ES Journal - 2014

Handle123 said:
8:48cdt lows to 10:02 lows, wait for close below and retrace back to TL
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So do u make sure previous price action is weak in order to set this up ? Bc the 10:02 bounce was clearly weak. Had u did that at 9:41 ud have been in trouble
 
wiesman02 said:
Im rather curious about this short u made at about 10:18cst. What was your reasoning ? it ended up working out quite well.
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I basically have six diff signals, but not counting Price action as that can be another dozen.

I use 20sma, Volume and TSI (25,13,8), have found the TSI often finds extremes for general signals on two minute, and on one minute shows me what Volume trades I am allowed to take, above zero only sells, below only buys, doesn't tell when to put on trades as I base those on volume, speed of price, number of bars it took to get there and ave swing for past week and month. I am not huge in Elliot wave, but I have broken down swing values for each trend wave to get general idea of "how much" is possible or what is left in that swing comparing to where I got in, so it always comes back to possible reward to risk. I often do take profit and reverse, at least half my trades are of this. I also do "BTFD" but in different way, I wait for price to come to me instead of doing breakout, many many many times I am feeding the retail inexperienced trader his entry and I am taking profit, vicious circle, but they will learn or get wiped out. Like all of us in the beginning.

I love volume trades on the one minute and often half my trades for the day are volume trades, Again using swing points to tell me how far is too far to do counter-trend trades near H/Ls but also do Volume trades with trend where I often feed rookie trader doing breakout.

I have done 37 trades today so far, 19 on one minute chart, one full loser and the rest +1 to 10 ticks, and on two minute 18 trades and no losses of +1 to +8 ticks, more trades than normal, but then I don't trade all day that much, I usually do the first 1.5 to 2.5 hours and last 1.75 hours.

That trendline retrace method I do in long term stocks and commodities. When I am seeking low losing percentage signals for day trading, it has to work on any timeframe, otherwise the signal will not have longevity for me. The method is based on weak hands, breakout for the noobs, they put in tight breakeven stop after price has gone a little bit in their direction, just enough to give them "dreams" then price pushed back to hit the stops or give them a lose cause they bought at high of breakout bar, then I am letting them out by going in, they see price going back in direction they thought it would go, finally they think about it and hit the mouse to get in again, and I am getting out. ROFLMAO I LOVE THIS GAME.
 
wiesman02 said:
So do u make sure previous price action is weak in order to set this up ? Bc the 10:02 bounce was clearly weak. Had u did that at 9:41 ud have been in trouble
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I use close beyond recent pivot for trend ID, but I will also take slope of 20sma at times as well to negate signals, if slope up and close below last pivot low, "jump ball" and I won't take a 50/50 trade, that being said, all my signals been tested for over 67,000 sample size, if a signal gave larger than 10% losing trades, I didn't include it.

I only take these trades on the two minute chart as a means to reduce the number of them, if I was to take on one minute, end of the day, I wouldn't be able to see the bars, LOL.

If you take 5:56 to 7:02, 7:28 to 7:34, 10:34 to 11:18(just got out with 8 ticks plus add-ons) winners of 8 & 12 ticks, trend was down on first two. I don't take when slope is flat.
 
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