Big Mike's Trading Forum
 

Go Back   Big Mike's Trading Forum

> Trading Forums > Traders Hideout


The Italian Job
Started:May 31st, 2011 (12:48 PM) by redratsal Views / Replies:45,355 / 667
Last Reply:May 9th, 2014 (02:54 AM) Attachments:31

Welcome to Big Mike's Trading Forum.

Welcome, Guest!

This forum was established to help traders by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

BMT is fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike
     

Reply
 31  
 
Thread Tools Search this Thread

The Italian Job

Old May 31st, 2011, 12:48 PM   #1 (permalink)
Elite Member
Milan (I)
 
Trading Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Instrument: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,632 since Oct 2010
Thanks: 1,194 given, 1,975 received

The Italian Job



Last edited by redratsal; June 1st, 2011 at 02:10 AM.
Reply With Quote
     

Old May 31st, 2011, 12:48 PM   #2 (permalink)
Quick Summary
Quick Summary Post

Setups Rules:

1) Set one contract Limit Order on the 2nd Vwap Standard Deviation:
a. Enter Short if the price hits the upper band
b. Enter Long if the price hits the lower band
2) Management Stop Loss is set to Max 5000 USD
3) Stop Loss is set by default to 100 ticks but moved according to PA
4) Targets are set according to PA and S/R
5) Scale in 1 contract near Resistance or Support see post #498 https://www.bigmiketrading.com/traders-hideout/11184-italian-job-50.html#post159850 (Stop Loss moved accordingly to rule 2)
6) Position discretionary closed or reversed according to PA

Charts

- 60 minutes chart to check main supports and resistances
- 5 minutes chart with Vwap and SD for entry
- 6 Range and 12 Range for trade management

Indicators

- Fibonacci Zones (not on BMT, send a PM to Fat Tails)
- Price Swing Action https://www.bigmiketrading.com/ninjatrader/1272-priceactionswing-discussion.html
- Auction bars (not on BMT, send a PM to Fat Tails)
- Vwap https://www.bigmiketrading.com/download/ninjatrader-7/indicators/674-download.html
- GomCD https://www.bigmiketrading.com/elite-circle/6802-gomrecorder-2-a.html

Please register to view the post attachment(s), image(s), or screenshot(s) - it's simple and free.


10 reasons for not trading this method:

1) If you don’t have time to read it
2) If you don’t have time to test it
3) If you are looking for a one button mechanical system
4) If you are not patient
5) If you are looking for the holy grail
6) If you think it’s easy
7) If you are under capitalized
8) If you are not strongly convinced
9) If you think it can solve your problems
10) If you can not handle stress

Trades are taken real time on Sim Account, timing is based on Central European Time, to convert:
PDT -9
CDT -7
EDT -6
British Summer Time +1

This method is not fitted for novice traders, a good understanding of PA and its mechanics is highly recommended, minimum start up capital should be at least 50K, scaling in against the trade without knowing its consequences and without a proper trade management can lead to a rapid ruin of the trading account. The intent of this thread is not to show how profitable can be the method but rather to encourage any trader that with a correct approach and with simple but strict rules and a strong motivation intraday trading can be successful in different ways, this is one attempt.

Added NoiseBands indicator https://www.bigmiketrading.com/download/?catid=19&filter=&sort=r&page=1&pp=10&keyid=631 as a filter to reduce risk on trending days post #632 https://www.bigmiketrading.com/traders-hideout/11184-italian-job-64.html


Last edited by redratsal; March 7th, 2012 at 04:23 AM.
     

Old May 31st, 2011, 03:01 PM   #3 (permalink)
Elite Member
Dallas, TX
 
Trading Experience: Beginner
Platform: Ninjatrader
Broker/Data: Zen-Fire
Favorite Instrument: ZN, 6E
 
gulabv's Avatar
 
Posts: 284 since May 2010
Thanks: 159 given, 153 received

Love the title for your thread!


Awesome job redratsal! Can't wait for part II !!

Reply With Quote
     
The following 2 users say Thank You to gulabv for this post:
     

Old June 1st, 2011, 12:14 AM   #4 (permalink)
Administrator: 'da Big Dawg
Manta, Ecuador
 
Trading Experience: Advanced
Platform: My own custom solution
Favorite Instrument: SP500, Stocks
 
Big Mike's Avatar
 
Posts: 38,300 since Jun 2009
Thanks: 25,066 given, 57,547 received

Nice job

Mike


Want my help or input?
1) Please don't PM me, instead make a post on the forum.
2) In your post, mention me by typing @Big Mike.

If you want to support our community, become an Elite Member.

Reply With Quote
     
The following user says Thank You to Big Mike for this post:
     

Old June 1st, 2011, 02:08 AM   #5 (permalink)
Elite Member
Milan (I)
 
Trading Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Instrument: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,632 since Oct 2010
Thanks: 1,194 given, 1,975 received


Reply With Quote
     

Old June 1st, 2011, 02:29 AM   #6 (permalink)
Elite Member
Milan (I)
 
Trading Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Instrument: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,632 since Oct 2010
Thanks: 1,194 given, 1,975 received


Reply With Quote
     

Old June 1st, 2011, 02:52 AM   #7 (permalink)
Administrator: 'da Big Dawg
Manta, Ecuador
 
Trading Experience: Advanced
Platform: My own custom solution
Favorite Instrument: SP500, Stocks
 
Big Mike's Avatar
 
Posts: 38,300 since Jun 2009
Thanks: 25,066 given, 57,547 received

I saw where you mentioned your max stop loss and scaling in, but I did not see where you talked about your profit targets. ?

Mike


Want my help or input?
1) Please don't PM me, instead make a post on the forum.
2) In your post, mention me by typing @Big Mike.

If you want to support our community, become an Elite Member.

Reply With Quote
     

Old June 1st, 2011, 02:56 AM   #8 (permalink)
Elite Member
Milan (I)
 
Trading Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Instrument: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,632 since Oct 2010
Thanks: 1,194 given, 1,975 received


Big Mike View Post
I saw where you mentioned your max stop loss and scaling in, but I did not see where you talked about your profit targets. ?

Mike

The default Target (set by ATM) is 30 ticks, nevertheless profit targets are not fixed, I set them once I have entered the trade and move them according to PA and S/R levels. I will comment with screen shots each and every trade, it will be easier to understand my target setup.

Reply With Quote
     
The following user says Thank You to redratsal for this post:
     

Old June 1st, 2011, 02:56 AM   #9 (permalink)
Market Wizard
Honolulu, Hawaii
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Instrument: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,787 received

Wow, a lot of time spent on those videos!

Someone wants an prize! Good for you and a great amount of detail!

Reply With Quote
     
The following user says Thank You to bluemele for this post:
     

Old June 1st, 2011, 03:03 AM   #10 (permalink)
Elite Member
Milan (I)
 
Trading Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Instrument: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,632 since Oct 2010
Thanks: 1,194 given, 1,975 received


My trades in the last 90 minutes:

Please register to view the post attachment(s), image(s), or screenshot(s) - it's simple and free.

Please register to view the post attachment(s), image(s), or screenshot(s) - it's simple and free.

Please register to view the post attachment(s), image(s), or screenshot(s) - it's simple and free.

Reply With Quote
     
The following 4 users say Thank You to redratsal for this post:
     

Reply



Tags
--, 00, 123, 6 range, 6b, 6e, 6r, 9.1, account, accurate, adr, advice, ai, alert, alternative, amazon, amp, analysis, angle, art, asia, ati, ats, automatic, automation, ava, average true range, avoid, bac, back months, bars, bat, beat, benchmark, better volume, bfe, big mike, bollinger, bollinger band, bot, breakout, breakouts, c2, cd, ces, challenge, change, channel, chart, chart trader, charts, charttrader, christmas, cl, close, closing, cloud, cme, cnbc, color, combination, combine, composite, condition, connection, consistency, contest, contracts, control, convert, correlation, covered, create, crowd, crude, crude oil, cumulative delta, custom, daily, dalton, data, data series, database, dates, day, day session, day trading, days ago, daytrade, delta, demand, demo, direction, distance, doc, dog, dollar, don, dow, ea, ecb, edge, el, enter, entry, equity curve, error, es, eu, europe, european, event, exchanges, exit, exit strategy, extension, failure, fair, false, fb, fed, fibonacci, file, fill, flatten, food, formula, free, function, functions, future, gap, goals, gom, gom cd, gomcd, guru, habits, head and shoulders, hideout, high, historic, holiday, homework, horizontal, how to, how to make money, hvn, hybrid, idiot, india, indicator, indicators, information, initial balance, instruments, intraday, iqfeed, iv, japanese candles, japanese candlesticks, jing, job, journal, key levels, laptop, learn, learning, level, life, limit, limit orders, lines, liquidity, list, live, living, load, long term, long time frame, lookback, losing, losses, lot, love, low, macro, mae, manage, management, market, market-profile, master, maximize, md, meeting, mental, method, mind, minutes, ml, mode, money, money management, moves, movie, moving average, mp, mtf, multiple, naked, nervous, news, ninja, ninjatrader, ninjatrader 7 indicators, note, novice, nt, number, nymex, nyse, oil, open, opening range, option, orders, ose, package, paid, pat, pattern, patterns, perception, performance, period, personal, philosophy, pivot, plan, plot, position size, positions, practice, price, price action, process, profile, profit, profit target, profitable, proprietary, pullback, purpose, puts, question, questions, r3algood, range, range chart, real time, realtime, recipe, red, reduce risk, reliability, reliable, reload, replay, revenge, reverse, revise, risk, risk/reward, ruin, rules, save, sc, scale in, scaling, script, scripts, seconds, send, series, session, session templates, settings, setup, sierra charts, signal, signals, sim, sim trading, simulation, size, slope, sma, small, software, sound, spain, speed, split, spot, spot forex, spreads, squeeze, start, startegy, stats, stop, stop and reverse, stop limit, stop loss, stops, strategy, strategy wizard, stress, study, success, summary, supply, support, support and resistance, systems, ta, target, targets, technical, techniques, template, terms, testing, thank you, theoretical, tick, ticks, time, timezone, tool, trade, trader, trades, trading, trading account, trading journal, trading systems, translate, trend, trend following, trend line, trends, trust, type, uk, underlying, update, ux, values, video, virtual machine, vision, visual, vix, volatility, volume, vote, vp, vps, vwap, warning, wave, white, win rate, windows, youtube, zone
     

Big Mike's Trading Forum > Trading Forums > Traders Hideout > The Italian Job

Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Is Italian Bond Selloff Becoming Self-Fulfilling? Quick Summary News and Current Events 1 August 3rd, 2011 04:59 AM
Italian Banks Slump After Bond Purchase Report Quick Summary News and Current Events 0 July 27th, 2011 06:10 AM
Italian Traders Subforum Big Mike Italian Traders 0 October 27th, 2010 11:56 PM


All times are GMT -4. The time now is 09:36 AM.

Powered by vBulletin®
Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.
SEO by vBSEO ©2011, Crawlability, Inc.
Copyright © 2015 by Big Mike Trading. All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
 
no new posts

Page generated 2015-04-27 in 0.12 seconds with 20 queries on phoenix via your IP 54.144.231.243