Make Trading simple!

Going to be vey interesting to see how the Price Action is today. The P/A has been pretty ugly since the open yesterday. Since there is CPI tomorrow and then the PPI and FOMC on Wedsenday. Most of the time I do not bother trading at all on FOMC days.

Well the first Monday I am home in quite a while and it is totally lame. Only 400k in volume (12-23 contract). The new contract for 03-24 did 600K. ES usually averages around 1.6 million contracts a day. So 35% less volume than normal. 10 yr Bond Auction and nothing happened. My 1500 tick chart goes back to Friday afternoon. That does not happen ever. Just means that no one was trading today. Everyone waiting on the CPI and then the PPI and FOMC on Weds. I do not do well on trades that take hours. But the Nap was nice. And yes the Dec contract does expire on Friday. So hopefully everyone is rolling over to the March 24 contract. As I was correctly reminded by someone earlier. The nap was still nice!!

Dear Pastor K,
Hope you are well and things going well. I have some questions, and clarifications to ask if you are comfortable responding.

- Besides CCI, the Stoch RSI have to be in agreement in both short & long-term time frames?
- What if the CCI and stoch RSI lines keep staying above or below 0 & 0.5 lines without crossing the lines? (consistent up or down trend) what do you do? – wait until the CCI, Stock RSI cross the 0, 0.5 lines or just open position in the direction of the trend?
- What are your exit strategies? Change in direction of the CCI, Stoch RSI lines affect your decision even though they have not crossed the 0, 0.5 lines yet?
- What are the signs or how do you feel there is a correction starting in the trend?
- What would be the indicator settings (CCI, Stoch RSI, BB) for 1 minute and 3-5min and also 15 min & 1 hour time charts for currency?
- Are you able to suggest specific currency pairs and futures suitable to trade in Asian time zone (outside NY session) since I live in Asia, using your method? Because NY session is nighttime here in Asia and the time zone is just opposite
- If I still want to trade ES futures outside of the NY session, then when/what time would be the best time to trade? - most active period with market moving…?. I find the market is very slow and horizontal when trading ES futures outside of the NY session (since I live in Asia and when I trade it is nighttime in USA)
- Do you think your method will work for the market with a horizontal slow move? Futures seem to be very slow and horizontal when trading outside of the NY session.

Thank you in advance.
Cheers, BB

this is great thread
if ES1223 is not good today we can apply this strategy to other pairs like EURUSD or other currency pairs?
thanks!

This basic Strategy can be applied to anything that can be traded. I would change some of the settings and when come to currency pairs I would only trade them from the London open through the London close if it were me. I do not trade currency pairs just not worth it. But a lot of people do.

My point was that yesterday was slow because of news coming out this week and people were just waiting on that. Happens all the time.

What instruments do you like to trade James?

Good Questions BBman. I will try to answer them all. Just may take a little time. But they need to be understood. So I will do my best.

I only traded from the open which 7:30am my time on the chart through 9:00am. Church staff shows up at 9:00am and we had a lot of work to do today. So I never got back to the computer the rest of the day. To day was pretty easy really. made 12 trades. 11 winners and one losers. Which a better winning precentage than normal. I made 50 ticks minus the 53 dollars in commissions. that is based on one contract.

This is my 1500 tick chart. I spread it out a little since it is not to long so you could see the time and price. Compare that to the 610 tick chart on it should answer some questions.

First 610 tick chart. 7:30am-8:10am

610 from 8:10-9:00am

So I do not trade outside of the Regular NY market hours. If I did it would be maybe a few hour before the open. Really the volume overnight is so low the Price action is very hard to predict. Usually takes less than a hour after the open to have more volume than the Globex hours. So trading ES from your part of the world would be a challenge.

Also I do not trade currencies and I have not since the early 2000's. But I would trade during the London hours. London moves the world when it comes to currency trading. I would be very careful to trade outside of London hours as it can go sideways most of the day. I but would trade the big ones. Eur and JPY and GBD and the the Canada dollars. But the big pairs. Just watch the news. 4hr 1hr and 15 time frames. Play with them and see what you like.

I personally would not trade any currency pairs on time frame shorter than 15 minutes. anything less many times is just noise in the markets.

taking profits for me is pretty simple. When enter I place a LMT order 4-6 ticks a way from my entry. that is it. I find if wait for the indicators I give to much back and I don't make any more money I know others may do that differently. but that is what I found works for me.

Just study my trades I posted. If the CCI is above zero but the Sto-RSI is below 0.5 then that is not a trade. I want the regular Stochastic to show strength, The Sto-RSI to be above 0.5 and CCI crossing above zero. That is a buy. I want the 610 and 1500 tick chart to agree. Then do the opposite sell. very simple. Just practice and it will come.

hello
these day i interesting DAX .
i think in here FF some of ppl trading DAX nicely .
it looks quite stable trading with DAX so it looks interesting.
thanks

I like the sound of that. I have know people around the world who trade the DAX. I have not, but really it could be kind of interesting. There is a lot of opportunity there. Let us know how it goes. Post a chart if you like. Would be interesting for sure.

Blessings!

Tomorrow is FOMC day. So usually I do not trade at all. If I do it maybe the first two hours. So we will see. But probably not. Everyone have great day!!

No longer using MACD?

I still am! I just like to many indicators

So I did not trade Friday. Was to busy at church. So I did a run through of the live data on the Play back feature. These are the results. Really not my best day. Just have to take commissions out of the P/L. But I find it hard to concentrate when I am not really trading. So I take more losers than I should.

The early part of the trading day on my 1500 tick chart

Actual entries and ex its

The rest of the trades.