The Chimp`s new "Futures Scalps"

[cattus 10]

Hi walter and all the crew here!

 

Congratulations to you and to the most active guys that help you to develop your strategies. It thread looks like a great variation of the concepts you are teaching us. :thumbs up::thumbs up::thumbs up:

 

And thanks Soultrader to maintain this site working! :thumbs up::thumbs up::thumbs up:

 

 

I have a question and I also need some help with the NinjaTrader:

 

Walter, are you development this strategy only to trade futures? I don't think so. I guess all you are talking about here could work in forex or other markets. Is it not?

 

By the other hand, after some time to understand the basics of NinjaTrader, now I can see the charts you were talking about, and they looks great. I know that Metatrader have a lot of coders, but the main problem is the tick bars, bad thing for the users of MT4, like me. :doh:

 

Question: What do you talk about bars of 22 ticks? Why don't 21? or 35? I mean, Fibonacci numbers.

 

Ninja and Forex.... I visited the forum of NT and the administrator say that NT only works with GAIN capital data, and they are working in order to connect the NT with others brokers or data sources. But I understood that NT works with forex data in a free form (other data sources). Any of you know if NT works with free forex data? If yes, how can I make that NT works with forex data (no GAIN Capital)?

 

Thanks in advance.

 

Saludos.

 

Agustín

[PYenner 10]

Hi Cattus

 

Volume is best studied on a volume chart, not on a time chart.

NT has the volume charts and the programming language for indicators.

 

But so far NT seems to have only one source of free live forex data, Gain.

So it would be nice to be able to export market data from MT4 into NT, but don't know how that might be done.

 

What Walter has seen on Gain is that market makers are throttling ticks, prices dont follow the market, its one more way they can make more profit and we make less, it really works against scalpers hardest. I am seeing the same thing happening on the MT4 sources I have used for ages. So it is not just NT it is everyone in forex, conflict of interest. The only NDD I looked at, Hotspot, was doing the same thing and that really disappointed me.

 

It isn't just as easy as exporting live tick data from MT4 to NT, NT uses a patch to give each company the type of throttling they ask for. So it would need knowledge of how to write such a patch in order to make one for fetching data into NT. NT are not likely to tell as how to modify their patches.

 

One alternative is excel but that is unfriendly compared to what is available on trading platforms.

 

Another is to simulate volume based charts in MT4 and superimpose them on top of price charts. But that is also difficult and primative and why do all that work when NT have already done it for us.

 

Our needs seem to be a few years ahead of what is available.

 

NT is mainly a futures platform at this stage. Trading Technologies has a futures demo account that doesn't expire but I don't know if prices are real time.

 

At this stage to looks like work on volume needs to be done on futures markets, not on forex, simply because NT has futures and volume charts.

 

Maybe futures are also tick throttled, it seems likely but I dont know, only traded fx so far. More questions than answers...

[walterw 10]

Hi walter and all the crew here!

 

Congratulations to you and to the most active guys that help you to develop your strategies. It thread looks like a great variation of the concepts you are teaching us. :thumbs up::thumbs up::thumbs up:

 

And thanks Soultrader to maintain this site working! :thumbs up::thumbs up::thumbs up:

 

 

I have a question and I also need some help with the NinjaTrader:

 

Walter, are you development this strategy only to trade futures? I don't think so. I guess all you are talking about here could work in forex or other markets. Is it not?

 

By the other hand, after some time to understand the basics of NinjaTrader, now I can see the charts you were talking about, and they looks great. I know that Metatrader have a lot of coders, but the main problem is the tick bars, bad thing for the users of MT4, like me. :doh:

 

Question: What do you talk about bars of 22 ticks? Why don't 21? or 35? I mean, Fibonacci numbers.

 

Ninja and Forex.... I visited the forum of NT and the administrator say that NT only works with GAIN capital data, and they are working in order to connect the NT with others brokers or data sources. But I understood that NT works with forex data in a free form (other data sources). Any of you know if NT works with free forex data? If yes, how can I make that NT works with forex data (no GAIN Capital)?

 

Thanks in advance.

 

Saludos.

 

Agustín

 

 

Hi Agustin... what I am basicly sharing can be apllied in futures and on forex as well... maybe in forex you will have what Bruce just comented , some undesired noise on the data that will not benfit forex scalping, thats why sometimes on forex would be recomendable to trade little more longer timeframes...

 

Here the "pattern concepts" is what counts... then the aplication into the trading should finally be adapted into the traders most confort zone...

 

22T ? mmmm ... the origins was a 1/5th of 110T...

 

on NT create a forex conection with Gain (already on the soft ) and check NT historical servers also, you will get forex data there for free...

 

Take care Agustin ¡¡ cheers Walter.

[walterw 10]

Hi Cattus

 

Volume is best studied on a volume chart, not on a time chart.

NT has the volume charts and the programming language for indicators.

 

But so far NT seems to have only one source of free live forex data, Gain.

So it would be nice to be able to export market data from MT4 into NT, but don't know how that might be done.

 

What Walter has seen on Gain is that market makers are throttling ticks, prices dont follow the market, its one more way they can make more profit and we make less, it really works against scalpers hardest. I am seeing the same thing happening on the MT4 sources I have used for ages. So it is not just NT it is everyone in forex, conflict of interest. The only NDD I looked at, Hotspot, was doing the same thing and that really disappointed me.

 

It isn't just as easy as exporting live tick data from MT4 to NT, NT uses a patch to give each company the type of throttling they ask for. So it would need knowledge of how to write such a patch in order to make one for fetching data into NT. NT are not likely to tell as how to modify their patches.

 

One alternative is excel but that is unfriendly compared to what is available on trading platforms.

 

Another is to simulate volume based charts in MT4 and superimpose them on top of price charts. But that is also difficult and primative and why do all that work when NT have already done it for us.

 

Our needs seem to be a few years ahead of what is available.

 

NT is mainly a futures platform at this stage. Trading Technologies has a futures demo account that doesn't expire but I don't know if prices are real time.

 

At this stage to looks like work on volume needs to be done on futures markets, not on forex, simply because NT has futures and volume charts.

 

Maybe futures are also tick throttled, it seems likely but I dont know, only traded fx so far. More questions than answers...

 

 

Thats the reason Bruce I finally end up on a little more longer ranges for forex trading... as you comment, forex scalping can get tricky with this data smokes... on my futures experience did not get that type of problems...

 

The "setuping" on 5 min its probably the fastest scale that gets more reliable data to be used... then lowering to very specific timings scales should be aware of this data issues... :doh: cheers Walter.

[cattus 10]

Hi PYenner.

 

I always have listened that in forex market the volume is not important, because it is a noncentralized market. This affirmation could have the consequence for some of us to forget the volume concepts for work with them in forex trades, but, I have always thought that the source of the forex data is a good sample of the universe of data forex, and for that reason I believe that the volume into the forex data is a good element in order to consider it in my analysis.

 

I commented this because your opinions, PYenner, are very important for me.

 

Thanks.

 

Agustín

[cattus 10]

Hi Walter. Thanks for your answers.

 

I am very new in the use of the NT, I will try to do the connection you are talking about with Gain.

 

 

I understand all your comments and the PYenner comments about that the noise in the forex market (any source of that noise) affect our intention to do scalping into the tick or second charts. But, like the futbol players adapt their talents to play in different conditions (fields of grass, carpet or sand), I think that a scalper must adapt its techniques to do businesses in different market conditions.

 

Yes, the patterns that you have been teaching us are more easy to recognize in the 5 min charts (Forex), but with a little more difficulty we can see that patterns in a 1 min charts.

 

And I think that we can do scalping (forex) in the charts of ticks with a specific technique. I mean, may be we can follow the develop of a crossing of Hull moving averages, or to follow the develop of the CCI T3 indicator. I do not know, we can find this with your valuable aid... well, I think this.

 

Salu2.

 

Agustín

[walterw 10]

Hi Walter. Thanks for your answers.

 

I am very new in the use of the NT, I will try to do the connection you are talking about with Gain.

 

 

I understand all your comments and the PYenner comments about that the noise in the forex market (any source of that noise) affect our intention to do scalping into the tick or second charts. But, like the futbol players adapt their talents to play in different conditions (fields of grass, carpet or sand), I think that a scalper must adapt its techniques to do businesses in different market conditions.

 

Yes, the patterns that you have been teaching us are more easy to recognize in the 5 min charts (Forex), but with a little more difficulty we can see that patterns in a 1 min charts.

 

And I think that we can do scalping (forex) in the charts of ticks with a specific technique. I mean, may be we can follow the develop of a crossing of Hull moving averages, or to follow the develop of the CCI T3 indicator. I do not know, we can find this with your valuable aid... well, I think this.

 

Salu2.

 

Agustín

 

 

 

Thanks Agustin for this comentaries... the chimp will be out for some 15 days now in terms of forex... he will be working on his final presentation (new thread) where he intends to make a very clear presentation of his forex method wich he will stick in his forex trading... so for the sake of not leaving without any postings this days, I will be posting my futures scalps with this little method .... after that I will not post more futures charts, do new forex thread and post consistently my forex trades... thats my agenda on TL right now.... cheers Walter.

[cattus 10]

Thanks Agustin for this comentaries... the chimp will be out for some 15 days now in terms of forex... he will be working on his final presentation (new thread) where he intends to make a very clear presentation of his forex method wich he will stick in his forex trading... so for the sake of not leaving without any postings this days, I will be posting my futures scalps with this little method .... after that I will not post more futures charts, do new forex thread and post consistently my forex trades... thats my agenda on TL right now.... cheers Walter.

 

Hi Walter.

 

I understand. I will follow your new works as you mentioned.

 

Thanks.

 

Agustín :thumbs up:

[walterw 10]

One thing I had been looking today is how you can time entries and exits with the green/black lines of our nice clean chart...

 

 

on some situations it will call fore some tight stops, but look how nice large exit keeped you inside all the way down...

 

 

some other trades

 

 

 

 

so, cant be more simple uhu ?? cheers Walter.

[Armand 10]

One thing I had been looking today is how you can time entries and exits with the green/black lines of our nice clean chart...

 

on some situations it will call fore some tight stops, but look how nice large exit keeped you inside all the way down...

 

so, cant be more simple uhu ?? cheers Walter.

 

Walter...are you looking for the cross of the green and black lines right after they pass above or below the magenta? Or is it after any vmar icon? Or both?

thanks...Armand

[walterw 10]

Walter...are you looking for the cross of the green and black lines right after they pass above or below the magenta? Or is it after any vmar icon? Or both?

thanks...Armand

 

Yes Armand... I try to trade on the right side of the magenta... centrifugal... cheers Walter.

[walterw 10]

And a video here... must confess, very confortable chart... cheers Walter.

Some scalps.swf

[Armand 10]

And a video here... must confess, very confortable chart... cheers Walter.

 

Thank you, Walter...once again the video is very helpful...Armand

[walterw 10]

Thank you, Walter...once again the video is very helpful...Armand

 

 

Thats great Armand... I am testing today a nice counter divergence scalp trade using BOP (Balance of Power)... that combines divergences with M`s as well... will post tonight... cheers Walter.

[walterw 10]

Hello my dear fellow traders ¡¡... this week so far its being a wonderfull one... normal scalping routine and great research as well ¡¡

 

 

Yesterday I shared the centrifugal trades, trend trades, on the correct side of the magenta line... so let me start sharing some similar examples from today... as we had some news today, I waited until the news where released at 10 am NYT... then started to scalp... (on my chart 10 am nyt is 12 noon)

 

on this case I share the oscillator based scalps, wich sometimes may put you in an overtrading scenario... key here is to shoot for very small profits on each trade... you may want to compare how the green/black lines overperformed on many times, calling for less trades and much longer exits...

 

 

 

 

 

 

 

this is what I would call a real noisy scalping... not suited for everybody, demands speed on your part to close as soon as you get an exit signal...

 

 

now on my next post I will share a very nice counter trend type (refresh) M type trade scalp that works very nice to scalp as well... cheers Walter.

[walterw 10]

I am testing a series of indis from NT... there are some nice ones...

 

a nice indicator that shows very small lived divergences is BOP (Balance of Power) you can read here how it works http://www.linnsoft.com/tour/techind/bop.htm

 

so the idea here is to make some waves to the outside first... and then start looking for BOP divergence for a flash M trade scalp...

 

 

for timing I am testing some new things as well... but for the sake of introducing this, lets say that a 0 line cross of fxst3cci makes a more robust entry...

 

 

 

 

 

So thats a way to take some more confidence to trade M`s ... refreshing back to the magenta line...

 

If the Divergence is more clear, the more effective may be the trade...

 

Its scalping, in and out quick... cheers Walter.

[cattus 10]

Hi Walter.

 

I didn't have any news for this morning (10 am NY time). To what news are you referring on the previous post (66)?

 

And... I have a question about the news... usually it is recommended that (for day traders) we must wait at least 15 minutes after the news, in order to don't trade on the crazy moments. But I believe that like a scalper it could be different. What can you tell us about this topic?

 

 

I attached a pic with comments on a chart of your examples. I see another divergence and I would like that you confirm it. Could you please do it?

 

Salu2.

 

Agustín

[walterw 10]

Hi Agustin... the news we had today was this :

 

2007.11.13 10:00 US November Consumer Sentiment n/f 47.3 43.8

 

Nice divergence there... now I am not looking actually into the cci`s divergences myself... can get tricky...

 

I attach video of this trades... they actually are False Break M`s with a nice view of the BOP divergence for some more confidence... as all counter trend trades, if momentum is there you will get stopped... so on very strong momentum conditions this trades should be avoided... cheers Walter.

False Break M with BOP Divergence Trade Scalps.swf

[Armand 10]

I attach video of this trades... they actually are False Break M`s with a nice view of the BOP divergence for some more confidence... as all counter trend trades, if momentum is there you will get stopped... so on very strong momentum conditions this trades should be avoided... cheers Walter.

 

Thanks Walter..that video really cleared up the BOP...great job! I want to add this indicator. Does the BOP only need the setting of 14? Thanks...Armand

[cattus 10]

Hi Agustin... the news we had today was this :

 

2007.11.13 10:00 US November Consumer Sentiment n/f 47.3 43.8

 

Nice divergence there... now I am not looking actually into the cci`s divergences myself... can get tricky...

 

I attach video of this trades... they actually are False Break M`s with a nice view of the BOP divergence for some more confidence... as all counter trend trades, if momentum is there you will get stopped... so on very strong momentum conditions this trades should be avoided... cheers Walter.

 

 

 

Hi Walter.

 

Great video, Walter, great video like all the other videos yours. Thanks for your teachings.

 

I do not know what happened with the news that you mention here, but I can not find that new in Forex Calendar, Briefing.com and Econoday.com

 

Please, do not forget to comment us your rules to trade after the news. Do you do scalping after one minute of the news? Or, do you wait for a few minutes after the news in order to start to scalp? How many minutes do you wait in order to scalp after the news?

 

Thanks again.

 

Agustín

[walterw 10]

Thanks Walter..that video really cleared up the BOP...great job! I want to add this indicator. Does the BOP only need the setting of 14? Thanks...Armand

 

 

So far I tested it on 14 and looks good... smaller may get tricky, larger may not show on time divergences... its nice to take m`s looking at this divergences too... cheers Walter.

[cattus 10]

Hi guys.

 

Does someone has the Balance of Power indicator for MT4?

 

I will appreciate your help.

 

Thanks in advance.

 

Agustín

[walterw 10]

Hi Walter.

 

Great video, Walter, great video like all the other videos yours. Thanks for your teachings.

 

I do not know what happened with the news that you mention here, but I can not find that new in Forex Calendar, Briefing.com and Econoday.com

 

Please, do not forget to comment us your rules to trade after the news. Do you do scalping after one minute of the news? Or, do you wait for a few minutes after the news in order to start to scalp? How many minutes do you wait in order to scalp after the news?

 

Thanks again.

 

Agustín

 

 

Thanks for your compliments Agustin...

 

I use http://www.forexnews.com calendar... if its a heavy impact news I dont scalp before the news, and start scalping maybe 3-4 minutes after... the minute of the news and the 2nd minute of the news are characterized by super large market orders that make very crazy moves... once thats over you are in shape to trade... (this is for futures scalping)... forex is diferent and even futures daytrading may be diferent as well... hope this answers Agustin... cheers Walter.

[cattus 10]

Thanks for your compliments Agustin...

 

I use http://www.forexnews.com calendar... if its a heavy impact news I dont scalp before the news, and start scalping maybe 3-4 minutes after... the minute of the news and the 2nd minute of the news are characterized by super large market orders that make very crazy moves... once thats over you are in shape to trade... (this is for futures scalping)... forex is diferent and even futures daytrading may be diferent as well... hope this answers Agustin... cheers Walter.

 

Sure, you answered my questions.

 

Many thanks, Walter. :thumbs up:

[scJohn 10]

Walter,

 

I see you use a tick interval. Do you prefer tick charts over volume charts?

 

Thanks