/ES Futures Trading Strategy on ThinkorSwim

[LuKaSi]

Hi @rokaNroll , is your chart the same as @blakecmathis just with the addition of a MP line? I'd be interested in adding that to my chart for sure. Are you finding that using the ES signals to trade off of the MES has been working/lining up? Is this just easier than configuring the studies to work on MES charts? Thanks for all of your input, and for the video you posted.

 

[blakecmathis]

@DaGekko See what I'm saying dude!!!

 

[DaGekko]

Ahhhh - missed the play at 10:10 this morning! Had to go corral the screaming kid... the joys of quarantine! Was good for a 5 point play!

 

[blakecmathis]

Ran some numbers and over the past month since 4/27 roughly 88% of my trades with this setup have been profitable

 

[chaba03]

Ran some numbers and over the past month since 4/27 roughly 88% of my trades with this setup have been profitable

Can you please share the workspace. Also can you please suggest criteria to Enter with stop limit.

thanks in advance

 

[LuKaSi]

Ran some numbers and over the past month since 4/27 roughly 88% of my trades with this setup have been profitable

"Gotta pump those up. Those are rookie numbers..." But seriously, great job.

How do you avoid entering on the false signals. That's my biggest personal challenge with this system. Do the indicators all have to line up perfectly, as well as some PA signs?

 

[blakecmathis]

@LuKaSi Haha appreciate it man! I think the best way to avoid those false signals is to trade in the same direction as the BB stop loss and it will keep you out of a lot of those false signals and bad trades.

 

[blakecmathis]

@chaba03 https://tos.mx/S1k7UaF

https://usethinkscript.com/threads/es-trading-strategy-on-thinkorswim.987/post-22502

 

[chaba03]

@chaba03 https://tos.mx/S1k7UaF

https://usethinkscript.com/threads/es-trading-strategy-on-thinkorswim.987/post-22502

Thank you.

 

[blakecmathis]

@chaba03 No problem man!

 

[chaba03]

W

@LuKaSi Haha appreciate it man! I think the best way to avoid those false signals is to trade in the same direction as the BB stop loss and it will keep you out of a lot of those false signals and bad trades.

What is "BB" Stop Loss,
I think you are using the 2000T and 1D-1M charts for trend.
What is the top 5D 2000t Chart for?

Thank you.

 

[BenTen]

@chaba03 BB stop can be found here: https://usethinkscript.com/threads/bollinger-band-stops-indicator-for-thinkorswim.985/

 

[LuKaSi]

@LuKaSi Haha appreciate it man! I think the best way to avoid those false signals is to trade in the same direction as the BB stop loss and it will keep you out of a lot of those false signals and bad trades.

Thank you for your response. When you say "in the same direction of the BB stop loss" do you mean that when it turns green I should only be going for long trades, or is it the exactly opposite, and I should be trading towards the stop loss? Thanks as always.

 

[blakecmathis]

@LuKaSi Correct. Green going long and red going short.

 

[DaGekko]

@blakecmathis - I might have missed this. Do you wait for the signals on 1,000 and 2,000 then wait for a move through the BB before taking a position?

 

[blakecmathis]

@DaGekko Right unless its just something too good to pass up like a head and shoulders play or inverse head and shoulders.

 

[DaGekko]

Ok I see now - BB stop loss just kept us out of a play that reversed. Thanks for the tip!

 

[blakecmathis]

Spot on dude

 

[blakecmathis]

Quick analysis

 

[LuKaSi]

@LuKaSi Correct. Green going long and red going short.

Awesome, that is making a lot more sense to me now, thank you. Do you find this works better on a certain type of day (Trend/range)? Also I believe you've mentioned this before, but what type of information are we trying to glean from the SPY chart? Just volume?