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I watched the 1000 tick chart for ES today and noticed that the price bounced off of the 50% retracement line from the overnight h/l 4 times since 10:30am and scalping each time would have been successful. It is uncanny how often it touched the line and bounced.

The fact that this was a sim doesn't bother me. We all have to do our due diligence. I went over the 7 trades he posted and noticed that if he had given the entry an extra 0.25 and took only 0.75, all the trades should have worked. His system is worth looking at and I appreciate this thread.

Thanks. I appreciate it. I found your article and downloaded it. Thanks for your contribution.

Can you elaborate on the fib levels you use and how you draw them? Thanks

If ES is arb'd to the index, then isn't all this volume you are seeing just arb volume? I just don't understand how any one trader can move the ES that much with arb going on.

ivolatility.com. They have eod and tick data for options.

I have heard about these "mentors" a lot. Where do you find a credible mentor?

I have been watching the SPY for years and have noticed the same thing. In the smaller tfs there several trends per week, and sometimes more than one a day.

I think the market is waiting for the earnings reports.

They aren't wrong. At my age I don't want to see my 401k dip so low that it won't recover before my funeral. lol. I changed my allocations to mostly bonds last week.

I have been using hard stops and they are killing me. I have to rethink my risk management.

Do you use hard stops in your trading?

I use SierraChart with Rithmic and it drops the feed and reconnects once or twice a day. RTPro doesn't. Sure seems like a SierraChart issue to me.

Nothing. An engineering education is counter to trading, imo.

Ninjatrader

The way I understand it, the prop firm wants you to trade most of the time. In the gauntlet they want to know what you do on a daily basis. In your case, you did not protect their capital, let alone your profits.

Also Texas DFW.

I am doing the gauntlet myself. I am having a little difficulty with ES. I am down a little over $200 over half way through. I am considering a restart later since I don't see a way to gain over $2500 in a month the way I trade.

Good luck. BTW, what instrument are you trading?

Yes, you still pay the fees on exit. On one of my trades last year for 1 contract I was charged 1.13 to open and 0.14 to close. BTW commissions are capped to $10 + fees for anything over 10 contracts.