ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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OK, tried to close @ 1293, when this b...ard $600 a month done another crash, had to close @ 1294.50. I can't believe this, it's absolutely ridiculous, some of us pay this amount and it just hangs on you, anyway, held position through the pain and it obviously worked OK, what about you B1S2, have you closed or added to your positional?
OK, I think I understand the problem. Candle patterns do not always coincide in due time with other indicators, Stoch/RSI pos/neg divergences. You are quite right to admit that 1-3 min time frames create a lot of false entry signals, though I must add that sometimes the entry is fine, the stop distance isn't, but let's not go into that one for the time being. As far as candle trading is concerned, I have only 1 primary signal (WRB pattern), which actually failed today, normally it provides a pretty safe bet in my experiences. I also test other candle patterns, mostly hammers. IMO if one is a day trader it is not easy to find the right combination of indicators that would provide signals almost simultaneously, one would always lag, therefore I test these indicators one at a time and look for confirmations of right/wrong entry in T&S/candle pattern formations. I have attached a chart I posted previously of today's action in ES, based on that signal alone, I decided to sell the market and added after confirmations in other time frames, etc. I find waiting for the right set-up on 5 min frame works better than any shorter time frame, you just have to wait for the right moment, patience is key advantage.
Recently I have been looking into 1 min chart divergences on stochastic during after/premarket hours and if you have time to do this, check it out. I am sorry for not being able to tell you that this is a thoroughly checked info, I am still in live testing. Most of the time I simply try to stay with the market action.
Buy1Sell2
Do you monitor the after regular hours trades, and if so
do you have a particular target in mind on these shorts?
I feel we have clearance to the 1292.50 area even
as soon as this evening.
Your thoughts are appreciated.
By the way, EXCELLENT thread here, Kudos to you.
Monaco
Do you monitor the after regular hours trades, and if so
do you have a particular target in mind on these shorts?
I feel we have clearance to the 1292.50 area even
as soon as this evening.
Your thoughts are appreciated.
By the way, EXCELLENT thread here, Kudos to you.
Monaco
I am a short term trader, yes.
One to four hours....+/~
Since I have started trading the ES, I have found
that the evening hours more predictable.
My trade was based on the uptick prior to close,
and my "feel" of where the market was headed.
I can hear the "cringes" from other posters, but
my gut tells me, and I follow this (up/down to a point).
In essence, I see a lower overnight from the 1294.50 area
with a 1 point or so target, with medium size.
Monaco
One to four hours....+/~
Since I have started trading the ES, I have found
that the evening hours more predictable.
My trade was based on the uptick prior to close,
and my "feel" of where the market was headed.
I can hear the "cringes" from other posters, but
my gut tells me, and I follow this (up/down to a point).
In essence, I see a lower overnight from the 1294.50 area
with a 1 point or so target, with medium size.
Monaco
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