Search results

GTS, The problem with that is the reversal trade has only happened about 3-4x in the last two months.

Steve, I am very thankful you took enough of an interest to post your thoughts. I have lurked on ET for several years so I know your skill level. I think it will be a good tell how it performs during the summer since volatility/volume will shrink. My goal of 1-2 points is a function of the...

Steve, You are correct. Once it goes through the stop the MIT order is in opposite direction. This order has a limit of 3 points and stoploss of 1-2 points depending on volatility.

Steve, I totally agree that we've had an incredible run and the hit rate has to be high. At least for the last two months I've only had 3 losers per month. Also as I mentioned before,once the trade has gone through the stop I have a MIT order in the opposite direction to reduce the loss in...

Steve, For the last two months, this strategy has netted average of 20+ points per month.

Going live today with this strategy..long ES @ 1516 target 1518 stop&reverse @ 1510

Pekelo, You hit it on the nail. I did some numbers on the back of a napkin and thats when I decided all I need is an average of 1-2 points a day and in 6-9 months we're talking some serious money. As fearless stated, there seem to be many opportunities throughout the day...it seems if one...

Ursa, How will I know if a given setup will workout or not unless I take each one with goal of meeting the 2point target. The normal volatility is not high enough to take the inverse of my trades and be profitable. However, if blows through my stoploss,historically it tends to continue in...

Fearless, I appreciate your honesty. Since these are the constraints I can trade under, I will pursue them and let you all know how I fare. Thanks again for all your feedback.

increasenow..i dont use any platform..just Xpresstrade as my broker. They allow me to enter bracket orders which is what I plan on using for my style of trading

This is based on backtesting. Once it goes in 1 direction a certain number of ticks..the momo is likely to continue at least enough to allow you to reduce ur loss. The point then is not to make a profit but just reduce loss size.

Fearless, I am trying to find the right medium between high expectancy and reality. While most of the successful ES guys trade fulltime, I am at work during work hours. So I need to enter my bracket orders basically before market opens. I plan to enter a limit where I want to enter with 2...

Fearless, I understand your concern with the risksize. While I am not looking for 100% accuracy, my expectation is to be on the right side of the trade most of the times. Furthermore, if I am wrong, I will stop and reverse to reduce the loss incurred. In my paper trading, almost always I...

Thanks JJ, I follow yours and Apex's trades in the ES Journal and hold both of you guys in high regard. I have learned alot watching you guys trade and hope to emulate your success with my smaller targets.

Thanks for the links Steve. My plan is to risk 15% of my account per trade with a stoploss of 50% of the ATR14. I deposited 10,000 since it seems this is a large enough amount to cover my drawdowns, yet small enough to not be significant in case I blow up the accou,nt.

Got it... it seems the best traders use price only w/o any indicators. Thanks again!

Fearless, I find your comments enlightening. Can you explain how to "see" the ledge? Can I see this via range bars or am I not getting your point?

Thanks for all your feedback. Regarding 100 pt DD...I am not following why I would take on that type of risk to make a mere 1-2 points. It would seem if I enter near a high probability area ( say near S1 or S2 pivot) I should be able to keep my stops tight ( 1/2 the ATR).. disagree? BTW...

Hi all, New to futures and am setting what I hope is a reasonable goal of 1-2 points a day. I'm looking into TICK strategies, Pivots and A/D. Would love some feedback on what might be useful in my goal. BTW, I would like to automate this since I work fulltime and cannot be watching each...