Micro E-mini Madness (2% per day)
- Thread starter sstheo
- Start date
Net, after taking out $.78/trade. I look at the AMP statement at the end of each day for the real number.
You are doing really well. I wouldn't change a thing.
I once interviewed at a prop trading firm and one of the questions they asked me was: "What was the common denominator between successful poker and blackjack players vs successful traders?" The question caught me off guard and I blanked and didn't get the job. The answer they were looking for was: Knowing and understanding Probabilities and leverage!
I did well today. The market was highly volatile and WAY DOWN after a huge spike up at the open. I is currently down 1% on the ES. I decided to stay out until we got some reversal action, and I got some. I am up $50+ dollars today. Patience paid for me today.
Here is something I wanted to share that is really significant in my trader development. I have mentioned this before, I think, but I found a good short article to emphasize the message.
In my early trading education, I missed something very important, and that is the expansion trade. Especially with the floor pivots, I have always seen them as reversion points. Well, they MAY be, but it is also probable that S1 and maybe even S2 (or R1 and R2) are "go with" zones in a strong trend.
I am sure everyone reading this blog knows all about these trades, LOL, but I am still learning and trying to master them:
https://tradingsim.com/blog/pivot-points/
Here is something I wanted to share that is really significant in my trader development. I have mentioned this before, I think, but I found a good short article to emphasize the message.
In my early trading education, I missed something very important, and that is the expansion trade. Especially with the floor pivots, I have always seen them as reversion points. Well, they MAY be, but it is also probable that S1 and maybe even S2 (or R1 and R2) are "go with" zones in a strong trend.
I am sure everyone reading this blog knows all about these trades, LOL, but I am still learning and trying to master them:
https://tradingsim.com/blog/pivot-points/
Wow, I am glad I am not swing trading these micros. I would have been wrong for sure on the overnight trade, looking for an overnight bounce, which didn't happen! Down down it went overnight. This is the daily delta volume ES chart.
Today I am looking for neutral range trading or longs, hoping for a bounce. Maybe we will get one more big push lower???
Today I am looking for neutral range trading or longs, hoping for a bounce. Maybe we will get one more big push lower???
Today was totally a crazy day in the markets. I started with 3 concurrent trades today finally, and I got a few bounces off the lows today. I ended up with my biggest micro day so far at over $100. I knew that the pressure was on the bears to keep going down and assumed correctly that if they couldn't hold it down that we would get a nice pop, which we did. The bears were 5:1 active over the bulls yesterday, and that cries out "Emotional Extreme!" and that is usually a great turning point in the market after a washout low, which is exactly what happened this morning. I might have tried for more $ with all the volatility, but I decided to take my toys and leave the sandbox until tomorrow.