ES Journal Archive (2006 - 2008)

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Quote from osorico:

Little by little I learn that I should not swing. Stick with what I know. Man, I don't know how I EVER did it. Those tic-by-tic periods before you can even determine the correctness of a thesis is just killer. Much more painful, imo, than taking a pre-defined loss relatively quickly.

Got a few more minutes. Maybe I'll pick off a full position scalp, long or short I don't care. :)

Osorico
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Are you scalping the es with limit orders?
 
Quote from apex82:

short here at 1512.75 stop at 1513.75 above the pivot
countertrend so reduced size

1pt stop

1st target 1510.50
2nd target 1508.50
3rd target- trail stop
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Stopped out for 1pt temporary equity dip.... bastards

rentered short at 1513.25 stop above highs

3 tick stop

same targets
 
Quote from apex82:

Are you scalping the es with limit orders?
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I don't scalp ES very often. Only with price move velocity, momentum, whatever you want to call it. When I do, I do usually enter on a limit. I don't trade quantity like you. Norm size for me is single-digit.

imo, the ES tic (.25) produces smooth movement, which is better suited for intraday or longer swings, forgoing the velocity I mentioned above.
 
Ok, ya I just dont understand how someone can scalp effectively when you have to give a tick slippage on the way in and out on every trade. The ES has to trade through your price to get filled.

When you say scalping with velocity do you mean waiting for an impulse move and jumping on minor level pullbacks in the direction of that move?

Or does that mean placing orders in the direction and going with the crowd?
 
Quote from apex82:

Ok, ya I just dont understand how someone can scalp effectively when you have to give a tick slippage on the way in and out on every trade. The ES has to trade through your price to get filled.
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I'd like to know how aswell. Whenever I scalp its done with the YM since the slippage of trading through your limit price is less substantial.
 
Stick a fork in me, I'm done!

16:30:00 Short ES at 1513.75, exited 07:43:31 at 1509.25 (+4.50 points) cum +4.50
08:25:10 Short ES at 1510.00, exited 10:50:38 at 1507.75 (+2.25 points) cum +6.75
10:57:28 Short ES at 1508.25, exited 11:08:00 at 1508.00 (+0.25 points) cum +7.00
11:15:17 Long ES at 1507.25, exited 11:15:26 at 1508.00 (+0.75 points) cum +7.75
11:48:10 Long ES at 1507.50, exited 11:49:11 at 1508.25 (+0.75 points) cum +8.50
12:20:12 Short ES at 1508.25, exited 12:47:12 at 1510.50 (-2.25 points) cum +6.25
13:53:19 Long ES at 1510.75, exited 11:10:40 at 1511.75 (+1.00 points) cum +7.25
14:14:27 Short ES at 1512.00, exited 14:15:18 at 1511.25 (+0.75 points) cum +8.00
14:57:56 Long ES at 1511.25, exited 15:04:13 at 1512.00 (+0.75 points) cum +8.75
15:29:47 Short ES at 1513.00, exited 16:11:50 at 1512.00 (+1.00 points) cum +9.75

Close enough to a perfect ten for me. I'm outta here. Tomorrow's another day. Good trading, all!
 
Quote from MiniDowTrader:

Where the hell is Volente? :p
He would have been screaming "10:30 reversal crew! Rule of 10! It's a T-day fools!".....heck he might even throw in a gap close call! :D
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Good call Volente! Well, I mean, if you had made it. :D

MDT
 
the rationale is that the fed needs to seem to have control over the economy.

the fed speak will be one of slowing economy. so they can get the interest rate cuts underway. The dollar is destined to head to much lower levels historically, unless signs that a frugal president will enter the white house.

so tommorrow the fed speak will be one of 'slowing', the market can interpret it as the 'slowing economy' will start crimping margins.

there is a lot of overleveraged money in the market at the moment, and that money is ripe for institutional boys to use market swings to shake the novice money out.

most anyone who is long index futures, will pick round numbers to put their stops. 1500 being a big round number in ES.

so the big boys can use the FED as a excuse to gap the futures down when the statement comes out, to hit the overleveraged stops.

its just one scenario. the other is the market continues to rally and rally and rally.

chris
 
Quote from apex82:

Ok, ya I just dont understand how someone can scalp effectively when you have to give a tick slippage on the way in and out on every trade. The ES has to trade through your price to get filled.

When you say scalping with velocity do you mean waiting for an impulse move and jumping on minor level pullbacks in the direction of that move?

Or does that mean placing orders in the direction and going with the crowd?
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Today as example, The ES trades I posted were not scalps. Nonetheless, in these cases I was "expecting" a somewhat sustained impulse move. It wasn't momo based, but other TA. Pretty tuf to wrap my head around an 17tic range being momo based. :p

For ES scalping I would say I jump on the move. My limits are usually at the appropriate(ie in my favor) side of the market or maybe a tic above/below. Unless there is something obvious occurring. Again, mostly due to the tic, I experience significantly greater success in YM, ER, and NQ where I can and do anticipate AND get filled at MY price AND frontrun the crowd.
 
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