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

@volpri -- How do you know if I am "Obeying your Rule as stated In Post #1252 -- I have formed a habit of violating that rule. But confession is said to be, "Good for The Soul". Thanks ---->
 
ondafringe said:
As I said, I only did it because I was in Sim. I would never, ever Martingale with real money. As far as averaging in goes, I am considering it because I am tired of being nickeled-and-dimed to death with these three point stops, only to see the market turn and go in my direction after getting stopped out.

I think the trick to averaging in is to have your 5m chart drawn up properly where you can see all the potential support/resistance bounce points and then set your average-in prices at, or a little before, those bounce points.
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I hear you. Loud and clear. Those market turns aren't to take out your SL although it seems that way. They are what happens when institutions do price probing. I know this sounds crazy but price cannot move even one tick unless an institution cause it to move that 1 tick or wants it to move that 1 tick. They are not, for the most part stop hunting. They are probing and pushing. Our SL's just get caught in all that probing. Think about it! What is the solution?
 
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MACD said:
@volpri -- How do you know if I am "Obeying your Rule as stated In Post #1252 -- I have formed a habit of violating that rule. But confession is said to be, "Good for The Soul". Thanks ---->
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Well I gave the warning, but I sort of figured you was a rebel anyways, but at least, I have given fair warning. LOL
 
Here is another martingaled trade before the close. This one was done on successful BO of the channel betting that any PB would fail enough at, or before the EMA, and that an averaged down martingaled position, could be successful and render a profit. The successful BO out of the bottom of the channel already had two legs down (yellow arrows).

It was more dangerous as the session close was minutes away and may not give time to get profitable before the close. I usually prefer averaging down to not be in the last hour of the session and again I DON'T recommend martingaling at any time, LOL. But just to show the possibilities.........

See the market is all about:

1) probing
2) possibilities
3) probabilities of the possibilities

SLIDE 8 Martingale MES 8-10-2021 5 min 24 hr.jpg
 
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volpri said:
While I don't recommend martingale I will sometimes do it. One of the ways to implement it is counter - intuitive to that of fading the edges of a channel, or trading range, that I have talked so much about in this journal. Since the durn thing was broached by @ondafridge I will give an example of ONE way to do it in MES.
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Actually, it's ondafringe, not ondafridge.... although I have been known to spend a lot of time hanging around a well-stocked fridge!! lol
 
Spectre2007 said:
what timeframe are you martingale?
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By far most of my trades are done in a 5 minute chart. The trades above are in 5 min TF. That is indicated at the top of the chart. That TF gives me plenty of scalping opportunities during the session.
 
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