Techniques for Day Trading the ES, NQ, YM, MES, MNQ, and MYM

[volpri]

I did take another trade but then had to leave to install a hitch on the motorhome but left the exit PT order and when I just got back minutes before the market closed I saw it had executed.

I made at least 2 mistakes today I wish to highlight. I ended up making $$$ but it was pitiful. Should have made 2 or three times the amount. That is one good thing about scalping. I can bounce right back. Investors cannot sleep well at night...maybe...I don't know...I no longer invest. I simply day trade and scalp at that. I am flat by close win..lose or BE. Will post the charts tonight.

 

[Datum]

It's nice to see someone post so many charts with explanation. Keep it up!

 

[wrbtrader]

volpri,

You often make statements like bull or sell pressures, algos and mentioning of the DOM in this thread.

Yet, you show no DOM with your charts as examples of those statements especially while you're giving the impression you're placing your trades via the DOM. Further, you put more emphasis on the DOM via your statements that you're scalping. Oddly, you'll go do personal activities and leave with a position open (unattended).

In addition, you're using 5min chart intervals to explain scalping technique / analysis. That's very odd considering scalpers trade via timeframes like 1min, seconds or tick charts although most scalpers do not use charts at all...they exclusively use data info in the DOM to make their analysis and then make their trade executions thru the DOM.

Also, I think I've only seen a few threads here at ET by scalpers that posted screenshots of their DOM to explain their trades via scalping.

I did take another trade but then had to leave to install a hitch on the motor home but left the exit PT order and when I just got back minutes before the market closed I saw it had executed.

I made at least 2 mistakes today I wish to highlight. I ended up making $$$ but it was pitiful. Should have made 2 or three times the amount. That is one good thing about scalping. I can bounce right back. Investors cannot sleep well at night...maybe...I don't know...I no longer invest. I simply day trade and scalp at that. I am flat by close win..lose or BE. Will post the charts tonight.

I've met many traders that are scalpers and I've personally seen scalpers in action with my own two eyes. Strangely, you're the first scalper I've seen that leaves an open scalp position via walking away to do personal things considering a true scalper looks for ticks as profits and place 20 - 100 scalp trades in a trading day.

In addition, scalpers get special commission rates to offset the cost of trading that even a typical daytrader at the same broker can not get.

Sorry, I just don't get it via what you're doing in this thread because you're just daytrading...not scalping.

Last of all, I understand you only want this to be an education thread but why do you then make statements like the following...

I MAKE MONEY AND MAINTAIN HIGH WIN RATE!

and then not show any verification of such ???

It seems to me you should not talk about your trade performance if you want to keep it exclusively educational...nothing wrong with that.

wrbtrader

 

[Seaweed]

In addition, you're using 5min chart intervals to explain scalping technique / analysis. That's very odd considering scalpers trade via timeframes like 1min, seconds or tick charts although most scalpers do not use charts at all...they exclusively use data info in the DOM to make their analysis and then make their trade executions thru the DOM.

You know, I think I kind of really get what he is doing. On the smaller time frame, it doesn't matter so much because he isn't trying to perfect the entry. If all he sees is 5 minute bars and sees the selling pressure, he just starts selling, perhaps for the test of the low, or even a lower low. In this respect, it just doesn't matter where he gets in, so no point in looking at a tick chart. If it retraces higher than he thought, he just sells more, which in a way, almost leads to bigger profits when it finally goes in his direction.

Now of course he could be totally wrong and it goes completely against him, but I see that he has very specific rules about why he feels the trend will continue and I think its much more robust than any other yahoo on here who thinks he just averages in on every single trade that goes against him.

Obsessing over that perfect entry really isn't nearly as important as getting the direction right. If you get the direction right, then the perfect entry doesn't matter, and scaling in techniques help to mitigate any entry that isn't 100% ideal.

 

[wrbtrader]

You know, I think I kind of really get what he is doing. On the smaller time frame, it doesn't matter so much because he isn't trying to perfect the entry. If all he sees is 5 minute bars and sees the selling pressure, he just starts selling, perhaps for the test of the low, or even a lower low. In this respect, it just doesn't matter where he gets in, so no point in looking at a tick chart. If it retraces higher than he thought, he just sells more, which in a way, almost leads to bigger profits when it finally goes in his direction.

Now of course he could be totally wrong and it goes completely against him, but I see that he has very specific rules about why he feels the trend will continue and I think its much more robust than any other yahoo on here who thinks he just averages in on every single trade that goes against him.

Obsessing over that perfect entry really isn't nearly as important as getting the direction right. If you get the direction right, then the perfect entry doesn't matter, and scaling in techniques help to mitigate any entry that isn't 100% ideal.

Seaweed...if I ignore the scalping & DOM commentary and only view the charts because there's no screenshots of a DOM at the time of his analysis in this thread. It then makes sense including the scaling into his trade positions.

wrbtrader

 

[Seaweed]

Seaweed...if I ignore the scalping & DOM commentary and only view the charts because there's no screenshots of a DOM at the time of his analysis in this thread. It then makes sense including the scaling into his trade positions.

wrbtrader

Agree. I just like looking at his charts.

Speaking of which, I'm waiting to see those trades from yesterday where he said he blew it big!

 

[schizo]

Study the range tactic. It is only one. See how it is done.

How did you know when to start the count (eg. from 1st bar to 16th bar) and, more importantly, what made you believe 16th bar is the start of the range? In hindsight, it's easy to see that the range formed after the 16th bar (the low of the range) to the 1st bar (high of the range). But how were you able to know this beforehand? No doubt you're a genius, but only in hindsight I would know that you are.

 

[digitalnomad]

If anyone following this journal hasn’t realized by now that it’s a hoax, then you have very much left to learn about trading. No one on gods earth generates alpha like this. I don’t mean this as a personal insult to @volpri, but just seeing it for what it is, based on my experience.

 

[volpri]

volpri,

You often make statements like bull or sell pressures, algos and mentioning of the DOM in this thread.

Yet, you show no DOM with your charts as examples of those statements especially while you're giving the impression you're placing your trades via the DOM. Further, you put more emphasis on the DOM via your statements that you're scalping. Oddly, you'll go do personal activities and leave with a position open (unattended).

In addition, you're using 5min chart intervals to explain scalping technique / analysis. That's very odd considering scalpers trade via timeframes like 1min, seconds or tick charts although most scalpers do not use charts at all...they exclusively use data info in the DOM to make their analysis and then make their trade executions thru the DOM.

Also, I think I've only seen a few threads here at ET by scalpers that posted screenshots of their DOM to explain their trades via scalping.



I've met many traders that are scalpers and I've personally seen scalpers in action with my own two eyes. Strangely, you're the first scalper I've seen that leaves an open scalp position via walking away to do personal things considering a true scalper looks for ticks as profits and place 20 - 100 scalp trades in a trading day.

In addition, scalpers get special commission rates to offset the cost of trading that even a typical daytrader at the same broker can not get.

Sorry, I just don't get it via what you're doing in this thread because you're just daytrading...not scalping.

Last of all, I understand you only want this to be an education thread but why do you then make statements like the following...



and then not show any verification of such ???

It seems to me you should not talk about your trade performance if you want to keep it exclusively educational...nothing wrong with that.

wrbtrader

volpri,

You often make statements like bull or sell pressures, algos and mentioning of the DOM in this thread.

Yet, you show no DOM with your charts as examples of those statements especially while you're giving the impression you're placing your trades via the DOM. Further, you put more emphasis on the DOM via your statements that you're scalping. Oddly, you'll go do personal activities and leave with a position open (unattended).

In addition, you're using 5min chart intervals to explain scalping technique / analysis. That's very odd considering scalpers trade via timeframes like 1min, seconds or tick charts although most scalpers do not use charts at all...they exclusively use data info in the DOM to make their analysis and then make their trade executions thru the DOM.

Also, I think I've only seen a few threads here at ET by scalpers that posted screenshots of their DOM to explain their trades via scalping.



I've met many traders that are scalpers and I've personally seen scalpers in action with my own two eyes. Strangely, you're the first scalper I've seen that leaves an open scalp position via walking away to do personal things considering a true scalper looks for ticks as profits and place 20 - 100 scalp trades in a trading day.

In addition, scalpers get special commission rates to offset the cost of trading that even a typical daytrader at the same broker can not get.

Sorry, I just don't get it via what you're doing in this thread because you're just daytrading...not scalping.

Last of all, I understand you only want this to be an education thread but why do you then make statements like the following...



and then not show any verification of such ???

It seems to me you should not talk about your trade performance if you want to keep it exclusively educational...nothing wrong with that.

wrbtrader

Much boils down to one's def of scalping. My definition is 1 to 8 points in the ES. Trading off charts not DOM scalping. More points in YM and NQ. I don't scalp with the DOM. I just place my bracket orders using the DOM. That is all. For me it is just an order placement or order adjustment tool but I don't take trades based on DOM movement.

Yes, it is a mistake as a scalper to walk away. But many traders don't consider what I am doing as scalping. That was actually one of my mistakes I was gonna bring up that I made on Friday. Not because of a loss but because it cut my profit short as I had my SL and PT bracketed. I would have made more if I had been there watching because I would have just slide the DOM PT for more profit. It doesn't matter what folks call what I am doing. They can call it daytrading if they like. It meets my definition of scalping and that is all I care about.

I may scalp for (per my definition) 3, 4, 5, 10, or even 20 trades a day. I usually see 30 to 40 opportunities a day but I just don't take them all.

I don't look to scalp a tick or two.

As far a proofs I guess you can read my first posts. I am showing the trades as my platform marks them and I am showing the trades for the day not just a few of them. I have to show the trades as I took them so folks can see what I am talking about.

I am aware that the ideas and and concepts may seem antique and out of style but I am showing how I trade..in style or out. LOL

 

[volpri]

Agree. I just like looking at his charts.

Speaking of which, I'm waiting to see those trades from yesterday where he said he blew it big!

I didn't blow it big. I ended the day up around $172.50 in MES but because of some mistakes I failed to make more. The opportunity was there for much more. In that sense I made a mistake or two. I will post the charts later on sometime today I hope.