Ok I've gotta do that! Thanks mate. I'm not up to speed with this sort of stuff!
+1learning is what you really want to do. Here would be my steps to learning futs if I was to do it again.
Why are you convinced that you should be using a 3 min chart?
Why just the FTSE?
Never try and take a trade as a hedge..................... EVER!
Here's the tutorial on setting up IB with Amibroker.
http://www.amibroker.com/guide/h_ib.html
The symbols can be difficult to get right at times. Make sure you get the spaces or the dashes in the right place and they should work.
If learning is what you really want to do. Here would be my steps to learning futs if I was to do it again.
Spend some time learning basic NT (5 -10 hours)
Spend some money getting data from IB for SPI, Kospi, STW, Nikkei, ES, YM, CL, GC, DAX, FTSE and a few FX crosses. ($150 per month)
Set up NT each day to record depth and every tick for playback. (daily connect setup 5 min per day)
When you have some spare time each week spend it on the sim PLAYING on everyone of the above markets. Doing anything, putting on size, scalping, hanging on for a few hours, being in the market ALL the time etc etc(5 hours per week)
Then after a few months when you have had a good look at all markets and see how they are when they get wild and when they are boring as bat Sh!+ pick a few where you have some interest.
Then pick a few patterns that you think repeat in those markets and print them out and put them in a folder in sections, breakouts, wild starts, ranging, fake breaks, low range days, large range trending days etc...... What you want to do now is every day add to the folder whenever you see the same pattern in your markets.
With those two or three Markets and your growing collection of repeating patterns on the weekend and 1 or 2 day through the week put aside a few 2 hour blocks. Now here is the bit that will save you years and worthless side trips down the discipline road. Turn on NTs playback function. Set it to 10x speed and hit with all you have. Trade it seriously with 2 lots and don't kid yourself. Keep stats (which NT is good at) and really work on them. Win rate, R:R hold time etc. You will do 20 hours of intense trading and training in two hours. After a few months you will literately have years of examples played out in your head.
Actually I find the hours before the news are actually quite good to trade just don't hold any positions over the news periodBetter not to have positions before the news, unless you have a crystal ball.
Also, be very aware of high impact economic news of the day.
Actually I find the hours before the news are actually quite good to trade just don't hold any positions over the news period
If learning is what you really want to do. Here would be my steps to learning futs if I was to do it again. . . .
A seriously good post TH.
Set at 10x playback speed.
Agree +1 for those that want to trade like that.
I don't think its necessary. You can but --- you don't have to
Well that's been my experience.
T/H
You don't suggest longer time frame?
A position trade for an hr to a month?
Does everything have to be done in micro seconds?
Does everything have to be done in micro seconds?
You could be bored silly looking at the live screen for the next 3 years trying to forward test your ideas.
Why weren't you around 20 yrs ago!
The tools weren't either lol
Better not to have positions before the news, unless you have a crystal ball.
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