JTMAI ES Scalper V1.1 no indicators

Hello Trader Friends.

normally I post only on the ninjatrader forum but I thought its important enough to double post and apologize ahead if i am doing something wrong.

Wanted to thank again everyone that is helping and sharing and giving ideas.

So what is JTMI scalper- J is Jane, T is Traderbeauty , M is Mechanical, A is Adaptive to the market conditions and I is for *****s ( no pan intended - just wanted to create an impressive name lol ).

since I am a full time trader , its hard for me to post during the day so i use the weekend as an opportunity to help or at least try to help others.

First- let me warn you- do not use this method live unless you traded paper for few weeks with no losses.

http://imageshack.com/scaled/large/51/6evq.jpg

This is no magic or anything new but there are many rules and pointers that will prevent you from entering at the wrong time or place.

This is a plain 2-1 ticks renko spectrum with only the zigzag UTC on it just to clearly mark the zigzags.

I did not post the big picture on purpose- meaning i am ignoring all the big support and resistance, double tops/ bottoms etc which you should watch normally and consider them but in this post i like to keep everything simple for *****s like me that need a simple yes or no in order to push the button.

So lets get started-

Rules 1: and the most important one- since we dont use indicators- the only way to know the end of a move/ trend - ahead of time is by watching the distance between the tops for an up move or bottoms for a down move.once we have 1 or 2 ticks then it means get out and sit on the sidelines.

Lets look on friday's trading.

Point 1- that is early in the am and we are still fresh and anxious , we can clearly see that we had 2 tops before with a nice distance between them so we are looking for a long entry,once we got it we go long with a stop 1 tick bellow point 1 or you can use a 70 tick chart with acme trend and only go in when you see a clear consolidation then you can get in with 2-3 ticks stop.

since the distance beteen the last 2 tops was big it tells us that the trend is strong and we can easily few points- in this case we could get 3 points easily.

Point 2- we still see that the distance is big so like machine we look for the next long entry which came at point 2- this one would have given us 5 points meaning we could actually stop trading less than an hour after we started with 8 points.

Rule 3---- its not advisable to go more than 2 or 3 times in the same direction, normally the market changes sides and we should expect it to start going the opposite direction so being greedy is ******.

that is why we could but should not take a long at point 3, but even if we did we would go long at 1695 and exit with 2-3 ticks loss once the next bar turns red.

point 4- we have now lower low with a big distance between the bottoms so we look for a short- we take it with stop above point 4 . could have gotten another 3 points here- again using the 70 ticks to monitor.

point 5 is a very small loss or breakeven.

point 6 is a winner for another 2 points. but noticing that the distance between the tops( will call it DELTA from now on ) is much smaller than before gives us the knowledge that this is not a strong trend.

point .

point 7 is ultra obvious- you have to be an ***** NOT to take a short there- look at the delta and the length of the previous move- the market is TELLING US that the move is strong with a big gain expected in this short entry not only few ticks- this was a 4,5 points profit.

point 8 -i need to explain what is going on here-so please pay attention- the ***** rule is- since we have a lower low we just look for a short and we did get it at point 8 and even if we shorted there we would win a little and definitely not lose. BUT...look at RULE 3 - we just entered 3 times short down and point 8 is the 4th short entry with the direction down with hardly any retracement - so we just have to watch, the other more important fact that you have to notice is- we had a VERY STRONG down move with a huge delta- so WHY THE HELL DID THE MARKET GO UP SO HIGH AND SO CLOSE TO POINT 7? unless its planning to reverse. ( mmm, so that is not just for dummies anymore, we need to think a little ...).

point 10- basic and obvious long for another 2 points.

point 11 - same as 10 with another 2 points.

by now we made so much money almost 20 points using only ONE CONTRACT. we had 1 or 2 very small losers and its total mechanical entry with hardly any rules so we cans top trading after 4 hours and go to the beach.

Bottom line- if the legs start to get too small it means we are in either chop or consolidate and we better stay out or SWITCH TO renko 1-1.

Hope it helps-

I am willing to continue my analysis posts but only if I see enough responses and the only way to see that is by people hitting the "THANKS" button.

There is much more to this method by using very basic simple fib levels that will allow you to enter countertrend and make even more money but as i said before- i will only continue if i see some responses and support.

Hope you enjoyed and thank you all again.

Jane

Wow Jane, you have been busy. Thanks for your excellent posting and shares on this forum my friend.

Great post, however, one side of the screen capture is cut off...so I am not able to see past point#6.

 

Thanks for sharing your approach.

 

T99

here is the direct link

http://imageshack.com/i/1f6evqj

jane

Please continue your analysis posts, I am also following you, willing to find more. You said you are a full time trader. Do you use this method regularly and successfully?

And another question would be: you are Ninja trader, is this strategy applicable to MT4 also?

Edited August 12, 2013 by totemg2000

Hi Totem

i only trade the ES and i only trade using this method but more composed, meaning- i watch the bigger picture also and i go counter-trend also on certain situations.

but in this post i was trying to make it simple and easy.

if i see enough interest then i might continue to the next stage.

using this method does not require ninja- i use renko spectrum because it takes off a lot of the noise that normally u have in tick charts , but as long as you follow the legs and the reasoning you will win all the time.

jane

Sorry Jane, lame question but.. what is ES =?

Is renko spectrum = renko bars? or is it something else?

 

Thank you very much

This is what I was afraid of: trading on Ninja you use Ninja indicators such as Renko spectrum 2-1 and ZigZag UTC. Can you recommend some equivalent indicators for Metatrader? Any renko chart and any zigzag indicator for MT4 would show the same thing? what would be the settings?

will answer both- ES is the emini future for the s&p 500 traded electronically through the globex- cme - just google it or go to cme.com for more info.

regrading your questions- totem- intentionally i did not use any indicators- all the zigzag is doing is just mark the legs so its clearer, but you really dont need it. the renko spectrum is not an indicator- its a chart representation like tick or a minute chart, the only purpose is to filter local noise and to make the chart clearer, you can try just regular renko or maybe even range, but i cannot help you with metatrader- sorry.

the method is empirical and does not need any indicators - although you can use any that you like to support an entry.

Jane

So, timeframe is 1min?

no carllos- you will lose your butt if you trade 1 min, this is a price related bar chart - similar to renko but its called renko spectrum which is unique to ninja trader- no idea if rj's renko fits other platforms

jane

First of all i wanted to thank everyone for the nice support.

Today was another very good trading day without any worries where the pivots or volume clusters or symmetry dots or cl levels or any of these hundreds resistance and support levels.

Again- today i am going to stay at the same level as yesterday , still no indicators and no countertrend and no higher level stuff.

http://imageshack.com/scaled/large/543/cymq.jpg

So started early at 8:50 am which is 5:50 my time, i saw that we do have a higher top so when i got that long signal at point 1 i did not hesitate and went long EVEN THOUGH THE BIG PICTURE TOLD US TO CONTINUE SHORTING FROM THE BIG DROP OF THE NIGHT.

point 2- same long with a stop bellow, keep in mind that even though the market tried to generate a lower high it did not succeed and as u can see the long was great.

point 3- same long- look at the delta between tops- meaning trend is strong- no need to measure with any indicators.

point 4- here is the EXPERT TIP i will add now- as you can see point 4 would be a loser- BUT- and this is a HUGE but and you have to pay attention.:

YOU HAVE TO MEASURE THE FIBS EXTENSION BETWEEN THE TOPS- they are actually your best measure for the trend strength. once its 1.272 to the tick which happened here-YOU DO NOT ENTER WITH THE TREND BEFORE a retracement of at least 61.8 , so if you look there - i skipped point 4 long because it did not made the 61.8 and i entered at point 5 which was a great winner.

point 6- same rule but here we had no noise- and it was again a great long.

point 7 ended with a break even.

point 8- VERY IMPORTANT-you would imagine that since point 7 low was broken we would look for a short- basically you would be right but 1 tick is normally nothing- actually if you look we hit a support of point 6 and we got a long entry so take it.1 tick actually is the bet divergence - because all the breakout shorts would bail and reverse while we go long and laugh.

point 9- here i got small legs i just stopped and waited , same with point 10.

point 11- i saw a nice double top with a short reaction so i took it- was a great short.

point 12- same short - watch the nice delta.

point 13- was a little confusing but as i said before- we only broke point 12 by 1 tick so i took this short with a tight stop and it worked perfect.

point X- its the double bottom between 13 and 14 - forgot to mark it- was a perfect double bottom and i took the long, i expected to have a new high so bailed only with 2 points damn lol.

point 14 was a mystry- no idea why where so i stayed out.

same with point Y bottom before 15.

point 15 took a short for 1 tick loss and then for desert took the nice long of point 16.

i will not tell you how many points i made but you can figure it for yourself.

i am just trying to explain that trading the es is great- you have time to think and unlike the cl your stops even though i use market stops are normally very small.

here is the link again ///// http://imageshack.com/scaled/large/543/cymq.jpg /////

Enjoy and hope it helped.

Take care

Jane

Hello Jane and thanks again for your inputs. I tried yesterday to follow your approch and I must say that charts look perfect, but always after! In live trading, it's totally diffrent. I could never be sure that the zig zag extremity will hold and it won't be a higher/lower point after that moment. In fact I could never be sure that a new wave begin for real until it is obvios and too late. For this reason we would need as many tips for filtering the entries as you can give :) 1. Can you tell us how many points represent a renko brick on your chart (what is the setting of your renko spectrum) and also the settings of your zig zag indicator? 2. Another observation: in the first analysis, first chart, you said to be cautios and do not trade more then 2-3 times in the same direction. This criteria didn't seem to matter much on this second chart. 3. When do you exit?

Please correct me if i´m wrong:

1. Stop from a long position is after first bar reversal to oposite side

2. Stoploss from long position is 1 tick bellow low V of entry.

 

Can you please tell me what time framme you´re using?

I´m Trying to translate this to MT4 and currency trading.

 

Thank you

 

Can you please tell me what time framme you´re using?

I´m Trying to translate this to MT4 and currency trading.

 

Thank you

 

Renko bar or Renko chart is not related to time frame, but only to price movement. One brick can form in minutes or in hours. You attach the EA to 1 M chart and then open M2 offline chart, same pair.

Carlos

I am using a 2 tick renko bar- the one you see is special for ninja trader and its called renko-spectrum.

Basically you can use any renko as long as you see a nice clear picture of the individual swings.

This is not written in stone, and i suggest to you to go to the ninja trader forum where i posted the same , but there is much more involvement and action.

Once you get an entry your stop should be 1 tick bellow/ above the current pivot which normally should be 4-5 ticks on the ES.

DO NOT TRADE LIVE before at least 4 weeks of consistent positive results.

Hi Jane

I registered at ninja trader forum (http://www.ninjatrader.com/support/forum/) and did a search on "jtmai" and user "traderbeauty" nothing come up. Can you please send the link where you post you material?

 

Thankx

Hi Jane

I registered at ninja trader forum (http://www.ninjatrader.com/support/forum/) and did a search on "jtmai" and user "traderbeauty" nothing come up. Can you please send the link where you post you material?

 

Thankx

 

:) She meant Ninja trader section on this Indo Investasi forum: http://indo-investasi.com/showthread.php/22713-JTMAI-ES-Scalper-V1-1-no-indicators

Reading all posts there! It seams TB stoped posting :( Damn!! I know the feeling.. I have a thread on a sports trading forum where i teach newbies how to trade. Sometimes i get hammered there though i post screenshots with my trades. There is allways someone trying to discredit our free dedication. Hope to hear from TB again.

I decided to continue posting- just go to the ninja trader forum to see the continuation.

http://indo-investasi.com/showthread.php/22713-JTMAI-ES-Scalper-V1-1-no-indicators

Take care and thanks for your support.

Jane