how to manage false breakouts on NQ ES

I invite you to come into the chatroom and post your trades in Real Time LIVE, with stops and profit targets.
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Nitro, don't take this the wrong way but of all the gurus on this board, am I right in thinking that you are the biggest chief of them all? The one with the biggest following and fan base? Over 3000 posts after all.

I will humbly decline your invitation to prove myself. Why? firstly because I can't be arsed. Secondly because it would distract me from the task at hand - trading. I'm not here to say how great I am or to prove anything to anyone. If you want the "proof" try following what I do on paper for the next 3 months. If it doesn't work then so what - I was just another asshole full of shit. If it does, then you can PM me to say "thanks for the great ideas".

As I've repeatedly said, although I trade the ES I prefer the DAX so unless your crew wants to get up in the middle of the night to watch me trade, it won't work.

Despite the impression I'm probably the most egoless trader around. I've learned to "settle" for my $200 ES profit and not care when it goes onto make a $1000. I've learned to settle with break-even when a smaller target would have nothced a sure winner for $100. I just don't sweat it.

If I were to enter your chat room - I would just be another schmuck looking for someone to tell me how cool I was. That ain't my style. My goal here was a) to lay out some ideas that maybe ONE or TWO voiceless people will take onboard and never thank me for (my way of giving back to society!). And b) to have some fun ridiculing the idiots that troll this board :)
 
Quote from Simtrader:



Nitro, don't take this the wrong way but of all the gurus on this board, am I right in thinking that you are the biggest chief of them all? The one with the biggest following and fan base? Over 3000 posts after all.

I will humbly decline your invitation to prove myself. Why? firstly because I can't be arsed. Secondly because it would distract me from the task at hand - trading. I'm not here to say how great I am or to prove anything to anyone. If you want the "proof" try following what I do on paper for the next 3 months. If it doesn't work then so what - I was just another asshole full of shit. If it does, then you can PM me to say "thanks for the great ideas".

As I've repeatedly said, although I trade the ES I prefer the DAX so unless your crew wants to get up in the middle of the night to watch me trade, it won't work.

Despite the impression I'm probably the most egoless trader around. I've learned to "settle" for my $200 ES profit and not care when it goes onto make a $1000. I've learned to settle with break-even when a smaller target would have nothced a sure winner for $100. I just don't sweat it.

If I were to enter your chat room - I would just be another schmuck looking for someone to tell me how cool I was. That ain't my style. My goal here was a) to lay out some ideas that maybe ONE or TWO voiceless people will take onboard and never thank me for (my way of giving back to society!). And b) to have some fun ridiculing the idiots that troll this board :)
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I understand where you are coming from, and coming into the chatroom is up to you of course - I am not asking for "proof." I thought you were trying to help others here with a method and I thought I would learn something by seeing it in RealTime. Paper trading is meaningless to real traders - I want to see a REAL TRADER TRADE IT IN REALTIME - what a treat!

As to getting up in the middle of the night, I am up now if you are game? Come into the chatroom now, I am there waiting for you - just say hi.

nitro
 
Quote from Simtrader:



Nitro, don't take this the wrong way but of all the gurus on this board, am I right in thinking that you are the biggest chief of them all? The one with the biggest following and fan base? Over 3000 posts after all.

I will humbly decline your invitation to prove myself. Why? firstly because I can't be arsed. Secondly because it would distract me from the task at hand - trading. I'm not here to say how great I am or to prove anything to anyone. If you want the "proof" try following what I do on paper for the next 3 months. If it doesn't work then so what - I was just another asshole full of shit. If it does, then you can PM me to say "thanks for the great ideas".

As I've repeatedly said, although I trade the ES I prefer the DAX so unless your crew wants to get up in the middle of the night to watch me trade, it won't work.

Despite the impression I'm probably the most egoless trader around. I've learned to "settle" for my $200 ES profit and not care when it goes onto make a $1000. I've learned to settle with break-even when a smaller target would have nothced a sure winner for $100. I just don't sweat it.

If I were to enter your chat room - I would just be another schmuck looking for someone to tell me how cool I was. That ain't my style. My goal here was a) to lay out some ideas that maybe ONE or TWO voiceless people will take onboard and never thank me for (my way of giving back to society!). And b) to have some fun ridiculing the idiots that troll this board :)
More...

You've been arsed in a big way, dude:p
 
ES M3 just ticked above the BB. A bar with a lower high and lower low has been painted.

Entry now is high of last bar, 994.00.

Let's see what happens.

nitro :cool:
 
You've been arsed in a big way, dude
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That may be true, but don't you wish it had been you doing it, honey darling? Why don't you PM Jack to see if he's free, or do you have to take a ticket and wait your turn :p
 
Quote from Simtrader:



That may be true, but don't you wish it had been you doing it, honey darling? Why don't you PM Jack to see if he's free, or do you have to take a ticket and wait your turn :p
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Simtrader,

Mr Subliminal and I are hanging in the Chatroom. Come and say hi!

nitro
 
ES M3 just ticked above the BB. A bar with a lower high and lower low has been painted.

Entry now is high of last bar, 994.00.

Let's see what happens.
More...

For you maybe, but not for me! See page 24 on this thread - only trade the ES from 09:40 to 11:30 EST for one trade and maybe a second trade from 14:00 to 16:15.

Right now, I'm tracking the first two hours of the DAX.

BTW the notion that people can learn from a chat room is flawed compared to the concept of them figuring it out for themselves. You can't hand hold people to success. They have to find it for themselves. Watching my imperfections certainly won't help. Which means THEY have to select the right breakouts at the right time and applying rigorous money management. Not me do it for them. My method ain't complicated. Just about anyone willing can do it. But doing it well will take time cos I guarantee that people will still manage to screw it up by things like:

- ignoring the rules about time of day (as you just did maybe by mistake?),
- ignoring the "don't trade other signals inbetween"
- they will not exercise patience and discipline and learn to focus on a mere two (or max) 4 hours a day.

My method is not clever enough nor active anough for the guru lovers out there. But maybe one or two good folk have learned something useful. Who knows and do I care?! :eek:
 
Quote from Simtrader:

The Bollinger Bands are length 10, standard deviation 1.8.
The moving average is actually an "Adaptive Moving Average" with length 11 and FastC of 5, SlowC of 5. Whatever the hell that all means!

Truth is, I just plugged in the default indicators from my charting software SierraChart without caring or trying to fine tune any settings. I simply liked the look of them on the chart. That's how unscientific I am.

Pretzel is correct. It costs 8 Euros a month to get Eurex data from IB. I was being a little facetious when I said zero cost! But it's a chicken ***t cost compared to the benefit obtained of charting these symbols.

No I don't trade the Bund on Eurex. But only because I don't consider the intraday moves big enough for my taste. I see it just set a record of 2 million contracts traded in one day. It would be a great symbol to trade in a slightly longer timeframe. I just stick to the index futures, since they are all so closely correlated.

To the unaware, just bear in mind that Eurex is opposite to Globex in the sense that stops are held native, while stop-limits are not (in Globex it's the other way around). Other than that, trading the DAX and ESTX50 on IB is exactly like trading the ES and NQ.
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Simtrader,

It seems that your middle line is roughly equivalent to a 20 EMA - for those without "adaptive MA" on their charting program.

I think what you are doing is called "intermarket analysis"

pretzel
 
Quote from Simtrader:



That may be true, but don't you wish it had been you doing it, honey darling? Why don't you PM Jack to see if he's free, or do you have to take a ticket and wait your turn :p
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Dude, you don't trade. Just trying to be a smart-ass by boasting about the DAX.
 
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