Saltynuts's trend following journal

[Overnight]

Chiming in on everyone's futures trading? Like "nice call!" or "good job!"? ...

No, stuff like this...

Mreh, was going to link some bits, but decided against it all. Just be one with the ET, Nutty. All will be well.

 

[Saltynuts]

Haha Overnight, you were probably thinking of something I was mouthing off while drunk. Apologies again. One with ET I shall be. Thanks!

 

[lawrence-lugar]

Overnight, One with ET I shall be

Good luck and good trading and good skill and good wisdom and good mind with your trading journey and journal.
I hope you're able to post a photo of your face surrounded with cash like a lion's mane a month or year from now.

Mazal Tov, and May the Farce Be With You,
Make Trading and Your Life Great Again 2018...High-Five` ,

 

[traider]

Here are some thoughts and questions to ask yourself:

A trading instrument has a daily trading range. Prices start from the open and continue to the close. Is there a way to determine an likely up day from a down day early enough to take advantage of it? Does it even matter to have a sense of overal intraday direction for certain types of trades?

Looking at many intraday charts, you are likely to find several common occurances. A quick move to the average daily range from the open, a slow move to the average daily range from the open, a reversal, and a trading range on the both sides of the open. In each one of these situations, with the chart in front of you, can you construct a profitable trading plan? Are there any ways to give you an edge in determining how likely one of the four occurances are beforehand?

Looking at the full days worth of a intraday chart, mark your optimal entries, stops, and exits. How many worthwhile trades did you find? Is there a concentration of these trades according to time of day? For each one of the common occurances mentioned earlier, is there a different optimal entry method? Are there any frequent commonalities with the various reversal points?

As prices move throughout the trading day, you may notice varying levels of activity. In addition, sometime lots of activity occurs with little price movement, and sometimes there is lots of activity with exaggerated price movement. Does analyzing this tick action have some predictive value for a trade? Can this information be used to help with exit, stop, and possible entries? What are possible re-occuring causes for these changes in activity?

In analyzing the above what is the best time frame to use for your charts? Do you even need charts for intraday trading?

It may blow your mind, but there are very profitable intraday traders out there that don’t use charts. These traders are not always right, but an overwhelmingly large number of their trades are done with a positive expectation.

I hear my cell door opening. Got to go for another one of my therapy treatments. Good luck!

What cell door? Where are you housed right now?

 

[HurricaneUS]

@Baron do you mind forcing this guy Saltynuts to change his handle. I think it detracts from the entire forum. It's hard to take ET seriously when one of your posters is named Saltynuts....and believe me...he knows what it means

 

[manonfire]

I thought I put it above - in the paper trade account their bars on the chart would not automatically update. And when I tried to do it manually half the time it wouldn't work. Plus the prices shown on the charts were not the current prices - when I would place a market order I'd get a price WAY away from where it was shown on the bars. Yours might work just fine, could just be mine is screwy.

You don’t have real time data on you paper trade account? You claim to have a huge account at ib which should provide same real time data to your paper trade account. Equities and futures,cme/cbot bundles should be no more $10 a month with any activity.

 

[Saltynuts]

You don’t have real time data on you paper trade account? You claim to have a huge account at ib which should provide same real time data to your paper trade account. Equities and futures,cme/cbot bundles should be no more $10 a month with any activity.

I suspect I do. I posted twice my problems with the paper trade thing, not going to type them out again. But I spent literally 5 minutes in it before just going to my main account and trading 1 share, per recommendations here. So maybe it just needed configuring or something.

 

[Saltynuts]

@Baron do you mind forcing this guy Saltynuts to change his handle. I think it detracts from the entire forum. It's hard to take ET seriously when one of your posters is named Saltynuts....and believe me...he knows what it means

You ever been to a supermarket? Do you know how, when you go to the nuts section, they offer different varities of nuts, with some being "salted" and some "unsalted"? I am the former. So all I can offer you is my salty nuts. EAT MY SALTY NUTS!!!

 

[HurricaneUS]

You ever been to a supermarket? Do you know how, when you go to the nuts section, they offer different varities of nuts, with some being "salted" and some "unsalted"? I am the former. So all I can offer you is my salty nuts. EAT MY SALTY NUTS!!!

...and I rest my case....

 

[Slartibartfast]

If trading futures salty chocolate balls (We miss Chef) I would go for cheap commission, IB want a fortune to swing trade a futures contract I recall.

IB data is crappy, many traders use IB for execution but CQG data feed. But there are a lot of decent platforms, I know a three guys who average in the 2 to 4k a day range on Ninja trader and NT brokerage.

Top step trader is a valid route, they get sagged off a lot for being a hamster wheel but really at the beginning there is a lot to learn there. Just understand that there is a culture clash between Dunning Kruger effected short term scalper and DK swing traders. do both scalp and swing and it will pay off.