yes and no
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ES Daytraders, Whats max heat you will take ?
- Thread starter tradertony76
- Start date
Volente,
Why would you call me porgie? He got booted and everyone is better off. cheers
Why would you call me porgie? He got booted and everyone is better off. cheers
So far, the big difference that I am seeing on this thread lies not so much in the techniques but in the mental approach to trading.
Focused repetion is the key to mastery ... be it sport, music, language or trading.
The system of over trading firstly on the sim is exactly the same over training technique that I was taught in sport all those many years ago.
When we came up against barriers we were forced to over train until our minds broke down and we finally did what we were supposed to do.
The Seals and the SAS employ this training.
Where your stops are set and the amount of individual trade risk that you accept is entirely dependant upon the amount of focus that you bring to bear.
If you are not so hungry that it hurts, you will be destined to bat in some where between failure and mediocrity
Focused repetion is the key to mastery ... be it sport, music, language or trading.
The system of over trading firstly on the sim is exactly the same over training technique that I was taught in sport all those many years ago.
When we came up against barriers we were forced to over train until our minds broke down and we finally did what we were supposed to do.
The Seals and the SAS employ this training.
Where your stops are set and the amount of individual trade risk that you accept is entirely dependant upon the amount of focus that you bring to bear.
If you are not so hungry that it hurts, you will be destined to bat in some where between failure and mediocrity
If you decide to take these comments personally, then so be it, there is nothing personal being offered.
For that matter, there is nothing personal about trading and risk which brings us full circle back to this thread
"ES Day Traders What is the max heat you will take"
Somebody mentioned that an overnight position would give them a heart attack.
I also am in this same boat.
The idea of going to bed on an open position is as foreign to me as gambling.
Some else mentioned wriggle room upon entry.
Try dropping down to a lower level, where the battle for the tic becomes more visible ( I only use tic charts)
Keep that battle to the left hand side of your entry and watch your filtered T & S very carefully.
Watch the delta accumulate when the price is stuck on a tic or two and be aware whether there has been a fake move before you enter.
For that matter, there is nothing personal about trading and risk which brings us full circle back to this thread
"ES Day Traders What is the max heat you will take"
Somebody mentioned that an overnight position would give them a heart attack.
I also am in this same boat.
The idea of going to bed on an open position is as foreign to me as gambling.
Some else mentioned wriggle room upon entry.
Try dropping down to a lower level, where the battle for the tic becomes more visible ( I only use tic charts)
Keep that battle to the left hand side of your entry and watch your filtered T & S very carefully.
Watch the delta accumulate when the price is stuck on a tic or two and be aware whether there has been a fake move before you enter.
"How can you say that many traders have setups have 80% winning trades"
i said MANY setups have that win ratio
not traders.
i have 21 setups (for my futures account)
several have over 80%
many of those employ a target/stop structure like
target (1st, 2nd etc)...................................... stop
6...............................................9
9...............................................(stop moved to entry minus 2 after first target met)
third target more discretionary
i said MANY setups have that win ratio
not traders.
i have 21 setups (for my futures account)
several have over 80%
many of those employ a target/stop structure like
target (1st, 2nd etc)...................................... stop
6...............................................9
9...............................................(stop moved to entry minus 2 after first target met)
third target more discretionary
These days, "overnight" trading in ES doesn't exist. Globex volume and open interest is high enough to take any retail trader out with same degree of risk as intraday.
The difference now is purely mental... some traders <i>feel</i> more in control while they are awake and in the chair. Trade thru a couple of surprise interest-rate cuts in the pit session and see how price action blows thru all levels of stops, right in front of our disbelieving eyes (been there twice)
The difference now is purely mental... some traders <i>feel</i> more in control while they are awake and in the chair. Trade thru a couple of surprise interest-rate cuts in the pit session and see how price action blows thru all levels of stops, right in front of our disbelieving eyes (been there twice)
Overnight doesn't exist in my business strategy.
Only play when I am on. I watch my trades through and don't let it ride while I leave for a while.
I have played at all hours but never just let it sit.
Only play when I am on. I watch my trades through and don't let it ride while I leave for a while.
I have played at all hours but never just let it sit.
Quote from austinp:
These days, "overnight" trading in ES doesn't exist. Globex volume and open interest is high enough to take any retail trader out with same degree of risk as intraday.
The difference now is purely mental... some traders <i>feel</i> more in control while they are awake and in the chair. Trade thru a couple of surprise interest-rate cuts in the pit session and see how price action blows thru all levels of stops, right in front of our disbelieving eyes (been there twice)
<i>"Overnight doesn't exist in my business strategy.
Only play when I am on. I watch my trades through and don't let it ride while I leave for a while. I have played at all hours but never just let it sit."</i>
At this point in time I don't hold overnight either, but wouldn't be afraid to at all in the S&P.
I can tell you this... if we trade long enough, we will see intraday event(s) that blow thru resting stop orders like they aren't even there. Had 9/11 tragedy happened at 12:20pm EST lunch lull, day traders sitting at the screens would have watched price levels fall off their domes.
Only play when I am on. I watch my trades through and don't let it ride while I leave for a while. I have played at all hours but never just let it sit."</i>
At this point in time I don't hold overnight either, but wouldn't be afraid to at all in the S&P.
I can tell you this... if we trade long enough, we will see intraday event(s) that blow thru resting stop orders like they aren't even there. Had 9/11 tragedy happened at 12:20pm EST lunch lull, day traders sitting at the screens would have watched price levels fall off their domes.
Quote from austinp:
<i>"Overnight doesn't exist in my business strategy.
Only play when I am on. I watch my trades through and don't let it ride while I leave for a while. I have played at all hours but never just let it sit."</i>
At this point in time I don't hold overnight either, but wouldn't be afraid to at all in the S&P.
I can tell you this... if we trade long enough, we will see intraday event(s) that blow thru resting stop orders like they aren't even there. Had 9/11 tragedy happened at 12:20pm EST lunch lull, day traders sitting at the screens would have watched price levels fall off their domes.
This has always botherd me as well.
I run a 4 pt hard stop on ES, which could easily be overwhelmed.