ES Journal - 2012

[Handle123]

Quote from Daring:

This is precisely why I often wonder, how seasoned traders using timeframes like the 5min survive whippy sessions.

It's easy to see clean signals, even surprises, as long as clean, but the whippy stuff, sessions, how do they survive from death of thousand stops?

I don't use 5 minute charts for smaller timeframe day trading, I am not looking to stay in a trade much more than five minutes and usually more like 2-3 minutes. I believe the folks who use five minute charts are looking for much less trades and longer profits than someone like me, 80-90% of my contract size targets 4/8 ticks(but often get one to two ticks). Very occassionally, I might make a 5/10 point trade, like maybe once a month, but all the backtesting I have done thru the years, for very high profitable %'s have shown me that one minute charts are the way to go with well defined rules. It has absolutely nothing to do with what my personality needs in life, it has to do with making money, and that is all I care about, it not a hobby, not trying to make a couple hundred bucks.
Slap a 21EMA on a one minute chart, if flat buy/sell a few ticks below/above EMA and go counter, if EMA is sloping buy/sell on tap of EMA, now backtest. This is in easiest terms of what I do. To reduce the stops tighter, add S/R, price patterns, TSI. Learn to read the DOM volume.

But when I go to longer timeframes such as hourly or daily, that is different story, can't risk 2 ticks, but certainly seeking a great deal more profits.

 

[Lespaulr0cker]

Quote from Spectre2007:

1440 hit..

The short squeeze is in effect, now back to the regularly scheduled central bank levitation.

 

[ammo]

Quote from ammo:

sh 41 25 offer 43.25 ,44.25..39 bid to flatten

avg 42 25 out 42 75,dont see any sign of a pullback today

 

[Lespaulr0cker]

Quote from ammo:

dont see any sign of a pullback today

I'm thinkin they want it back up over 1450 by end of week

 

[ammo]

we hit 44 around 12 30 so an hour and 15 minutes and no movement up,they may be holding it up and selling, buy 1 sell 2.. look at the 1st 10 or 12 on here and then click buying on weakness, no block trades.. http://online.wsj.com/mdc/public/page/2_3022-mflppg-moneyflow.html

 

[ammo]

Quote from ammo:

sh 41 25 offer 43.25 ,44.25..39 bid to flatten

filled on the 44 25 cxl bid,lost .50 on the 1st 2 fills

 

[ammo]

shrinking ratio on the trend day possibility

 

[ammo]

Quote from ammo:

filled on the 44 25 cxl bid,lost .50 on the 1st 2 fills

flat 41 25

 

[Spectre2007]

Quote from Lespaulr0cker:

I'm thinkin they want it back up over 1450 by end of week

The data doesn't warrant it unless news events propel higher. Mean reversion takes price to equilibrium and price can resume it's downward course and chop creating a wedge chart pattern that wedge can eventually break up or down.. The wedge is 1444-1440 to 1430 trendline. The recent chart posted shows what possibilities are.

Price action is unique to each and each market has it's personality. That personality is a construct of the market participants. Those participants change as day n night cycle runs it's course across the globe.

 

[Rol]

Quote from Handle123:

Slap a 21EMA on a one minute chart, if flat buy/sell a few ticks below/above EMA and go counter, if EMA is sloping buy/sell on tap of EMA, now backtest. This is in easiest terms of what I do. To reduce the stops tighter, add S/R, price patterns, TSI. Learn to read the DOM volume.

Hi Handle, that is some good stuff there. So essentially, when market is range bound, you countertrend trade, and when trending, you buy/ sell in the direction of the trend. And using a simple EMA to guide you keeps it simple. Stops could be placed fairly tight, because you would soon know if the market is not behaving as anticipated. Makes me want to open a futures account!