How's the ES lately?

Cleaned up version of the first two charts

As shown in the text, if you took that short with 3 contracts
It would be reasonable to think that you could have closed it out
for 2 points x 3 contracts x $100 =$600 less commission.

I think this would be acceptable money for a retail trader trying to make it in the trading world.

Take care

Steve

Edit:

So my sense of it, is that this isn't so difficult IF you plan your move and take a small bite and get out quick. As I said before, all you have to do is plan and then execute that plan with precision (better than I did today). If you do it, you can make some money, and you have a valuable tool to use on the open. If you screw up, however, you will soon find out that this can turn into a loser (any strategy can). If for instance you have a fast market condition and price moves past your entry, DO NOT CHASE IT.
By the time you get filled you will have a loser. IF price simply moves past your limit price (assumiing you are using a limit price like I do) then thats the way it goes. Tomorrow is another day.
This is my version of Don Bright's Opening Orders Strategy. On days when I am not posting, I can monitor and get filled on as many as four indexes (YM, Naz, Emini and Russell) and manage the positions to a profit. Obviously you don't want to try it with more than one for a long while.

Take it slow.
 

Attachments

Hope i didnt distract you too much from your trading.

Would i be correct in assuming the DDF would be the initial stop loss or would it be the top of the 5min bar?
 
Steve,

Can you tell me what are your exact backtestable rules for this trade. (In case this is already addressed above, I apologize).

Richard



Quote from steve46:

Cleaned up version of the first two charts

As shown in the text, if you took that short with 3 contracts
It would be reasonable to think that you could have closed it out
for 2 points x 3 contracts x $100 =$600 less commission.

I think this would be acceptable money for a retail trader trying to make it in the trading world.

Take care

Steve

Edit:

So my sense of it, is that this isn't so difficult IF you plan your move and take a small bite and get out quick. As I said before, all you have to do is plan and then execute that plan with precision (better than I did today). If you do it, you can make some money, and you have a valuable tool to use on the open. If you screw up, however, you will soon find out that this can turn into a loser (any strategy can). If for instance you have a fast market condition and price moves past your entry, DO NOT CHASE IT.
By the time you get filled you will have a loser. IF price simply moves past your limit price (assumiing you are using a limit price like I do) then thats the way it goes. Tomorrow is another day.
This is my version of Don Bright's Opening Orders Strategy. On days when I am not posting, I can monitor and get filled on as many as four indexes (YM, Naz, Emini and Russell) and manage the positions to a profit. Obviously you don't want to try it with more than one for a long while.

Take it slow.
More...
 
So, you took a short above the DDF line on a 5-minute shooting star ?

I mean, isn't it like counter to the whole DDF line theory to be taking a short above that line?

edit: especially on a day when it gapped down where it migh go back and test yesterday's close.
 
bronks doesn't need any detailed explanation.. brains are required to decipher those.

He just wants you to wire some money you made today into his bank account so he can kick back and relax.


People don't want your information steve,
We just want your money.

Steve give out your money! Who needs knowledge, all of what you are saying is crazy stuff.
Seasonal? We aren't peach farmers.

Just wire over some money we'll be happy.

hope to get a bank conf soon! thanks.
paypal is good too.

no more charts plz
heads hurting, lost my brain a few years back.
 
Probably a stupid question but i see plenty of charts : why starting a thread about the ES?
It's about everything EXCEPT about the ES.
Plenty of charts but not a single one about the ES.

I suggest we start a thread about the weather and post pictures about Microsoft.

:)
 
Yes thats the fascinating thing about the creative spirit. Sometimes we bend the rules, and the bean counters get mad.

Sorry to have inconvenienced you.

Moderator, if you would erase my posts, then everyone can get on with their work on the ES contract.

You are right I apologize.

Best Regards,
Steve

Edit:

Okay then, got as many of mine as I could. Moderator if you will take care of the rest I appreciate it.
 
This is what steve will not share, so do not even ask...I would pay anything to understand this technique he only vaguely hinted too...steve is truly a master trader.

Michael B.


I will post a cleaned up version of those charts when I have a moment. I am trying to monitor multiple markets as we speak.
 
Michael:

Thats just plain silly. You're an intelligent man. Before the moderator erases the first posts, print them out. Everything you need is right there. Arzoo didn't have any problem with my explanation.

As I mentioned to Rickty, I dont feel any resemblance to your mothers :D I like to help but don't want to get into the habit of spelling out every last detail. Put some of yourself into the process. That way you will get much more out of it, as it will truly become your own.

Good luck

Steve
 
spike.. its just a sign of times.

Lately, nobody around here trades the ES due to the what is it, 2 point ranges? Thus, they substitue with the best they could. ER and YM etc.
 
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