From Micros to Millions: 2% per day

[sstheo]

My first five trades of the day today:

Green triangle is the entry on these longs, and red triangle is the exit. The green line shows the trade was a winner.

Times are in Mountain Time. The blue line is the Open at 7:30 am.

Despite the downsloping 50 sma on my 3 tick MES range bar chart, the On Balance Volume (OBV) indicator (teal) said buying aggression was entering the market.

Because we had been going DOWN for a while, I knew the chances of a turn were increasing. So I looked for long entries. Notice I got totally LUCKY on the first 4 exits, as the market continued down hard. Whew!

 

[sstheo]

The previous chart shows perfectly why I added some volume analysis to my charts. There are things going on behind the scenes that are very valuable. Cumulative Delta and On Balance Volume are so amazing, and they improved my changed my trading completely. If you decide to use them, you only need one of them. I may write more about them later.

 

[CALLumbus]

Your trades at 7:45:xx, you are flat, then you scale in into 4 contracts (1+2+1), is that right ? I thought you only trade one contract at a time ?

 

[scalpi]

interesting sstheo !

In the same time period I only had short trades (but in the dax) and had also good profits.

That is the big thing with scalping. One trader can go long different times and the other gos short different times , both in the same time period, and both have good profit !!!

 

[syswizard]

I never said the tax will be applied. I just want to draw attention to it, so that scalpers keep it in mind.
I live in Europe and overhere they speak already about such a tax about a decade, but it was never realized.

The CME exchange fees are already exhorbitant...and they keep going up ! Any more fees and scalping will be toast.

 

[CALLumbus]

The CME exchange fees are already exhorbitant...and they keep going up ! Any more fees and scalping will be toast.

Lease a seat ?

Or switch to Eurex, and scalp the FDAX, FESX or Bund without any exchange fees !

 

[sstheo]

Next 5 trades:

Again, all long.

The trade blotter is in reverse order, with the newest at the top.

You can see the bottom trade is the same as the top trade on the previous post.

 

[syswizard]

Lease a seat ?

Yep. Theo is going to have to do that eventually.

Or switch to Eurex, and scalp the FDAX, FESX or Bund without any exchange fees !

No exchange fees ? Wow, that now makes the CME a super-ripoff. I always had the opinion that Terry Duffy was one of the greediest people on earth.

 

[syswizard]

I note that many of Theo's trades are against the trend of his indicators.

 

[CALLumbus]

Yep. Theo is going to have to do that eventually.


No exchange fees ? Wow, that now makes the CME a super-ripoff. I always had the opinion that Terry Duffy was one of the greediest people on earth.

Of course there are exchange fees for Eurex contracts, but there are ways around this. Any serious futures broker should be able to help you with this.