Es - 10/29/03

[dbTrader]

Hey Folks,

This is a cool little intraday ES chat you've recorded here. I would like to invite you guys (on behalf of the other 6-7 regulars who sit in the Chat room with me) to come talk like this on the Chat. There are 2 rooms now - one for the less serious, where we are not mean or anything like that - ABs is the correct term (eh, TraderKay?).

Peace.

 

[pspr]

Quote from AMT4SWA:

Finished the day at +15.50 pts per contract for 10 ES... In several separate SHORT positions when the drop hit which helped for a good day.

Chris

You need to give us some lessons, Chris.

Wally

 

[AMT4SWA]

Today was as follows after a full review (25 trades for + 17.0 pts per contract for 10 ES) ;

1 Loser @ -3.50 pts
1 Loser @ -1.00 pts
1 Loser @ - .50 pts
1 Flat @ 0.00 pts
2 Wins @ + .25 pts
2 Wins @ + .50 pts
2 Wins @ + .75 pts
8 Wins @ +1.00 pts
2 Wins @ +1.25 pts
3 Wins @ +1.50 pts
1 Win @ +1.75 pts
1 Win @ +2.25 pts

My biggest loser (-3.5 pts) was a SHORT position I covered at the end of the day that I decided not to hold overnight. I took a lot of small hits today that I do not normally go for but the range was tight today so I made adjustments.

Chris

 

[acrary]

Quote from traderkay:

i thought acrary is a 100% systematic trader. hmmm meaning mechanical.

100% Discretionary.

I use my models to indicate locations where the market acts non-randomly. I trade against them and use them as straw men traders. This satisfies my need for competition and keeps me on the right side of the market when I'm not trading well. They also help me determine position size so that I know when I should bet big or keep it small.

 

[dbphoenix]

Quote from jmis:

dbphoenix,

thanks. i didn't mean having a mentor as in trading someone else's system at all. i meant to be able to pick that person's brain, understand the thought process, subtle things that you see but inexpressible, ya know what i mean?

Indeed, and that's supposed to be what these boards are for. Look over those posts on the pivot levels and maybe we can all take it from there.

 

[steve46]

Chris:
Thanks for the review of your day. By the way, do you trade through the lunch hour (EST)?

Fast Trader:
I trade the DAX because it seems to trend more often and with more "impulse" moves. I watch bid/ask noting the number of contracts that move through in a particular time period and other than that, I just use price levels (S/R) and my feel for the action. One note of caution is that you have to have your risk management "ducks" all in a row. If you become complacent, you will at some point find yourself in a position where the market spikes or gaps, and runs away from you. if this happens, you may experience a sinking feeling in your gut as you realize that either A.) your stop is going to get hit before you can adjust, or worse B.) you didn't put in a stop and the market is already 10-15 pts south of you and moving fast. Early on in trading this contract, I can still remember vividly executing my stop order and looking at the screen in disbelief as the number -$1,500 popped up (for just 2 contracts). I just couldn't believe a market could move so quickly. I don't wish that on anyone, and hope you will benefit from my experience. I think anyone with average skills can learn to handle that contract provided they exercise a little caution. Best of luck to you. Steve46

 

[AMT4SWA]

I trade seconds after the open to seconds before the close.....as long as the neon "OPEN" sign is flashing.

 

[EMini-Player]

Quote from AMT4SWA:

I trade seconds after the open to seconds before the close.....as long as the neon "OPEN" sign is flashing.

In your case the "COLLECT MONEY" sign or maybe the "ATM" sign

-Fast

 

[AMT4SWA]

"There is money in every candle"

 

[EMini-Player]

Quote from AMT4SWA:

"There is money in every candle"

Yes...the potential to make OR lose money in every candle

-Fast