ES Journal Archive (2006 - 2008)

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So far this way of trading has averaged 1.16 points per trade (18 trades/+21 points). 3 days data is not enough to draw any sorts of conclusions.

Staying with a trend is a subject that has been briefly touched upon in this thread, but nobody seems to have offered any pointers as to how to monitor trend's 'strength'. It seems that it's either proprietary and/or most experienced traders on this board seem to establish a reasonable point of entry and hope that it will be a trend day (they haven't been happening that often recently).

I knew beforehand that trendy sessions will not be as rewarding as range days. Most oscillator based trading fails during trend days, unless as Keeper has mentioned identifying direction on longer TFs and trading off shorter TFs in the same direction.

But this test is not about identifying a trend or range day. The way I see it is if this average holds, then a person new to trading can pick up this sort of system and just trade it, kinda like "Trading For Dummies". I do and try to follow just RSI, although I must admit that at certain times I see a reversal as not an appropriate action, but since this is a test of a simple pattern - all patterns are being traded. Long grail - long, Short grail - short. After 3 days a 20k account trading 20 units would have almost doubled in equity using this system (after commission).
 
Quote from Buy1Sell2:

Here is yesterday's 3 minute. Tell me what you think .:)
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All looks cool, but the last long grail pattern. That's where I had a conflict. If you look closely there is a short grail that appears within a long grail, can you see it? That's the only criticism I have for your chart annotations :)

I'll have to implement reaction high/low in the system as THAT would indicate which grail is prevailing.
 
Quote from Buy1Sell2:

2 or 3 very good shorts today on the 3 min. 1 or 2 so so longs. I'll post my chart later after annotated.:)
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Here is my annotated 3 min ES chart from Wed. Note: I do not trade the 3 minute chart as I think the short frames keep you too active. But, the system is the same whether on 3 minute 5 minute 15 60 daily weekly monthly. The same principles apply. If I were day trading the ES, it wold be 15 60 and 240. Comments welcome.
 

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and now the 15 minute chart. This is getting more into the area of activity that would be acceptable to me. Less is more I think when it comes to trading. The system always defers to the reaction highs/lows first and then looks at grails and divergences. Once you have learned to identify tradeable grails, you can keep your activity to a minimum. Sytem works in trend or chop. More money in trend of course. But, with the stops outside the noise, you have good risk management and will stay in trades that you should stay in. :)
 

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Quote from romik:

All looks cool, but the last long grail pattern. That's where I had a conflict. If you look closely there is a short grail that appears within a long grail, can you see it? That's the only criticism I have for your chart annotations :)

I'll have to implement reaction high/low in the system as THAT would indicate which grail is prevailing.
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Yes, that particular grail (which a close relative appears on the daily chart right now) is not one of my favorites.
 
Quote from Buy1Sell2:

Here is my annotated 3 min ES chart from Wed. Note: I do not trade the 3 minute chart as I think the short frames keep you too active. But, the system is the same whether on 3 minute 5 minute 15 60 daily weekly monthly. The same principles apply. If I were day trading the ES, it wold be 15 60 and 240. Comments welcome.
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all those indicators are pretty but do you have a daily of them on a straight chop day and not a grind day like yesterday ?
 
Quote from volente_00:

all those indicators are pretty but do you have a daily of them on a straight chop day and not a grind day like yesterday ?
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As we go, I will post charts and we should get chop as well. There is a trend on chop days too, it's just not as clear.
 
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