Profitable ES Daytrading Style Survey

[NihabaAshi]

Quote from pretzel:

Just wondering what trading styles are used by profitable ES daytraders. I monitor some chatrooms and many have opposite styles (taking opposite trades at the same time) but still net profitable. Other parameters might include targets and stops and timeframe used.

pretzel

I didn't see my category in the poll...

5. Trade with the trend after reversing from the prior trend (none or very little consolidation in between).

Yes

Sometimes called Trend Reversal traders (don't get this confused with top and bottom pickers).

NihabaAshi

 

[pretzel]

Quote from NihabaAshi:



I didn't see my category in the poll...

5. Trade with the trend after reversing from the prior trend (none or very little consolidation in between).

Yes

Sometimes called Trend Reversal traders (don't get this confused with top and bottom pickers).

NihabaAshi

This is the hard part. How do you know that your entry point is a true trend reversal or just a retracement (point 3 or C wave)?


pretzel

 

[NihabaAshi]

Quote from pretzel:



This is the hard part. How do you know that your entry point is a true trend reversal or just a retracement (point 3 or C wave)?


pretzel

pretzel,

That's a very good question and there are ways to avoid trouble regardless if a trader is aware of waves or not.

pretz...I'm not very knowledgable (I don't spend as much time with EW as I want to) of Elliott Wave stuff although I do understand basic concepts about it.

Yet...that's what stop/loss protection is for...when I'm wrong.

NihabaAshi

 

[dbphoenix]

Quote from pretzel:



This is the hard part. How do you know that your entry point is a true trend reversal or just a retracement (point 3 or C wave)?


pretzel

Put in its simplest terms, if you're shorting a lower high, you are more likely to be entering a reversal, particularly if the uptrendline has been broken or will be broken by your entry.

 

[wercurna]

Quote from NihabaAshi:



I didn't see my category in the poll...

5. Trade with the trend after reversing from the prior trend (none or very little consolidation in between).

Yes

Sometimes called Trend Reversal traders (don't get this confused with top and bottom pickers).

NihabaAshi

NihabAshi,

Can you explain the difference between what you do Trend Reversal Traders and picking bottom or tops.

Thanks,

 

[pretzel]

Quote from dbphoenix:



Put in its simplest terms, if you're shorting a lower high, you are more likely to be entering a reversal, particularly if the uptrendline has been broken or will be broken by your entry.

That should be a good entry point, but I think what NihabaAshi had in mind is an earlier entry (right after turning down from the first high) .

pretzel

 

[pretzel]

Quote from candletrader:

For me: all of the above and more... but I also make sure of something that isn't in your list: I keep my stops...

What happened to the URL in your signature?

pretzel