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.

Joe, Interesting technique. I have been using something similar for the last few years, only on the ES. The last few months have had fairly poor results for me so I put it on the shelf and have been trading the YM with a different technique.

How have your results been with this for May - July?

thanks, Sun

Not as good as the beginning of the year. The ZB (30 year bond) has been doing really well and the euro has been doing a bit better than the ES. I have been trading a basket of these TF, ES, ZB, 6E and others seems to pick up the slack of one not doing so well. Like the ES only netted me around $687 per contract after comm. and slippage this month. The Bonds did better than that last week, the Euro did batter in June. Its been a while since the ES has outperformed the others. It used to be a lot more $$$ wise, but I'm trading larger in the ES than the ZB I try to keep all the markets making the same based on a 3-4 week avg payout. As an ex. I am running 15 cons on the ES, 5 cons on the ZB, 10 on the 6E, and 5 on the TF. Were as in Jan-march I was only trading 4 ES making the same thing, Its making the same thing but paying more in slippage and commish so I am hoping its payoff will pick up real soon, and if not thats okay too...

dchfd,

No I just stick with the first 5min, I did some back testing and found out that it filters just as many winners as losers. I also did some testing with 3min and found that it works better on GC (GOLD) and stocks. I have a huge dry erase board with the 4 markets I trade this on. I would recommend anyone who is interested to do the same, because I can fell when a string of losses or winners is coming and you can adjust your size for money mang. I am getting this automated soon, still working the kinks out, and It will trade all liquid markets but 2 markets at 8:20 (6E, and ZB) and 2 @ 9:30 (TF, and ES) is all I can handle.

Thanks Joe. What stops and target are you using on the ZB? I may need to pull that chart back up. I used to trade it a lot but haven't even looked at it in the last 9 months or so.

quote:

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Originally posted by SunTzu

Thanks Joe. What stops and target are you using on the ZB? I may need to pull that chart back up. I used to trade it a lot but haven't even looked at it in the last 9 months or so.

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The stop/target is the same number of ticks as the first 5min of trading....8:20 is what my data providers is calling the first ZB print. A very strange time to start and it may not be the first print but it is working just fine thus far.

Friday it bumped my order and never took it. Hate it when that happens. But it was the +12 tick from the open ( see Bruce's pitbull thread) and it fell like a knife to the -12 tick from the open. Any ways other than the last trading day bonds have been doing good. Took a 9 tick hit friday, and in retrospect should have dropped it a tick...

I've had 6 positive days in a row on the NQ using Charter Joe's
entry/stoploss rules on the 5B doing this:
1st Bar Green? - Go long 1 tick above the High. Scalp it at 1 point less than the 1st bar's range.
1st Bar Red? - Same, just short it.
I'm "reading" the mkt a bit, sure, but it works.
If price goes below/above the 1st bar and stops me out, I have a 2nd opposite order riding shotgun with my stop loss to reverse me, because,
the mkt, way more often than not, will travel more than the range of the 1st bar and make up for a loss.
I haven't missed a call yet.
I need to learn to hang in a trade and get 75% of the 1st bar's range. That's my assignment for tomorrow morning.
I'm not trading size yet, but 2 points X 20 contracts is $400.
This stuff is amazing.

Are there any other active threads regarding this type of trading and setups?

Thanks

Joe,

Thanks for sharing this 30B/5B systems!
For 30B system on TF, the 2pt stop loss is off of high or low range prices or the actual entry price?

thanks,

xgesxg,

2pts off the hi/lo

quote:

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Originally posted by CharterJoe

xgesxg,

2pts off the hi/lo

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Joe, is that TICKS or whole POINTS?
(sorry for being so dense!)

(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