Matcha's Dow E-mini Journal
- Thread starter Matcha
- Start date
Hi Matcha,
Excellent PnL for you today!
Your "Gap-and-Go/Consolidation Day" rule did it's wonder today. The market looked pretty flat for the rest of the day after the morning run. Way to Go!
Best trading to you!
--po
To Matcha,
Great trading!
Question...what in your opinion (or anyone else that might read this) are the main differences in trading the ES vs. YM? Example: this past Friday I made $ trading the YM only to give it up in the ES. Today, made $ trading the YM and gave it back trading the ES. I did actually finish nicely for me +$ trading the YM.
For me, it seems that the ES is "more jumpy" in that you can find yourself 1-2 points ($50-$100) real fast whereas the YM is more forgiveable...like the YM but for all the obvious reasons (able to scale up in ES), the ES would be really great to "master"...thanks for any thoughts as you are obviously in this process...
Great trading!
Question...what in your opinion (or anyone else that might read this) are the main differences in trading the ES vs. YM? Example: this past Friday I made $ trading the YM only to give it up in the ES. Today, made $ trading the YM and gave it back trading the ES. I did actually finish nicely for me +$ trading the YM.
For me, it seems that the ES is "more jumpy" in that you can find yourself 1-2 points ($50-$100) real fast whereas the YM is more forgiveable...like the YM but for all the obvious reasons (able to scale up in ES), the ES would be really great to "master"...thanks for any thoughts as you are obviously in this process...
I find the ES to be a bit "thicker" chart wise, while the YM seems a bit more fluid in the sense that there are fewer transactions along the way so the trend can be a bit easier to follow. I trade strictly off of support / resistance flips, with the occasional trendline peppered in for flavoring 
, and my eyes tell me that the flips are a bit easier to see on the YM than on the ES. If my heels weren't dug in so deeply on the ES, I would probably trade the YM instead. If I was recommending an instrument to a beginner version of myself, it would be the YM.
One thing I will say though is that my entries are always identical on both. A long sets up on the YM at the exact same time as a long sets up on the ES, it just depends on which instrument "behaves" better for your strategy I guess.
, and my eyes tell me that the flips are a bit easier to see on the YM than on the ES. If my heels weren't dug in so deeply on the ES, I would probably trade the YM instead. If I was recommending an instrument to a beginner version of myself, it would be the YM.One thing I will say though is that my entries are always identical on both. A long sets up on the YM at the exact same time as a long sets up on the ES, it just depends on which instrument "behaves" better for your strategy I guess.
ES is overtraded that is why we see the scalping. Hence, the risk reward will never be good enough to really reach the stars. Dig the hole "drawdown" and big struggle to get out with risk reward out of sync.
Thanks...what risk/reward you guys use? How many contracts per trade? Yes, thick enough to trade 10 contracts and make $500 per 1 full point
For me my R:R is 2.3:1 on the ES. My setups average between 12-16 ticks, so I typically just set my target for the lowest to ensure getting filled. I always start every day only trading 1 contract, and only up size (2 mostly, my emotions go haywire if I go beyond that) if I am feeling good.
I am also SIM trading the CL to try and broaden my horizons, and my R:R on the CL is 4.2:1. If I can get as comfortable on that chart I will most likely switch to the CL full time, since the R:R is so much better. Win rate on the ES is over 70%, but my win rate on the CL right now is dismal (38% so far). Practice makes perfect I guess!
You guys can't be serious. YM over ES. No way. If you want to be serious about daytrading you need to be in ES. You need that liquidity. Lets say you are a consistantly profitable trade. And you want to trade 20 contracts per trade. How easy is it on YM and how easy on ES?
Case closed.
P.S. Until a few months ago, I only traded YM.
Case closed.
P.S. Until a few months ago, I only traded YM.