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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.
quote:
Originally posted by Megatron1981

Hey Charterjoe,

what profit target and stop loss would you use for the bonds? I've tested 2 handles and it seems to do very well. your thoughts?



Sorry to take so long to reply. I would have to back test it but I think 10min and 30min will do best, again I'll have to run a few months data to find out what works best. But just from memory I think 10 and 30min was a good number for bonds.
Hi Joe:

Just wanted to let you know the 5B yielded 4.25 points off the NQ this morning. Thanks!

Paul
I am backtesting the 30B for emini ES 06-09 for april and may and the results are negative.

Did someone had positive results for these periods?
The results are not negative. I think you are mistaken I have not missed a day trading this setup in months and have not had a negative month. Honestly you cannot base a system off what happened today.

4/28 +2.5
4/29 +2.5

4/30 -2.5
5/1 +2.5
5/4 +2.5
5/5 +2.5
5/6 +2.5
5/7 +2.5
5/8 +2.5
5/11 +2.5
5/12 +2.5
5/13 +2.5
5/14 +2.5

5/15 -2.5
5/18 -2.5
5/19 -2.5

5/20 +2.5
5/21 +2.5
5/22 +2.5
5/26 +2.5

5/27 -2.5


I trade this with 4 cons and before commish. thats $1500 a con or 6grand with 4. How did you come up with negative numbers? I stated last month I was searching for a money mang system and have found one I dbl up on cons when I am losing and has been working well, so in a draw down of 3 neg days I get it back in one positive day instead of 3 positive days which is really boosting my bottom line and will do so if the system doesn't fall below 48% accurate. Its at 78% based on 6 months, 72% 12 months
The 30B tends to more money in the TF with a $200 OSO stop/target order than the ES with a $125, although $200 in the ES does not boost the bottom line. To offset this I trade more cons in the ES and after this losing run is over plan to dbl cons to 8. I am working on automating this so it can trade YM, NQ, TF, EMD, ZB, ZN, ES, and QM without me having to watch it. Some days the NQ and TF will win and the YM and ES lose ect ect but it is a winning system over time.
hey again joe, i'm getting differing results for this setup too. for example on 5/22 where you posted a gain of 2.5. i'm getting the high at 8:31 and 8:32 of 890.75. that high was broken at 9:21 where i guess a buy was initiated for 891.00 and should have been stopped out for 2.5 loss at 9:32 where the lo there was 888.25. what am i missing here?


The 30B high on 5/22 was broken at 10:25! @ 9:21 the setup was not even complete, the market wasn't even open so I assume you are on a different time zone. It almost stopped one tick and then went for a profit. If you like it trade it if not don't. The stop is not placed -2.5 upon entry but upon the market at the hi/lo. Gotta go 9:58
Joe: your 5B trade worked again this morning on the NQ for 8.5 points per contract! Nice one.
oops, the times i posted are 1 hour behind what i meant. i meant to say the high was broken on my chart at 10:21.
quote:
Originally posted by CharterJoe



The 30B high on 5/22 was broken at 10:25! @ 9:21 the setup was not even complete, the market wasn't even open so I assume you are on a different time zone. It almost stopped one tick and then went for a profit. If you like it trade it if not don't. The stop is not placed -2.5 upon entry but upon the market at the hi/lo. Gotta go 9:58



Hi Joe

I'm very interested in this method because I've been trading a very similar one on ES for some months.It is nothing but a variation of the opening range breakout but there's a huge difference: the stop loss I use is bigger than the profit target, so a high percentage of winning trades is required to be profitable (around 75%). Up to now (5 months) I'm around zero and striving to be pofitable. Losses are vey hard to accept psicologically because the impact is much higher than wins.
I see that your system has more or less the same accuracy (from 72% to 78%) but the stop is the same as the profit. This means that the system should be very profitable because, commissions aside, only 51% accuracy would be enough to win!
I want to be sure that I properly understood the rules... let's go back to 22/5: first 30 min range is 890,75 - 882,00 according to my charts. As you say, you go long at 10:25 at 891 (assuming no slippage). If the stop is 2,5 pts. than it should be at 888,50 (or 888,25 if you consider 890,75-2,5). In any case price touched 888,25 5 min later so the selling conditions was triggered. That trade shgould have been a loss according to my data.
Can you make clear?
(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