S/R Emini Journal

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Quote from monti1a:

if it ain't broke...don't fix it....:)
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This is a good point. My opinions are asked on here more than most due only to the fact that I started this journal. So I do give them the answers as I see it. But for the people that are already happy with they are doing I think they should not change.

I don't plan on changing the way I enter or exit my for any reason at this time since it is working for me. Markets always change and there may come a time when my methods are not as accurate. Instead of changing my method I'll probably seek a different market first. If that doesn't work I'll look into changing method or retirement.

Thanks,
4re
 
Quote from monti1a:

my levels for Erussell have not been hit

still long above 745
still short below 706

thought I'd add a P&F chart for a different perspective on the s/r levels......I often use P&F to confirm my visual analysis of the bar chart...
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Very clear to see your S/R levels. Don't know much about Russell though. How many points do you normally go for and what is the pay out per point on Russell?
 
Quote from 4re:

Very clear to see your S/R levels. Don't know much about Russell though. How many points do you normally go for and what is the pay out per point on Russell?
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4re-

The Russell pays $10 per tick (0.10) or $100 per point...I prefer the russell because the spread is much smaller per point than the ES or NAS..therefore, I can usually go market when entering or exiting.....also, "in my minds eye" the russell just appears to trend better than all of the other emini's...this is definitely only my opinion though.....

in terms of how many points I go for...it varies depending on whether I'm hitting my weekly profit goals...I'll start out by taking half off at 4-ticks, move my stop to 7-ticks back, and sell the remaining half at 20-ticks...therefore, I get to risk-free on the 'vast majority' of my trades...it is my opinion that the primary goal of each and every trade is to forget about the profits and just try to get to RISK-FREE as quickly as possible....this has worked for me...(picked this up from Hubert Senters, a master trader)...

after I'm satisfied with the level of profits for the week...I'll change and take half off at 4-ticks, move stop to 7-ticks back, sell another half at 20-ticks, and let the remaining half run "as far as possible" (no rules on the last half).....hope this helps.....
 
Quote from monti1a:

my levels for Erussell have not been hit

still long above 745
still short below 706

thought I'd add a P&F chart for a different perspective on the s/r levels......I often use P&F to confirm my visual analysis of the bar chart...
More...

Hey monti1a,

You've got a unique asenal of tools in your "trader's toolbox". Which all well and good, but I have a question about the P&F chart.

Do you ever take trades off of the P&F patterns, or just use the wide range S&R? You could probably take a buy at 741 or a sell at 729 it looks like if you were using the P&F patterns.

Best,

Jimmy
 
Quote from JimmyJam:

Hey monti1a,

You've got a unique asenal of tools in your "trader's toolbox". Which all well and good, but I have a question about the P&F chart.

Do you ever take trades off of the P&F patterns, or just use the wide range S&R? You could probably take a buy at 741 or a sell at 729 it looks like if you were using the P&F patterns.

Best,

Jimmy
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Jimmy-

I started watching this thread....much thanks to 4re....in an effort to add a lot more trades to the number of trades that I normally take per week....so as of right now I'm trying to get a variation of 4re's style of s/r trading consistently profitable first in DEMO (I use Ninjatrader) before I go live.......

I will take those russell trades in DEMO if they trigger and meet my criteria......

you could take the 741 long or 729 short...however, I would like the russell to clear those major levels at 745 or 706...for more uuumphh....


I've used P&F on and off, and thought, hey, I might be able to combine it with 4re's s/r style so that I can see the levels a little clearer...so far I had two winning s/r trades last week (out of two trades taken) in DEMO......just on the russell alone...I think I can boost that to 6-8 per week across YM and ES.....that's more than enough for me......
 
Quote from monti1a:

4re-

The Russell pays $10 per tick (0.10) or $100 per point...I prefer the russell because the spread is much smaller per point than the ES or NAS..therefore, I can usually go market when entering or exiting.....also, "in my minds eye" the russell just appears to trend better than all of the other emini's...this is definitely only my opinion though.....

in terms of how many points I go for...it varies depending on whether I'm hitting my weekly profit goals...I'll start out by taking half off at 4-ticks, move my stop to 7-ticks back, and sell the remaining half at 20-ticks...therefore, I get to risk-free on the 'vast majority' of my trades...it is my opinion that the primary goal of each and every trade is to forget about the profits and just try to get to RISK-FREE as quickly as possible....this has worked for me...(picked this up from Hubert Senters, a master trader)...

after I'm satisfied with the level of profits for the week...I'll change and take half off at 4-ticks, move stop to 7-ticks back, sell another half at 20-ticks, and let the remaining half run "as far as possible" (no rules on the last half).....hope this helps.....
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Monti,
Thanks for the info. Just that the Russell is the one that I know absolutely nothing about...

I do think I am going to be looking into the YM a little more and I am going to post a YM chart with my calls on it starting tomorrow. I'll see how it goes in test and I might start working with it some as well as ES. I have always been better at calling the DOW than any other market anyways so hopefully that will go towards the emini as well.
good luck with the Russell and happy trading...:)
 
Quote from porgie:

HUBERT SENTERS IS A SMART MAN
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agree Porgie...my trading instantly turned around since following his advice....besides you can't argue with a man who is able to trade 60 to 100+ contracts successully on a consistent basis, and who will show you his own p&l....the proof is in the pudding
 
Yeah he must be pretty smart...getting over 300 subscribers to pay $300 a month produces a pretty nice cash flow I'd say.
Did more talking than trading during my membership. 7k for a 4 day mentorship too.
If hes so good at trading why is he running a chat room ?(other than the 90k monthly cash flow it generates ???) esp. after divulging they(he and JC) made 130k and 150k two mornings . Pretty bold claim(esp. in light of IT's recent problems).
Tell me he's doing it for altruistic reasons...
 
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