Matcha's Dow E-mini Journal

hi, Matcha, are you in sim or you are in real account?

 

Hi Matcha,

I have a question about your chart. The timing of your chart seemed to start about 2 hours before the regular trading hours (RTH) begin and also tag on a couple of hours from the tail end of yesterday's. It looks like your chart calculates the MA with price data immediately before the RTH and you can draw trendlines from yesterday through today's price action.

I don't think IB has that charting capability. It's either RTH for the day or charts the price data with everything outside of RTH.

Thanks.

--po

 

I am in SIM now. But I will try one day/per week in live in Feb if I ended the month in green.

 

good for you!

 

PO. Our No.1 prioity is not to trade in a TR... We have to fully commit to it.

as far as the chart. I want the chart to show more than 20 bars before RTH. (session begins from 7:45est),so the MA has the right caculation after market opens. WF reminds me of that. It;s also useful to show YTD's PA.

I also look at Globex session chart and I pay attention to first bar(sometimes first bar can change everything) at the open. 90 min after market open, I only look at regular session.

 

Hi Matcha,

I think I know how I can do it in the IB charts. It has a feature to "set ignored daily time interval". Is that how you set your chart time interval?

But, in the IB chart when I do this, the timestamp on the x-axis will default to the day interval. It doesn't display hour and minutes for anything beyond 410 minutes.

Thanks.
--po

 

not sure how IB works. In TS, I can create the customed "session chart" so I can create any chart with any time session I want...

 

Hi Matcha,

Yep, for now we only commit to trades with the trend after a PB.

Oh! If you enter a trade in a H2/L2 with trend setup and then the market goes sideway into a TR, at what point do you exit a trade like this? Do you set a time stop? Say after 90 minutes?

I always admire the way you set tight stops. Something I still have not yet mastered . You did well in that regard this week saving some days from bigger losses.

Thank you Matcha for the charting info!

--po

 

If the trend is very very strong. if I am entering on a first entry H2/L2. I will leave the stop at where it should be and hold for retrace. If the stop gets hit, I will either re-enter when I see another entry. or reverse if there is a strong trend from opposite side.

If I enter on a first pullback after the trend is reversed(H/L and L/H). at that point ther EMA isn't yet clearly up or down. If I see too much sideway PA, my plan is I will exit regardless... In reality, I did poorly on this type of trade...

 

Haven't seen an IB chart in ages (as I am on Tradestation), however I think the consensus is that IB chart sucks. I think almost everyone who has IB uses a different charting platform which gives them more flexibility.

I think flexibility is keep to success so if you at any time feel restricted with the contract, with the platform or with anything else then make the change.

My 2 cents.