I like to K.I.S.S.
1. I buy the ES
2. When it goes up, I sell and take profits.
3. If it doesn't go up, I don't buy it.
Questions for experienced ES daytraders?
- Thread starter wtfauoa
- Start date
I like to K.I.S.S.
1. I buy the ES
2. When it goes up, I sell and take profits.
3. If it doesn't go up, I don't buy it.
Overnight said:
Ya' can't trade sim with real emotions and goals. In sim you can trade only with sim emotions. Don't fool yourself man.
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The SIM is a joke for learning how to trade- it is good for one thing only, leaning a new trading platform like how to put in orders and all that. I doubt any sane pilot would equate trying to land an airbus with no landing gear on a computerized simulator to be just as emotionally engaging as it would in a real airplane. Why not practice trading with real money?, just take small positions -that way your really learning something.
Ya' can't trade sim with real emotions and goals. In sim you can trade only with sim emotions. Don't fool yourself man.
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The SIM is a joke for learning how to trade- it is good for one thing only, leaning a new trading platform like how to put in orders and all that. I doubt any sane pilot would equate trying to land an airbus with no landing gear on a computerized simulator to be just as emotionally engaging as it would in a real airplane. Why not practice trading with real money?, just take small positions -that way your really learning something.
You are correct, I do not know what someone can or cannot do. I retract my statement about sim and emotions, and apologize for even hinting at the fact that trading in sim is not the same as trading in live. I guess it is the same for some people. I know nothing.
Hello, I can add a little something:
I have a system that's outlined as follows:
-RTH only
-Long only
-positions are only executed below the day's opening price
-positions are executed at predefined levels that I have marked myself. They are derived by my own observations. While there isn't anything fancy about what I'm marking, my own levels have given me the highest amount of confidence when it comes to clicking the mouse (which is really the most important part IMO).
My Reward to risk is 10 points to 4 points, and my historical win rate is just over 60% if I were to take a trade at every single level I mark.
I do try and add a layer of subjectivity to my trades however, which involves reading the DOM and order flow during the opening 3-5 minutes of the market open. I read that action and decide on a bias (whether it's a delusion or not, but again it gets me to click the mouse), and from there I will trade the levels that I see fit. I've laid my system out in the ES journal before as well, and basically nothing has changed in a very long time. Good luck!
I have a system that's outlined as follows:
-RTH only
-Long only
-positions are only executed below the day's opening price
-positions are executed at predefined levels that I have marked myself. They are derived by my own observations. While there isn't anything fancy about what I'm marking, my own levels have given me the highest amount of confidence when it comes to clicking the mouse (which is really the most important part IMO).
My Reward to risk is 10 points to 4 points, and my historical win rate is just over 60% if I were to take a trade at every single level I mark.
I do try and add a layer of subjectivity to my trades however, which involves reading the DOM and order flow during the opening 3-5 minutes of the market open. I read that action and decide on a bias (whether it's a delusion or not, but again it gets me to click the mouse), and from there I will trade the levels that I see fit. I've laid my system out in the ES journal before as well, and basically nothing has changed in a very long time. Good luck!
Overnight,
Common sense and simplicity trumps everything. Just like economic data release trumps any system setups.
Why risk my hard earn real money in a market with millionaire traders and billionaire businesses with far experience then me and computerized systems, when have no proven system that makes money or even paper money?
Why not practice my trading business in sim, fake money, for as long as I wish until I have proven I can make real money? Then enter my trading business with my saved real cash to return a real profit?
All the emotions, learning the platform, using real money is better practice is nothing more then marketing and useless talking. If you think about this trading business like a business, then it makes sense to use paper money before trading your real hard earn money.
I practice trading the ES this way as well.
I highly recommend learning with minimal costs, but I think it's hard to get a true grasp of market structure without seeing real-time order fills. Once you see the true slippage, missed trades, execution issues,etc..., you can then contour your method to adjust for those realities that paper accounts can't recognize. The implementation could turn out to be just as challenging as finding your edge.
I do not blame some of you, but those who have said they have years of experience are really giving bad advice to others. I will repeat once more. I am looking to speak with even one Elite Trader to discuss daytrading the ES with regard to ORB, BMC and TFC. How many times do I have to repeat myself for people to understand what I have said. No wonder most people who try by listening to others lose money. There is not one bit of solid advice on this thread, apart from the few live trades I posted with marked up charts. Do you not get the picture. Everything else is just gibberish, and will not help any person with anything. To daytrade the ES effectively with 10 contracts requires a certain mentality, as well as some knowledge about how the big players operate and not the small little retail trader who means absolutely nothing in the overall context of ES daytrading. Will someone with actual experience daytrading the ES on a regular basis please reply here before I give up. To clarify, daytrading means opening and closing positions from seconds to minutes to hours, but never holding overnight. Surely there must be one person here that is daytrading the ES on a regular basis and can provide details of at least one live trade with a chart marked up. What is wrong with this site. Is this really a site for traders, or is it just another wannabe site?
Can you please post details of one live trade with chart marked up?