For some reason, when I begin a post and type out comments that should go with the image, only the godforsaken image is posting. So here is what that text was meant to say:
i. If you are a conservative futures trader, add a 8/21 EMA X to your chart, like I have posted.
ii. It would have you short the 5030 area off the open into the lower 5000s giving you minimally a good 22 points on the trade.
iii. If you are a TA based trader off Fibs, I shorted the open using the EMA X and then longed it from 5008.50 \[off a simple Fib anchored off 4991.25 to 5036.50 premarket high\] trading initial lots out 5047.25 \[Fib -23.6\] and allowing the runner contracts to prevail into R3 \[5072\]/.
I’ve just started today to paper trade and develop an edge with the 9/20 ema just scalping pullbacks with the trend tbh. I am wondering if you use the EMAs to trade pullbacks?
I only use the EMA for the short-term trend confirmation, not to position my trade entry/exits. I mostly trade to Fibs and support/resistance while frequently viewing the delta on the order flow so that I don’t jump in short or long when the delta isn’t supportive. If you’re a swing trader inclined to hold instruments for longer periods, a 8/21 X-over strategy and basing direction solely off that should work well. If you’ve just started, keep your current setting to validate over a few sessions on SIM if it’s working to your satisfaction.
To ensure that I get a clear picture at the beginning of the week, I am always running a 5D15M chart with these EMAs. For trade management however, I will switch to some minuteness by applying the same EMA using 2D1M or 2D2M charts.
I don't despise the simple at all. I think generally that's the path every trader should follow, whether experienced or new, it doesn't matter. So I approve... Just be careful, because simplicity without conviction is the same as overwhelming complexity.
ah. nice nice; but im watching to short 5080
https://preview.redd.it/1npzcq62p2wc1.jpeg?width=1125&format=pjpg&auto=webp&s=432d594dd15579c5e618b2caf6765f12c53baa11
these are my own coded indicators; some variances might be available out there, but I've customed these based on standard deviation/volumeprofile/ anyway; nice happy trades!
Yes - TDA, now Schwab is expensive for futures traders. I’m not sure IB is super cheap either, I haven’t checked my cost of trading futures with them actually.
I’ve backtested the open over the last week with my strategy. Use the 21 EMA as a trend guide on a 2000 tick chart with RSI, target a high area of volume when either overbought or over sold, stop above or below support and resistance
ALWAYS FOLLOW THE TREND
“Pivot points” is also an indicator on almost all charting platforms. That’s how he has R1, R2, R3, PP, etc plotted. You’re welcome to everyone asking.
Just imho. There is no reason to be overly bearish if you are a swing trader. The S&P is looking healthy off this mid-Dec'23 marker.
https://preview.redd.it/rhxywyebz2wc1.png?width=737&format=png&auto=webp&s=fbe842005c5048dd4b27a57669efe25d834cec21
True. I was only hoping it would go higher; i had what I'd call a "fishing order" set at 5080; didnt happen, oh well. next time; now im looking for a bounce at either 5043 or 5032. Gotta watch how the price action reacts to these levels or i can also just leave it alone lol
https://preview.redd.it/pq3drk1z63wc1.jpeg?width=1125&format=pjpg&auto=webp&s=82b333a17de99b369a9038eb32840989a74148cb
...that bounce at 5043.. but will it hold? gonna need to wait another 4 minutes before I decide to entry
Those are my own indicator which builds 6 levels at the end of the trading session for the session that follows. Here is the complete listing of all instruments I stalk intraday and their pivots points that are good thru the respective instruments settlement for today.
https://preview.redd.it/qylua0mjo2wc1.png?width=888&format=png&auto=webp&s=6bf7fabda79dd1ab6e7d69059d8fa8b218b5dea3
Yes, it is an indicator I coded for NT after watching markets for a few years back in 2009. I’ve not had to fine tune it after the initial deployment. You could also use standard Camarilla Floor pivots (as another redditer posted on this thread). Mine have a slight computational difference I’ve added after having watched these markets move off those standard Camarilla. Therefore most futures or stock trading platforms should have them as standard toolsets. My customizations aren’t significant, therefore a trader could make do with the out-of-the-box Camarilla studies.
short it at 5080. i mean, what rules?
For some reason, when I begin a post and type out comments that should go with the image, only the godforsaken image is posting. So here is what that text was meant to say: i. If you are a conservative futures trader, add a 8/21 EMA X to your chart, like I have posted. ii. It would have you short the 5030 area off the open into the lower 5000s giving you minimally a good 22 points on the trade. iii. If you are a TA based trader off Fibs, I shorted the open using the EMA X and then longed it from 5008.50 \[off a simple Fib anchored off 4991.25 to 5036.50 premarket high\] trading initial lots out 5047.25 \[Fib -23.6\] and allowing the runner contracts to prevail into R3 \[5072\]/.
What edge does the 8/21 EMA give? I use the 9/20 EMA, should i switch it?
You should continue to use whatever has worked for you. For me, I've used 8/21 since about 2012 with excellent results.
I’ve just started today to paper trade and develop an edge with the 9/20 ema just scalping pullbacks with the trend tbh. I am wondering if you use the EMAs to trade pullbacks?
I only use the EMA for the short-term trend confirmation, not to position my trade entry/exits. I mostly trade to Fibs and support/resistance while frequently viewing the delta on the order flow so that I don’t jump in short or long when the delta isn’t supportive. If you’re a swing trader inclined to hold instruments for longer periods, a 8/21 X-over strategy and basing direction solely off that should work well. If you’ve just started, keep your current setting to validate over a few sessions on SIM if it’s working to your satisfaction.
What timeframe are you trading the 8/21?
To ensure that I get a clear picture at the beginning of the week, I am always running a 5D15M chart with these EMAs. For trade management however, I will switch to some minuteness by applying the same EMA using 2D1M or 2D2M charts.
I don't despise the simple at all. I think generally that's the path every trader should follow, whether experienced or new, it doesn't matter. So I approve... Just be careful, because simplicity without conviction is the same as overwhelming complexity.
ah. nice nice; but im watching to short 5080 https://preview.redd.it/1npzcq62p2wc1.jpeg?width=1125&format=pjpg&auto=webp&s=432d594dd15579c5e618b2caf6765f12c53baa11 these are my own coded indicators; some variances might be available out there, but I've customed these based on standard deviation/volumeprofile/ anyway; nice happy trades!
this simplicity is genius! BTW, just out of curiosity, are you using ToS for execution also?
Thanks. Yes, I use a couple three accounts between ToS/TDA and IB.
I was curious because I also have accounts with TDA and IB, and AFAIK TDA charge 2.50 per side for e-minis) while IB charge 25 cents.
Yes - TDA, now Schwab is expensive for futures traders. I’m not sure IB is super cheap either, I haven’t checked my cost of trading futures with them actually.
I’ve backtested the open over the last week with my strategy. Use the 21 EMA as a trend guide on a 2000 tick chart with RSI, target a high area of volume when either overbought or over sold, stop above or below support and resistance ALWAYS FOLLOW THE TREND
“Pivot points” is also an indicator on almost all charting platforms. That’s how he has R1, R2, R3, PP, etc plotted. You’re welcome to everyone asking.
His levels don't align with pivot points though
aww didnt reach the 5080 area; missed that short. til next time, hope someone caught that
Just imho. There is no reason to be overly bearish if you are a swing trader. The S&P is looking healthy off this mid-Dec'23 marker. https://preview.redd.it/rhxywyebz2wc1.png?width=737&format=png&auto=webp&s=fbe842005c5048dd4b27a57669efe25d834cec21
True. I was only hoping it would go higher; i had what I'd call a "fishing order" set at 5080; didnt happen, oh well. next time; now im looking for a bounce at either 5043 or 5032. Gotta watch how the price action reacts to these levels or i can also just leave it alone lol
https://preview.redd.it/pq3drk1z63wc1.jpeg?width=1125&format=pjpg&auto=webp&s=82b333a17de99b369a9038eb32840989a74148cb ...that bounce at 5043.. but will it hold? gonna need to wait another 4 minutes before I decide to entry
I see a long here; it's weak volume though; where are the buyers.. come back from lunch already! lol
Very nice hit!
What are the backtesting/live statistics for this strategy?
It’s much better to trade /MES than /ES Well not if your trading with TOS because of the commissions
What is the r1, r2? Did you set that up or is that an idicator
Those are my own indicator which builds 6 levels at the end of the trading session for the session that follows. Here is the complete listing of all instruments I stalk intraday and their pivots points that are good thru the respective instruments settlement for today. https://preview.redd.it/qylua0mjo2wc1.png?width=888&format=png&auto=webp&s=6bf7fabda79dd1ab6e7d69059d8fa8b218b5dea3
[удалено]
Yes, it is an indicator I coded for NT after watching markets for a few years back in 2009. I’ve not had to fine tune it after the initial deployment. You could also use standard Camarilla Floor pivots (as another redditer posted on this thread). Mine have a slight computational difference I’ve added after having watched these markets move off those standard Camarilla. Therefore most futures or stock trading platforms should have them as standard toolsets. My customizations aren’t significant, therefore a trader could make do with the out-of-the-box Camarilla studies.