Trading with range bars ichimoku cloud & awesome oscillator

Bad and good on Dax.

EDIT : Last trade was stopped out

..just wondering, T - do you favour DAX over FTSE and if you do, why?..if you don't mind my asking. Cheers.

1 tip. .. Wait the first half an hour when London opens... Price is to choppy usually....if you want to jump in a trend trade.... The first half an hour will not profitable in the long term with this method....

I never thought about it. I just noticed that ftse can be a little more sedate at times. But that is only a feeling, not observation based upon fact. Patje ( above) might have a point about the Dax?
I think saving charts of both for later comparison might be helpful.

I lost a lot in the beginning trading the first 30 minutes .. If I was lucky (not) I got trapped on both sides before it chooses a direction so for me no opening trades... And watch the yesterday high and low areas .. They trap you often as well

Afternoon Dax ( UK time ) not traded by me. I noticed most Indices today had a similar TA pattern

Thanks Patje -noticed that, quite often, swing high and then swing low provided a nice area to await break outs ?

Yeah today I took the Dow.. .. Dax is harder lately and the Dow had a few nice trades.... I wait a retrace after or before a breakout when structure is good and bias is in same direction ..

18 pips on the gbp/nzd. Probably out to early. Should've jumped on the gbp/jpy and gbp/aud as well.

An example of that initial swing high and low you wrote about Patje

Indeed the nq had something identical after us open

Dow went up for a few pips after a small pull back - I may have got in too late?

Whereas, if you look at the Nas, it is thrashing about at time of writing.

Here's a tip when it comes to 1st hour trading of futures:

Record the 1st hour price range distance of the last 20 sessions of regular trading hours (e.g., US e-minis, it's 9:30 - 16:15 EST), update after each new session (aka, a running average).

If you see price contained within a range well below the 1st hour range avg in the 1st 30 mins, realize that the average 1st hour range will most likely be fulfilled within the 2nd 30 mins, so if you start seeing price run then, you have a decent read on how far you can expect price to go before a meaningful bounce (i.e., a countertrend trade).

On the e-minis, often-times, big funds will trade more heavily right AFTER the 1st hour of regular trading. So if the e-mini futures are right at the extreme of their 1st hour ranges, I wouldn't get too aggressive on a trend trade, expecting much more movement in the direction of that extreme.

Another tip:

European markets are closing up at 12:00 PM EST, so look for those traders to try and square up their positions on the US e-minis starting around 11:30 AM EST. You'll tend to catch some nice moves in that time. It can be doubly good: Europeans settle up positions into 12:00 PM, US market participants strongly reverse the direction of the trend of their settlements. [Happened today - 3/1/2019]

[When I was trading the CL crude contract regularly, the 1st hour range was 1.00 - 1.20. When the avg fell to .60 you knew that market was entering a dull period for awhile. Today, you'll see days of 0.40 in the 1st hour...NOT worth trading when you shouldn't expect yourself to capture more than 1/2 of that range]

Question for CLTrader,
Thanks for sharing the tips.
I live in Australia, hence a time difference. When you speak of the regular trading hours are these New York times? Does the trading session of 9:30 -16:15 refer to the opening times of future markets in New York, similar to forex sessions. Trying to line those times up with my time zone.
Trying to get up to speed on futures, only trade forex at the moment.

Thanks.

alcol,

Yes, the RTH (regular trading hours) I'm referring to for the U.S. e-mini futures is New York Time. My bad as I'm finding people in other parts of the world always understand "New York Time" but sometimes don't know it's EST (Eastern Standard Time).

There's a cool website which will match up any 2 cities in the world based on their time zones. Here's the link for New York City and Sydney, Australia. I got this link by typing into duckduckgo.com (I switched to them for search because they don't track users like Google does):

"what time is in sydney if it's 9:00 am in new york city"

http://www.timebie.com/timezone/sydneynewyork.php


Hey alcol,

Since you're in Australia, you may be interested in looking at the HKFE (Hong Kong Futures Exchange). It has 2 of the best trending futures contracts in the world: the HSI and the HHI. I've mentioned them here before. Perhaps there's a way for you to get a real-time feed and sim trade them for awhile. The HSI can be very very scary stuff at times but I think you'll love the HHI, super highly correlated to the HSI and is like trading 1/2 an HSI contract. Both are perfect for trading on 1 min charts.

If you ever decided to trade real money on them, then you can always start with trading either one's mini contract, 1/5 the value of the big contract ($1.27 USD per pt vs $6.37 USD per pt). They're all traded in HKD (Hong Kong Dollars) which are always pegged to the US Dollar where 50 HKD = $6.37 USD. What that means is that if one's base currency for their account is in USD, then there is zero currency risk as the US dollars are converted to HK dollars and vice verse, no matter how much time has passed. In your case, the actual currency risk would be the fluctuation between the USD and AUS while your funds are in HKD.

Note:

I don't say it enough but I truly appreciate the courtesy and decorum everyone in this forum how shown to one another since its inception. I am grateful that RP has attracted such a quality following.

Thanks for the response CLTrader and the Hong Kong suggestion( the better option for me as 9:00 am New York time is 1:00 am in the morning here.)
One other question......... Do you use the same Rockypoint method as discussed in this forum for trading futures with the same settings?

Cheers and thanks again.

You're spot on, Rockypoint set a good standard for this forum with his response to all the questions. Patience of a saint. Guess that what makes him a good trader.

Mr T. the plodder... Dax was two short wins and two long failures.

Not traded by me but watched for a while. Marked in a possible loser and possible winner.
Anyone solely trade oil here?

Entering short under a flat Ichi cloud?

And be grateful you didn't trade FTSE today ( up to 11 am UK time) -Thrashes about in a range

Yep - slap on the wrist