ES Journal - 2019/2020
- Thread starter Buy1Sell2
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From the mid 90's on i traded prop with Assent, Genesis and Etrade pro( Became light speed) . Back then i got them down to .11 share plus ecn fees . Some months i was trading 20 million shares . In 2008 i spend like $370k on commissions which included ecn fees. In the old days when they only send paper 1099's out ups had to deliver the boxes. One year i recall have over $4 bil of sales. I used Mtm accounting and 1 line entry. I used to use Green trader to do my taxes.
damn son.
..you said you don't use charts, correct...so order flow on the ladder
The volumes are light, but imo, that's a good sign, volatility should begin to fall and a slow plod up expecting.
No i don't use charts per say for price pt. I will glance at a chart top see were we've been the last many hrs. I almost have a photographic memory . So i memorize many of the previous price pts . I basically wait for big moves in either direction and wait for a basing out period then start my scaling to go counter trend . Like today we had several 20-25 pt drop and runs. . If i'm doing 20-30 cars on a scale an then i put a 10 pt stop on the avg of all the cars . I lean heavily toward the trend of the day for most of my trades. Today since we never got near the premkt lows i felt the trend was up and i mostly played dips to the long side. To me the scaling is the key to winning in this game .It gives me a much better avg price and a much better chance of a winning trade. And you must be emotionless in your trades. All that matters is your net at day end. Its an 8 hr day !!!!
An example of scaling was 12:05-12:15 eastern. I started scaling at 2505-2512 or so. Avg was 2510 or so. I increase my scaling as we go higher. Lets say i do 3 at 2005. I'll do 5 at 2509 and 10 at 2512. So my avg is 2510 or so with a stop at 2520. Understand many times i'll trade the last entry like 2512. So if we pull back to 2506 i'll cover the 10 and reshort the 10 if we pop back to 2510-2512 thus that allows me to bring the total avg up in price . Once i feel the top is in i'll hold the whole trade for 5-10 pts . It all depends on how big the drop was and what type of day were in. If its very bearish day and the bounce is huge i'll hold the trade longer and try to get 20 pts. I adjust my trading to the type of day i feel it is. I never ever go into the trading day expecting a certain type of day. I try to gauge the sentiment i feel the mkt is oozing out that day. It hard to explain . i've been trading the mkt so long i can feel the sentiment. Just like when we get to a round # like 2500. 90% of the time we break threw it and run 5-7 pts very quickly . I'll try to capture those type moves . I have so many ways to trade i analyze the action and semiment all the time. Again everyone must get there own trading style that suits them.
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