S/R Emini Journal

[BoyBrutus]

So far we have a 4 point range with volume declining all day. A breakout above or below should give at least 2 points (typical narrow range at least). I'm looking for upside hoping for one last push down with a pivot up. something like a fake out bar. Then again maybe just up as I type. :eek:

 

[4re]

I do like the idea of going for base hits here though. 1 point scalp or 1.25 to pay for commission.

 

[romik]

long explosion lol

 

[4re]

Quote from romik:

long explosion lol

I know it. I think with all these needles going on all over the place I am giong to take the safe route and not trade today. I'll take my loss on the chin and get my revenge next week.

 

[romik]

Quote from brightstone:

How do you determine the angle for the bottom yellow trend line? I would have drawn it a little steeper.

in this case simply last couple of days lows

 

[4re]

Quote from DonKee:

For those of you who scalp for 1-2 points on ES and haven't looked at the ER, consider:

ATR(10) ER=10 points or $1,000

ATR ES(10)=10 points or $500

To get a 1 point or $50 profit on the ES you need a 1.50 move (due to selling on the bid buying on the ask).

To get a $50 profit on the ER you need a .70 point move.

Which is easier?

.70 of the ATR of 10 is a smaller move than 1.50 of the ATR of 10 by half the amount.

Of course, this works both ways, but for scalping I have found the ER to be easier than the ES.

Hey Don,
About the ER, is their good liquidity in it and what is the typical margin requirements for it? I might start looking at it next year. I like to specialize for a while before moving on.

 

[Patricio]

Quote from DonKee:

For those of you who scalp for 1-2 points on ES and haven't looked at the ER, consider:

ATR(10) ER=10 points or $1,000

ATR ES(10)=10 points or $500

What about liquidity Don, especially if you are trading more than 20 contracts?

 

[5Pillars]

ER2 is too thin for me.......NQ is OK for some trades as the liquidity is better.

ES is the king, so I stick with it in all of its inefficiencies.

 

[romik]

Quote from 5Pillars:

No it is showing that we have a lack of interest and no "accumulation" yet ----- more like overall equilibrium with sideways range chop at this point of the day.

Also, there is a bunch of sellers between 1329.00 and 1330.00 that we would need to get through to get a real push today.

I just look at accumulation in a different way, you obviously are looking at what's happening number wise, I don't.

 

[5Pillars]

Quote from romik:

I just look at accumulation in a different way, you obviously are looking at what's happening number wise, I don't.

Yes I look at the numbers, and I have backtested thresholds that I pay attention to....today is just playing in the middle of the road so far (right in all the traffic....ouch :eek: ).