ES Mechanical Madness

Summary

Points of previous profit this month 0.0

Breakout -3.25*7 = -22.75

Points of closed profit after today -22.75

Open positions: Swing - Long 7 from 1149.00 no overnite stops so the stop will be adjusted in the am. Last stop was set at 1153.75.
 
I can't figure out how can you trade one account with 3 systems. For example you're holding 1 contract long position over night. Next day the system call for short, so what you do? You short 2 contracts? Your swing stop is not reach yet.
That why I'm I don’t understand. I understand you're using breakout, reversal and swing. Could you explain me again? Thanks.
 
No...you dont short 2 contracts.

Just follow all the rules and it all works out right.

Example... for simplicityly, lets say we only trade 1 contract
at a time.

System A says go long 1 contact - buy 1 contract
Later...System B says go short - cover 1 contract
Later... System B says cover - buy 1 contract
Later....System A says sell - sell 1 contract

Balance: All trades closed - 0 contract balance :)

peace

axeman



Quote from winminn1:

I can't figure out how can you trade one account with 3 systems. For example you're holding 1 contract long position over night. Next day the system call for short, so what you do? You short 2 contracts? Your swing stop is not reach yet.
That why I'm I don’t understand. I understand you're using breakout, reversal and swing. Could you explain me again? Thanks.
More...
 
Thanks for explaining axeman.

To Msprofitable.

You day trade breakout and reversal systems. Also trade swing. Now you’ve 7 contracts at 1149.00 for swing trade. My question is tomorrow your day trading breakout system call for short, what’re going to do. Your swing mental stop is not reach yet.
I understand if you day trade with one account. I’m not clear that when you mix with swing trade. If you’ve 2 accounts, you trade one account for swing and the other for day trading. Thanks.
 
Quote from winminn1:

Thanks for explaining axeman.

To Msprofitable.

You day trade breakout and reversal systems. Also trade swing. Now you’ve 7 contracts at 1149.00 for swing trade. My question is tomorrow your day trading breakout system call for short, what’re going to do. Your swing mental stop is not reach yet.
I understand if you day trade with one account. I’m not clear that when you mix with swing trade. If you’ve 2 accounts, you trade one account for swing and the other for day trading. Thanks.
More...

I'm long 7 right now. If I get a short signal for breakout then I'll sell 7 contracts (which will make the overall position flat). Then if the market moves higher and hits the stop on breakout, then I'll buy 7 contracts which would cover the short and put me back in the long 7 position for swing. If it keeps dropping and I get a exit signal for swing then I'll sell 7 contracts to exit that position and the overall net position would then be 7 short. It's not very tough. In our family account we trade 8 systems in one account without any confusion.
 
Thanks for clearing me. I day trade 2 ES and 2 NQ with the bankroll of $ 25,000.00
Its compare to your trading size and bank roll how many contracts should I trade using day trade and swing?
 
Quote from winminn1:

Thanks for clearing me. I day trade 2 ES and 2 NQ with the bankroll of $ 25,000.00
Its compare to your trading size and bank roll how many contracts should I trade using day trade and swing?
More...

I think the number of contracts to trade is hard for me to help. I think it depends on how good your method is, the expected drawdown, and your goals. My goal is for a 50% return per-year and I expect only small drawdowns. Very rarely do all 3 of my systems trigger going in the same direction. Normally I have 1 or 2 of them going in one direction. If 2 are active then I'd have 14 contracts open at one time. My account is about 300,000 so my leverage would be about 1 contract per 20,000.
 
Thanks for helping me. You’re very nice to answer my questions. Now I got the idea how many contracts I should trade. I’d been trading for 5 years. I start with option and then Nasdq day trading also Nyse. As usual I lost money.
I’d start trading ES and NQ because of up tick rules. I was trading ES for about 1 ½ year. Last year I start making money. My trading systems are very similar to your. Can you share the idea of swing trading? If you can’t I understand it’s OK. If you do, you can send it to my e-mail as bellow.
Winminn1@comcast.net
I understand that if you copy successful people, I’ve a chance to be succeeding too.
Thank you.
 
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