ES Greenhorn

Quote from retire45:

What time block is considered the Globex session??
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Globex is the over night Electronic session, it starts up after the close and ends when the Merc re-opens.
 
Retire45,
Did you see the Volume spike of 5,346 on a 1mn bar at 8:54 pm last night. The norm is closer to 300 or so. Early buying opertunity for those who were watching.
 
Quote from Zodiac4u:

Retire45,
Did you see the Volume spike of 5,346 on a 1mn bar at 8:54 pm last night. The norm is closer to 300 or so. Early buying opertunity for those who were watching.
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Zodiac,

Was not watching at that time... Interesting these volume footprints. That is the "work" good traders get paid for above the others. This can take on a life all it's own.. Who needs sleep.. I think I could get used to the Night session. so technically clean.. 4 pts from 120.5 to 124.5
 
Quote from retire45:

Zodiac,

Was not watching at that time... Interesting these volume footprints. That is the "work" good traders get paid for above the others. This can take on a life all it's own.. Who needs sleep.. I think I could get used to the Night session. so technically clean.. 4 pts from 120.5 to 124.5
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Yes it is a clean time period to trade. Nighttime is the time period to learn how to read volume only because there is not a lot of it and it’s certainly easier to notice when there is a spike in volume. It takes some practice just look at all the pullbacks or tops. What do you see after a spike in Volume? Look at the 1mn bars (not candles). Look at the closing prices of the 1mn bars. Ask yourself questions. What does it mean when you get a week close or a reversal close? It doesnt cost you any money to just look.
 
Quote from retire45:

Zodiac,

I really appreciate the tips.. Hope someday I can be as helpful someday..

Very quiet day... for once decided swimming WITH current easier.. +11 points..
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Nice to see that you did well. Swimming with the current is the only way to go. I didn’t do anything today I’m going west tomorrow and I won’t be back until the 18th. I’m closing on a property and will be very busy. I did want to ask you have you tried to use any moving averages
 
My ability to lose money while taking long positions on a day when the market is significantly up is stupifying...micro trading on a macro day and always a few bars late, it seems.

Two trades kissed my targets but didn't trigger the limit order, promptly reversed, and hit their stops. The more I lose, the tighter I make my stops...with a predictable outcome. A vicious cycle.

I'm all over the place with custom and legacy indicators and rules for entries and exits.

Time to paper trade and get back to the basics. Going to dump all but maybe one indicator for confirmation, establish a trading plan and select a time frame and risk profile consistent with that plan.

And that plan may involve leaving the eminis behind. I was doing exceptionally well for a new trader until I started trading ES.

Wild animal on cocaine, indeed. :D
 
Quote from Zodiac4u:

I didn’t do anything today... I did want to ask you have you tried to use any moving averages
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Sometimes a man is as strong as the things (trades) he can do without.. I do use a 5 period MA on my charts for short term swings.. Yesterday was quite clean so it would have been useful..
 
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