Daytrading ES

GotherL said:
I really don't waste my time trying to predict the market anymore after transitioning to futures. With options it makes more sense since your holding for longer periods.

Just trade price action and go off the 5m, 1m charts.
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If you can (accurately) predict the day or some part of it - surely it's not a waste of time.

Regardless, it was you who said that "giving out profitable calls is easy".

You also said that trading was hard, so maybe "just trade price action" isn't the whole answer.

I think we're done now. :)
 
Sekiyo said:
ES will close +1.5% from previous close. :p
With a 1% conviction of course. 100/1

80% that it closes below +1.5%
20% that it closes above +1.5%
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close or settlement price?

what sessions are you referring to?
 
Laissez Faire said:
Regardless, it was you who said that "giving out profitable calls is easy".
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Well easy for me but that may not be the case for everyone.

But for certain it's easier to post winners than trade winners in a real money account.

I know after 4 years of discord.
 
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GotherL said:
My biggest issue with trading the ES are the Algo's constantly hunting your stops & chopping the market in a range instead of breaking out on one side.

Makes it worse when I overtrade and after noon when the Algo's take over. Force of habit!
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Hunting stops or taking profits?

If you were forced to only take limit entries going in one direction and size into a position where would you be taking profits?

The ES only trends about a third of the time, the remaining days are two sided.
 
virtusa said:
Depends on the timeframe you are in. I see profitable trends, good for a few points, everyday.
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Well we're in a daytrading thread where people are talking about daily behavior...in my opinion, intraday timeframe doesn't matter in defining daily movement.

There are nested trends in trading ranges on lots of different intraday timeframes...doesn't mean the day was a trend day.
 
Georpe said:
Well we're in a daytrading thread where people are talking about daily behavior...in my opinion, intraday timeframe doesn't matter in defining daily movement.

There are nested trends in trading ranges on lots of different intraday timeframes...doesn't mean the day was a trend day.
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If you want to be a daytrader you need intraday trends, not trending days. Daytraders trade several times a day. I don't know any profitable daytrader that watches the trend of the day to trade on.
Now I understand why you say that "Algo's constantly hunting your stops & chopping the market in a range instead of breaking out on one side".
What you do will never work well for a daytrader. These algo's behave like daytraders, you not.
 
virtusa said:
If you want to be a daytrader you need intraday trends, not trending days. Daytraders trade several times a day. I don't know any profitable daytrader that watches the trend of the day to trade on.
Now I understand why you say that "Algo's constantly hunting your stops & chopping the market in a range instead of breaking out on one side".
What you do will never work well for a daytrader. These algo's behave like daytraders, you not.
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Maybe you should re-read the thread and try to be less rude. I never wrote that, GotherL did.

I would say that it is very beneficial to a daytrader to understand market structure and the general behavior of the product(s) they trade. Having an idea of where the market could go on any given day is helpful for intraday trades if one can stay flexible.

You have no idea how I trade because I haven't shared details. I hate to break it to you, but you don't know everything and there are many ways to trade the market & make money.
 
Georpe said:
The ES only trends about a third of the time, the remaining days are two sided.
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I am well aware the market ranges 75% of the time but knowing something doesn't mean you can apply the knowledge. Just as I know smoking is bad it doesn't stop me from doing it anyways.

Yes, I really need to work on my discipline and get my shit together.
 
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Long this dip intraday. Not getting greedy, but should see a move towards the high again. Might have the HOD already.

Could trigger a reversal if we dip below 55, but that appears less likely today.

EDIT: Wrong thread, but so be it. :)
 
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