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WorldTrader
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Everything posted by WorldTrader
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Method, I will show all trades this week on the CL and the other markets. We need to get you winning one way or another. If it is the method, strategy or the trader. There are many sucessfull traders here and someone should be able to get you going.
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Method, My system is very mechanical. There is the 10% art, in adjusting the entries or stops, but I have a set of rules in my trade plan that can filters out some trades. However, I stick to those rules, which makes it mechanical. If I find that, a particular trade is not working out I can change the plan and add a filter, say taking trades against the trend or not taking re-entry trades. Is that as clear as mud:)
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I was refering to your Multi Charts code on the Half Gap. I didn't know if it was programmed for TS. Platform: MultiCharts Rating: Licence: User defined Released: 03-30-2010 Last Update: Never Installs: 4 Re-useable Code Translations No support by the author. Half Gap description: this indicator would draw a line half way between previous day's close and today's 1st bar open e.g. gap up opening: prev close = 100, today's open = 102 a line will be drawn at the half way point 101 gap down opening: prev close = 100, today's open = 98 a line will be drawn at the half way point 99 if the day's open is the same as previous close, a line will be drawn at the previous close
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Tams, Thanks, I saw the reference on TOS. I also use Tradestation. I assume that there is no strategy for that in TS? Is MultiCharts free, I have never used them? Just Meta, Ninja and TS and TOS.
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Dino, I fogot to ask, what time do you trade CL. Just the mornings, all day or the afternoons?
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Dino, Thats why I don't use Time charts. I want to catch the move with volume or price action. I wish I had traded the afternoon, but my system caught it. I only had about a minute and a half to catch it after the short.
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I have not looked at it on the ES, but it seems in Forex it always fills right away. So, this is a good Sunday night strategy. Also, I have seen where two pairs, say the EURUSD and the GBPUSD, which are highly correlated, one gaps and the other does not. You can bet that the other pair will move as if it gapped. This gives you 2 chances to make money on the same gap. I welcome others thoughts on this. Wish I could program someting to give me backtest results on this.
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Jay, Welcome. How is that going? What sort of win loss rate to you have and about how many pips is your average trade?
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U.S. To Hit Traders, Money Managers With A Tax Shot To The Gut
WorldTrader replied to brownsfan019's topic in General Trading
Speaking of Taxation, I am going to move my IRA to Roth IRA. I can have them take out the taxes now or pay in the next 2 years. Has anyone done this yet. I would like to keep the trading capitol large so not to pay the 25% now, but otherwise I have to pay in cash over the next 2 years...did I mention CASH. -
Cutt, You can keep that broken recording going and going. It is nice to hear that your system or strategy is doing well. Keep us posted. I just wish I had time to trade the NQ along with the 3 other markets I am doing. Maybe I should swing trade it.
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Introduce Yourself Here - Don't Be Shy!!
WorldTrader replied to trading4life's topic in Beginners Forum
Jonathan, I guess in a way it can decrease the risk. It is certainly a fixed risk. So, you can only lose what you pay for the option. If you trade a Futures contract or a spot currency or a stock. You can have a limited risk with the use of a stop, but then you can have slipage or if you are holding while the market is closed..you don't know where it will open back up with a large gap and you can have a greater loss. I think the beauty of options is that you can trade large priced stocks with much less money or contol more shares with less money. This way you can have a higher percentage return due to investing a small amount of funds. So instead of buying 1000 shares of AAPL for 266K, you can buy 10 options for 18K and if the price goes up $10 you will make 10K on the 266K or 10K on the 18K. The problem is if AAPL goes down you will lose some or all of the 18K. You will lose some of your value on the 266K shares, but you still have the shares and you can hold them till they comeback or sell at a loss. Anyway, I am sure there is an option thread or you can start one. There are smarter options folks out there. I just gave you the simple overview. -
I look the last Hour for trading the ES or NQ or DOW. With CL you can start early. Here are the last 2 trades of the day 24 Cents each! I will start tracking it. I am not able to trade the afternoon every day, but I can at least start a spreadsheet I will share.
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Introduce Yourself Here - Don't Be Shy!!
WorldTrader replied to trading4life's topic in Beginners Forum
Jonathan, I was looking at using Options for the earnings plays. It worked out well a few months ago, but I got burned on a Goog option. Oh well, so I am back to trading my system on stocks. Do you use Options at all or just buy the stocks? -
There are too many picutres in that book, but it looks interesting. I will have to give it a read when I am on a plane with some free time.
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Erie, Thanks, I just went to the chat room. I will check it out on Monday and see how many are there.
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Avalanch, It is my understanding that a Share Bar is the same thing as a volume bar or CVB. It measures shares or contracts just like volume. If I am wrong, someone will correct me. I use range bars personally. It is all about price, but volume is a great indicator of the momentum of the move.
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I am just joining this thread. What are all of the markets people are posting and trading? I saw the Dow with FIrewalker. Is that the main one. I can post some swing trades on the Dow..day trading might be too fast.
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Re: Best Times of Day to Trade the Futures?
WorldTrader replied to tjnoon's topic in Ultimate Trade Analyzer
Am, Yes and it is fantastic. I will give everyone the spreadsheet. It has had5 more winners since the last update on 6/21! I want a robot for this one...and I hate robots. The file is too big I will have to split it up or just give you all the latest trades. I think there is a GC thread. -
I was on the road, and forgot all about FOMC Day. I traded in the morning and did well with a one and done. I have seen it quiet the past few FOMC, with no suprises, but this one they did not like the wording so, got some great movement. Looks like I will have to catch the next one.
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One Big Screen or Multiple Smaller Screens?
WorldTrader replied to daveyjones's topic in Tools of the Trade
How can anyone look at all of those! I just added another 24 inch, got it at compusa 24" viewsonic $189. A nice monitor. -
I echo the same feelings. Say very nicely, that you can't and don't want to trade his money. Tam's gave you some great reasons. You will be mentally worried on every trade, more so than usual. If it is a loss your friend will be mad. You will pull profits too quick and let your losses run...there goes the account. Just not worth it. Have him look for a good managed fund with good results.
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Pick, I have not heard of them. How much is their system? Do they have a free trial? Do they have live trade rooms to learn it? What is their Win rate and typical R to R on their trades? These are some of the key questions to ask.
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Am, The rebalance is This Friday. I feel your pain on trying to predict the market and letting that influence my trading. I was sure it was going up with the strong morning, but I am almost always wrong on my "thoughts on where it will go". So, I just stick to the strategy and plan and take the next trade in the direction it tells me. I may not win today, but I will in the long run! GO NQ!
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PA 18, Great post, thanks! I called a trade the other night and it hit it's target. Here is the post and the chart. I hope to have a few more. Your trade was better! Optional GBPUSD Long 1.4842 Stop 1.4748 T1 1.4968 one Target
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Method, You need some help. I am not sure where to start. First, have a solid trade plan, if you don't tak trades against the trend then don't. I had a rough week last week, but so far my trade from last night hit target. I have two more for tonight. Here are my trades from last night and tonight. My win rate is around 69%. Tonights trades This USDJPY long will probably become a short if the market moves down in the next few hours. USDJPY Long 91.52 Stop 90.97 Target 9197 GBPJPY Short same as last night 133.84 Stop 134.66 Target 133.31 Last nights one no trigger and one hit target. I am going for smaller trades with Summer GBPJPY Short 133.84 Stop 134.66 Target 133.31 EURCAD Short 1.2618 Stop 1.2672 Target 1.2582