Es - 10/29/03
- Thread starter acrary
- Start date
Based on one contract?
If so, wow, and wow.
Would you trade a range like yesterday and get that many points, using shorter timeframes ( like 1m or 3m) or the typical 5m time frames,
or a combo?
thanks,
jd
No wow. As I said earlier, yesterday was unusually easy, at least for the strategy I employ. I certainly don't pull in twice the range every day, though I keep trying.
As to timeframe, I use the 5m and 1m. When the price approaches a pivot or S/R level, I start looking for divergences in an oscillator on the 1m. When price starts moving in my direction, I enter.
I've tried the 2m and 3m, but I just don't see the point. I can blend bars in my head, but I rarely benefit by doing so since I've got the 5m there for context (I also have the 15m up, but very small, mostly for important highs and lows).
Short at the 10:10 (5 min chart) candle at 1044.50 and covered at the 10:25 candle with a price of 1042.75 for +1.75 pts for 10 ES on that trade.
Short at the 13:35 (5 min chart) candle at 1046.50 and covered at the 14:00 candle with a price of 1044.25 for + 2.25 pts for 10 ES on that trade.
I was in other SHORT positions during these times, but here are the two trades you wanted to know about. Hope this helps.
Chris
Short at the 13:35 (5 min chart) candle at 1046.50 and covered at the 14:00 candle with a price of 1044.25 for + 2.25 pts for 10 ES on that trade.
I was in other SHORT positions during these times, but here are the two trades you wanted to know about. Hope this helps.
Chris
My intent of my original statements and questions to you was not to say I was right or you were wrong or what ever, but rather to get some feed back on my analast. To see if I am on to something or just lucky today.
As for yesterday, I made two trades in the morning for +8, and then gave it all back in the afternoon (in three more trades).
Just trying to learn something from all this.
sulong
I can't say whether you were just lucky or not since I don't know your strategy. Bracketed trades are not part of my strategy, so that was not an option for me. As for choosing one direction over another, I do have a footnote in my strategy notes about the "standing launch", but they're so rare that I don't have enough stats on them to trade them yet.
Therefore, if you shorted this morning for specific reasons that were detailed in your strategy ahead of time, then you can chalk up one more success. But if you just guessed or felt your way through, then you were just lucky.