Stopped. Back to paper-trading. Pitbull... Thanks for your information, I'll definately take those into considerations. Thanks.
My Daytrading Method
- Thread starter eminitrader007
- Start date
Stopped. Back to paper-trading. Pitbull... Thanks for your information, I'll definately take those into considerations. Thanks.
Paper trading is KEY to formulating a winning trading plan.
It is like practice before gameday, or spring training before the season starts,
You'll get killed if you don't papertrade first,
Stacy
It is like practice before gameday, or spring training before the season starts,
You'll get killed if you don't papertrade first,
Stacy
Pitbull -
Keep up your babbling. I'm sure many of us appreciate your insights very much. Thanks for your contributions to this thread.
Sandy
Keep up your babbling. I'm sure many of us appreciate your insights very much. Thanks for your contributions to this thread.
Sandy
There is something that I noticed after going through the Feb numbers vs. the March numbers.
I checked the YM, ER2, NQ and ES. On those days when I had big wins the value-range were positioned perfectly. What I mean by this is that if the value-range for ES is towards the low of the day, the value-range for YM, NQ and ER2 were also towards the low of the day.
For example: Here are the value-ranges for today based on yesterday's price action.
Value-Range Yesterday's Range
YM: 11385-11400 11295-11412
ES: 1306.5-1307.5 1305.5-1321
ER2: 746-747 740-755.5
NQ: 1700-1705 1690-1728
In this case YM's VR was close to the high of the day, NQ and ER2 in the lower 25% of the range and ES was near the bottom of the range. This shows that the next day will probably be range-bound.
I went back and looked at other days in Feb and March and it held true and I'm sure it will hold true in the future as long as I DO NOT trade actual money.
I checked the YM, ER2, NQ and ES. On those days when I had big wins the value-range were positioned perfectly. What I mean by this is that if the value-range for ES is towards the low of the day, the value-range for YM, NQ and ER2 were also towards the low of the day.
For example: Here are the value-ranges for today based on yesterday's price action.
Value-Range Yesterday's Range
YM: 11385-11400 11295-11412
ES: 1306.5-1307.5 1305.5-1321
ER2: 746-747 740-755.5
NQ: 1700-1705 1690-1728
In this case YM's VR was close to the high of the day, NQ and ER2 in the lower 25% of the range and ES was near the bottom of the range. This shows that the next day will probably be range-bound.
I went back and looked at other days in Feb and March and it held true and I'm sure it will hold true in the future as long as I DO NOT trade actual money.
Quote from Cheese:
Paper trading is useful when testing especially if carried out rigorously and continuously for the day.
This is your second reply in this thread and I neither got the first reply nor this one. What exactly do you mean?
Back to paper-trading for a month:
See how it goes.
Value Range:
ES: 1308-1309
ER: 749-750
NQ: 1685-1687
YM: 13344-13352
Pivots for ES
O+H+L = 1308
H+L+C = 1310
I want YM and at least two other indexes to open higher for a long trade and YM and at least two other to open lower for a short trade.
Reasons to follow......
See how it goes.
Value Range:
ES: 1308-1309
ER: 749-750
NQ: 1685-1687
YM: 13344-13352
Pivots for ES
O+H+L = 1308
H+L+C = 1310
I want YM and at least two other indexes to open higher for a long trade and YM and at least two other to open lower for a short trade.
Reasons to follow......
Interesting...Ive seen folks use the current days open plus the high, low and close from the previous day and divide by four but never the previous days open.....whatever works....I like the 1311 and 1317 areas......hoping for higher open to sell into but we'll see....lotsa fun
If you look at the long-term chart 1318-1320 should provide some resistance. If we break past 1323, we could be headed much higher. If we get a long signal today, my target will be 1319.
For agressive traders it might make sense to short at 1319 with a stop at 1323.
Then I'll use the current day's open too.