Daytrading ES

this is a chart of today's session from 1600 to 1600 so i have a sell "red" a buy "green" and another sell "red"

candles? is this based on hope, seminar, book, hunch? stop what your doing and get a edge first.

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MarkBrown said:
stop what your doing and get a edge first.
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What you're showing is not what is going to work for most retail traders. Linda Raschke isn't scalping micro-ticks on an microsecond chart. She and most of the market wizards who traded intraday do or did it much more like the OP is doing it here.

OP is going to do fine if he works the plan he's working. If he lets his emotions get the best of him, no edge will save him or his capital.

EDIT: @MarkBrown it appears I read your post incorrectly. I thought when you said "1600 to 1600 you literally meant a second or two. Now that I see the price scale I assume that chart is Friday close to Monday close. When I clicked on your chart there is no time scale visible to me, and the price scale was off screen as well.
 
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Maverick2608 said:
You are trading one of the absolute most liquid thoroughy analyzed to pieces instruments in the world.

It always amazes me that want to be traders do not understand that if you want to find small cracks of inefficiency you have to look at instruments, time, and strategies that do not attract much attention.
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Could you expand on this comment?

For directional (day) trading it seems to me like the e-mini S&P 500 futures have been a fantastic trading instrument for the last few years. The liquidity is there to get quickly in and out with small trading costs and the ability to move size. Most importantly it moves sufficiently on most days (daily RTH range routinely > 50 points) such that there's ample opportunity for profit on a daily basis.

Your comment would have made more sense (to me) during low volatility periods with very little movement. If I recall correctly we had some years (2013?) where the average RTH range was 10 points for an RTH session for months at a time. That's when (day) trading ES or similar gets difficult. These days the market can move 10 points in a minute.

wrbtrader said:
Agree. Further, Emini ES futures is not a suitable trading instrument for beginner traders nor for traders with discipline trading problems.
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In contrast - what would you say is a suitable trading instrument for beginner traders or traders with discipline trading problems?
 
today is a rare day 24 hour es
  • inside day
  • over sold closes 3 days in a row
  • narrow range 4 days
  • narrow range 7 days
  • currently trading at one half of the average daily range of 70 points

4049.25
4027.50

target prices

3984.00
3962.25

all above published toby crabel stuff i watch every day.
 
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