LOL. Not a problem.
Techniques for Day Trading the ES, NQ, YM, MES, MNQ, and MYM
- Thread starter volpri
- Start date
Yep, taildragger. Slow, but fun.
I do hope they are useful. Thanks.
Today 7-9-2021 seems to be shaping up to be a SPBL trend day (small pullback bull trend day) If so it will grind north. And be excellent opportunities for a scalper to buy on PB’s then exit on surges north then repeat over and over. Or go long..hold…and just add to it on PB until price has a significant reversal to then exit on locking in profits.
While these are grinding days with not so big bars and seem to just creep up they are actually very strong trends. Bullish institutions just keep buying and bears have a hard time pushing price below the 20 ema.
While these are grinding days with not so big bars and seem to just creep up they are actually very strong trends. Bullish institutions just keep buying and bears have a hard time pushing price below the 20 ema.
Yes -never thought of reversing at a certain point in a trade. Takes nerve and some experience. Will test this going forward maybe.
Here is a trade I just took this morning. First screen shows my entry long averaged down. Second screen shows my exit. Will we explain in a few minutes. Breakfast is ready.
ok breakfast is done and I can still edit this post so I will add an explanation.
Thinking the day is evolving into a SPBL trend day this is to be traded different than a range. Different tactics are used. It is a relentless trend albeit often with just a slight bull slope. It is not usually practical for counter trend trading, especially if averaging down. There are a two or three ways I use to trade this type of PA.
1) Go long on PB towards the 20 ema. Exit on surges north with a scalpers profit of 1 to 8 points. Keep stoploss below the previous swing low. I repeat over and over as long as the SPBL lasts.
2) Go long on PB’s toward the 20 EMA AND average down building a larger position as price is moving against me and towards the EMA. The reason I want to get in right away on the PB, as it starts, is too at least have SOME position on as often the PB will be small and just take RIGHT back off north. Thus if I wait for a larger PB to go long on I may miss out on an otherwise good trade, should no deeper PB occur followed by resumption of the trend, materializes. Again once price surges north I take my profits any time after my first entry is in the money. I will make good money on my averaged to entries and decent on my initial long entry. If the surge looks fairly strong i can hold the position for more profit and exit on a subsequent PB. I just have to watch the dynamic of the surge to make that decision ..hold…or exit after first entry is in the money.
3) A third way is to go long on a PB and hold as long as the trend is grinding up and no reversal takes place. In such a case I just hold and scale up on subsequent PB’s, adding to the position, as price moves in my favor. I continue this until the session ends or a strong reversal occurs.
In general SL is below last swing low for all three scenarios and can be moved up as the swing lows get higher.
Now remember you can have SPBR (small pullback bear trend) days and the process is the same just reversed.
Some traders, even some scalpers hate these sort of days as the PA seems boring and like watching paint dry. But in actuality this sort of price action should be a scalpers dream. Very little risks and multiple opportunities for profit in a slow moving market that shows little volatility. Volatility, while it can be profitable, it can also be a double edged sword cutting both ways! I really like SPBL and SPBR trend days and they usually happen probably on average at least once a week.
ok breakfast is done and I can still edit this post so I will add an explanation.
Thinking the day is evolving into a SPBL trend day this is to be traded different than a range. Different tactics are used. It is a relentless trend albeit often with just a slight bull slope. It is not usually practical for counter trend trading, especially if averaging down. There are a two or three ways I use to trade this type of PA.
1) Go long on PB towards the 20 ema. Exit on surges north with a scalpers profit of 1 to 8 points. Keep stoploss below the previous swing low. I repeat over and over as long as the SPBL lasts.
2) Go long on PB’s toward the 20 EMA AND average down building a larger position as price is moving against me and towards the EMA. The reason I want to get in right away on the PB, as it starts, is too at least have SOME position on as often the PB will be small and just take RIGHT back off north. Thus if I wait for a larger PB to go long on I may miss out on an otherwise good trade, should no deeper PB occur followed by resumption of the trend, materializes. Again once price surges north I take my profits any time after my first entry is in the money. I will make good money on my averaged to entries and decent on my initial long entry. If the surge looks fairly strong i can hold the position for more profit and exit on a subsequent PB. I just have to watch the dynamic of the surge to make that decision ..hold…or exit after first entry is in the money.
3) A third way is to go long on a PB and hold as long as the trend is grinding up and no reversal takes place. In such a case I just hold and scale up on subsequent PB’s, adding to the position, as price moves in my favor. I continue this until the session ends or a strong reversal occurs.
In general SL is below last swing low for all three scenarios and can be moved up as the swing lows get higher.
Now remember you can have SPBR (small pullback bear trend) days and the process is the same just reversed.
Some traders, even some scalpers hate these sort of days as the PA seems boring and like watching paint dry. But in actuality this sort of price action should be a scalpers dream. Very little risks and multiple opportunities for profit in a slow moving market that shows little volatility. Volatility, while it can be profitable, it can also be a double edged sword cutting both ways! I really like SPBL and SPBR trend days and they usually happen probably on average at least once a week.
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Here are a look at the first two trades of the day. One was a winner and one a loser. The winner was an averaged to down trade long. I have already shown that trade in my post 1178 above. It is trade #1 shown below.
The second trade was a loser but by MISTAKE! ROFLMAO. It should not have been a loser. What was the mistake? I, just by habit, when I place an order I bracket it by 3 points on either side then immediately adjust the PT and the SL according to the PA to the left. However in this case I was busy trying to type my posts here on ET and make entries. After my entry on trade #2 I forgot to slide my SL down to an appropriate PA SL. As I was typing boom my SL got hit thus resulting in the loss. I would have been averaging down on the PB not getting stopped out. Anyway that is my story and I am sticking to it!
PS I promptly got back my loss on the next trade i.e. trade#3. I will show it on my next posts.
The second trade was a loser but by MISTAKE! ROFLMAO. It should not have been a loser. What was the mistake? I, just by habit, when I place an order I bracket it by 3 points on either side then immediately adjust the PT and the SL according to the PA to the left. However in this case I was busy trying to type my posts here on ET and make entries. After my entry on trade #2 I forgot to slide my SL down to an appropriate PA SL. As I was typing boom my SL got hit thus resulting in the loss. I would have been averaging down on the PB not getting stopped out. Anyway that is my story and I am sticking to it!
PS I promptly got back my loss on the next trade i.e. trade#3. I will show it on my next posts.
Trade #3 Doubled up. Got back my loss from my mistake in trade #2 and made some more on top of that. Doubling up gets my loss back quickly. It was a 5.75 point profit and doubled up from the get go with no averaging down. It effectively got back my loss quickly and made meca decent profit. These SPBL trend days make it relatively easy to get back a loss. This loss should never have happened. LOL…. it may be hard to see but blow the chart up and you can see the green entry after taking then loss on the previous trade.
