/ES Futures Trading Strategy on ThinkorSwim

[blakecmathis]

@Zulu_Trader Could be bullish or bearish man. Watching for breakout below or above triangle. Enter on first pull back outside of the tri range.

 

[blakecmathis]

FOMC rate decision in 8 minutes. Stay frosty.

 

[trademics]

Been following along here- awesome stuff guys and thanks for sharing.

 

[blakecmathis]

Wasn't going to watch this happen three days in a row

 

[Talochka]

Wasn't going to watch this happen three days in a row

Are you making your trading decision solely on these 3 charts?

 

[blakecmathis]

Correct. The only time I use the 30m is when gigantic 20-30 point swings occur.

 

[RickK]

Hi Guys: Brand new member here, although I've been following this thread for about a month.

Thank the tick gods (particularly @blakecmathis, @skynetgen and others) for this fascinating thread. I have found that it has completely turned around my trading lately... 4 green days last week until I got stupid with the chop on Friday.

Anyway, I don't want to be presumptuous (so you have my advanced apologies), but I think I've seen a unique phenomena that I don't think has been addressed here and would like to contribute it to this thread. It is definitely a scalping strategy, where a trader 'could' be in and out on the same tick candle (with 3 -6 handles [/NQ] in their pocket).....or in til the trend reverses (many candles), who knows. Problem is, my analysis is rather long........ I mean pretty damn long (like 3 written pages and that doesn't include the chart images). And I don't want to irritate the group here before I ask if posting something this long is acceptable. I'd sure like it to be considered and tested by others to see if it has consistent merit. For me (over a 5 day backtesting period including premarket/postmarket [not live trading]) this 'phenomenon' resulted: of 66 triggers, 48 wins (of at least 3 handles, max 12 handles [note: I trade /NQ]), 15 no trades, and 3 pure losses.

Thanks for your consideration.

 

[blakecmathis]

@RickKennedy Could you put in a google doc and post the link? I'd like to check it out man

 

[RickK]

@blakecmathis ..... sure thing! Thanks! I've got it written in my trade journal and will be able to type it up after trading in the morning. That's a good way to handle it. I think I can put chart images in there as well. Sorry, I'm a hotmail.com guy (but have a gmail account) and never really used Google docs....but I'll figure it out.

 

[blakecmathis]

@RickKennedy What does this phenomenon entail? What type of orders are you placing, limit or market? Is this an automatic buy/sell or a manual entry? What indicators/studies are you using (if any)? These are just a few of the questions I have man. You can place images directly in this thread dude!

 

[RickK]

I gotta log off right now, but here are some quick answers to your questions. Placing market orders....manual entry when certain conditions are met. This is completely your 1000t/2000t setup with the RSI-FE system and the CCI/ATR on the 2000t with a few added moving averages on the chart. I find that when the FE is in a very specific spot, as long as the thumbs up comes from the 2000t, it is a 'go' trade. Much much more detail tomorrow. Thanks for your interest. I hope I'm not just blowing smoke here. Yes, definitely best if you take a look at it on a google doc and let me know if it holds water or not before I possibly embarrass myself in front of the group.

 

[skynetgen]

@blakecmathis ..... sure thing! Thanks! I've got it written in my trade journal and will be able to type it up after trading in the morning. That's a good way to handle it. I think I can put chart images in there as well. Sorry, I'm a hotmail.com guy (but have a gmail account) and never really used Google docs....but I'll figure it out.

observation whether "right" or "wrong" are always interesting and often valuable. This is precisely what community is for

 

[HighBredCloud]

@RickKennedy following...to this day I have a tick chart to the side next to every stock that I trade...not quite as high as 1000Tk or 2000Tk as for the stocks I trade its all volume dependent but the range is from 89Tk to 987Tk...So I would LOVE to see what strategy you have and how it compares to mine...

 

[RickK]

@blakecmathis , @skynetgen , @HighBredCloud ...... here is the link to the document. If the images are too small, increase zoom to 200% or I can post them here. Thanks! Looking forward to any feedback.

https://docs.google.com/document/d/1Sa_cG681UWzEhWVcdBtMWRM_qFElxInpZa81zlxipR0/edit?usp=sharing

 

[skynetgen]

@blakecmathis , @skynetgen , @HighBredCloud ...... here is the link to the document. If the images are too small, increase zoom to 200% or I can post them here. Thanks! Looking forward to any feedback.

https://docs.google.com/document/d/1Sa_cG681UWzEhWVcdBtMWRM_qFElxInpZa81zlxipR0/edit?usp=sharing

Very interesting. Lots of stuff to analyze. Couple of questions:
1) you prefer /NQ what do you feel are main differences?
2) Tried replicate your STCCI atr for 1k chart. Could not. What is the exact indicator and settings you are using (there is tons of Supertrends floating around , I myself have like 8 versions , 4 of them mine - confusing as hell)

Personally the way I use FE now is crossing underneath and recrossing back up of 0.4 line. Which compared to your approach is most of the time delayed and I use it mostly for reversals plays

Your strategy of using midline downwards cross appears to me suited for continuation intrend plays.

 

[RickK]

@skynetgen , thanks for replying. Yes, I def prefer /NQ. Here's a perfect example (very common): look at the trading on 12/12/19....beginning at 8:34am when the run up began. /NQ was about 8380.75 and /ES was about 3138.75. When it began its first retracement at 8:39 /NQ had reached about 8463.50 and /ES had reached about 3162.24. Considering just 1 contract, one would have made $1655 on the /NQ (331 ticks x $5) but would have only made $1155 on the /ES (94 ticks x $12.50). (Boy, I hope I got this right or there's egg on my face .... lol). This happens all the time and, since the two markets really run parallel, it seems to make more sense to trade the /NQ. Help me if there's something I haven't considered.

Yeah, I hear you. I've got many versions of alot of the main studies myself....getting hard to keep track. As far as trying to replicate, I'll just upload the worksheet I used to do the backtest so you can look at it. It still has most of the lines I used....had to remove some to create the pictures in the strategy document. BTW, I used the strategy on the /NQ, /ES and /RTY today. You can find it here: https://tos.mx/TQ6hH0H

I'll be interested in learning more about how all of you use this tool, yes. Because I won't make a living on (often little) scalps like these. One thing though, I've frequently heard people mention this .4 line.... which I assume is simply the 40% area on the RSILE_FE3 indicator. But on my charts, this line floats....sometimes over 50% and sometimes as low as 30%. Same for you? Or is it when the Midline (M on the RSILE_FE3 study) AND FE converge at 40%....is that the sweetspot?

I'll have to pay more attention to when it crosses up.

 

[skynetgen]

So i modified RSILFE study to make that signal I am talking about clearer. can change .4 to whatever you want (.5 would be mid)

Here it is https://tos.mx/u7TLJYZ

 

[blakecmathis]

@RickKennedy "For me, trading between 11am CST and 1pm CST is a long drawn out affair usually with poor results, due to lack of volume and volatility." Couldn't have said it better myself dude.

 

[RickK]

OMG @skynetgen .... your RSILFE is sending my brain into an epileptic fit.....lol. I've got a LOT of questions about your approach to this study. Just can't do it now. Gonna have to study this and find some correlations. I'll get back to you.....thanks!

 

[HighBredCloud]

So i modified RSILFE study to make that signal I am talking about clearer. can change .4 to whatever you want (.5 would be mid)

Here it is https://tos.mx/u7TLJYZ

What do you use at the entry signal? I never really understood the hype about the RSI Laguerre...most likely my ignorance to the indicator.