the end of the day I can download the current days data. It includes everything including depth of market info, time and sales, etc. For fun I will even test it with really large orders. Unlike most replays, it will actually take into account the DOM to determine how the order is filled. Even getting partial fills occasionally. It's as close to live as you can get in a playback in my opinion. I am sitting here doing playback as well. I usually run it at 4x speed. I...
Agree man. This is a real value-add feature... even helps us in re-evaluating our own executions with real time data to see where we went wrong and how we can improvise....more like "f*ck the trade stat analysis, let's run it again and see if we followed according to our trade plan". This completely eliminates the need for "backtest" in a traditional sense. In the platform itself, after every winning or losing episode, I lock my platform for 10-15 mins just to reset my mind, take a pause, re-evaluate, etc. We as traders need such controls to put our solitary endeavor in check and govern ourselves. There is no "Mom - Help me!!!" out here in this profession :-
Replays coupled with video recording and replaying the video is a fabulous thing to develop our trading skills everyday.
Staying in my lane...
  • #9,257
  • Nov 18, 2018 2:05pm Nov 18, 2018 2:05pm
Quoting VEEFX
{quote} Thanks for referring to their website. They have a formal place to ask questions about their product features within their support forum. I am literally in love with market replay and running it for 3-5 hours every day to practice my execution skills. For those who are only focused on the first hour of NYSE, there is a way to skip 23 hours in replay via setting session times under Chart Studies (put the remaining 23 hours in evening session and then uncheck the checkbox). Also/you have to make sure you are using real tick data from your...
You can just choose 9:30 time in the replay control panel and choose whatever day you want . . . .
  • #9,258
  • Nov 18, 2018 2:10pm Nov 18, 2018 2:10pm
Quoting Nik-Nyc
{quote} Yea, thus far we have 3 signals that qualify with Div's rules plus the S/D filter. Unfortunately only one of the signals got filled, however, it was a TP. Curious to get more feedback once you guys have had a chance to test it out.
Nic are you still using this delta filter? Did anyone try different settings (incease the number from 10, etc)?
Watched a video recently where a guy was using cummulative delta on ES in conjunction with supply/demand levels much like H's levels . . . . It does seem there would be an added edge with it.
  • #9,259
  • Nov 18, 2018 2:15pm Nov 18, 2018 2:15pm
Quoting VEEFX
{quote} Agree man. This is a real value-add feature... even helps us in re-evaluating our own executions with real time data to see where we went wrong and how we can improvise....more like "f*ck the trade stat analysis, let's run it again and see if we followed according to our trade plan". This completely eliminates the need for "backtest" in a traditional sense. In the platform itself, after every winning or losing episode, I lock my platform for 10-15 mins just to reset my mind, take a pause, re-evaluate, etc. We as traders need such controls...
Would be nice to be able to reset the live account as easily as you can reset a sim account. LOL! Now that would be a great feature.
  • #9,260
  • Nov 18, 2018 2:27pm Nov 18, 2018 2:27pm
Hi guys, just an update ... I will not be trading actively for a few weeks ... I have an opportunity to help a firm with training and have decided to take it. I am busy getting to know their systems etc. so I am very busy and will travel with them as well, so I decided to focus on that and take a rest with my trading. In my off time I will still practice using replay to build my consistency. I know what to look for ... must just get any hesitation and taking of weak setups out of my system.
Never give up !!!
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