Oh No, NOT Another S&P EMini journal...

Just curious, since I don't have the time during the day to actively trade like you do, what kind of spreads do you have to deal with when you trade ES?

I realize the commish is only a handful of $'s, but are the spreads on ES much of an issue as far as your profitability?

FYI - I trade mostly Calendar spreads on indexes and occasional credit spreads. Am somewhat jealous about your ability to go flat at the end of each day.
 
What time of day are you placing orders?

You dont have any edge.

Quote from goodday:

1. All trades will be closed the same day unless otherwise noted.
2. Technical Indicators used are:
Tick
Bollinger Bands
Stochastic
MACD
These are the ones usued regularly. Others maybe used on occasion
3. Trades opened and closed using one minute chart. If the market goes against me, 5 minute chart (occasionally 10 minute chart) will be used to exit trade.

Other criteria will be posted as I examine my decisions.
More...
 
Hi nlslax
I never enter market orders (rarely is better, never is too strong), only limit orders.
Generally I look for two tick profit, though sometimes I get lucky.
I scale in and scale out all day long.
 
Trades in the 9.00 - 10.00 AM (EST) trade window:

Long 40 contracts ESU
closed for a profit $1500.00
Flat before the 10 AM news.
 
Trades in the 10.00 - 11.00 AM (EST) trade window

Trades after the economic news:
Short 35 contracts ESU
closed for a profit $625.00
This was a bad trade. I shorted too late, and market started going up. I averaged down and saved my skin.
 
To: katesdp

Yes, I don't have an edge. I don't know how to buy one. I don't mean to be facitious. The only way I see (in my naiive understanding of the markets) I can have an edge is if I am managing a billion dollar hedge fund and can control the market direction to some extent.
I am humble enough to know that every time I am pulling the trigger, some one else is on the opporsite side of the trade, and that I have greater than even chance of being someone's lunch. I tread gently... and hope to stay alive at the end of the day.
You are right. I have NO edge... I trade in the shadows of the big guys and pick up scraps left on the table....
Can you suggest a way I can get an edge? I am eager to learn.
 
Trades in the 11.00 - 12.00 noon (EST) trade window:

Short 30 contracts ESU
closed for a profit $1812.50
Flat before noon time lull.

Comment: In the last hourly trade, in retrospect, I got out of shorts too quickly, based on the one-minute charts. So, I got back in, after 11 AM charts, and took advantage of the down trend.
 
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