ES Greenhorn

Quote from IQ139:

and how exactly will you establish daily direction

I went through all these things,

good luck, you'll need it, cause what you are doing now will fail

I would gladly tell you why your plan will fail cause I don't get joy out of your pain

unfortunately I pissed blood and can't say shit :(
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High IQ you have there.... I have heard IQ is inversely correlates trading performance.. LOL...!

Trust me I have seen the madness of the markets and understand my odds are terrible... Thanks..
 
Quote from ammo:

r 45,i dont know your system so the 2 point stop may be ok,i prefer to draw trendlines and place stops above or below those,the whole idea of stops is stagnant and works in theory but in live trading they are targets for stealing,i havnt found success with them and not using them has also proved expensive
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I have done some sim trading and have found exactly that.... Once you isolate price levels it seems you won't get that price.. competition is fierce in ES. And yes the stealing is rife.

Yes I plan to use trendlines ALL THE TIME.. I have noticed most days there is a very clear trendline at least half the day long that is faded.. Problem is drawing it too early (too steep) when it is unlikely to be the main one... This method along with price levels the only way I can imagine sanely handling ES other than scalping..
 
We know 788 crucial.. if 790 or higher holds then another trip to 800... If 788 is not held we could decline from open.. SP rarely holds over 2.5 percent gaps.. 780 (has been easily violated lately so not that strong), 775, 771 lower levels..

Incredible the effect Tim STILL has.
 
Quote from IQ139:

ammo and OP

this is depressing

ES doesn't care about your 2 point stop nor does it care about ammo's trend lines

ES is a psychotic animal on cocaine, it bites it scratches it spits

one moment it hides the next moment it doesn't want to hide even when you are shooting at it

very bad little kitty........bipolar little kitty
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The stop is THE toughest thing to deal with.. The market seems to do it's best to make you kick the habit but you simply cannot give unlimited leash to the beast.. Prime example this Morning.. 788 short would have been kicked out for an unnecessary wasted trade..
 
Days like today.. Market was so steep early there were no sane TL's to draw.. Not a good day.. done.. I am reasonably accurate early to figure direction and was right again today but trashed the trades early that should have been kept..

Feels quite different from Sim acct trading..

IQ139 and monti1a may have been right...
 

Attachments

Considering the atrocious day.. making a small adjustment...

As soon as day's direction is clear will take a trade as close to support as possible and set 3pt stop. If it gets taken out, will try another halfway through session around 1pm for a second trade with the same 3pt stop.
 
Quote from retire45:

Considering the atrocious day.. making a small adjustment...

As soon as day's direction is clear will take a trade as close to support as possible and set 3pt stop. If it gets taken out, will try another halfway through session around 1pm for a second trade with the same 3pt stop.
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You can't do that.

Now you have to start over again and properly test your system.

You can't just chang-it-up in the middle of the game and expect to go forward successfully if you are trading a cash account.

Good Luck
 
In the 2 weeks simtrading (I know not very long) 80% of the time my first trade, allowed to run, would have been very profitable. The decision on the day's direction not easy to test (as it is mostly between the ears and price supports.). The closest I can come to testing is to determine how often ES travels in one direction only first, say 3 hrs of the day as this is the basis of my 'system'. Addditionally, how often does ES "infill" candles and when during the session does that tend to happen.

As far as I can remember (years), there tends to be a morning trend, a rest mid-day that either continues the primary trend around 1:30 to 2:00pm or reverses the day (mostly occuring at market tops or bottoms).

Thanks for your comments... I didn't think I was significantly changing my plan.
 
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