Strategy settings for ESTX50
Daytrading Breakouts in the ES
- Thread starter Johnny Rotten
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Strategy settings for DAX
Four market analysis baby! The next bar may have gone lower in the DAX but it didn't in the ES. It was valid to trade. Except for one minor detail: you already made your money and should not be doing anything at that time!
Think of trade selection as sitting four feet back from the screen at looking all four symbols. Over time, you learn to feel which trade selection requires the 100% enforcement of all rules, and which rule on occasion can be 'bent'.
BTW, the miniumum tick in the DAX is 0.50, so your prices are off.
OT = Window is Always on Top (YES, when trading!)
AT = Automated trading ...not relevent unless using another program like TradeStaion which can mechanically send orders off. Leave unchecked.
SS = Simulated Stop. This can be checked and unchecked while in the middle of a trade (can be used in conjunction with Ratio Trigger). Leave unchecked unless you really understand how it works and feel there would be a benefit for you. New users: forget about 'Simulated Stops' and ratio Triggers. Just focus on the basics.
Note, I have my TWS window also Always on Top, sitting underneath my NT window. It's very important to do a visual check in TWS that the orders NT is sending are accurate. If there are ever any discrepencies between TWS and NT, it is always TWS that reflects your real position.
JR
As what you may consider a member of the establishment, I must say that you have provided more substantive posts than people who have been around for a long time here, myself included. I thank you for the time you are taking to answer questions and post your strategy in detail. It's a breath of fresh air. (does this make me a groupie??)
Do you use any discretion in entering trades around the time that economic numbers come in. Ie, if a major number was coming in at 10am EST would you hold off on a 9:55 trade? Also, do you take into account S/R when entering trades. Ie, would you take a short knowing that there is major support 1.5es pts below?
PS, your earlier "starter for 10" comment easily gave you away as Brit/Irish. Your multiple use of the words "shite" and "bastard" makes me lean more to the Scottish side of Brit. Would I be correct?
As what you may consider a member of the establishment, I must say that you have provided more substantive posts than people who have been around for a long time here, myself included. I thank you for the time you are taking to answer questions and post your strategy in detail. It's a breath of fresh air. (does this make me a groupie??)
Do you use any discretion in entering trades around the time that economic numbers come in. Ie, if a major number was coming in at 10am EST would you hold off on a 9:55 trade? Also, do you take into account S/R when entering trades. Ie, would you take a short knowing that there is major support 1.5es pts below?
PS, your earlier "starter for 10" comment easily gave you away as Brit/Irish. Your multiple use of the words "shite" and "bastard" makes me lean more to the Scottish side of Brit. Would I be correct?
I'm looking at it, but, speaking as the Voice of Experience, this thread could become nearly impossible to follow if it takes off on various tangents.
Therefore, if you want to discuss application of this idea to the NQ, I suggest you start another thread in this same forum. That will avoid a great deal of confusion.
Just wanted to say thanks to Rotten and everyone else that has contibuted here. I suspect the info I got from this thread sellls for $1000's in the trade magazines.
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