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Plan the Trade

  • #12,801
  • Apr 7, 2020 3:52am Apr 7, 2020 3:52am
Quoting Noeyedear
Respect to H and the rest of you that can trade 20sec NQ consistently - i've been trying to emulate over the last 18 months or so but i haven't been able to make it work so far. The whole process did, however, steer me to profitability with 123s as the key ingredient. During these times and the fact that i'm UK based, FTSE has been a tamer animal than NQ and not using futures right now - when/if conditions normalise i'll probably trade NQ again with this approach. Daily chart on left for levels of interest; 5min for entry/exit, i look for 123s to...
I am a big fan of Kejun.
saw it first on here. ( Towards the end of the video)
Ignore the other stuff where he talks of his trading system consisting of various elements. The Kenko is described as a stand alone system. I use the smaller ma as a stop or use 123 etc.
It's good discipline for trading ' a line in the sand' :-)
Elsewhere he hints at %R as an oscillator ( used upside down) but I don't -not yet. Less is more for me.
By the way -the guy is not selling anything.
Sorry to pollute Harolds thread but was interested that we have a similar approach. Good luck.

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every Saint has a past. Every Sinner has a Future
  • #12,802
  • Apr 7, 2020 4:13am Apr 7, 2020 4:13am
Thank you for the vid and encouraging to know you find a similar approach works - I think in time i'll use less too. I don't think we're polluting the thread, I think CG would be encouraging us to share different strategies
  • #12,803
  • Apr 7, 2020 6:06am Apr 7, 2020 6:06am
Quoting onejester
{quote} This is the most up to date, sets out really clearly: https://www.youtube.com/watch?v=vbBsakQtnIs Edit: Ask yourself what conditions exist for a 123 break? When do they fail? And what happens when they fail? Is there another opportunity or is there a reversal? Do the same with Harold's setups - that's what got me started. Don't go looking for the answers elsewhere, find them yourself on the chart. Some days you will get caught out - expect it. Ask why, what were the conditions - often you will get an aha moment that you can exploit....
Would also say that this video is a much clearer explanation of Harold's description and use of 123 etc.
Great stuff and thanks for posting it.
every Saint has a past. Every Sinner has a Future
  • #12,804
  • Apr 7, 2020 8:23am Apr 7, 2020 8:23am
Quoting turnip15
{quote} What do you think of AMP ? I am looking at them cos they have one or two platforms that run on Imac without the parallels etc requirement to run windows on iMac. Cannot use Europe AMP -they have no charts for iMac ( without using parallels or boot camp etc) and their web based MT5 is dreadful. I am UK based.
good morning T, I am about 8 hours behind you in the desert southwest, apologize for the delay. I have only about 3 months with AMP, so far I
seem happy with it. just one day last week a bit glitchy on the feed (could have been cqg but the internet all over our area was spotty so who knows).
I run a pc with win7pro (last thing they got right), use amp's multichart free charting package. seems to do just about everything I want, still have a few things to
explore on the charting software. retail prices for the e-mini seem competitive and they seemed to have weathered the worst of the financial upheaval
so I think they will be around for a while. used their help desk when setting up and transferring from ninjatrader they were always available. always a debate
on cqg vs rithmic but I suspect market conditions/liquidity issues are more the source of complaints. sorry they do not offer charts for imac, I never
liked any web based trading for any brokers I have used over the years. maybe some of the other traders here have good download solutions of
charting pgms for imac. but in summary I can recommend them if you can make the software work for you.
good luck,
regards
goma
  • #12,805
  • Apr 7, 2020 8:46am Apr 7, 2020 8:46am
Quoting turnip15
{quote} Would also say that this video is a much clearer explanation of Harold's description and use of 123 etc. Great stuff and thanks for posting it.
No problem. Install wine on mac, sierra works perfectly. Cloud locks it up, but you can use averages without filling the cloud.
'in less than half an hour he made over 100 ticks'
  • #12,806
  • Apr 7, 2020 9:17am Apr 7, 2020 9:17am
..short off the 5min 123, yesterday's high a good target perhaps.
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  • #12,807
  • Apr 7, 2020 9:32am Apr 7, 2020 9:32am
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Become the casino
  • #12,808
  • Apr 7, 2020 9:34am Apr 7, 2020 9:34am
may be going to +1 too soon .. will look into
Become the casino
  • #12,809
  • Apr 7, 2020 10:05am Apr 7, 2020 10:05am
+18 live, but having such a small account is affecting my decision making. Getting rid of the resistance in my head is the next challenge...

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'in less than half an hour he made over 100 ticks'
  • #12,810
  • Apr 7, 2020 11:19am Apr 7, 2020 11:19am
2 1/2 wins 1 loss bunch of +2s
  • #12,811
  • Apr 7, 2020 12:22pm Apr 7, 2020 12:22pm
missed the opening volatility, out on a food run for the family. kind of sounds funny to actually say it. a couple of small live micro trades on the nq.
plus 5 and plus 9. lots of sideways action followed by breakout spikes still a bit too volatile to hang around long. market seems waiting for
a shoe to drop after the run up. hope all are well and safe.
good luck
regards
goma
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  • #12,812
  • Apr 7, 2020 2:35pm Apr 7, 2020 2:35pm
Quoting onejester
+18 live, but having such a small account is affecting my decision making. Getting rid of the resistance in my head is the next challenge... {image}
this helps the psychology oj:

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Become the casino
  • #12,813
  • Apr 7, 2020 3:33pm Apr 7, 2020 3:33pm
just read that there was a 40point (not tick) drop, on ONE tick on the e-mini sp about 10 min before the ny close. lack of liquidity to blame.
I haven't checked but I bet vol was pretty hefty on that ask. trade safe.
regards
goma
  • #12,814
  • Apr 8, 2020 5:58am Apr 8, 2020 5:58am
Quoting onejester
+18 live, but having such a small account is affecting my decision making. Getting rid of the resistance in my head is the next challenge... {image}
CQG data and MNQ: hows the slippage now? Not bad?
  • #12,815
  • Apr 8, 2020 8:58am Apr 8, 2020 8:58am
Quoting bapakjason
{quote} CQG data and MNQ: hows the slippage now? Not bad?
Yesterday was ok, ATR is higher today.

Ras, thanks for the video suggestion. Enlightening. I have to overcome the nerves. My analysis is good, but I failed to pull the trigger short here. WTF is wrong with me? Have to overcome the fear. The video is highlighting a couple of simple (but hard to overcome) issues. I'm a freak

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'in less than half an hour he made over 100 ticks'
  • #12,816
  • Apr 8, 2020 9:12am Apr 8, 2020 9:12am
Quoting onejester
{quote} Yesterday was ok, ATR is higher today. Ras, thanks for the video suggestion. Enlightening. I have to overcome the nerves. My analysis is good, but I failed to pull the trigger short here. WTF is wrong with me? Have to overcome the fear. The video is highlighting a couple of simple (but hard to overcome) issues. I'm a freak {image}
welcome to the club.
good luck
regards
goma
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  • #12,817
  • Apr 8, 2020 10:29am Apr 8, 2020 10:29am
Quoting goma
{quote} welcome to the club. good luck regards goma
The main problem is readjusting my mindset for going back live. I just have to stay live, take the knocks & let the confidence build.

+5 btw, slippage today ok Jason.

Onwards...
'in less than half an hour he made over 100 ticks'
  • #12,818
  • Apr 9, 2020 5:11am Apr 9, 2020 5:11am
I beg those of you who doubt a given strategy to watch this from c 1.32, it is gold. I watched all four, and it was this that switched the light on. To me, it is as valuable as all of the time I have put into my own analysis. I suspect it is easy to listen to, but really hard to master. When I said a few posts previously, 'maybe I can't afford to trade futures right now', I was ahead of myself. Thanks once again for this Ras.

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'in less than half an hour he made over 100 ticks'
  • #12,819
  • Apr 9, 2020 7:53am Apr 9, 2020 7:53am
Quoting onejester
I beg those of you who doubt a given strategy to watch this from c 1.32, it is gold. I watched all four, and it was this that switched the light on. To me, it is as valuable as all of the time I have put into my own analysis. I suspect it is easy to listen to, but really hard to master. When I said a few posts previously, 'maybe I can't afford to trade futures right now', I was ahead of myself. Thanks once again for this Ras. https://www.youtube.com/watch?v=s8hg-1Rfs7c&t=47s
So you mean the exercise of taking 20 sample trades?
  • #12,820
  • Apr 9, 2020 9:30am Apr 9, 2020 9:30am
Yes. Easy to create that environment in Sierra.

Based on Douglas's rules, I should not have traded today because my account is nowhere near big enough. *But I am very certain of my strategy, I just hadn't thought of it in the way he put it. I had read similar years ago, but didn't have enough experience with the technicals.

*I have tested this over a long time, I haven't tested Harold's because I'd fallen into the trap mentioned in the video. I wish I had watched it back then, ironically it was on my hard drive. On the flipside, Harolds strategy really got me asking questions and in turn I saw the charts in a different way. I looked at the conditions around successful trades and those that didn't work out.

The key to that video is that at some point you have to go live and do those 20 trades. Until you have done that, you won't have a chance of beating the demons out of you. Douglas also said something about how long you can seriously focus for. That is another really important point, hence Harold's 1hr.

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'in less than half an hour he made over 100 ticks'
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