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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.
DS,

Real tradeing, day by day, and yes some discretionary filtering, and my stop/target changes it used to be 2 and 3,4...Thursday for ex. I posted in another thread I took a short and instead of taking 2.5pts I took almost 8. The reason being the ES took almost 25 min to break the tight range established in the first 5 min. And I have never had a 5 tick slip. If .25 is too much run this on the TF .10 is a lot more user friendly and the NQ's are even better.
My point is feel free to test it thats what I have been saying all along. I have stopped running the numbers on this because I have been trading this for well over a year and I know it works. When I started this thread at around feb it was making about 3500 per contract. Now its not doing as good but Its up almost $1500 per contract. Is it falling out of sync? I don't think so because it runs into periods of churn like all things. And if a trader doesn't know this you might as well save your money because your going to trade to large and go bust or get out on a bad week in a bad month.

Please fell free to scrutinize this as judgmental as you can perhaps we can make it better? But be realistic I have never had a 5tick slip my order is sitting there ASAP there not going to jump over it.
Joe,

I don't want to be misunderstood... me either NEVER had 5 ticks of slippage. The maximum I had is 1 tick!! Fortunately ES does not really suffer of lack in liquidity...
It was just an example for the inquiry from Djangho. What I meant is: you have in my test 2,25 pts profit if the fill is OK at the breakout but if the fill is poor the profit would be lowered consequently. Just to explain the reasoning.
Further, my english may happen to be not exactly perfect since it's not my mother language...
I'm interested in understand what are your discretionary filters: price action while the bar is forming? Technical analisys, i.e. proximity to supports/resistances or pivots...
I ask you this because I'm all the time facing these issues while applying my method.
Thanks for sharing
The 5B strikes again. +7.25 on the NQ by 10AM. Thanks Joe.
Is there any particular difference in trading NQ instead of ES according to your experience? I mean in general and with this method in particular...
How many $ per point on the NQ? Is it $5? And what's the TF?
TF is $10 a tick and moves like a bullet be careful. NQ is $5 a tick.
Hi charter Joe..

I love this strategy... I have a question.. I'm seeing that the first 15 minuite hi or low can be a great entry as well... How would you calculate your stops and stop losses if you used the 15 min hi/lo.. Am I making sense?? Is it the same?? Or am I misunderstanding this entirely..
Thanks for any info....
Tmom,

I am glad you like it. And yes the 15min is a good entry as well. I don't do it on the ES but I have seen that it works well. I would setup a demo and maybe try 2.5 and 1.5points and document the results and see whats best for you, as you can always add cons to a winning system. I trade the 15min breakout on a small basket of stocks F, PALM, AA, BAC, HD, KO ONLY WHEN IT MATCHES THE MAIN TREND! I define trend as per daily chart of higher highs and higher lows is up and lower lows and lower highs as a down trend.
Hello folks,

I'm realtively new the forum and have never posted. I ran across this topic this morning and found it very interesting so I watched and applied the rules...in sim...and noted the following...

5B range...based on the 6 1 min bar rules...909 hi and 906.25 lo.
Based on entry of 2 ticks above hi or below lo would have entered S at 5.75 at 8:43 cst and the 2.5 point target was hit at 8:56.

30B range 909.25 hi and 902.75 lo. Based on entry 2 ticks below lo would have enter S at 902.25 at 9:31 cst and the 2.5 point target was hit at 9:44 cst.

Does everyone concur?
I noted the following today...all times cst...

5B OR 908.5 hi and 906 lo. S entry at 5.5 hit at 8:39. Mkt made a lo of 3.5 missing the tgt of 3.0 and reversed resulting in a poss break even trade if one had covered at the entry or a loss if held to stop at 8.5. A L entry was hit at 909 at 8:53 and a 2.5 point tgt was filled at 8:59. The mkt continued to move higher to 16.25.

30B OR 913.5 hi and 903.5 lo. L entry a 14 hit @ 9:02. Mkt moved to 16.25 missing tgt of 16.5 and reversed to possible break even exit or missed stop at 10.5 by 1 tick and reversed to fill tgt at 16.5 at 12:08 if position had been held.
(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