Components for discretionary rules over a mechanical session open breakout system

Approach on using a Swing Trading system view to exercise discretion over a mechanical Day Trading System

How can you filter out more losing days and increase win ratio while not adversely changing risk reward in a day trading system…? Some might say you can’t.  How would you be able to select trades opportunities that resulted in this kind of move?

MTDS SDK Session Open Range Trader - Open Source Strategy Trading Forex GBPUSD
MTDS SDK Session Open Range Trader – Open Source Strategy Trading Forex GBPUSD
MicroTrends Fib Grid Coffee Live Trade
MicroTrends Fib Grid Coffee Live Trade

They would be the people who probably did not learn to swing trade first… These are the people to avoid. The Statistics are you should start life off trading position, swing then day trading or you are probably  going to lose… even if your day trading system shows great potential…

The reason is you need to see the bigger picture and the higher time frames, ranges and price cycles, higher time frame price analysis – look for a market that has ripe conditions – understand what makes the market move and how that looks for day trading… day trading ranges and moves are more symptomatic of large smart money swing trading – versus the effects of retail day traders… time and trend and large money/pressure makes it move. Recognize on higher time frames where the significant buys and sells are likely and – then try and align with this analysis trade it perhaps intra-day…. perhaps a simple way to do that is with the session open looking for it to break significantly and stay in – let the winners run… the cliches really do work in trading when used correctly.

So here is one way you can do this using the components inside the MicroTrends NinjaTrader Framework + using the analysis to guide your decision as to when to let an automated trading system enter a trade for you – the idea being you are increasing the odds in your favor… instead of relying on a blind mechanical system using a parameter set that is tested to be robust, offering only pure probability and win ratio/ risk reward /expectancy to do it for you.

>>>Get Started for FREE Download now – There is no risk, no obligation and no credit card required. Free for Demo & sim Trading – license required for live trading only!

1. Add MT Framework NinjaTrader indicators to a Futures, Stocks or Forex chart with session template Default 24/7   90 to  180 days+ is best
2. MT ATR Range Grid Pro
3.MT Levels Dynamic Fib Grid Pro

Real statistics provide “Range Seasonals” – which days are good or bad – in terms of profit opportunity?

MT Range Grid and Fib Grid used together
MT Range Grid and Fib Grid used together

>>>Get Started for FREE Download now – There is no risk, no obligation and no credit card required. Free for Demo & sim Trading – license required for live trading only!

Scanning for Ripe Market Conditions – Planning the trade in advance

Multiple time Frame- Text Book Higher Time Frame Setup and Intra-Day Trade Entry
Multiple time Frame- Text Book Higher Time Frame Setup and IntraDay Trade Entry

So in summary we are looking to take signals intraday that are aligned with potentially huge moves!
So you risk a small amount of money and realize a multiple 10 times larger for example…

MTDS USAR AutoTrader - Discretionary Controls for realtime strategy interaction
MTDS USAR AutoTrader – Discretionary Controls for realtime strategy interaction

You stop wasting and shooting your ammo off – until its really a good identified target – then you trade… but with rules… to stop over trading…. trade less and achieve more… of course this is not going to make the broker rich but you can’t please everyone 🙂

MicroTrends Fib Grid Coffee Live Trade
MicroTrends Fib Grid Coffee Live Trade

fib_grid_trading_-_monthly_session_open_breakout sor_fib_grid_explained trade_man-_example es-short-trade-management

mt_higher_time_frame_scanner_signals_and_charts multiple_signal_market_analyzer multiple_time_frame-_text_book_high_ttime_frame_setup_and_intraday_trade_entry 00_mt_framework_multi_time_frame_tradig_system 2016-04-12_0319

>>>Get Started for FREE Download now – There is no risk, no obligation and no credit card required. Free for Demo & sim Trading – license required for live trading only!

 

MTDS Session Open Range Trader – Quick Start for Forex Automated Trading

Quick Start Video Guide for NinjaTrader Forex Traders

MTDS SDK Session Open Range Automated Trading System for Forex
MTDS SDK Session Open Range Automated Trading System for Forex

Text Book Trade Realtime Trade Example

MTDS SDK Session Open Range Trader - Open Source Strategy Trading Forex GBPUSD
MTDS SDK Session Open Range Trader – Open Source Strategy Trading Forex GBPUSD

Workspaces and Templates

The workspaces and templates used in the video are available for educational testing purposes from the MicroTrends downloads server

>>>Get Started for FREE Download now – There is no risk, no obligation and no credit card required. Free for Demo & sim Trading – license required for live trading only!

MTDS Session Open Range Breakout AutoTrader for NinjaTrader

MTDS 7.0.1.6 – Installation of SDK and Adding of Session Open Range to a chart – Quick Start Video

MTDS Quick Start Video for futures Traders

>>>Get Started for FREE Download now – There is no risk, no obligation and no credit card required. Free for Demo & sim Trading – license required for live trading only!

MicroTrends testing the first NinjaTrader 8 Closed Beta

NinjaTrader 8 is looking very good…

Here is our first system in NinjaTrader 8 already in testing

NinjaTrader 8 - MicroTrends USAR AutoTrader
NinjaTrader 8 – MicroTrends USAR AutoTrader

Future Plans include posting signals from this to the blog and to twitter/facebook