Day-Trading 2.0 for small traders

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The trading style described in this thread is by far
the best I have seen. The AHG thread is also very
good.

I have been trading YM using a 144 tick chart with
8 period HMA to identify waves and 89 period HMA
for direction. Using stoch for entry.

However, my problem is that I also liked pivots,
so I was counter-trend trading most of the time
trying to time reversals going against the trend.

Things look a lot less chaotic when you go with the
trend. Less stressful too.

I will re-read this thread many times and plan to develop
a style that fits my personality.

thanks
 
Been off on vacation for a bit, but as always I find great reading in this thread! Many thanks to all who have contributed!!!

Just wondering what all have found to be the best setup for jpy and bp on futures for scalping. Looks like you use vol charts jjrvat (250 I think...) along with the 6 and 240 wma's. I have been using 1 tick charts with a semi-rainbow wma setup, but don't find I get enough information on the 1 tick charts. I'd really like to find something better I'm comfortable with so I can put in some screen time...

Also, I've been only using limit orders trading on my charts and am wondering at what contract size we start not getting filled in the real world? I'm only on 2 week demo's right now (yeah, kind of stinks...but I'm really liking futures!) and have found 8 contracts to be right about the limit to get in on a scalp--but again, this is a demo environment.

TRO, thanks a ton for your intuitive ea's, but wondering how I could put them to work with my broker's program (openecry) I know it uses ea's, but what kind is another question...although I should probably google it:D I am a dud when it comes to programming...but I do like trading! lol

Italian--always enjoy your posts and chart analysis...it looks so incredibly easy when you show it--I'll send a chat your way soon...

pkchilly
 
using this method i am trying to trade usd.jpy pair through IB. seems like plenty of liquidty afterhours.

would like to know why i cant see tick chart for this.
I am charting in QT and CAN see 2 min chart. but if i go for tick chart dont see anything. Is that the default for currency.

Also would like to know what size should one trade. IB defaults to 25000. But i am going to change it to 10000. so buying would meen i am buying 10000 dollars worth of usd is this correct assumption. whats is the leverage for this. What kind of leverage does IB allow.

Thanks for a great thread.
 
thanks for posting this charts would like to know what is your strategy.
I know you have a target for 2 pips and stop of 7 pip. is this fixed target or you change.

whats your entry criterio.

1. do you wait for all the in timeframes to coincide before making trade let me know.

thanks




Quote from TheRumpledOne:

20a7uqc.gif


5 red cherries... this is too much fun!
More...
 
jjrvat,

Thank you for the thoughtful commentary. This is a work in progress for me. 3BR (3 Bar Reversal) watching for HH, HL, etc. seems to work well for me getting into the trend at the end of a retracement. Below is a chart from yesterday morning showing the perfect trades. I took a couple of these and also made some mistakes. finding entries on a chart in hindsight is easy. Hopefully, with practice it becomes instinct.

Best Trading to Everyone,
Shel

6zc2f6.jpg
 

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Quote from pkchilly:

Been off on vacation for a bit, but as always I find great reading in this thread! Many thanks to all who have contributed!!!

Just wondering what all have found to be the best setup for jpy and bp on futures for scalping. Looks like you use vol charts jjrvat (250 I think...) along with the 6 and 240 wma's. I have been using 1 tick charts with a semi-rainbow wma setup, but don't find I get enough information on the 1 tick charts. I'd really like to find something better I'm comfortable with so I can put in some screen time...

Also, I've been only using limit orders trading on my charts and am wondering at what contract size we start not getting filled in the real world? I'm only on 2 week demo's right now (yeah, kind of stinks...but I'm really liking futures!) and have found 8 contracts to be right about the limit to get in on a scalp--but again, this is a demo environment.

TRO, thanks a ton for your intuitive ea's, but wondering how I could put them to work with my broker's program (openecry) I know it uses ea's, but what kind is another question...although I should probably google it:D I am a dud when it comes to programming...but I do like trading! lol

Italian--always enjoy your posts and chart analysis...it looks so incredibly easy when you show it--I'll send a chat your way soon...

pkchilly
More...

Try and compare the 2 range bar chart and 3 range bar chart and see witch one you like most, I'm using 3 range for eur/jpy and 2 range for usd-jpy
 
I find comfort in reading this thread, given that I have been toiling away on a system for a while now that is very, very similar to this one.

TheRumpledOne -- one of the 'indicators' that I have added to my system is a 'low probability' indicator, which tracks price distance from the moving average and sees how many standard deviations the current price is. If it is too far, I place a close trailing stop, given the high probability of a reversion to the mean. Have you ever considered anything like that before?

Great thread! Loved reading it!
 
Too see how these principles work great pull up a 2 minute chart of AAPL today and enjoy:
Determine Macro
Look at the waves
Is everything aligned
Cash register rang all day here.
 
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