Indicators are liars! Support and Resistance Trading for the S&P emini

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Sorry, you are right, it was the 14th. When the trading isnt live, I'm constantly running replays from prior days, so I messed up on the day. Yea, I agree that the move was very vertical but the PA slowed so much that I went for it with tight management. I'm really curious to know how everyone would have handled the longer vid with the TICK BB extreme showing about 2pts above the line and then moving further for the official trade. PA slowed and I couldnt see a reason not to take it aside from the line it came from was a bit abused. But I wasnt using the line it came from to make the call, so a bit confused. Any thoughts?

* As far as the first touch against the BB in an established trend, are you basing the "trend" as two large time frame LL, LH or in any trend in the day?

*In regards to the post above mine, the second panel is the showing the TICK
 
Quote from xburbx:

Sorry, you are right, it was the 14th. When the trading isnt live, I'm constantly running replays from prior days, so I messed up on the day. Yea, I agree that the move was very vertical but the PA slowed so much that I went for it with tight management. I'm really curious to know how everyone would have handled the longer vid with the TICK BB extreme showing about 2pts above the line and then moving further for the official trade. PA slowed and I couldnt see a reason not to take it aside from the line it came from was a bit abused. But I wasnt using the line it came from to make the call, so a bit confused. Any thoughts?

* As far as the first touch against the BB in an established trend, are you basing the "trend" as two large time frame LL, LH or in any trend in the day?

*In regards to the post above mine, the second panel is the showing the TICK
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The established trend I was referring to was the fact that lower lows had been made as noted in the chart. That was the trend for the day which could have been seen in most any time frame.
 
Quote from limitdown:

very nice chart, what is being shown? ES?

what is in the 2nd panel?,

very smart move to put a bollenger on the 2nd panel, very smart move

is this a 15min interval chart? (that's what it seems)
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Yes it is the ES and the second panel is $Tick on a 1 min interval which is an integral part of ESR's method as I understand it.
 
Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

Always remember to use the numbers as a guideline for potential areas of high probability plays.

Always use a set up based upon your system to enter a trade
.
Good trading all
 

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Quote from Tractorboy:

Yes it is the ES and the second panel is $Tick on a 1 min interval which is an integral part of ESR's method as I understand it.
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Personally I have a slow stochastic on my 1 minute $TICK chart. I found this worked reasonably well on the YM when combined with other methods.
 
Here are 2 more videos of live trades I took today. They are on SIM, but they looked pretty good. I took 15 trades today (a bit much) with a 68% win rate (ESR style) with a target of 2:1 but only ended 1:1. I still get out way too early and I'm working on seeing the edge diminish vs getting stopped out. ESR suggested this and said it comes with practice. I'm tweaking it a bit tomorrow, but trade management will be the difference for sure. Any suggestions would be great. I am running trade management tests over the next few weeks under different scenarios. I struggle with targets getting out too early because the initial R:R is high if wrong.

http://www.sendspace.com/file/ptlyea

http://www.sendspace.com/file/wbjyhi
 
Quote from ESResistance:

AND Resistance.

Good trading all.
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I agree that S&R levels are ultra important "usually" and for larger moves.

I disagree that indicators are useless. There are ways to use them for very reliable entries for larger moves or entries for quick in and out trades. Reliable in the 75%-90% range daily.

It all depends how you look at them and use them. They are not always what they seem and those who can see that can make them work.
 
Quote from ESResistance:

Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

Always remember to use the numbers as a guideline for potential areas of high probability plays.

Always use a set up based upon your system to enter a trade
.
Good trading all
More...
I am sorry if I missed this earlier - but it looks like your using Quotetracker right? I happen to like QT either way.
 
Quote from ESResistance:

What I advocate is the use of Support and Resistance levels as your core, to identify the areas you wish the trade and the LIMITED use of indicators only as confirmation.
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Well said - percentages can be brought to a much higher level with the fortitude to wait for signals near the levels of S&R.
 
Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

Always remember to use the numbers as a guideline for potential areas of high probability plays.

Always use a set up based upon your system to enter a trade
.
Good trading all
 

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