{quote} $800 to trade with ! What broker allows you to do that please ? More importantly, take care of your health and keep making rapid progress in your return to fighting fitness
You have to have at least 250 in the account to keep it open.
- #21
- Apr 16, 2019 11:46am Apr 16, 2019 11:46am
- Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
- #22
- Apr 16, 2019 11:58am Apr 16, 2019 11:58am
- Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
- #25
- Apr 17, 2019 7:51am Apr 17, 2019 7:51am
- Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
The biggest drawback to trading the 5 minute and longer time frame is that you sometimes walk into a chart that looks like this:
Looks like a really nice trend developed a little while after London open. Best case would be US open pushes it down and then gives me a chance to jump into a trade. This might be a good time to start to explain what I am looking for in a trade. That will be my next post unless a good trade magically shows up. Since I started typing this it has pushed to the upper standard deviation band which can sometimes give a really clear reversal sign. I don't like going counter trend for the first trade of the day but it doesn't mean I won't.
Looks like a really nice trend developed a little while after London open. Best case would be US open pushes it down and then gives me a chance to jump into a trade. This might be a good time to start to explain what I am looking for in a trade. That will be my next post unless a good trade magically shows up. Since I started typing this it has pushed to the upper standard deviation band which can sometimes give a really clear reversal sign. I don't like going counter trend for the first trade of the day but it doesn't mean I won't.
- #26
- Apr 17, 2019 8:31am Apr 17, 2019 8:31am
- Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
Ok, here is how I trade. The 4 moving averages are grouped into 3 pairs.
Time Frame: although this is effective on most any time frame the highest winning percentage is on the 5 minute and up.
Stop size: Just depends on you and your tolerance for swings in price. Right now I use an initial stop of 30 ticks but that is only an initial stop. The actual stop varies depending on time of day and the volatility of NQ. In the first example below the actual stop was only about 9 or 10 ticks. I will usually leave the stop at the initial value for a little while until price makes a definite and clear move in my favor. I usually will wait for a candle to close below my mental stop before exiting a trade. NQ can be a beast at times and will spike against you short term so holding back on the stop helps minimize getting stopped and then price moving in your direction.
60 ema is paired with the 21 ema for a short term trend indication.
200 ema is paired with the 60 ema for a more intermediate trend direction.
800 ema is paired with the 200 ema for a long term direction.
Example 1 a normal long entry. Opposite is true for short trades.
Just because a moving average crosses the other doesn't mean you take a trade. The criteria is very specific. In the picture below, the 21 ema is above the 60. Price moved down and at least touches the 60, followed by one up candle and then one down candle (they MUST be next to each other), entry would be long at the high of the two candles. This trade could have been taken with only about a 10 tick stop and would still be running if you were up at 4 am eastern US when it showed up. As of 920 eastern that would be 140+ ticks and a trade running for over 5 hours. They don't all happen this way but it sure is nice when it does.
Some key definitions:
Inside bar: for my trading an inside bar is any candle that doesn't make a higher high or lower low when compared to the previous candle.
LLHC: lower low, higher close. Previous candle must be a down candle, price then makes a lower low but closes higher.
HHLC: higher high lower close. Previous candle must be an up candle, price then makes a higher high but then closes lower.
From asia session last night:
21 ema doesn't matter due to where price is in relation to the moving averages.
60 is above the 200 intermediate trend is up.
inside bar forms. Immediate entry or place a buy stop a few ticks above price for a more conservative approach.
Time Frame: although this is effective on most any time frame the highest winning percentage is on the 5 minute and up.
Stop size: Just depends on you and your tolerance for swings in price. Right now I use an initial stop of 30 ticks but that is only an initial stop. The actual stop varies depending on time of day and the volatility of NQ. In the first example below the actual stop was only about 9 or 10 ticks. I will usually leave the stop at the initial value for a little while until price makes a definite and clear move in my favor. I usually will wait for a candle to close below my mental stop before exiting a trade. NQ can be a beast at times and will spike against you short term so holding back on the stop helps minimize getting stopped and then price moving in your direction.
60 ema is paired with the 21 ema for a short term trend indication.
200 ema is paired with the 60 ema for a more intermediate trend direction.
800 ema is paired with the 200 ema for a long term direction.
Example 1 a normal long entry. Opposite is true for short trades.
Just because a moving average crosses the other doesn't mean you take a trade. The criteria is very specific. In the picture below, the 21 ema is above the 60. Price moved down and at least touches the 60, followed by one up candle and then one down candle (they MUST be next to each other), entry would be long at the high of the two candles. This trade could have been taken with only about a 10 tick stop and would still be running if you were up at 4 am eastern US when it showed up. As of 920 eastern that would be 140+ ticks and a trade running for over 5 hours. They don't all happen this way but it sure is nice when it does.
Some key definitions:
Inside bar: for my trading an inside bar is any candle that doesn't make a higher high or lower low when compared to the previous candle.
LLHC: lower low, higher close. Previous candle must be a down candle, price then makes a lower low but closes higher.
HHLC: higher high lower close. Previous candle must be an up candle, price then makes a higher high but then closes lower.
From asia session last night:
21 ema doesn't matter due to where price is in relation to the moving averages.
60 is above the 200 intermediate trend is up.
inside bar forms. Immediate entry or place a buy stop a few ticks above price for a more conservative approach.
- #29
- Apr 17, 2019 1:46pm Apr 17, 2019 1:46pm
- Joined Jun 2006 | Status: Trader | 5,709 Posts
{quote} .37/side
so let's do some math:
emini NQ
1 tick = $5
comm= 3.6/rt
net after 1 tick = 5-3.6=$1.4/contract
micro NQ
1 tick=0.5
comm=0.74/rt
net after 1 tick=.5-.74=-0.24
so you need 2 ticks to be in profit whereas emini just need 1 tick
what's the volatility like for micro, nobody knows. But i'm guess the liquidity is gonna be shit. i mean, no big boys will play this. This is marketing on behalf of CME to get the smaller players into futures (most likely former forex traders)
Now what if you became a CME member?
non member exchange fee = $1.18/side
member=0.35
member also do not pay the nfa fee (which is .02/side)
so non-member currently paying AMp
1.18+0.5 (broker fee)+.1(CQG routing)+.02(nfa)=1.8/side=3.6/rt
member pays AMP
.35+.5+.1=0.95/side=1.9/rt
after 1 tick in emini NQ member vs nonmember
nonmember = 5-3.6=$1.4
member= 5-1.9=$3.1
that's more than 2x as much
for micro NQ
nonmember = .5-.74=-.24
member= not sure, cause i need to see a broker statment to know how AMP breaks down the 0.74/rt commission..
doing these cost calculations gives me a hard on i tell you..
- #30
- Apr 17, 2019 1:56pm Apr 17, 2019 1:56pm
- Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
- #32
- Apr 17, 2019 2:00pm Apr 17, 2019 2:00pm
- Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
- #37
- Apr 21, 2019 7:30am Apr 21, 2019 7:30am
- Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
- #38
- Apr 21, 2019 3:16pm Apr 21, 2019 3:16pm
- | Joined Nov 2016 | Status: Trader | 1,096 Posts
'in less than half an hour he made over 100 ticks'
- #39
- Apr 21, 2019 7:33pm Apr 21, 2019 7:33pm
- Joined Jun 2006 | Status: Adios! | 3,377 Posts
Staying in my lane...