ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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just curious how his blotter would benefit your trading ?
off to the races
Since he said he uses a 1-min chart and today I discovered the possible benefit of cross-referencing a 1-min chart, I thought it would be beneficial to look at his entries and exits where he captured 31 pts in the last hour alone just scalping those little swings and see how it compared to what I noticed on the 1-min chart.
I had some active ES days and posted my blotter and got a lot of good questions, which I answered and people told me they found it very helpful.
Someone calling a live trade is helpful; you can either figure out the why of the entry or can ask about it. Or posting trades end of day I think is helpful, too, gives the exact timing of trades and you can look at how the setup would be in various time frames.
xxxskier posted ES trade blotters a few times on ET and I found it immensely helpful to me as I was a very new student of ES at the time.
are we talking theoretically or realistically?
theoretically, seeing time & sales would help disclose what was taking place there, logic behind pullbacks versus breakouts, how much heat each trade was allowed to take before it worked, etc
realistically, there was no way in hell the poster booked +63pts ES and everyone here should realize that in a heartbeat. +6.3pts? Maybe. +63.0pts? No way in hell.
first of all, ES scalpers make the least amount of $$ per turn, they capture the fewest index points of all operators. secondly, if the poster had truly done that in real time with real money, the blotter wouldn't be begged for... it would be plastered all over this thread and elsewhere in posterboard size
classic example of why real traders don't post blotters in this site any more. why the P&L thread withered and died. the false b.s. claims and blatantly photoshopped pics of monster profits from guys who, "just found this site while looking for x... obtw here's my six-figure profit day blotters I just happen to have laying around..."
this is a message board. place where people visit, socialize and garner little tidbits, couple random pieces here and there of the 100,000 piece puzzle we call consistently profitable trading. some people find this as their only outlet for social acceptance amongst peers. others find it a source of entertainment and distraction.
1min chart is fine, depending on what you look for a 2min chart can be even better
for the smoothest clarity, a bar chart such as 500(ish) tick or 5000-volume is even better... depending on what you look for as actionable events in a chart
5min setting is an absolute eternity in high volatility periods. Fine for the intraday picture, but looking for finesse entries there doesn't happen. Big swings and turning points type of chart
I doubled up at 82 and closed trade at breakeven +1 tick.
Although we broke the channels top (now it looks like bottom support) it was retested very carefully. Experience learned me that by up breaks there are very rarely problems with exits at BE, in principe I have problem once in year with this type of trade.
I could get more from trade but I have "rule in stone". If trade went against me 5 points or more (2.5-3 points in low volatility), my idea is not valid and I am starting "saving my a$$" and trying escape at breakeven. More common are problems at bottom of channels.
Although we broke the channels top (now it looks like bottom support) it was retested very carefully. Experience learned me that by up breaks there are very rarely problems with exits at BE, in principe I have problem once in year with this type of trade.
I could get more from trade but I have "rule in stone". If trade went against me 5 points or more (2.5-3 points in low volatility), my idea is not valid and I am starting "saving my a$$" and trying escape at breakeven. More common are problems at bottom of channels.
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