StevenSJC

Good trade given the days -- this week is so sideways since that Monday gap. I trade the TF more than ES and did get chopped up earlier today until I caught a modest short midday. Hoping we get something that breaks this 4 day range tomorrow.

I've seen these guys in the back pages of Futures Mag and other places for many years. Never really talked to anyone who uses/used their signals so I'm just curious. I have had limited success with real time signal services over the years. I've learned a lot more from a handful of courses I've purchased, some actually quite good. Signals, not so much. However, curiosity is getting the best of me if anyone has any feedback....

I used Version 1 of Triad and it was not impressive. Cannot say on the new one but no way it can live up to the hype they've given it. As to whether it is good regardless of that hype not sure. I think it's much better marketing than an actual course. Just my

I'm in...here's mine: Dow 10,963 S&P500 1,130 Nasdaq Comp 2,412 I'm praying all doesn't go to hell in a hand basket - whatever that means. So this is my 'things will get better' prediction in particular after the election even if it crumbles before.

I'll make this brief. I have been very satisfied with my experience with Velocity Futures and glad to see them on here at TL. The executions and speed have always been to my satisfaction and I use it through the Ninjatrader integration. However, there are several other platforms you can choose and they definitely cater to the higher volume traders. You'll see some really nice discounts as your volumes grow, but it's really no issue working with them if you're starting out as well from my experience. Daytrading margins are low, though I wouldn't suggest you max out with them since you'll probably be risking too much per trade. Sticks to the exchange margins to determine contract sizing I think. XTrader that they offer looks robust and there is a regular and a pro version I believe. Overall if you are a professional trader, or heading in that direction -- or thinking you'll be a very active part-time trader I think it's a really good choice.

Good point but I'd be on the side of the TF over something like ES. If margin is an issue with emini, the Dow e-Mini (YM) could be a good choice (prefer that over the Nasdaq e-mini) A nice thing with the TF though is you almost always get filled at your limit price if the market touches it, and the slippage is usually minimal. But probably need $7500 to trade. Probably can get by with less on YM. I used to really like the treasuries, felt they were great for beginner traders like the 30 Year (US) or Ten Year (TY) but I'll be honest and say I haven't looked at them recently - not sure there's enough range - but when there was they were super for beginners.

I'm not a practicing tax attorney during the day or on weekends so take this for what it is worth.....value undertermined....but, I've never had to record my trades on future or forex other than reporting the gain/loss for the year using the Straddle/Futures form on my tax return. No reporting each individual trade or mark to market, etc.... when I was a stock daytrader a long time ago it really stunk but have found for years that the tax reporting on futures and forex is quite easy -- you just need to be sure of course you report it. It will get taxed at both long and short term capital gain.

Well, imagine a lot of our guts are turning over of late as this market is starting to feel like one that could tank badly especially if there is another small rally - seems like everytime it gets off the mat it gets slammed. So maybe you're sensing the collective fear of the double dip. Anyway, unfortunately for me when I trade off of "feel" I usually end up opening my wallet up to the person on the other side of the trade and the broker. They tend to usually be happy about my gut trading system.....

Gotta say pretty good call on CMLS then given it's drop to 2.67 today. I see on my charts a short set-up as well but I wasn't smart enough to look at this until today so missed it -- hope you caught it Looks like 2.18 would be my stretch target.

Looks like this market has still been cranking. I missed a "lot" of good trades while I've been gone for a few days. Unfortunately I wasn't around to take some of these but you can see it is still moving very well for now - each target is a 60 pip move and its been consistent maybe grabbing a move every other day or so. Now that I'm back what do you want to bet the first trade stops out? Murphy's Trading Law at work....however, for now my sweet spot seems to be that 60 pip move or so.

Cuttshot Great points. One thing I like to do as well is keep an eye on ATr average true range. When it goes above average and the $Vix is up I know afternoon trading will be good. Not to mention the sweet spot you call out in the morning.

Good movement continues on the GBPUSD. Picked up a couple trades last few days -- today had a good short for 60 pips as indicated on the chart, followed a recent buy into that upswing. No telling if these really tradeable swings can last but while it does, it makes for predictable price action.

Pete, Famous traders using renko? Why me of course! Ok, all kidding aside not sure on that though I am someone who likes to trade a bit different than the pack. I look at it this way, probably 95% of the people who trade end up failing. Maybe it's worse than that. They almost all try to trade with the same indicators and use time intervals. So I'm usually thinking it can pay to be contrary to that opinion given the odds aren't good. The thing I like about renko are the charts are without noise. However, there are definitely going to be some things that are slow to respond -- since you get less bars indicators that take a while to do their thing won't be effective - I think it's most effective when you have price based strategies -- either looking for price based patterns, or using supports/resisitance, etc.... One thing you have to get used to is the fact that renko bars to not plot every move of the market. The reason is if you for example had the a 20 pip renko bar, and the EURJPY went from 109.80 to 110.00 you'd get a bar. But, let's say then it goes up to 110.16 then fades back down - it won't show that move above 110 unless it gets to 110.20 -- and it won't show another bar formed until it either closes at 110.20 or 109.60 -- as it has to go another 20 pips fully above or fully below -- like bricks being stacked up end to end. You need to make sure when testing/back-testing that you have entries that only end up at the high of your renko bar (or open of next) -- otherwise the testing can be faulty. So that takes a bit to get used to. Range bars are really cool as well and you don't have this issue above -- they are not quite as clean though as Renko but definitely have their place and I think respond well to most indicators and quicker than a renko bar would. I think time bars can work if you are strictly looking at price, breakouts, etc... I don't think they work well with indicator based strategies. Hope that helps a bit.

Thanks for posting your work -- I enjoyed looking at your charts and seeing your perspective. I tend to use Renko bars or Range bars more than time interval. I posted this trade in the GBPUSD thread: http://www.traderslaboratory.com/forums/f24/gbpusd-trading-8009.html#post98219 But here it is below - I didn't personally take it since I was already long GBPJPY at the time and my GBPUSD was closing in on a trade so felt I would be over-correlated..... Just noticed you posted some in the GBPUSD thread - cool, looking forward to checking out your analysis there.

My GBPJPY trade hit its +60 pips profit. The EURJPY trade I mentioned just above also hit 60 pips but I didn't trade it personally since felt I was over-correlated taking basically the same long one EURJPY/GBPJPY. I finally did get my long on the GBPUSD I've been waiting on and it went 60 pips as well as you can see on attach. EURUSD I got whipsawed in a long/short combo so not as fortunate there - usually I mostly do the GBPUSD but lately my EURUSD was so good I can't resist but it ended my win streak.

Got a long on the GBPJPY @ 131.85 going for 60 pips. Don't usually trade this one but set-up -- my GBPUSD set-up getting closer. I see EURJPY also flashing a long from 109.20 but had to choose between it and the GBPJPY

Welcome back pa18. We need more people just like you, serious traders looking for great trading discussion - it helps us all. My long on the BP Futures hit my stop at 1.4439 and I reversed to short there and took my exit at 1.4380 so I made back about 60 pips, though down about 20 pips in the exchange overall. Coming into that I had 5 winners in a row of 58 - 60 pips so I guess I was due and it isn't easy fighting the downtrend with a long. I'm still looking for my long on the GBPUSD spot currency -- at this point it's not close and would have to rally about 100 pips before I'd be thinking of a buy so just having to be patient. Same on EURUSD -- it's consolidating but waiting on a buy opportunity there.

Ok, I've gone long the June British Pound Futures @ 1.4539 looking for 80 pips. The spot currency, GBPUSD has not triggered yet for me on a buy but it's getting closer - right now looking at buying on the break of 1.4580 - still a bit to go to get there

Ok, I'll bite. I like to swing trade GBPUSD as well though really most of my trades are done same day. I go for 60 pip targets. I had a short trade this morning from 1.4600 (the break of - I don't like entering right on big round numbers like that so I adjust it to 1.4998) and it dropped 60 pips and I'm flat now for the weekend. It has gone down further, and I guess I could trail but I just like taking the fixed target. Lately it has been moving great -- see the image - but it's not always this hot (I wish) I only go long with a buy after a short so I'll wait until I get my set-up.

I'm running Tradestation and have it connected to Ninjatrader/Interactive Brokers. It has been suggested already that I give Multicharts a shot - which I'm planning on. In the meantime something happens with Tradestation that for me is kinda shocking - given they don't have a solution. They advertise all over about their strategies and how TS can auto-trade your strategy. What they don't tell you is if you lose your internet connection - maybe it goes down, maybe your wireless drops the connection with the router for a bit, or even the router hiccups -- that Tradestation will not automatically reconnect - in fact it will pop up the username/password box again. Which kisses goodbye your automated trading as it sits there waiting for a long -- which means you have to nurse it or you could be in for a shock. Now, at the time same time, Ninja and IB recognize that it goes down but both have no problem reconnecting as soon as the internet comes back online and it detects it -- haven't seen any issue with that. Called Tradestation - they say if the problem was on their server causing the disconnect it will retry the login but if it was on my end as described above - out of luck. Seems crazy that this is the answer - how can one auto trade and not be right there monitoring it with this answer? Anyone have a solution? Something that would alert me if it happens? Something that could log it back in? Thanks.

Great post. Fascinating interview. I'm not surprised to read that much of what the average retail trader thinks is wrong. Of course, some of this is "one man's opinion" but there are some gems in there. One for me is the statement about 99% of the books being worthless for him. Or all the various systems. But then he states several books clearly helped him. That it was his introduction to another trader in the beginning that made the all the difference. I think the message here, and from most traders I talk to that no, they did not do it on their own. That yes, they ended up chasing a lot of dubious strategies and system vendors but eventually they hit on one that made a big difference. Even if it wasn't 'out of the box' followed, the culmination of experiences plus hitting on the right book, training, software, etc... helped them turn the corner. I rarely read about anyone who has done it without any assistance at all. So I think it's trial and error. Once you learn not to chase those selling get rich quick, and instead chase the vendors who seem to be honest and balanced you start to make some real progress. That was how it is for me. To this day I get crazy emails everyday that I ignore, but on occasion I get something that you can clearly see was developed by an actual, real, live trader. Not some bogus marketing or curve-fitted EA. That's what I pursue to expand my knowledge. Plus boards like TL where you can learn from others as well. Thanks for sharing.

Great, thanks for heads up on that. Would you happen to know if multicharts can chart range bars or renko bars? That's fairly new to tradestation in 2010 and I like both a lot - not sure if Multicharts is doing same?

Really? I didn't know that Multicharts could do that. Learned something there. How is the datafeed for Multicharts? I know a few years ago I tried it and there were some issues with a stable feed - but it has really been a while. It might potentially be really cool to be able to use my same strategy that works in TS on Multicharts if it interfaces directly with IB.

I have a few thoughts on this. First, everyday in my inbox I'm pounded by sellers of EA's to autotrader the forex. To this day I've never met, talked or seen anyone actually be successful with any length of time with these. They just turn out to be overoptimized, curve-fitted marketing gimmicks. However, there's no denying that the sales pitch is awfully compelling. It really makes you want to yearn for a time where you could have the computer do your trading for you. I know in my "manual" trading I do use discretion, and I also make mistakes. It would be nice to have something where those mistakes are eliminated. Of late, I've been using a strategy inside of Tradestation, then using the email interface, it sends the trade into NinjaTrader and onto my Interactive Brokers accounts. Sounds slow in theory but it actually sends the order in a split second - certainly as fast as I could every manually enter it. There are issues though - keeping it all in synch. As much as I'd love to feel 100% comfortable going to sleep, or playing golf (I don't but that's how EA's are always advertised) I've had things happen that make that a little uneasy. I still do it, walk away that is but at times I comeback to a surprise. The strategy itself is fine, I trade it on Crude Futures and Dax Futures now and will look to expand into forex next. But, sometimes the strategy is "exectued" but no fill was received at the broker. Yet the strategy places exit orders -- and as you can imagine if you don't fill on the original order, you can end up out there hanging totally in the wrong way when it exits you -- but turns out that becomes an entry order when the initial order wasn't triggered. I've also seen times where Tradesation shows a price was hit, but for some reason it didn't trigger on IB -- and again exit orders get placed since it is trying to keep you in synch with the charts. Issues. Or, just yesterday I must have lost internet connection overnight -- TS will try to reconnect for a while but it must have been down longer than a few minutes and I came to the office and saw it was asking for logins again -- totally offline. So, while I feel automated trading at 100% accuracy (not trade success, I just mean following the trade strategy) is possible, I do think there are a lot of issues that makes it difficult at times to truly believe in 'set it and forget it' At the same time, I'm committed to making it work because after years of manual trading it takes a toll and I'm a big believer in my strategy -- and really want this darn computer to do what it is told

I posted something similar in the Forex thread, but since I trade futures as well, I though it made sense to discuss this here as well. My question is -- have you determined the very best hours in the day to trade futures, market dependent I realize? I know in my trading it has shocked me how different the results can be using the very same strategy, at different times during the day. There are pockets of time that are quite profitable, and literally an hour later the same exact approach could be a total dog. For example, I have traded Crude Oil Futures quite a bit and realize that from about 8:50am EST (New York) to 10:30am is the sweet spot. 10:30 to 11:30 is "ok" but definitely the results fall off -- and if I have some success in the 8:50 -10:30 zone I should stop trading after I hit some objective -- because the good trading conditions seem to be immediately followed by a consolidation - many times I quite just in time. Curious if any of you experience similar? I know when I've traded the Russell e-Mini if I started exactly at 9:30am EST I did FAR BETTER than literally starting just 5 minutes later at 9:35. I always though it was better to wait right at the opening but turns out that was wrong advice - at least in my trading. How about you? S&P? Dax? Nasdaq futures? The good news is I think we can find ways to spend a lot less time and make more money -- if we can have the discipline to just s-t-o-p trading - and that's a whole other topic :crap: