ES Journal - 2019/2020

[schizo]

Is anyone here trading multiple accounts/strategies throughout the day on the same instrument, i.e., ES?

I'm considering starting to 'position intraday trade' my end of day biases with 1 micro and holding through huge retraces, while day trading/scalping my main strategy in another account.

An example would be the calls I made this morning. Even if I knew there was a good chance we'd trade up there, there would be no way I'd be able to just sit and watch all these retraces in my real day trading account.

But if I split it into a separate strategy - I'm thinking I could do both.

Why don't you just trade ES with NQ or YM? They all move in unison.

 

[Noone123]

Okay, this should make it interesting next Mondy. Rally or follow through. Although i said that I prefer a base to be built below 2500 that's tested multi days.

 

[Laissez Faire]

Why don't you just trade ES with NQ or YM? They all move in unison.

Certainly an option. Thanks.

 

[Noone123]

May need stimulus 2 and 3 to restart the engine.

 

[themickey]

Okay, this should make it interesting next Mondy. Rally or follow through. Although i said that I prefer a base to be built below 2500 that's tested multi days.

Yes and looking more bullish today than bearish within a bigger picture.

 

[trdes]

Certainly an option. Thanks.

Just FYI NQ correlates with ES better than YM and RTY. The correlation may have changed some given all the things going on. But generally speaking 1 ES point = little over 3 NQ points.

At any rate they trend the best together in my experience.

 

[syswizard]

Is anyone here trading multiple accounts/strategies throughout the day on the same instrument, i.e., ES?

I'm considering starting to 'position intraday trade' my end of day biases with 1 micro and holding through huge retraces, while day trading/scalping my main strategy in another account.

Good idea IMHO. Keep in mind that micro could be +/- $500 for the day given this volatility. Optionally, you could be trading SPXW options. With options you could profit from a neutral market whereas with MES you would need some movement to profit.

 

[Noone123]

Yes and looking more bullish today than bearish within a bigger picture.
View attachment 223228

Nah, we need a retrace to build a base after an epic 3 weeks of selling we have never seen before. It doesn't go straight up right away. We already got back 20%, well 17% after today. Absolutely early to say coasts are all clear to buy with confidence.

 

[syswizard]

Yes and looking more bullish today than bearish within a bigger picture.

Except that doji pattern was painted today.

 

[themickey]

Nah, we need a retrace to build a base after an epic 3 weeks of selling we have never seen before. It doesn't go straight up right away. We already got back 20%, well 17% after today. Absolutely early to say coasts are all clear to buy with confidence.

I agree that the way ahead is probably going to be choppy.
The coronavirus scene is negative atm but technically on the markets Thursday was the bottom according to my analysis.
That's my call, Bottom!