Micro E-mini Madness (2% per day)

volpri said:
...To answer your question if it was me: If I had a 71% win rate I would have no trouble trading up to 10 micro’s preferably averaged down into the position with a 6,500 account but I have to know what I am doing and can cut loses when I need to and am not afraid to double up and reverse when I get the direction wrong. Not every trader can do this. Especially, if mama is looking over the shoulder. LOl. Now this is not trading advice but only my opinion on the matter.
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Yer high. As in, a high win-rate does not guarantee success. That is the sneaky bit and trap that averaging lulls you into. It is subtle. You can have a 9 winner run of +10 bux per lot, and that one niggle at -100 bux per lot in your averaging. So your win rate is 90%, but the one huge loser in your basket dropped your profit to -10 bux.

I know where you are coming from, volpri, and I know where you are going. Trust me when I say, these new Trump Trade times are not the times to start messing with it. It may bite hard. It is just not WORTH THE RISK.
 
sillyw10 said:
I think the thread is going nowhere at the moment..those serious about trading will lose interest very quickly..as I said recently..a lot of "talk"..and it means absolutely nothing!!!

once you start seeing silly GIFs and the likes..look out..only one way from there on out!!!!!
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Today was a holiday, so no harm done. I will begin trading again tomorrow. I can't promise I won't post silly gifs. WAIT, your name is "silly!" You are the last person to complain about silliness. Here, I will leave you with this for the night:

Indicators.jpg
 
sstheo said:
As a discretionary trader, this is a tough question for me to answer.

Are you talking about my favorite setups?

But if you are asking for a crystalization of my methodology, I would say I am
  1. A well-trained momentum scalper looking at the fast chart
  2. An intermediate market delta trader looking at the intermediate chart
  3. A beginning volume profile trader looking at the bigger picture.
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Nevermind to that post. You've been in this trading business much longer than I do and so, I have nothing much to say. hehe...

Since we are trading the same kind of market with the difference of micro and mini futures I'll drop by here and there to contribute to your thread during spare time.

In my past I spent years with hard works to research and test all kind of scalping, day and swing trading strategies. I were luckily enough to come up with few that produce high winrate which allow me to make small and decent profits for many months. I recently continue to refine these strategies further by implementing a stop-loss mechanism so I can avoid being emotional and get distracted. The only problem I still encounter with is discipline because I still make mistakes with following my rules. These mistakes tend to happen during those high volatile moments or countertrend trading during trending days. I just figured out a way to put a stop to those bad habits.

Let's bring this trading business to the next level, shall we?
 
ElectricSavant said:
Excuse if this is rude, I do not mean it to be. This does not make sense to me. Why would a serious trader trade from a phone? Especially with leverage.

ES
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Because most of the day I'm on the go. I'm rarely on my personal computer anymore. 100% of my equity trades the last few years have been mobile.
 
Most traders I talked to today struggled a bit. I was no exception; I ended down $38 for the day. My problem today was that it seemed that EVERYONE was bearish. And to me this means it is time to "buy the dips" which we sure had in abundance. But the crowd was ultimately right today. Down, down we went.

But I think Mr. Market has a surprise for everyone tomorrow.

But of course it doesn't matter what I think. Tomorrow, and all days, all that matters is what I see.
 
sstheo said:
Most traders I talked to today struggled a bit. I was no exception; I ended down $38 for the day. My problem today was that it seemed that EVERYONE was bearish. And to me this means it is time to "buy the dips" which we sure had in abundance. But the crowd was ultimately right today. Down, down we went.

But I think Mr. Market has a surprise for everyone tomorrow.

But of course it doesn't matter what I think. Tomorrow, and all days, all that matters is what I see.
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Mr. Market is open right now, and it is looking bullish.
 
I use the value area from the previous day. Value Area High & Low. Point of Control, and then the Overnight Highs and Lows, and the Regular Trading Hours Highs and Low of Day. I also have the VWAP on here (Volume Weighted Average Price).

Right now, I see that the Cumulative Delta (blue) which reads the buying and selling aggression is pointing down. However, the market has been hanging out in the upper half of the HUGE range of the last month. I think the overnight surprise will continue to surprise as we take out the ONH. (Big picture thoughts).



upload_2019-9-4_8-40-32.png
 
I am done trading for the day. Up $59 gross. I took 4 long MNQ trades and 3 long MYM trades.

(Even though it is small, $59 gross is like $590 on the regular E-minis, and represents over 5% gain on the account in one day.)

In all cases it was because we looked oversold, and I expected more bullish moves because of the huge overnight long surprise.
upload_2019-9-4_8-57-33.png


So I made up for yesterday's losses, but after fees, I am right back where I was on Monday. Such is the life of a trader. We don't fret over the past but immediately move on to new possibilities. Now, I just need to do this in the rest of life!

My second daughter is getting married on Saturday, so I may not be doing much trading the next couple days. The reception is in my backyard! Gotta lot to do...
 
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