S/R Emini Journal

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Quote from princessa:

i had a great trading day! but not on futures.

i was checkin out the posts here, though, and it seems like folks were just hangin out, not really trading today. looked at the s&p. seemed to me to be just churning....

i think trading s&p futures profitably is one of the hardest things you can do. my hat's off to those of you who manage to do it well.

i come to this thread a lot for two reasons: one to learn and two cuz i like the vibe here - generally very kind and considerate.

:)
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Greetings,

Would you mention your good trade,QM is the only one that moved nice,unless you shorted the QG?

Why do you feel trading the ES is one of the hardest things to do?The volume suggests alot like its ability for profit.Just curious,since I would like to know the easy money market.

cordially Tom
 
Quote from Thom64:

Greetings,

Would you mention your good trade,QM is the only one that moved nice,unless you shorted the QG?

Why do you feel trading the ES is one of the hardest things to do?The volume suggests alot like its ability for profit.Just curious,since I would like to know the easy money market.

cordially Tom
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Ahh, but does the volume suggest whether they actually profit?

Second point, have you ever traded the ES?

Third point, anything that isn't daytrading is easier on the psychology, and anything that isn't leveraged makes it even better. So, swing trading of stocks comes to mind in that regard. Although, there are no "easy money" markets. If you want "easy money" may I suggest you stick your money in a bank account and forget about trading.

Cheers.
 
Quote from LondonUSTrader:

Ahh, but does the volume suggest whether they actually profit?

Second point, have you ever traded the ES?

Third point, anything that isn't daytrading is easier on the psychology, and anything that isn't leveraged makes it even better. So, swing trading of stocks comes to mind in that regard. Although, there are no "easy money" markets. If you want "easy money" may I suggest you stick your money in a bank account and forget about trading.

Cheers.
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Greetings,

I assume the volume speaks to the implied ability for a gain.If the majority are not achieving their goals with this instrument,the volume will dry up,time will tell.

I have traded the ES,but stick to the YM and QM for the majority of trades.

My honest question was what the good trade was?I dont care what instrument was used,just some clarity.

I would call a "bank acct" risk free-reward less money.If there is a list of stocks that are not daytraded let me know,I assumed any with some volume could be?I'm up for an education on anything.

cordially Tom

My apoligies,I see you were referring to daytrading by an individual,yeah alot easier on the ulcer.Although overnight moves against can be a "Tums" moment.
 
Quote from Thom64:

Greetings,

I assume the volume speaks to the implied ability for a gain.If the majority are not achieving their goals with this instrument,the volume will dry up,time will tell.
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Not necessarily. If most do not achieve their goals and then stop trading, but are replaced by more new traders that doesn't affect liquidity.

Besides, many participants in the ES are institutions such as mutual funds hedging their stock exposure that have different goals than the average individual trader.

It is my opinion that the majority of traders in the ES probably don't achieve their goals. However, that doesn't really affect liquidity. I could be wrong, but I don't really see a situation when the liquidity of the ES would ever dry up as you postulate.

It is one of the most liquid trading contracts in the world.
 
Quote from 4re:

Greetings,

I concentrate solely on the ES emini. I like to plan my trading day the night before so that when the markets are moving fast I know exactly where my entries and exits are. I like it to be as methodical as possible. For planning my trades I use support and resistances. I don't care which way the market moves. I have a Long and a short position and which ever one comes first I take it. One problem I have had with this method is that sometimes my entry gets hit in the premarket so I have to adjust and find another level of support or resistance after the market opens. I usually take one trade for the day and if it works I stay away from trading the rest of the day. If the first trade gets stopped out I allow myself one more trade to make up my losses and then quit for the day at even money minus commissions. While I will be posting an entry an exit for every trade sometimes I do tend to let my winners ride if it looks like we may be in a trend going my direction. Usually my goal will be 2 points and out. I4re
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Hi Gary,

I was thinking about the way you trade and one of the reasons I think you are successful is you have some of the fundamentals right.

(1) You focus off key support and resistance numbers giving you a higher probability trade than if you just relied on chart patterns alone. Also reduces the chances of getting caught in the chop.

(2) Your money management is sensible. By limiting yourself to 2 trades per day max you can never really overtrade or have a bad day that you cannot recover from. Although your profits are small by making consistent gains over the long run it soon adds up. Besides, I also contend that there are maybe only 0-4 good quality trades in the ES per day. So, your method is also sensible from that perspective as well.

(3) I think it is to your advantage to trade the ES solely. The more you trade a market the better you get at it and in the long term that brings intuitive benefits I think. Hard to know a market as initimately if you trade several markets or you switch from one market to another. I am a fan of finding a market you like and sticking with it through thick and thin. A bit like a relationship with a good woman. You'll have your ups and downs, but in the long run it will bring additional benefits that you don't get if you chop and change.

So, well done and keep up the good work!

Cheers.
 
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