ES Journal - 2012

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Quote from Laissez Faire:

I agree. The most important work is not done during trading hours. Learning to trade by trading; not sure if that`s a good idea unless one knows what one is looking at from having put in the necessary preparations first.

I also agree that looking at any single bar is fairly useless. And why 5 minutes, right? Context is everything and one needs to look at prior bars leading up to that bar and most importantly in ES; the different technical horizontal levels.

Now, how the hell did you go through 16 months of history in 2-3 weeks? :)

I think I averaged 45 minutes per trading day when doing a similar type of backtesting, plotting levels first, anticipating scenarios for the day and then trading it bar by bar, taking notes, etc. :)
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What helped me speed up were 2 things. I just coded the levels that I wanted to see - which were yesterday OHLC - so I didn't have to calculate any level everyday. The trading platform plotted it for me. Secondly, I was looking at following specific things - double tops, double bottoms, trends, counter-trends - thats all. So, I was able to really speed up the process of taking the chart forward in time. Many days I went through the chart maybe in 2-3 minutes - basically the dull days. And some days would take me as long as 15 minutes.

Had I done it the proper way, yes 45 min to 1 hr per day would have been about right for each day.

Cheers
 
Quote from Trvlwanderer:

sometimes luck is the only thing (in some market conditions).
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It takes very little to make a long trade work in these markets. Buying at a double-bottom, even a very weak one, is decent odds if there's no selling momo -- for now.

The danger lies in becoming inured to these absurd conditions. In that respect, Ammo's caution was well placed. In a "normal" market, he would have been right, and I would have lost five ticks.
 
Quote from tortoise:

It takes very little to make a long trade work in these markets. Buying at a double-bottom, even a very weak one, is decent odds if there's no selling momo -- for now.

The danger lies in becoming inured to these absurd conditions. In that respect, Ammo's caution was well placed. In a "normal" market, he would have been right, and I would have lost five ticks.
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DEMTDAYBOYZ and r10 had yo back but the stop was little tight


Plus i am long from this area so you had 80% odds from that angle as well. Once green prints then you are on your own though but my gut still has 47 - 51 in play



:)
 
Quote from volente_00:

DEMTDAYBOYZ and r10 had yo back but the stop was little tight


Plus i am long from this area so you had 80% odds from that angle as well. Once green prints then you are on your own though but my gut still has 47 - 51 in play



:)
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Yeah, y'know, I noticed that 44ish/34ish thing and thought, "Huh. There's Volente's fucking R10."

But then I remembered that I don't understand R10 and I never will.
 
Quote from tortoise:

Yeah, y'know, I noticed that 44ish/34ish thing and thought, "Huh. There's Volente's fucking R10."

But then I remembered that I don't understand R10 and I never will.
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I wonder what exactly is R10. Volente always talks about it - but I have never seen a post where he has explained it. Maybe he did somewhere, but i haven't located that post yet, even though I have tried to research a bit of Volente's historical postings :)
 
Quote from gmst:

I wonder what exactly is R10. Volente always talks about it - but I have never seen a post where he has explained it. Maybe he did somewhere, but i haven't located that post yet, even though I have tried to research a bit of Volente's historical postings :)
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caution around areas that are 10 points from a swing high or low. If you are long approaching an r10, look at taking a couple off.

Use caution entering a position near an R10...you may take some unneeded heat early in the trade.

At least that is my take on it.
 
Quote from gmst:

I wonder what exactly is R10. Volente always talks about it - but I have never seen a post where he has explained it. Maybe he did somewhere, but i haven't located that post yet, even though I have tried to research a bit of Volente's historical postings :)
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In fairness to Mr. V, he has discussed it a couple of times. Somewhere, there's a thread about r10. In any event, as I understand it, here t'is:

ES tends to retrace 10 points from a "major" intra-session inflection point.

The definition of "major," however, is your call.:cool:
 
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