July 15-2021
I have been trading the Emini Dow Jones for a while and have defined a standard setup for my fast 1 minute chart as follows.
- Swing:8
- Origination Mode: Trading Days
- Source Days: 1-2-3-4
- Volatility Stop Offset ATR: 1,2
I have noticed that sometimes not always, a have too much closer dot signals, and when it happens, I just saw my 3 minute chart in another screen. Cause I like to see all my 1 minute chart in one screen, I take advantage of one utility of the Warp software called “Secondary Data Series”.
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It allows me to:
For today I am using the first one. So, I used the same swing of 8, like always, and add the same instrument contract YM 09-21 but with a period value of 3. It means that in my 1 minute chart I can see the dots signals of the 3 minute chart of the YM. I want more clean signals, and as result I expect better swing trades during my Ney York session. I always used the color white and yellow, for my dot signals in 1 minute chart, but for this setup I change the colors. Red for selling pressure signals, and lime green for buying pressure signals. |
My trading plan is the same, trading the YM with 3 contracts.
As I expected the time between predictive signals are longer (More distance). So, I decided to open my first trade at 8:21 a little bit late. The entry signal was at 8:19. Also knowing that the opening bell was at 8:30. After the price cross the last swing high, I move my stop loss at point of break even.
My daily profit goal is $500 usd, and 1 minute before the open were achieved. I think “let’s wait until 8:42” but take some profits first.
So, the momentum of the opening bell, closed the first 2 contracts.
When I have a big move like this, its ok for me to expect a least a 50% pullback or deeper, and with that in mind, I move my stop loss, a little below that point.
My last contract was covered, and I end my trading morning session.
For today with 3 contracts, @$5 per contract, I have:
60 ticks x 2 contracts x $5 = $600 usd
36 ticks x 1 contract x $5 = $180 usd
Total earned: $780 usd
Total ticks: 156
Stop loss: 16 ticks (@$5 x 3c =$240 usd)
Ratio: 0.3
It’s a good trade for me. I will continue using this configuration setup for other instruments.
Juan Fernando Vega
Mechanical Engineer
Bogota-Colombia
Spanish - Support
