ES Journal - 2013

Quote from gmst:

out of these 3 at 1671 for 5*3 = 15 points booked profit. still have other 5 short contracts on.

So, my current position is as follows:
1) 2 more shorts at 1670.
2) 3 shorts from 1667.5
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covered these 2 shorts at 1670 at breakeven. So total booked PL = 15 points

and 3 shorts from 1667.5
 
Quote from RichardRimes:

This is an EOD 15min with the bars and a couple of "signals"..if you sold at the worst part of the signal bar this am and bought at the highest pt of the sell you would have made about 6 pts..ok I guess
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key thing to note is that such signals will work when volatility is high because on other days trader will get chopped out.

One interesting trick that works is to enlarge the trading duration and instead of using 5 min, use 1hr or 4hr chart and hold trades longer (even for multiple days at a time). Basically, as average trader profits go up, transaction costs as % of average trade profits go down and it is critical to long term sustainability in futures trading. No wonder that exchange members are more successful than retail people - both they are much better capitalized than average joe, they also have much smaller transaction costs.
 
RS Wilder is the guy that created this and he does quite a lot of backtesting/research etc so I think it must have some validity. No question for us retail traders longer time frames...less trading simply is more cost efficient. Thats one reason I've switched my option trading to futures options. basically more bang for the buck. anywhoo thought I'd throw this out there to see if someone else had practical experience trading this type of TA.
 
Quote from gmst:

covered these 2 shorts at 1670 at breakeven. So total booked PL = 15 points

and 3 shorts from 1667.5
More...

out of these 3 shorts at 69.5 for -3*2 = -6.

So total booked PL = 15-6 = 9 points for today.
 
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