ES Journal Archive (2006 - 2008)

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Quote from mbusch:

Yes, so far this looks like a great day for an automated tick-scalping strategy, but not so good for hitting any home runs.

It would take a rally to 1528 for me to enter short with any real enthusiasm, although there's weak resistance at 1523. Likewise, it would take a decline to 1505 for me to enter long enthusiastically, with weak support at 1510.50.

Gap just closed. Maybe we'll run some sell stops here and get down to 1510.50, where I might go long but with a very close stop.
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funny you mention automated tick scalping......i just moved to an area of northern bergen co. NJ....as `im going thru the motions of meeting the new neighbors,i`m finding that `im surrounded by traders up here,mostly NYMEX based.

one of the guys trades energy in an office in the NYMEX building where he`s surrounded by BOTs acumulating tick after tick.the gentleman he trades capital for has a 1 lot system bot that racks up on avg 7K a day.........he watches it accrue $10 ticks like the slot machines in a casino.......unreal!
 
Quote from Buy1Sell2:

Only shorts should be taken intraday even if longs look profitable. Short term trend change is now complete. :)
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B1S2, please define what you mean by "short term" in the context of the above. Weeks? Months?
 
Quote from Spooz Top:

he trades capital for has a 1 lot system bot that racks up on avg 7K a day.........he watches it accrue $10 ticks like the slot machines in a casino.......unreal!
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Can you please post the software link :D
 
Well, I blew the execution on that one.

Entered long at 1510.50 with a 3-tick stop. Got stopped out when price spiked down to 1509.50. Attemted to re-enter long at 1510.50 but never got filled. :mad:

If I'd had a larger stop (which would have reduced the risk/reward ratio) or waited for better confirmation (which I did the second time, but just slightly too long), it would have worked. Coulda, woulda, shoulda... :p

It takes both a good strategic trading plan and good tactical execution to daytrade successfully. One out of two just isn't good enough...
 
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