how to manage false breakouts on NQ ES

Sim - on the ES chart, about three bars back, wasn't that a breakout that met your criteria that would not have worked? Or, am I missing something? Thanks...
More...

I pulled the chart and don't see it? In any case, I would never consider a breakout in the ES "off hours" as valid. Whether that's correct or not I've no idea. But I only stick to 09:40 - 11:30am yankee EST (or 14:00 - 16:15 EST) when trading the ES. No other times permitted!
 
Quote from Simtrader:



I pulled the chart and don't see it? In any case, I would never consider a breakout in the ES "off hours" as valid. Whether that's correct or not I've no idea. But I only stick to 09:40 - 11:30am yankee EST (or 14:00 - 16:15 EST) when trading the ES. No other times permitted!
More...

It looks to be between 9:40-9:50, the bar poskes above the BB, and the next bar makes a lower low, but also a higher high - so I suppose that invalidates a possible entry?

Thanks!
 
Enough said.........................
More...

Klutz, your intellect matches your penis size. I'm a sad fucking wanker ....because? Finish the statement asshole! Because I enjoy fucking with dimshits like you, that's why. Everyone else with half a brain was able to figure that out.
 
It looks to be between 9:40-9:50, the bar poskes above the BB, and the next bar makes a lower low, but also a higher high - so I suppose that invalidates a possible entry?

Thanks!
More...

Just to clarify so I can see where you're talking about: What symbol, what date and time zone?

But to answer without looking, yes that would invalidate. A pivot high is only formed when we've had a subsequent lower high. Which meams you must wait for the next bar to close before seeing if that criteria was met. We also need a lower low (not necessarily the same bar as the lower high bar).
 
No need to keep reminding us.............
More...

Klutz, have you ever considered that retorts like this make you look like a fucking idiot? There is absolutely nothing remotely original or funny about them. You ain't even in my league pal, so piss off - you're becoming a BORE.
 
A few pages page, there was some chat about "post your method, you post yours". Let's be clear, I'm not bothered if a genuine person doesn't post their method. Maybe they'll just take mine and enhance it and give it back. I can deal with that! Or maybe they'll post one when they have one (if they're new to trading).

The only people I 'demand' post their method, are the ones who have the fucking audacity to criticise me after posting mine. Or the fucking moralisers who can't leave me alone.

Just so's that's clear!

:)
 
Quote from Simtrader:



I use 15pts in the DAX and 10-15 in the ESTX50 (which I haven't been trading as much lately). I oiften feel like I leave too much on the table with the DAX at 15pts and could do with some improvement re: multiple contracts i.e. exit one at 15pts but hold another for a bigger target? But I haven't got the risk/reward on such ideas down to a point where I'm happy. The best move in the DAX/ESTX50 is often the first two hours in their own right i.e. 03:00am - 05:00am EST when the yanks are asleep. The first two hours of Globex are usually good too.

Have you traded on Eurex before? If not, it's like Globex except that stops are native and stop-limits are not (the other way round from ES/NQ). Plus, you have to watch the order modification fee issue i.e. only five order modifications per fill, else they charge you 50 cents per change above that. So, if I'm in a trade, I don't move my stop more than 10 times. That way, I never pay this silly fee. It's a nickel and dime policy by Eurex which I strongly dislike, but such is life.
More...


Thanks for the info on EUREX - I didnt know about the 50 cents charge. I'll have to tweak my BT to do less stop changes.

I'm not sure but I think 15 pts is too big a target for a single contract. I think the MAE/MFE analysis from WL may help in determining targets for multiple contracts.

pretzel
 
Quote from FloridaTrader:

SimTrader,

I tested your Breakout System with a Wealth-Lab program and WTF it actually makes money. But you already knew that. :) Just saying thanks for posting your system and giving me some new idea's on how to trade. I used the QQQ for my test because I don't trade futures yet. It is rather hard to tell a computer what my eyes see on a chart. So when ever I can get a macanical system to work with a computer program I am sure to be on to something.

I would think that if the previous day was a compression day.
(Day with smaller then usually volitility)
The odds of a BO trade working might be a little stronger.

FT
More...

FT,

You're right. It's easier to eyeball the pattern.

IMO, the ff are not easy to code?
1. there should be a pullback of x number of bars after a pivot before a BO entry occurs (no chasing if the next bar BO's from the first pivot)
2. the BO may occur after x number of bars - so how far back do you check for the last pivot bar?
3. there may be a new pivot bar after the first pivot before a BO occurs - so the code must change the pivot bar to the new pivot bar
4. moving stops - very discretionary

pretzel
 
You must log in or register to reply here.
Back
Top