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PaceAdvantage
12-18-2013, 01:56 AM
I am going to risk becoming this sub-forum's version of Ultimate Selector! by posting my trades for the next three days as close to live as possible. I've recently developed yet another trading plan, this time involving a 233 tick chart and the e-mini Nasdaq futures contract (NQ).

In the past, I have always believed that being fully automated was the way to go, but there are things about this particular trading plan that would be hard (for me at least) to automate. So I am going to be trading "manually" for now.

Tomorrow is Fed announcement day, so that should make things wicked exciting...lmao

RaceBookJoe
12-18-2013, 08:49 AM
The 233 should be a decent tick chart to use. The pivot point I see is at 3455 with R1 @ 3473.75, would also watch 3450 if it gets there. good luck, very hard to post live but wish you the best.

PaceAdvantage
12-18-2013, 08:56 AM
I've got some price levels on my chart (3425, 3453.25, 3467.75, 3477) that I have marked just from eyeballing the daily. I don't actually use them to trade, but they are a good reference point, and could provide added confirmation and perhaps a reason to step up size or add to a position if it looks as if that level is indeed significant.

Posting live just to keep myself honest for the next few days. These things tend to humble a person more than prove anything...lol

PaceAdvantage
12-18-2013, 08:59 AM
Cover my ass disclaimer (not that I expect or want anyone following me...lol)

I do not act in the capacity of any of the following and you should not construe my activities as involving any of the following:

* Providing investment advice;
* Acting in the capacity of an investment adviser or engaging in activities that would be deemed to be providing investment advice that requires registration either at the federal or state level;
* Broker-dealer activities;
* Stock picker;
* Securities trading expert;
* Securities analyst;
* Financial planner or financial planning;
* Providing stock recommendations;
* Providing advice about buy and sell or hold recommendations as to specific securities; or
* Offer or sale of securities or solicitation to purchase securities;

You should not interpret any of my posts as investment advice. If you are seeking investment advice you should consult with an registered investment adviser, registered stockbroker, or other financial professional of your choosing.

There...now I feel so much better after copying that off another site... :lol:

PaceAdvantage
12-18-2013, 09:03 AM
You can tell it's going to be slow up to the Fed announcement when the market didn't move a muscle after housing starts came in above consensus at 8:30

RaceBookJoe
12-18-2013, 09:16 AM
You can tell it's going to be slow up to the Fed announcement when the market didn't move a muscle after housing starts came in above consensus at 8:30

Yeah, /CL didn't move much on pit open ( 20t ? ) , might get a few stock moves early, then probably very quiet until 11pdt. Will be watching GILD, GOGO,JBL and the big names ( AAPL,AMZN,BIDU,TSLA,GOOG,LNKD,NFLX) at the open along with anything that hits my scanner.

PaceAdvantage
12-18-2013, 09:35 AM
09:35:21 SOLD -1 /NQH4 @3465.50

PaceAdvantage
12-18-2013, 09:36 AM
09:36:03 BOT +1 /NQH4 @3467.75

PaceAdvantage
12-18-2013, 09:36 AM
Down 2.25 points to start the day...

PaceAdvantage
12-18-2013, 09:48 AM
09:48:08 BOT +1 /NQH4 @3463.50

PaceAdvantage
12-18-2013, 09:52 AM
09:52:09 SOLD -1 /NQH4 @3462.25

PaceAdvantage
12-18-2013, 09:53 AM
Down 3.5 on the day...

PaceAdvantage
12-18-2013, 10:02 AM
10:02:32 BOT +1 /NQH4 @3454.75

RaceBookJoe
12-18-2013, 10:09 AM
The 233 should be a decent tick chart to use. The pivot point I see is at 3455 with R1 @ 3473.75, would also watch 3450 if it gets there. good luck, very hard to post live but wish you the best.

pivot listed was mistype, should have read 3465 not 3455, was great short on the loss and slight bounce back up to that pp. They aren't magic, but I use them often.

RaceBookJoe
12-18-2013, 10:10 AM
LNKD got hammered, should be a bit of a bounce.

PaceAdvantage
12-18-2013, 10:13 AM
Getting good traction on this last trade...seeing where it goes from here

PaceAdvantage
12-18-2013, 10:15 AM
Bounced nicely off my 3453.25 level...guess I should pay more attention to my levels...lol

PaceAdvantage
12-18-2013, 10:16 AM
10:15:17 SOLD -1 /NQH4 @3459.00

PaceAdvantage
12-18-2013, 10:17 AM
10:16:06 SOLD -1 /NQH4 @3458.50

PaceAdvantage
12-18-2013, 10:17 AM
Up .75 on day and currently short

PaceAdvantage
12-18-2013, 10:28 AM
10:28:22 BOT +1 /NQH4 @3458.25

PaceAdvantage
12-18-2013, 10:29 AM
Up 1 measly point on day....lol

PaceAdvantage
12-18-2013, 10:38 AM
And down because of commissions...commissions...the silent trader killer... :lol:

PaceAdvantage
12-18-2013, 10:56 AM
10:56:24 BOT +1 /NQH4 @3456.75

PaceAdvantage
12-18-2013, 11:07 AM
11:06:57 SOLD -1 /NQH4 @3456.00

PaceAdvantage
12-18-2013, 11:08 AM
11:06:57 SOLD -1 /NQH4 @3456.00 now short

PaceAdvantage
12-18-2013, 11:08 AM
Currently up .25 on day

PaceAdvantage
12-18-2013, 11:10 AM
11:09:30 BOT +1 /NQH4 @3456.75

PaceAdvantage
12-18-2013, 11:10 AM
Currently flat

Down .5 on day

PaceAdvantage
12-18-2013, 11:15 AM
11:14:58 BOT +1 /NQH4 @3458.25

PaceAdvantage
12-18-2013, 11:21 AM
11:21:17 SOLD -1 /NQH4 @3456.75

PaceAdvantage
12-18-2013, 11:22 AM
Down 2 points on the day and flat...getting chopped up a bit in this morning session.

PaceAdvantage
12-18-2013, 11:44 AM
It sucks watching the market move without me...but stick to the plan I must...hopefully the plan isn't a money burner...lol

PaceAdvantage
12-18-2013, 12:02 PM
12:01:55 SOLD -1 /NQH4 @3443.50

Trading at noon is such an amateur move...

RaceBookJoe
12-18-2013, 12:04 PM
are you using any indicators, moving avgs or just price levels?

PaceAdvantage
12-18-2013, 12:05 PM
12:05:03 BOT +2 /NQH4 @3446.00

See...told you...and I'm a bigger fool because I just reversed to go long

PaceAdvantage
12-18-2013, 12:06 PM
Down 4.5 points and currently short

PaceAdvantage
12-18-2013, 12:20 PM
are you using any indicators, moving avgs or just price levels?

12:19:03 SOLD -1 /NQH4 @3446.00

Down 4.5 and flat

I'm using Bollinger Bands primarily at the moment with this setup.

PaceAdvantage
12-18-2013, 12:30 PM
12:29:44 BOT +1 /NQH4 @3447.25

PaceAdvantage
12-18-2013, 12:35 PM
12:34:30 SOLD -1 /NQH4 @3444.25

I hope you guys are fading me today... :lol:

Down 7.5...I'm taking a break...be back in an hour or so...

PaceAdvantage
12-18-2013, 12:56 PM
Surprise...I'm back....have to take every signal...or else what's the point of testing and coming up with a trading plan?

12:55:36 BOT +1 /NQH4 @3441.50

PaceAdvantage
12-18-2013, 12:58 PM
12:56:56 SOLD -1 /NQH4 @3438.75

Wow, that was fast...now I'm down 10.25 points on the day...not the start I was hoping for.

Saratoga_Mike
12-18-2013, 01:27 PM
Is this real money or are you testing something? Either way, brave man doing it on Fed day - crazy movements today. Good luck.

PaceAdvantage
12-18-2013, 01:30 PM
Real money...1 contract...

wiffleball whizz
12-18-2013, 01:34 PM
Question to the master.....

At the end of the tracing day will u post nice photos like ultimate selector of lights dimming at Wall Street?

Will you give us a breakdown of the day?

Respectfully
Professionally,

Wiffleball Whizz

Saratoga_Mike
12-18-2013, 01:35 PM
I'm waiting to see your position, if any, at 1:59 pm. I suspect the mkt rallies, but my short-term mkt calls are not good.

PaceAdvantage
12-18-2013, 01:35 PM
13:34:46 SOLD -1 /NQH4 @3433.25

PaceAdvantage
12-18-2013, 01:52 PM
13:51:30 BOT +1 /NQH4 @3435.00

Down 12 points on day...

PaceAdvantage
12-18-2013, 02:06 PM
Had no time to post this real time:

14:04:23 BOT +1 /NQH4 @3446.00

14:04:55 SOLD -1 /NQH4 @3450.00

Down 8 on day

PaceAdvantage
12-18-2013, 02:07 PM
I should be long right now from 3448 (it's up to 3460)...but my platform has gone zonkers and can't keep up with the action....**** me...lol

PaceAdvantage
12-18-2013, 02:08 PM
And this is why you can't trade fed day if you're a retail trader...I should be up almost 20 points in a trade right now, but I never got in...

PaceAdvantage
12-18-2013, 02:09 PM
Would have gotten out at 3668....20 points...and nothing in my pocket...

RaceBookJoe
12-18-2013, 02:10 PM
insane move off initial reaction to fomc :)

PaceAdvantage
12-18-2013, 02:13 PM
My quotes are still a minute behind...wow

RaceBookJoe
12-18-2013, 02:19 PM
My quotes are still a minute behind...wow

ouch, what platform do you use..i forgot? I got a great long on /ES

PaceAdvantage
12-18-2013, 02:20 PM
My quotes just caught up now...lmao

PaceAdvantage
12-18-2013, 02:21 PM
ouch, what platform do you use..i forgot? I got a great long on /ESI used to use tradestation, but since I switched to options for a while, I was and still am on thinkorswim....yeah...I know...

PaceAdvantage
12-18-2013, 02:22 PM
Luckily, I haven't had a signal since 2:04 (the doozy 20pointer)...and I got real luck I made 4 points on that trade I took after the announcement...I was flying blind...

RaceBookJoe
12-18-2013, 02:30 PM
These indice moves ( YM,ES,NQ ) are great example of trading news and the reaction/overreaction to that news.

PaceAdvantage
12-18-2013, 02:45 PM
I'm on the sidelines...obviously, my platform can't handle this kind of action...believe it or not, I haven't missed out on anything other than the aforementioned biggie

PaceAdvantage
12-18-2013, 03:01 PM
15:00:46 SOLD -1 /NQH4 @3475.00

PaceAdvantage
12-18-2013, 03:05 PM
15:04:39 BOT +1 /NQH4 @3476.25

PaceAdvantage
12-18-2013, 03:05 PM
Down 9.25...and getting wrecked on commissions...

barn32
12-18-2013, 03:08 PM
How much is 1 point worth?

1 tick?

How much are commissions?

RaceBookJoe
12-18-2013, 03:12 PM
I assume you have a certain amount of ticks for both profit targets and stops? Think my trading day is done, pretty good day actually and don't want to piss any of it away. I think the rest of the year I will trade just like today, 1st 60-90 minutes, then come back for the 11-12 pdt session if at all depending on how the early session goes. Short week the next 2 weeks as it is. Markets just popped as I was typing this, missed it, oh well.

RaceBookJoe
12-18-2013, 03:15 PM
How much is 1 point worth?

1 tick?

How much are commissions?

For /NQ :

1 tick = $5
1 pt = $20
commissions vary - avg is approx. $3ish for rt

PaceAdvantage
12-18-2013, 03:19 PM
15:18:55 SOLD -1 /NQH4 @3489.75

PaceAdvantage
12-18-2013, 03:20 PM
15:19:59 BOT +1 /NQH4 @3491.25

PaceAdvantage
12-18-2013, 03:20 PM
Down 10.75...the hits keep coming

PaceAdvantage
12-18-2013, 03:21 PM
15:21:14 SOLD -1 /NQH4 @3489.00

PaceAdvantage
12-18-2013, 03:24 PM
15:22:54 BOT +1 /NQH4 @3493.00

reversed

15:22:54 BOT +1 /NQH4 @3492.75

PaceAdvantage
12-18-2013, 03:25 PM
15:24:35 SOLD -1 /NQH4 @3490.75

Wow...am I putting on a clinic on how not to trade...

PaceAdvantage
12-18-2013, 03:26 PM
-16.75 at $20 per point...WTF?

PaceAdvantage
12-18-2013, 03:27 PM
Down about $500 including commissions at the moment...

PaceAdvantage
12-18-2013, 03:29 PM
I assume you have a certain amount of ticks for both profit targets and stops? Nope...I am quick to get out when I think the trade isn't going to work...and I try and let winners run...the only one that really ran for me today, I didn't get into...

PaceAdvantage
12-18-2013, 03:43 PM
15:43:08 SOLD -1 /NQH4 @3503.00

I am a glutton for punishiment

PaceAdvantage
12-18-2013, 03:46 PM
15:44:54 BOT +1 /NQH4 @3505.50

Down 20.25...I'm officially done...experiment cancelled...lmao

PaceAdvantage
12-18-2013, 04:07 PM
http://jokideo.com/wp-content/uploads/2013/06/Not-just-fail-but-epic-fail.jpg

PaceAdvantage
12-18-2013, 04:14 PM
And it's not the $500...it's the way it happened...I didn't do anything wrong (in terms of taking only setups)...and yet it went so very wrong...

I think we can analyze this a bit though.

A couple of points:

1) I should not have been trading so much pre-Fed...that's just a recipe for being chopped up, as I was...but it's not like the market didn't move pre-Fed...it did...I just wasn't in sync with it at all.

2) I can't trade big market moving events with my current platform. So I missed out on a trade that would have taken a very big bite out of my losses today.

3) I should have just listened to Saratoga Mike and went long when he posted he thought the market was going to rebound... :lol:

lamboguy
12-18-2013, 05:23 PM
today a federal jury found Michael Steiberg guilty of insider trading. he is a portfolio manager for SAC Capital, a hedge fund. this company found the winning trades just about all the time. i think its a lot tougher to battle these guys in the markets than the batch bettors betting horse racing worldwide.

Michael is going to be facing a 25 year jail sentence for his trades though along with 7 other guys so far.

http://money.cnn.com/2013/12/18/investing/steinberg-sac-capital/

RaceBookJoe
12-18-2013, 05:39 PM
And it's not the $500...it's the way it happened...I didn't do anything wrong (in terms of taking only setups)...and yet it went so very wrong...

I think we can analyze this a bit though.

A couple of points:

1) I should not have been trading so much pre-Fed...that's just a recipe for being chopped up, as I was...but it's not like the market didn't move pre-Fed...it did...I just wasn't in sync with it at all.

2) I can't trade big market moving events with my current platform. So I missed out on a trade that would have taken a very big bite out of my losses today.

3) I should have just listened to Saratoga Mike and went long when he posted he thought the market was going to rebound... :lol:

Days when you are out of sync just happen from time to time. I usually take a break if I have 3 straight losers. It looked like you tried to fade the prevailing trend a few times. Huge overall moves both ways...would be nice if everyday had those type of swings. Try adding a stochastic ( for overbought/oversold ) or a macd or moving avg to give an idea for trend. Prices on /NQ, /ES and /CL were tagging the pivots all day. But like you said in #2, lightning fast platform is a must. Better trading tomorrow !!!

PaceAdvantage
12-18-2013, 08:44 PM
I'll be back tomorrow morning with a new thread and some more entertainment for you guys...