Which I love doing. Gurus spout off it is the wrong thing to do. Their useless advice of cut losses short and let the profits run sounds good in theory but does not work very well in the real world. Traders have been following that BS advice for decades. Did I hear most traders lose?
Techniques for Day Trading the ES, NQ, YM, MES, MNQ, and MYM
- Thread starter volpri
- Start date
Is it confusing? Then it probably is in a range. Confusion is the hallmark of price being in a range. When in a range I have to apply range trading tactics. There are several. I have expanded on some. You might want to read my posts again and study them. I trade off a 5 min chart with an occasional GLANCE at a 15 or 30 min just to see where the price action in the 5 min chart is located at in the 15 and 30 min charts. Context is far more important than candle colors.
Yes, but "context candles" sometimes change color many times, that's the problem
Remember the market cycle. Range to Trend (composed of BO and channel) to range. There are multiple tactics for trading all three phases. That is different tactics for trading range. Different tactics for trading BO's, different tactics for trading channels, different tactics for trading ranges. IMO a trader should learn the different tactics for all three phases in the cycle. Then it is a matter of applying them and executing them.
Yes, it is best to pick one time frame to trade. I trade 5 minute but will occasionally trade 1 minute but don't really like too as I don't get enough time to make sound decisions on a one min chart. I trade the 5 minute chart and it is my main chart, but may dial down to a 1 minute to fine tune entry.
I don't look for trends or ranges or BO's to trade. I just observe what is happening and pull out a tactic out of the tool box to employ in whatever is happening. If it is in a range I use range tactics. If in a BO I use BO tactics. If in a channel I use channel tactics. I just identify whatever phase the cycle is in and use the appropriate tactics or techniques.
Well I guess you can swing trade if that fits you better. I am just showing how I trade.
Today crawled my carcass out of bed. Washed my face. Rinsed my mouth. Turned on the computer look at what had happened since the open (it was around 9:15 chicago time when I hauled my carcass out of bed) and immediately started trading. ES and the NQ. Within a few mins (35 on Es and 20 on NQ) made 425.00 on the ES and 550 on the NQ. Quit for the day as I have other things to attend to. But 975.00 gross for the day. That was trading two contracts at a lick in each instrument. Very very very small trades.
Now let your imagination run away; if I traded 10 contracts at a lick??? I will take that any day over swing trading. Who wants to sit around and wait 4 days for profit? Not me. If gnome wants to I guess he can.
Opening, this morning, I really don't know how he does it, I can't
Actually I would have more of a bearish view. While price broke out of the top of the channel and has FT the larger context (long bear channel) has influence over this sideways movement it now is in. The sideways may end up bear being a bear flag and price continue down. Also because of the larger context when a BO does occur of the range that is forming at the far right side of your chart the odds favor a bear BO of the channel.
I said all this to say I still have a slightly bearish view of this chart. Nevertheless, anything can happen. If it breaks out north of that range that is forming then that would be the unexpected event happening and I would go long expecting a MM up.
If it breaks south out of the range I am shorting as the larger context supports that. That doesn't mean I will follow it very far. Because any BO south could very well be a larger range just forming for the day with a reversal up towards the to of that range in your chart, later on in the session. But I would short the BO south of the forming range in your chart but not necessarily follow it too far. Why? Again, we go a long channel down. Remember market cycle BO... channel.. range. We may just get a large range today and the range in your chart at the far right ends up just being a range within a range at the top of the coming larger range. Therefore, In both BO scenarios I will be locking in profits and entering/exiting multiple times.
Last edited:
Look at the context PATTERNS. Range? BO? Channel? Context=what phase the cycle is in on those TF's (5 min..15..30..). In any phase there will be red and green candle sticks.
I could make it more confusing for you but I am not sure you can bear it. Maybe later on. Suffice it to say each candle tells a story. But candles are in a context. And the context on a 5 min chart is in a larger context on a 15 and 30 min chart. Comprendo?
Hey . Don’t despair seeing all those winning trades and no losing ones. You’re not the only one not being able to “do it”.
I really enjoy the read but it might be a bit too good to be true. If it’s indeed true we all have a hope so so let’s ask Volpri (if he hasn’t done so yet) to provide us with the proof that those are all the trades he’s taking so we can all relax and learn.
Volpri, can you please confirm that you’re not selective on the trades you share in this forum ? Regardless it’s really entertaining so don’t stop. Thanks.