Smacking the ER2

Thanks for that CW.

I sometimes feel too hard on myself - because of big moves I miss etc.

But I think I'm now a bit more realistic on how long it will take to really make it.

When I started in May I thought I would be trading 5 contracts by Xmas with an average of 2pts a day. I would then finish IT contracting and be a 100% pro trader.

I've now said to myself it will take as long as it takes. But every day I must consistently follow my plan period....and keep making small steps forward in terms of entries, exits and general risk/reward targets etc

I suppose I am lucky I can work in the mornings and trade in the afternoon. But I love to trade and would happily do it for half what I am earning as an IT consultant.

Cheers
 
Thanks S20....are you a fan of the ER2 too ?

I just love the thing....just been looking again at various moves this month on the ER2, ES, YM & NQ.

I'm really struggling to understand why there isn't more interest in the ER2 compared to the others. All the moves seem to be more turbo charged than the big three.

For example, Friday's Low/High range was:

- 10 pts ($1k for 1c) on ER2,
- 80 pts ($400 for 1c) on YM,
- 18pts ($360 for 1) on NQ
- 9 pts ($450 for 1c) on the ES.

I just don't get all the interest in YM and ES that you see on this site and across the web. Maybe I've missed something obvious but the charts seem to consistently show the RUT2k is top dog for bang per buck.

Thanks again for the encouragement.

Cheers
 
Well I usually start the week a bit slowly and today was no different……felt positive before the open….but made three basic violations of my trading rules and therefore had $310 worth of lessons (losses and opportunity losses)……...at least I feel I’ve had value for money and I am still strangely positive about it :)

S1(L) – great signal - failed to take – my bias was still short even though all my indicators (bar one) said high probability bounce long off 659.70

Non-Signal - entry 662.7 (15:21) – stopped out at 663.7 – made the fatal mistake of taking a signal after 1min of a 5min candle – of course the signal was not valid by the end of the candle printing – there is a good $105 lesson if ever there was one.

S2 (L) – continuation signal – entry 664 (15:41) and closed at 664.6 after exit signal

S3 (L) - entry 664 (16:22) – closed at 663.8 – as I entered the oil price went back up to test $64 – I decided to exit if it made a concerted break above the 64 level – this is not an exit signal - I just decided that my edge was now an oil price lottery.

Well another lesson this time only $185 (-0.3pts for the close, $5 comms & missing the 1.5pt break). I had held to -0.9pts on my position, but when the oil price rose above $64, ER2 held up pretty well and then broke out nicely….. I must not look at QM chart!!

S4(L) – signal - failed to take – researching on 15 min charts !!

Non-Signal - entry 661.2 (19:35) – stopped out at 660.2 – made the mistake of taking a signal with only one indicator confirmation rather than the required 2. The result was well deserved…….

S5(L) – nice continuation signal - failed to take

Why 5 long signals and no short signals – well I had a partial sell signal at 18:00 but didn’t have the second confirming indicator (but it was close). Funnily there were crystal clear sell signals at 17:10 and 18:00 on the ES & YM !!

Entries – two ok ones – three misses – two non-signals
Exits – one good one – one exit on non-signal – two stop outs
Points today -1.6pts (not including comms)

Onwards and upwards……….
 

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Quote from jessop:



I'm really struggling to understand why there isn't more interest in the ER2 compared to the others. All the moves seem to be more turbo charged than the big three.

For example, Friday's Low/High range was:

- 10 pts ($1k for 1c) on ER2,
- 80 pts ($400 for 1c) on YM,
- 18pts ($360 for 1) on NQ
- 9 pts ($450 for 1c) on the ES.

I just don't get all the interest in YM and ES that you see on this site and across the web. Maybe I've missed something obvious but the charts seem to consistently show the RUT2k is top dog for bang per buck.

Cheers
More...

Hello Jessop !

I absolutely agree with you on the benefits of the ER2. I just love this index. It's actually the only one that I feel confident trading.
Being from Germany, I started trading the Dax. The Dax is a volatility monster as well, however, it's not my cup of tea. I've been kicked in the butt by the Dax real hard, again and again.

I just pray everyday that the ER2 stays the way it is now. When I see what has become of the NQ for example, I get scared. Its daily ranges have become ridiculous.
Good luck with trading !

Marsupilami
 
Quote from jessop:

Thanks S20....are you a fan of the ER2 too ?

I just love the thing....just been looking again at various moves this month on the ER2, ES, YM & NQ.

I'm really struggling to understand why there isn't more interest in the ER2 compared to the others. All the moves seem to be more turbo charged than the big three.

For example, Friday's Low/High range was:

- 10 pts ($1k for 1c) on ER2,
- 80 pts ($400 for 1c) on YM,
- 18pts ($360 for 1) on NQ
- 9 pts ($450 for 1c) on the ES.

I just don't get all the interest in YM and ES that you see on this site and across the web. Maybe I've missed something obvious but the charts seem to consistently show the RUT2k is top dog for bang per buck.

Thanks again for the encouragement.

Cheers
More...

it is the size of positions a person trades and the liquidity that give the nod to the es for some traders over the er2. if the er2 liquidity were to grow substantially then you would see more traders move over --- and then it would go flat like the es --- LOL! :)
 
Quote from MacroEvent:

i. if the er2 liquidity were to grow substantially then you would see more traders move over --- and then it would go flat like the es --- LOL! :)
More...

PLEEEEASE NO ! :eek:

As I have been reading , this will happen, sooner or later, as it has happened with the NQ and the ES. So what am I to do ?

How does one earn money in markets that are basically trendless ? Start scalping ?

I have always been interested in that technique but have no idea how to learn it...do you scalp, Macro ?
 
Quote from jessop:

Thanks S20....are you a fan of the ER2 too ?

I just love the thing....just been looking again at various moves this month on the ER2, ES, YM & NQ.

I'm really struggling to understand why there isn't more interest in the ER2 compared to the others. All the moves seem to be more turbo charged than the big three.

For example, Friday's Low/High range was:

- 10 pts ($1k for 1c) on ER2,
- 80 pts ($400 for 1c) on YM,
- 18pts ($360 for 1) on NQ
- 9 pts ($450 for 1c) on the ES.

I just don't get all the interest in YM and ES that you see on this site and across the web. Maybe I've missed something obvious but the charts seem to consistently show the RUT2k is top dog for bang per buck.

Thanks again for the encouragement.

Cheers
More...

Very interesting thread jessop! Keep it going.
I am a former stock trader (8+ years daytrading experience) currently in the process of switching over to futures. I've been researching everything about trading e-minis and basically came to the conclusion that ER2 is the way to go. I have done side by side comparison of ES and ER2 in a demo account and I don't understand why would anyone trade anything else. I am finishing up papertrading and will be going live trading 1 contract sometimes next month. I will probably go with PFG's TradeMaven platform. Any thoughts on PFG as a broker?
 
if you guys like er2 then you will probably like eurofx (ec) as well.

it can have its quiet times, but report days more than make up for this - best to have a method for trends and consolidations when trading ec


enjoy!!
 
Blaster,

Thanks for the feedback.

I don't really know much about US brokers.....but I'm a fan of IB if that helps.

Good luck with the live trading.....maybe we can start our own ER2 Traders thread in the future !!

Cheers
 
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