My Daytrading Method

Yeah Emini, I did a search myself, looking for his "thread" so I could see what a font of wisdom he is. Here's another one (out of many) of his quotes which show the true "depth" of his knowledge:

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1000


Registered: Feb 2006
Posts: 264


04-08-06 10:18 PM



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Quote from stephenszpak:

I guess the software *normally* takes data from,
perhaps esignal. The DOM connects to the brokerage????

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It doesn't matter. But put simply, the dome is like an invisible/transparent paper that sits on the exchange without sitting on it (a bit like a transparent mirror). I think I butchered that one, however, the point is that it is not important when it comes to trading.

How or what the connectivity, that falls in the field of computer engineering, not trading.

All you have to do is enter the trades on the dome, and create a chart from the data supplied, with either your software, or, one built into NT.

NT is Ninja trader. Sorry.

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ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha

The guy doesn't even know what a Depth of Market is@#@!!###!?3@ :confused: :confused: :confused: (It most definitely is not - and I quote'em again: "like an invisible/transparent paper that sits on the exchange without sitting on it (a bit like a transparent mirror) "...the point is that it is not important when it comes to trading"

It's the Price Ladder which shows the different prices at which orders are placed to Buy/Sell (Depth of Market, DOM, get it?), and one of the easiest to use and most important tools for an intraday futures trader (it is so important that Trading Technologies [of X-Trader fame] attempted to "patent" it - believe it or not)

http://www.ninjatrader-support.com/subscribe_TT.htm

1/1000th is a complete jackass who gives very vague and general answers to questions in the hope of not looking like a complete fool, while pretending to have such great "information and knowledge"! Well I guess we all now know what "1/1000th" is all about!

Later,

Jimmy
 
Quote from JimmyJam:

Yeah Emini, I did a search myself, looking for his "thread" so I could see what a font of wisdom he is. Here's another one (out of many) of his quotes which show the true "depth" of his knowledge:

1/1000th is a complete jackass who gives very vague and general answers to questions in the hope of not looking like a complete fool, while pretending to have such great "information and knowledge"! Well I guess we all now know what "1/1000th" is all about!
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To all ET viewers, just goes to show what these so called ET bloggers such as JimmyJam, Eminitrader007, whitster, Setphenszpak, jimrockford are all about. Be very careful. As you can see while many are genuinely here to help, some are just out to screw you up, and laugh at you for all that one may be worth, and propagate their own agenda.

Anyway, my point all along has been that a successful trader doesn't need to know all this BS that these so called "gurus" or "traders" blind people with.

I whip their asses all day long on the market (and they know it, anyone who knows me knows it to be true), and that is all that counts. This is just their way of taking cheap shots (a loser's strategy, probably the only one they have, to drown their sorrows). They don't care about the sanctity of the market, only themselves.


http://www.clickhereyouidiot.com

http://elitetrader.com/vb/showthread.php?s=&threadid=67197&perpage=6&pagenumber=6
 
Here is what I found by going through all my past trades. Most of the successes that I had was when I traded with the long-term trend.

When the market was non-trending or when I went against the long-term trend, it was break-even at best.

One can look at the ADX and Bollinger-bands to determine the long-term trend. For example, if the prices are above the upper band and the ADX is rising, it tells us that the market is in an uptrend. In this case if the market opens above the Value-Range, buy at the VR and if the market opens below the VR, do not initiate a short trade.

By looking at the daily chart, I have come to the conclusion that the long-term up trend has been over. The market has finally broken below the 1 month range.

From this point on, I will look to trade on the short side only.

The Value-Range for Monday is 1297-1298.

The other benefit of trading with the long-term trend is that we do not necessarily have to have a profit target, we can just close it at the EOD so that we can capture the big moves too.
 
Quote from JimmyJam:

1. First trade stopped out at breakeven (green bar re-crossing the 40 SMA)

2. Re-entered the trade when it crossed the 40 SMA again (red arrow), closed trade when it re-crossed the 40 SMA (once again, a break-even trade).

No Losses, 2 Break-even trades.

On the whole, pretty much what I'd expect for pre-holiday trading.

Let me know if you have any questions.

Sincerely,

Jimmy
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Thanks for the suggestations. Someone else mentioned in the PM that using a CCI or some type of divergence will work well too. Wait for the price to get to the VR and look for a divergence to take a trade or just pass it.

I guess everyone has their own way of doing things. My VR is not the be-all, end-all but if it is combined with another indicator, it seems to work better.

For the time being I'm just going to look at the long-term trend and trade with the trend, just my preference. I usually enter the limit-price and stop and go to work. Yes, I do have another job and will have it till I can get this beast figured out.
 
To better evaluate your performance you should grade your money-making trades: i.e. based on what percentage of the move that you caught. This could help you refine your targets, entries, exits, ...
Quote from eminitrader007:

Exit @ 1291.75

Net Profit: 5.25 pts.
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