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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.
New here. But wanted to let you know that the 5M trade worked this mormning for 4.25 points on the NQ.

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Sorry about the double attachment.
Yup, Nice "V" shape as well in the first 10 min...Welcome to the forum!
I have been scanning some stocks with avg volume over 1 million shares a day, aapl, goog, yhoo, ibm, rimm, ect ect. And 15 min mini I.B. with the same rules as the 5B system, but using the first 15min range go long above or short below place stop at other end and it seems to works well if not better than on the ES and Russell 2k.

It takes 25k to open a day trading stock account right? The only problem is to trade a basket of these stocks and be worth the effort you would need a 100k account. Anyone know of a legit stock day trading prop shop with 8 to 1 or better margin? Or is the max margin in stocks 4 to 1???
quote:
Originally posted by CharterJoe

...
It takes 25k to open a day trading stock account right? The only problem is to trade a basket of these stocks and be worth the effort you would need a 100k account...



Just use In The Money Options and you will get the benefit of Leverage. I graded GOOG options this way on the 60min breakout for 12 months and found that it worked well, especially if you could hang on for the big win days. Some days, an option that cost you around $12.50 ($1250/100) would be worth $35 ($3500) by the end of the day.
Hi Charter,
Looks interesting, just downloaded the book and reading thru it.
If you have any charts based on this when you back tested, can you share please.
Looking forward,

Cheers
Fxbee
quote:
Originally posted by forexbee

Hi Charter,
Looks interesting, just downloaded the book and reading thru it.
If you have any charts based on this when you back tested, can you share please.
Looking forward,

Cheers
Fxbee



Hi Charter,

Sorry, didnt notice the page navigation (new to this forum). I have seen your charts on 5B in following pages.

Thanks, Fxbee
quote:
Originally posted by bakrob99

quote:
Originally posted by CharterJoe

...
It takes 25k to open a day trading stock account right? The only problem is to trade a basket of these stocks and be worth the effort you would need a 100k account...



Just use In The Money Options and you will get the benefit of Leverage. I graded GOOG options this way on the 60min breakout for 12 months and found that it worked well, especially if you could hang on for the big win days. Some days, an option that cost you around $12.50 ($1250/100) would be worth $35 ($3500) by the end of the day.




bakrob,

How do you chart the options though? On etrade I can plot GOOG itself but then how do you know when to buy the call/put option depending on when the high/low violation occurs on the stock itself?
You can chart options on Etrade. Pull up the option chain link the chart to the chain and click on any put/call.
Thanks Joe. I was just being blind.

If you are trying to trade the IB using options, you do not want to chart the options right (because of the low volume on them)? So do you chart the stock itself and when the IB is penetrated, you place a MKT order on the put or call of your choice? How do you trade options based on the stock's chart? I guess I am seeing logistical problems with trying to trade options with this strategy.
(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