The transition to Futures trading

[Jasonm2310]

Tech I'll try to implement your advice providing the depth allows me. Sam - Mainly the currencies and ES. What's your style/preferred instruments?

 

[Wysiwyg]

That being the case, I reckon most Traders would kill to achieve your Scatter chart You obviously know your DOM

Nuh. See larger losses eats 4 or 5 wins. It's the ratio of wins to loss not necessarily the percentage wins that you want to see. It would be a loser in reality.

 

[barney]

Nuh. See larger losses eats 4 or 5 wins. It's the ratio of wins to loss not necessarily the percentage wins that you want to see. It would be a loser in reality.

Yeah I understand that Wys, but "J" said the majority of his trades go into profit almost immediately ..... The large losses are easily rectified if that is the case by running a tight stop .... The bottom line would increase exponentially with minor tweaking ....

I haven't seen too many scatter charts with that percentage of winners to losers .... If those results are repeatable on a regular basis, Jason would have to be a very accomplished DOM reader

 

[ThingyMajiggy]

Sam - Mainly the currencies and ES. What's your style/preferred instruments?

You trade currencies with a DOM? Like 6A, 6E etc? I'm mainly the DAX, only thing that fits my free time slot Where did you learn to trade from the DOM?

 

[Jasonm2310]

ThingyMajiggy - Yes currencies 6A, 6B, 6E, 6J. Still feel as though I'm not a highly proficient Depth trader as of yet but am quietly confident on a few patterns that seem to repeat themselves consistently. Started with the fundamentals of technical analysis, was lead to VSA (which I believe has a few reasonable principles). My Depth has come from watching the screen, free literature off Propex site, NOBSDaytrading and have recently become aware of a product known as Jigsaw trading in which i'm currently looking into. In saying that I'm only just breaking above even due to my larger losses than wins. Going to try and implement some sound advice that was given here.Thanks guys.

 

[Trembling Hand]

ThingyMajiggy - Yes currencies 6A, 6B, 6E, 6J. Still feel as though I'm not a highly proficient Depth trader as of yet but am quietly confident on a few patterns that seem to repeat themselves consistently. Started with the fundamentals of technical analysis, was lead to VSA (which I believe has a few reasonable principles). My Depth has come from watching the screen, free literature off Propex site, NOBSDaytrading and have recently become aware of a product known as Jigsaw trading in which i'm currently looking into. In saying that I'm only just breaking above even due to my larger losses than wins. Going to try and implement some sound advice that was given here.Thanks guys.

Why are you not using bracket orders to force you to stopout? Clearly from the size of the wrong trades compared to the winners you have no ability to manage trades that don't prove you a 'winner'. Possibly you taking 2 tick winners could actually be the same thing.

Is this sim or real $? Because you seem to be taking a method of trading Bonds that move 10 ticks a session to something that moves 100s of ticks a session. Imagine any gains you can build with two tick winners will be killed with brokerage and a bad week every few months.

 

[Jasonm2310]

Trembling Hand - It's a live account. You are correct I do have an inability to manage a trade, which is why I would like advice on how to possibly rectify this issue. To be honest I'm not particularly interested if an instrument moves 10 ticks or 100 ticks per session but just looking for that little pocket or pressure on the wall to trade. I do agree with some of the recommendations on here like Techs advice on pulling the trigger slower on positive exits and yours on placing brackets to force the exit, which would most definitely take out that element of mentally pulling the trigger. I suppose it's each to there own and in the end that's just what makes me feel comfortable to trade.

 

[Trembling Hand]

To be honest I'm not particularly interested if an instrument moves 10 ticks or 100 ticks per session but just looking for that little pocket or pressure on the wall to trade.

It is hard to draw much from such small sample size but you may have to look at the approach if you cannot tighten up the size of the losers.

There is a problem with taking a bond scalping method and applying it to something that moves 10 times as far. Its fine scrubbing around for 2 tick winners on something that moves like cold treacle because the book is so thick you have heaps of time to scratch the ones that go against you - greatly reducing your average loss. But something that moves much faster becomes impossible to tighten up on as it just sweeps through the levels before you have time to scratch your nose let alone your trade.

But like I said its hard too tell from only a few trades. You may have something that you can make work with a few small fixers. It also may be flawed due to the speed your chosen instruments.

 

[pavilion103]

This week could be important

 

[fiftyeight]

Hmmm missed that on the ftse.

I have been setting buy stops and stop losses, but was too slow on the trigger. Maybe a limit order if it is taking off and set the stop later

 

[pavilion103]

Failed short at 87. Out BE
Back in at 03.

 

[Jasonm2310]

Trembling Hand - Thankyou for your advice. If I were to tighten my stops and convert to Sim on this method for testing than how long would you consider before you believe it is a viable option to trade? I truly believe this to be an edge as it happens on so many instruments and with such an extreme accuracy rate too.. (almost without fail if the timing is right).

 

[fiftyeight]

Few little nibbles for a few points profit.

Long at 92

 

[kid hustlr]

lololol @ that bar wtf

 

[fiftyeight]

Haha anyone care to explain

 

[fiftyeight]

Out at 10, bed time is approaching

 

[pavilion103]

3rd and final attempt at 11, stop 15

 

[pavilion103]

Just the one contract. Stop to BE.
Off to bed.

 

[pavilion103]

Vital time on the FTSE.
Shortx2 @6799.5

We are at a level which has held a few times.
I'm hoping this can smash through for a big move. But stops to BE.

IF it comes off could be a great place to be in for the rest if the week. We'll see.

If not break even (again!!!)

 

[kid hustlr]

anyone got data issues?

pav whats the low of the day on the sep contract?