ES (Sim)

[boofis]

So I've been bothering and learning from the more experienced contributors on this forum, and others, for a while now and was encouraged by a fellow trader (CanOz) to step up to the plate of public scrutiny.

This is just a simulation account on the ES using Ninja, Jigsaw, and the recent bars of a 1min chart with one squiggly line on it.

I watch the market from 10:30pm till 1-2am'ish AEST.
Here's last nights trades.

NinjaTrader Trades Profit_Loss Report, 16_07_2012 - 17_07_2012.jpg

Lessons learned thus far:
*Losses got away from me on a few trades = bad.
*I don't like the feeling of being open all contracts w/out any profit secured, whoever said to sell some and wait with others makes me think they are right.

I start the night trading 1 and then work up to trading 4 contracts (Which is what I plan on trading if all the sim preparation works out ok.)

Will post up each successive night and see what happens over time.

[boofis]

Well that didn't go as planned: data issues (Couldn't get depth to show on DOM lol) = no trades to report back. All resolved now, but off to bed so will take two tomorrow night.

[tech/a]

Looks good from a risk view lots of close to b/e trades and just one that got away.
I presume your doing a T/H type methodology?

[boofis]

Looks good from a risk view lots of close to b/e trades and just one that got away.
I presume your doing a T/H type methodology?

Yeah, spot on Tech, this is pretty much solely based on things I've learnt reading T/H's threads and blog.

[tech/a]

Yeah, spot on Tech, this is pretty much solely based on things I've learnt reading T/H's threads and blog.

Never traded that fast.

How do you set your buy and sells and execute orders in seconds.
Is there a rapid buy sell funcyion in IB's software Im not aware of ?

Would love to know how you guys do it.
The fastest I can do it is around a mimute.
The speed of a Mammoth!

[Trembling Hand]

How do you set your buy and sells and execute orders in seconds.
Is there a rapid buy sell funcyion in IB's software Im not aware of ?

Would love to know how you guys do it.
The fastest I can do it is around a mimute.
The speed of a Mammoth!

Really? Booktrader, 1 click on the price you want and you have your entry with bracket TP & stop. IB DOM.gif

[Trembling Hand]

Lessons learned thus far:
*Losses got away from me on a few trades = bad.

Why are you not using the ATM bracket orders? Then your stops are set on entry.

[CanOz]

LOL, TH are you trading an account for someone else again??

CanOz

[CanOz]

Why are you not using the ATM bracket orders? Then your stops are set on entry.

I showed him this yesterday, so hopefully he'll have a play with it...

CanOz

[Trembling Hand]

LOL, TH are you trading an account for someone else again??

CanOz

I assume you are talking about the allocation being "gary"? hahah........ I have many friends

[boofis]

Why are you not using the ATM bracket orders? Then your stops are set on entry.

Yeah as Can said he informed me of this so will hopefully get a chance to set it up before tonight.

Tech, get yourself on the dom and you'll be surprised!

Forgot to mention aswell, relative to the market replay sessions, I struggle to get 'filled' with limit orders on ES when doing live sim. Not sure why, but am going to be perceptive towards that tonight also.

[Trembling Hand]

Tech, get yourself on the dom and you'll be surprised!

Nah his been telling us for 5 years its of no use!!!!!!!

[boofis]

Nah his been telling us for 5 years its of no use!!!!!!!

DOM has changed everything, I look at a 1 min chart now and just one bar holds so much activity and possibility where as I would've been looking for 2 or 3 bars before just to get a set up :\.
Whether that's right or wrong or whether I can be consistently profitable this way, as you are, is yet to be decided!

[Joules MM1]

Tech, get yourself on the dom and you'll be surprised!
...

keep encouraging........he'll be a kind in a candy shop

[boofis]

NinjaTrader Trades Profit_Loss Report, 18_07_2012 - 18_07_2012.jpg

Hmm learned a few lessons tonight!

I worked up to 4 contracts way too quickly and payed for it as I started trying to force trades too early.
Was playing around with ATM stuff at the beginning of the session and am happy now with a 4 tick SL on the ES.

Trying to take a portion of contracts at 2 ticks for 'security' then 1 at four if it looks to be moving in my direction still, or 2 contracts at 3 or 4 if dies off.

Interestingly enough using my gf's internet tonight and it was a fair bit slower which gave a very different feel to how things operate.

[Joules MM1]

NinjaTrader Trades Profit_Loss Report, 18_07_2012 - 18_07_2012.jpg

Hmm learned a few lessons tonight!

I worked up to 4 contracts way too quickly and payed for it as I started trying to force trades too early.
Was playing around with ATM stuff at the beginning of the session and am happy now with a 4 tick SL on the ES.

Trying to take a portion of contracts at 2 ticks for 'security' then 1 at four if it looks to be moving in my direction still, or 2 contracts at 3 or 4 if dies off.

Interestingly enough using my gf's internet tonight and it was a fair bit slower which gave a very different feel to how things operate.

are you scaling 1/2 then lifting stop to break-evens at that point ?

other lessons learned? specifically?

good effort, boofis

[tech/a]

Nah his been telling us for 5 years its of no use!!!!!!!

The only way to learn this would be to spend a week or so-- observing one of you guys trading this method
With narration from you of what you see or are looking for. ( For Me )

There is the making of a film ( educational ) there.

I'm certainly open to have a look.
But know it's not the only way to turn a buck in the markets you
Guys trade.

[boofis]

are you scaling 1/2 then lifting stop to break-evens at that point ?

other lessons learned? specifically?

good effort, boofis

Na, was kind of waiting to see if it went through the first two ticks then if it did would cancel the strategy and see what happened and just sell/buy at market (That's how I got my one bigger point win) Probably won't do that too much as it took a fair bit of time on a few trades when I was just waiting.

Learned
- Not to take a trade then go and say goodnight to the lady friend that was a poor idea lol.

-There were a few times when the easy to see trend pulled up and I read the trades wrong in there. So the next few days will be conscious of that.

- In terms of p/l if I had've had real money upsizing to 4 contracts would've killed me last night and I pretty much would've been at break even w/ commission at the end of the night as opposed to if those string of losers had've been one contract. Should've scaled back to 1 much faster upon losing multiple trades also.

- I feel most confident moving with the overall direction.

- Seem to be (Hard to measure) getting better at getting a market fill one tick away from the direction that I'm anticipating the move to head.

- Need to be careful on being 'greedy' e.g. one of the last trades I did, at one stage I could've had 6 ticks on the trail contract but 'wanted' 7 so had a limit order never get filled and ended up with 3 or 4 (I can't remember whilst typing this :\) as a result.


Tech, you're very right imo. I'm still trying to convince T/H to let me observe as I've no doubt there would be a book to be written about little things one can improve on after watching screen time. I bought John Grady's (No BS day trading) beginner stuff so that I could watch some video of someone using DOM after I'd read a bit about it and it's handy but the Treasuries he trades seem so so so slow after doing some time on the ES.

[Trembling Hand]

The only way to learn this would be to spend a week or so-- observing one of you guys trading this method
With narration from you of what you see or are looking for. ( For Me )

There is the making of a film ( educational ) there.

I'm certainly open to have a look.
But know it's not the only way to turn a buck in the markets you
Guys trade.

But how can you spend years rubbishing it without having a friggin clue that it exists? I mean seriously? Are you so all knowing in this game that you are able to discount what EVERY trader of size uses to execute their trades without even knowing what it is, how it works and why real traders use it? I gotta say Tech I am really dumbfounded!! Your words were 5 years ago and this is a quotes,

I've spent just as much time as anyone looking at depth and there is nothing in it.

I will sway to a degree about wheather or not one can take trade signals from it on higher time frames but as simply a platform to manage trades there is simply noway one can trade frequently or supply real demand/supply by using a order entry like TWS. it would cost $100,000s a year.

Some irony in you being a big fan of VSA and then rubbishing the tools that those who supply the demand use.

There is a reason why there is 13 DOM screens in his display and you are the one trying to follow him,
51a3864ed3ad604d2340c3f8fe249f94_M.jpg

[Trembling Hand]

- In terms of p/l if I had've had real money upsizing to 4 contracts would've killed me last night and I pretty much would've been at break even w/ commission at the end of the night as opposed to if those string of losers had've been one contract. Should've scaled back to 1 much faster upon losing multiple trades also.

Whats your thinking behind taking a two tick profit? You are trading the smallest of small moves, not much more than random noise.