Mini I.B.

Set-up is VERY simple take the first 1/2 hour of RTH and if price trades above buy, and if it goes below sell short.

For mini Russell 2000 use targets of 2 points and a stop of 2 points.

For mini S&P500 use targets of 2.5 points and a stop of 2.5 points.

So far this March the ES has triggered 4 profits and 2 lossers or a gain of +$896.00 trading 4 contracts. It tends to perform better over a longer period. But the TF continues to outperform the ES month after month.
And trading 4 contracts in the past month would have yielded +$3150.00 on the ES

The TF on the other hand trading in the past month has yeilded +$6400.00 via trading 4 contracts

*these are actual results that counted my slippage but not comm.

Thanks Joe, Always good to share. I have a 70 page Ebook I'd be more than happy to send to anyone that would like to have it, it's about the trading method you just described... "Trading the 10:00 Bulls" by Geoff Bysshe I've never heard of Bysshe, but I liked the book & have snapped lines on the first 30 min high & low ever since reading Trading the 10:00 Bulls

Thats great Staylor,

I have been trading this for almost a year and was shocked to find that it yielded better results than the original 60 min IB. I too have never heard of Bysshe I did a search and found his e-book....


http://www.scribd.com/doc/7148326/Trading-the-10-OClock-Bulls-Geoff-Bysshe

I skimmed the e-book and he also talked about the first 5 min break out as a fact finding mission. I already know the the 30 min break works well with the stops and profits I already posted, so I'll start posting the first 5 min as well in this thread I see no need in starting another one. Well call it the 5min balance (5B) and 30min balance (30B)

I think what we should do is take the first 5 min and lets say that if range is (x) points then we will have a stop profit of (x) points and a stop loss of (x) points. I'll also run a study on a prefixed number.....so many systems so little time....

5B set-up number 1 (the size of the stop and stop loss are the size of the high and low of the first 5 min range)

3/09 +4.00 points
3/06 +4.00 points
3/05 +2.50 points
3/04 -3.00 points
3/03 +2.75 points
3/02 +3.25 points
2/27 -2.75 points
2/26 +3.50 points
2/25 -3.25 points
2/24 +2.50 points
2/23 +3.50 points
2/20 +3.25 points
2/19 -2.75 points
2/18 -3.75 points
2/17 -4.25 points
2/13 +3.25 points
2/12 -5.5 points
2/11 +3.25 points
2/10 +3.25 points
2/09 -3.25 points
2/06 +5.25 points
2/05 +3.00 points
2/04 +3.50 points
2/03 +4.00 points

Total +26.00 points or +$5,200.00 with 4 contracts (thats before comm at my rate of comm. your looking at 500 less) with a max draw down of 10.75 points.

*this is not enough data to come to the conclusion to trade this set-up. Traders should do there own homework to make sure that these results are correct. Also slippage was not taken into consideration on this back testing.

Also all these trades went in the direction of the break so a better strategy may be to scalp smaller profits. To me the draw down seems quite large. I want to back test this for at least six months before I start testing this. I will post the results here.

I wonder how money management could come into play on this. I mean when its up for 3 days peal back on cons when its down one day go 6 the next day then 8 if that days a loser....

Good thread! I have been tracking something similar with first 15mins and decided it had too much draw down and not a good enough risk/reward. I am now trying to tweak the plan to include pivots and gaps. Not sure how well it will keep me out of a trade or not. I am going to keep testing and will look at the 30min timeframe as well.

I know someone that use the first 5 mins with a couple stocks and he does OK.

Today the 5B generated a long at 693.5 and a target 697.75 and a SL of 4.5 points. The target of +4.75 was hit first...and since were trading 4 cons in this ex that was +$850.00...waiting for the 30minB now

Today 03/10/2009 the 30minB showed a profit of 2.50 ES points or +$500.00 And a total of +$1350.00 with both systems today.

I tried to edit the above post and could not. But it that exp. was based on 4 contracts not 1....

First of all, thx for sharing. It sounds like a pretty easy setup to follow. I'm watching your posts for further results and looking at that trade daily.

(duplicate post in "Mini I.B. vs 7am-9am Breakout" thread)

I have been a member of mypivots for a little over a year now, using the posts as a springboard for learning about the futures and currency markets – I’ve really appreciated the research and insight of so many of the contributors.

I’m now at the point where I’d like to begin systematically back testing one or two strategies for potential trading. I like the concept of breakouts (just finished Fisher, currently reading Crabel) – this thread and Charter Joe's 7am-9am GBP/USD Breakout thread are especially interesting in this regard.

I’d appreciate some advice from the folks here. The IB and 7-9 threads are now over a year old: do both concepts still perform reasonably well in live trading? If so, which of these would you recommend that I begin my back testing with:

1. The 30B
2. The 5B
3. The 7-9 currency breakout

I have a full time job so I need a scheduled window of time to trade in. I plan to trade single lots, primarily intraday. I am methodical by nature and prefer smaller, steady gains to wild gains… and wild losses.

Any thoughts gratefully received! Thanks.

Isaac