ES Journal - 2021/2022

Cessna06P said:
Taking a survey here, how many points do you guys use for initial stops when entering a trade on ES? What I am doing ain't working. Entered at 3857.5 and out at 3855.5.
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It obviously depends on the momentum, but usually around 10 points for me (sometimes up to 25 points). Your 2 point stop is way too tight. In fact, that's even too tight in a dull bull market IMO. If wide stop is a concern for you, I suggest you trade MES.
 
Thanks schizo, I suspected as much. I can't tell you how many times I was right in my intuition of where the market would go but got stopped out. I think MES might be a good thing for me now. Not paper trading but less risk = more courage.
 
Cessna06P said:
Thanks schizo, I suspected as much. I can't tell you how many times I was right in my intuition of where the market would go but got stopped out. I think MES might be a good thing for me now. Not paper trading but less risk = more courage.
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Stop is one thing, getting in at the right time is another. Get those two under your belt and you have yourself the holy grail of trading. But I'm sure you already know that. :)
 
How do you move up your stops after you are above BE? I usually go between the middle bollinger line and the lower hoping for a longer trend but many times it costs me in an up and down market. Sometimes I think it would be better to go and grab the high and reverse.
 
Cessna06P said:
How do you move up your stops after you are above BE? I usually go between the middle bollinger line and the lower hoping for a longer trend but many times it costs me in an up and down market. Sometimes I think it would be better to go and grab the high and reverse.
More...
Chandelier ATR Stop calculates where stop should be placed, then tightened up. If it happens to land on breakeven at some point so be it. But traded price doesn't know about BE or care.
 
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