ES Journal - 2014

[Handle123]

Hey handle, surely something is wrong when posts mention targets and stops in ticks rather than points?

I am 100% scalper in timeframes under 60 minute trading, so all backtesting is done in ticks for me. I average down on all trades, so it is ticks when I am concentrating on trades.

ES, one minute saw three equal highs, scalping wise that is an exit for me. On NQ, when a bars' close can't get above a previous pivot high, that is an exit.

 

[actionzip54]

Guys, I'm scared!

Everyone said to buy.

 

[Handle123]

Often times I use "slingshot" entries, wait for two ticks breakout then wait for price to come back 2-3 ticks, this will extend my targets but risk stays the same.

Once the ES travels in swing of late of approx. seven points, I watch for "where is small trader going to get creamed. Often at lows there will be big ass bar(BAB) like 8:00 and bar after is inside bar, I never take signals on any bars within range of the BAB as they are often sucker bars and continuation bars of trend. Old times taking first breakout of inside bar worked but seldom any more, especially for scalping.

70% of my trades are counter-trend, as I never cared for the trend.

 

[Visaria]

Quote:
Originally Posted by Visaria View Post
added another half at 16561, apols for delay, stops moved to 16460




out of some more dow at 16700

stopped out of all remaining dow at 16700

bought german bund instead

 

[Handle123]

long NQ 3710.75 20/20
long ES 1915.25 8/8

 

[CoolHandLuke]

That's some fancy gun slinging Handle!

 

[Handle123]

long NQ 3710.75 20/20
long ES 1915.25 8/8

I watch both 2 minute and one minute bars, trend off slope of 20ma on two minute, up to 3 bars after change of slope on one minute I can take scalps with trend. Trend trading has way more rules that counter-trend. But here is the thing which all traders can benefit, if you have an indicator signal, based on price action just before signal can negate the trade altogether. Breaking of high/low pivots by small amounts will either stop me taking a signal OR require a much deeper retracement.
What many traders will do they enter say on an envelope when price touches, since I will see small differences in pivots, often times looks like a "rounding" effect, wait till price goes another 3-4 ticks higher, it be safer trade and possible more profit.

Got my 20 and 8, shorts for a little look good in here

 

[Brianharvey]

Guys, I'm scared!

Everyone said to buy.

We're down 4 points ! I bet the bulls are petrified!!

 

[Handle123]

Another little nuance, for those who use BB, Bollinger bands, on smaller timeframe price gets to BB, but if it doesn't get to the 20ma on larger timeframe, often it be a wash or loser signal.

Three equal highs in both ES/NQ showed me time to short risking half as much and going for half as much. cha-ching. Reason for half as much, long extended move usually don't last, but often times it is a sucker play to draw in the noobie thinking it going back down.

Normal swings for ES is 8-10 points, this of course changes from time to time, but over the long haul, it is normal. NQ is more unstable, but does travel in 12 point distances, so 12, 24, 36 which for me does show a pattern I can rely on a tad.

 

[tiddlywinks]

@Handle

I hope your explanations of what a "trader" does for daily bread have an effect on the mentality of the ET crowd. Mental masturbation on ET seems to be at an all time high! Comments like "fancy gun-slinging" suggest there is at least some comparative and possibly open thinking going on.

Steve