Take some flying lessons, and ask for deep power-off stall training early on. Then you will feel the roller-coasters are kid's play. No problemo.
Techniques for Day Trading the ES, NQ, YM, MES, MNQ, and MYM
- Thread starter volpri
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Take some flying lessons, and ask for deep power-off stall training early on. Then you will feel the roller-coasters are kid's play. No problemo.
A bit of a paradox since you enjoy the fictions of the former guy.
The Seth material is informationally dense, and can be summed up as ‘you create your own reality.’
Not in the fictional, ‘fake it til you make it’ way. More like whatever you focus upon expands.
Someone putting in their 10k hrs of screen time would be a demonstration of that principle in a more mainstream context.
A couple of years ago, you mentioned him, all of his works are short easy enjoyable reads. Thank you for the recommendation.
Great list of concepts. Algo traders might take issue with 2,3.
Save yourself headache, heartache and time - get his video courses. The concepts are simple enough, the main benefit is his repetition and applying the concepts in different contexts. The reflection of his mental process is one of the main benefits although there are critics whom dislike the uncertainty.
Many many years ago I was young. Working at a grocery store. Had an ambition….learn to fly. Took flight training but ran out of $$$ before making it the the “stall stage”. But later I did help pilot a Cessna from Texas to Honduras years and years ago. Engine went dead somewhere over the Caribbean and I was piloting the plane. We got her cranked again. No stalling. I must of blocked the experience out of my mind but my brother assured me that it did happen. He was on the flight with us. The owner had modified the engine to run off regular car gasoline. It was a tail dragger. We would land on grass strips …go to a gas station with gas cans, fill them up, and take them back to the plane.
It was quite a trip. A bit scary when we landed in Belize and the Brits still had soldiers guarding the air strip with anti aircraft guns that spin and follow you as you fly. It was also quite alarming when a Harriet jet flew over us as we were sitting awaiting takeoff (if I remember correctly) then suddenly stopped mid-air a few yards in front of us hovering in the air as if it was gonna blow us to smithereens.
It's not the same thing as being at 8000 feet in a bug smasher, pull way up to go almost vertical, and then kill the engine. You then fall into a harrowing spiral dive, and have to restart the engine and pull out of stall. You experience that, you will never fear roller-coasters again. In fact, you will enjoy them. Trust me on that.
(I am typing this to get your reticence/fear of roller-coasters out of your head. You are missing so much great fun by avoiding them. :-( )
July 10:02 a.m.
Don’t know if you guys are watching and trading this sideways chop in the ES or in Mes. Alot of money can be made fading the edges. It has been sideways since about 5 a.m. Fertile ground for 1 to 5 points over and over again until there is a successful BO of the range. At that point tactics change. Add trading a little size and lots of money can be made.
General rules:
1) The range width or height must be at least 3 times the size of a min scalp (min scalp is 1 point)
2) Average bar 3 time the size of a min scalp (visual glance suffices)
3) Must have 20 bars in sideways motion to start (really aggressive traders can start at 12 to 15
4) I start buying in bottom 1/4 and averaging down as it moves against me or shorting in top 1/4 and averaging in with more.
5) If I get caught in a SUCCESSFUL (key word here is successful as there can be many failed BO attempts) BO south or north especially with an averaged down position I exit immediately double up in size and go in the opposite direction.
Things to keep in mind:
A) Most BO’s attempts of an established range (i.e. 20 bars) fail within 5 bars and price goes back into the range.
B) I am trading this over and over as long as the range last.
C) A successful BO occurs when a bar breaks out of the range and the low of the next bar holds above or below the BO point (depending if a BO south or north). Another thing is give it 5 bars to see if it retraces back into the range. Finally, another sign is of a successful BO is trend resumes after any PB’s.
D) I try to take profits when all averaged down positions are in the money. Even if the first entry is barely in the money by a tick or two.
E) If the dynamics appear that price won’t make it to the first entry being profitable then I will take what I can get even if I lose on my first or second entry and make money on my later entries.
F) Once I see a successful BO I figure there will likely be second leg up or down after any PB so, that is why I double up after exiting with a loss. In roughly half the distance I make back my loss and soon back in the money playing that second leg.
G) I will often add to my doubled up position on PB during the second move up.
Don’t know if you guys are watching and trading this sideways chop in the ES or in Mes. Alot of money can be made fading the edges. It has been sideways since about 5 a.m. Fertile ground for 1 to 5 points over and over again until there is a successful BO of the range. At that point tactics change. Add trading a little size and lots of money can be made.
General rules:
1) The range width or height must be at least 3 times the size of a min scalp (min scalp is 1 point)
2) Average bar 3 time the size of a min scalp (visual glance suffices)
3) Must have 20 bars in sideways motion to start (really aggressive traders can start at 12 to 15
4) I start buying in bottom 1/4 and averaging down as it moves against me or shorting in top 1/4 and averaging in with more.
5) If I get caught in a SUCCESSFUL (key word here is successful as there can be many failed BO attempts) BO south or north especially with an averaged down position I exit immediately double up in size and go in the opposite direction.
Things to keep in mind:
A) Most BO’s attempts of an established range (i.e. 20 bars) fail within 5 bars and price goes back into the range.
B) I am trading this over and over as long as the range last.
C) A successful BO occurs when a bar breaks out of the range and the low of the next bar holds above or below the BO point (depending if a BO south or north). Another thing is give it 5 bars to see if it retraces back into the range. Finally, another sign is of a successful BO is trend resumes after any PB’s.
D) I try to take profits when all averaged down positions are in the money. Even if the first entry is barely in the money by a tick or two.
E) If the dynamics appear that price won’t make it to the first entry being profitable then I will take what I can get even if I lose on my first or second entry and make money on my later entries.
F) Once I see a successful BO I figure there will likely be second leg up or down after any PB so, that is why I double up after exiting with a loss. In roughly half the distance I make back my loss and soon back in the money playing that second leg.
G) I will often add to my doubled up position on PB during the second move up.