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ES Journal - 2012
- Thread starter Buy1Sell2
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Speaking of NFP...interesting that Prior is 163K...market expects 130K and Briefing is at 140K...pretty wide spread. If Briefing is right we will be considerable higher than expected hence is the market expecting a big + number and thats why the huge run-up (1st in a month)...buy the rumor...sell the news? or consolidation before reality hits next week. The other Q mark out there is that the German court hasn't yet approved the legalities of the rescue packages so Europe is still out.
With so much risk out there a vix of 16 just seems to be way to low for a SEP & OCT trade.
With so much risk out there a vix of 16 just seems to be way to low for a SEP & OCT trade.
Quote from Handle123:
I never use a hard stop at 2 ticks as I monitor the DOM's volume at total volume, so I can "cheat" if the ask volume gets too low at minus 2 ticks, then I would have hit the ask price at 1431.00.
I got plus 4/1
good trade. so on this trade, u locked in 4 ticks on partial and moved your stop to BE-1? how much do u typically lock in on the 4 ticks, half?
Quote from Handle123:
sold 1432.00/1331.75
risk 2/3 ticks
target 4/8 ticks
Reason selling up there, on very strong days, NYSE will force market at highs of the day to fill client orders going long at worst price, and lack of further orders usually makes market to turn back down.
Plus 4/5 ticks
Hope all you trend traders cleaned up in first 1.50 hours, then the Scalpers had their fun the rest of the day, Good day for all.
Quote from mastacoli71:
good trade. so on this trade, u locked in 4 ticks on partial and moved your stop to BE-1? how much do u typically lock in on the 4 ticks, half?
I never lock in anything, don't want to be moving stops around, if I get to a point where I think I should have a stop, I just get out. I am constantly watching the volume on the DOM. I don't know of any scalpers that use reg stops, I do use a stop 10.00 points away in case of something explodes or I explode. But when you are dealing with ticks, really no point in using stops. I do have 4 DOMs open of My Platform. Here is a trick, before entering a trade, stick in your exits first, my Platform does this automatically but I use to do manually, this way your order sitting in the que first, if price gets up there and you not in, cancel it.
I also average down on all trades, even if it goes against me 2 ticks. Perhaps at time I enter at minus 2 ticks, volume at that ask price is 1200, I am staring at that volume and when it hits a certain number I keep to myself, then I will bail out of all at that ask price. So every once in a while, I can litterally risk zero ticks on a trade and those contracts are exited at the first target for 1.50 points. And yes, somtime I am not quick enough and lose 3 ticks, big deal as I am much more often right then having losses. It is like anything else, practice, practice, practice.
k, i think i misunderstood the posting of the trades you are taking where you state the risk of for example 2 ticks and targets of 4 and 8 ticks.
thanks for sharing.
thanks for sharing.
Quote from Handle123:
I never lock in anything, don't want to be moving stops around, if I get to a point where I think I should have a stop, I just get out. I am constantly watching the volume on the DOM. I don't know of any scalpers that use reg stops, I do use a stop 10.00 points away in case of something explodes or I explode. But when you are dealing with ticks, really no point in using stops. I do have 4 DOMs open of My Platform. Here is a trick, before entering a trade, stick in your exits first, my Platform does this automatically but I use to do manually, this way your order sitting in the que first, if price gets up there and you not in, cancel it.
I also average down on all trades, even if it goes against me 2 ticks. Perhaps at time I enter at minus 2 ticks, volume at that ask price is 1200, I am staring at that volume and when it hits a certain number I keep to myself, then I will bail out of all at that ask price. So every once in a while, I can litterally risk zero ticks on a trade and those contracts are exited at the first target for 1.50 points. And yes, somtime I am not quick enough and lose 3 ticks, big deal as I am much more often right then having losses. It is like anything else, practice, practice, practice.
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