Techniques for Day Trading the ES, NQ, YM, MES, MNQ, and MYM
- Thread starter volpri
- Start date
forget the labeling on my chart Overnight. I was up to around 3 a.m. this morning. I ain’t redrawing..labeling stuff again..ok ...so I will just give a simple explanation.The very first trade on my chart was a short and I exited with 1 tick profit (2 contracts but down 2.38 after the comm) all the rest of the trades I was pyramiding..some call “it scaling in” as it moves in my favor. Some call it “pressing the trade” as it moves in my favor. Some just call it “adding” to their winning position. So even say scaling up. Terminology doesn’t matter. What matters is the concept, I was long and adding more longs on pB ..etc as price moved in my favor. AT all times I was in profit NEVER DOWN. I COULD HAVE SOLD any time, any point, and made money.
Hope that explains it but me thinks you don’t need the explanation. Sorry about the mis labeling. This should clear it up. You don’t need it but others may so here is the explanation. Just scrap the erroneous labeling. Conserve the good labeling and the profit..ok..
... Just scrap the erroneous labeling. Conserve the good labeling and the profit..ok..
Then we have a gentlemen's agreement. You do better on your chart labeling and explanations, and I'll do better on my entries so I do not get tempted to average a loser. *hand shake*.
K, now...Where's the booze?
I actually suspected it would be or morph into a SPBL trend (small pull back bull trend) on that 9:50 big bull bar. So I started going long after getting out of my short. By the 10:50 bar it was pretty sure gonna be SPBL TREND DAY. Then that 3 bull bars starting at 10:50. That confirmed it for me. But by then I was already long 10 contracts and then subsequently added two more before exiting the entire position. So.. move from 9:50 to10:50 overlapping ....staying above ema for most part.
Last edited:
Sounds good to me. It was my bad. I could use 2 or 3 good ice cold Stella Artois. If you were here I’d treat.
ok, trying to understand your possible thought process:
1) the 9:50 big bull bar strongly implied RV to uptrend bc bar was so strong
2) but that bar overcame a strong, large bear channel, meaning that price had to expend a LOT of energy to clear the bear channel -- price really needs a breather
3) Trend up, but so much energy expended to vanquish the bear channel that one can rule out strong bull trend for rest of day, and the first part of the morning already gone, so what does that leave ? A: SPBL TREND DAY, or TRADING RANGE DAY
Stella mmmmm
I just use a laptop. I do often have 1, 5, 15, 30 minute charts open simultaneously but almost all trading is done on the 5 min but may occasionally pinpoint entry on the 1 minute.
What I'm trying to understand is that when you're trading via your laptop (one screen) and you have the 1, 5, 15, 30 min charts open at the same time along with your broker trade execution platform...
Do you then maximize that 5min chart to full screen (to see the playing field better) and then minimize it back to its normal configuration with the other windows on your laptop to place your trade ?
wrbtrader