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And what does that tell us about what to expect for today's session in ES?

Came close in ETH. I think we have a good chance of printing 3287 today. Should be good for a great bounce. Either way - odds are strong we'll see a higher close than we open. Good luck all. :)

I don't think we'll see a sustained trend higher until post-election - barring any news items (vaccine, stimulus, etc.). So, generally, it's good to be prepared for some range bound action. Since the volatility is so high - there's still very nice moves (mini-trends?) 10-30 points up or down to...

Often, but not always, there's some consolidation after a major move. Monday was a major move down, so Tuesday was an expected consolidation day on that basis alone.

2 out of 3. Close, but no cigar. :p Note that every rally since the 13th have failed. I have 3290/87 as a possible target by end of week. Sold off quite nicely already in ETH.

I'll see if I can find time for that later on, but I'm sure you'll see the major swings on a 1-minute chart. Today is an expected rangebound / Inside Day with a positive Close. That prediction was posted yesterday. So. A good day for buying lows and selling highs without being too greedy on...

7. Buy swing lows and sell swing highs. :) This works both in a range bound market and a trending market, but it's in a range bound market it really shines. 11 entry points so far this session. The last recent buy was 93,25 (swing low).

That's a mighty tight stop on the ES in this environment. Your entries truly are great if you can use such tight stops now. Note that the comment was a reply to Hilmi, not sstheo. As such, it shouldn't be in this journal probably. I think I got the gist of it, though.

If I may, I'll say it's a very interesting time to start an algorithmic trading strategy considering current market conditions. That's not knowing anything about your actual strategy, but I know from my own trading that these conditions are different than your average market conditions. And I...

True. But it sucks to lose money from 'operational failure', learning a platform and fat finger mistakes rather than the strategy itself.

This was I believe in the 70s, i.e., 50 years ago. What's the 30K equivalent today? If I recall correctly, Michael Marcus wasn't a day trader, but more of a swing trader or even position trader. Another key distinction is that he traded for a company. Not his own money. I also remember...

You're down over 30 % in 6 calendar days, yes? Unless your account is play money which you don't care about anyway, I don't see why you'd want to have skin in the game right now while working out operational problems and errors in your approach which seems to be the phase you're in right now...

Unless we have a very strong gap up by the Open - I agree on that. Ranging above Monday's Low is my expectation with a possible snap below and back up for a positive Close on the day. The less likely scenario is that we break Monday's Low and trade all the way down to 3300 as soon as today...

Where will you take profits? My prediction for Tuesday is Up / Consolidation / Positive Net Change and a hold above Monday's Low @ 3356. I do think it's quite possible we'll see 3300/3290 by end of this week or early next week, though. Good luck. :)

I agree with most of this, but, I think another distinction that needs to be made is that those who actually know how to trade generally won't have a desire to run a trading room or sell educational materials. So it's not necessarily true that trading can't be taught - it's just that those who...

It seems like I misinterpreted the statistic as 67 points per contract. Regardless, I'd say that anyone who's consistently profitable in ES or whatever market is doing really well. But like you pointed out earlier - he needs to maintain that high win rate. His strategy really depends on that...

67 ES points on a single day is a fantastic catch, @sstheo . Very well done! :)

I believe a few countries in Europe already tried it. At least they did in Sweden:

In the past - I would have agreed with this. There were periods of time in the past when the markets were moving so slowly that you pretty much would need to diversify and at least track two markets. But these days, any index futures really offer everything you need. And I imagine that ain't...

Respectfully, this is like comparing apples and oranges: automated trading systems versus discretionary/point & click trading. If you're fully automated - you'd definitely want to trade multiple markets. And if successful - you'd eventually need it because of liquidity constraints. That's why...