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.

2.00 points $200.00...don't worry about it.

Is anyone having success with the 5B on the NQ?

quote:

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Originally posted by piperian

Is anyone having success with the 5B on the NQ?

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And, has anyone tried this with Trailing Stops?

I have been trading the NQ 5B for the last 4 weeks...Its done well, I have not tested it too far back. Its had 4 wins in a row this week. And also the EMD on the 30B has been doing well..its flat plus commissions this week though. And I am expecting gold 5B to do well next week.

quote:

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Originally posted by CharterJoe

I have been trading the NQ 5B for the last 4 weeks...Its done well, I have not tested it too far back. Its had 4 wins in a row this week. And also the EMD on the 30B has been doing well..its flat plus commissions this week though. And I am expecting gold 5B to do well next week.

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Hi Joe! Your extensive experience in the Mkt is always appreciated.
I've had great success with the 5B on the NQ for the last 3 weeks, but on the 18th I got KILLED.
How did you trade the 5B on the 18th this week??
I think I'm missing something.

Sharp piperian...I had something major to do tues and missed those 9:30 trade's. It was a 6 point loser, I should be more deliberate when posting, and not go so fast. I go from thought to thought to much...

check your email I have something for you.

Hi CharterJoe
Do you trade the 30B when there is news at 10:00 EST? If so how do you know which direction to place order? Thanks for all your great posts on this subject.

I do trade thru any news. As I don't even know when the news is coming out....I get biased on the news so I don't watch the news or financial news, numbers, ect

As for placing orders. What I do is send a limit order 1 tick above the high and one tick below the low. with stop profits/loss OCO orders sitting there. Once an order is hit I simply cancel the other order. In other words I don't wait for it to hit then send the order the order(s) are already in the marketplace.

Thanks for the quick response CharterJoe. Are you still trading the 30B with the same stop profits/loss targets? I trade the ES and TF using the 30B, but have never tried the 5B.

I trade the 30B in the ES, TF, with the same targets as when I started the thread.

(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