Techniques for Day Trading the ES, NQ, YM, MES, MNQ, and MYM
- Thread starter volpri
- Start date
I use limit orders exclusively, but my trade manager is coded to place the order +/- 1 tick from current price to allow a little wiggle room.
Here is a screenshot of the video above that somehow didn't record the sound so you won't here my comments on that video. I will give a brief explanation of the 3 trades. I only had time today for these three trades.
First Trade. A long trade. Entry in green at 5479. Exit orange 5481. This was a 2 point scalp. Sine this is the ES that is $100.00 in monetary terms. Notice I went long in the middle of the range. If you look to the left following the middle range line you see there were several points of support. The market at my entry point had 5 legs in this range. Look to extreme left of the chart. First a little leg down, then a leg up to the top, followed by a leg down to the middle line, then a leg back up to top of the TR. Then a 5 bar bear leg (micro channel) back down to the middle. It had support at this middle line so I reasoned I would see enough bounce to get a small scalp up towards the top of the TR. I did have to go through a little DD 3 bars after my entry on that doji that broke thru the support but promptly closed above the middle line. On the next bar I exited grabbing 2 points. If conditions are right I will take trades in the middle area of TRs if the opportunity presents itself. But most of my TR trades and fading the top and the bottom of the ranges.
Second Trade. It was fading the top of the range. I shorted at 5487 1C (red) and covered 2 bars later at 5485.25 (blue) for 1.75 points for $87.50 in monetary terms. This trade was just fading the top of the TR. A quick scalp.
Third Trade. Again fading the top of the TR but averaging down. My first entry was 5487.75 (red) and my exit on that entry was 5485.75 (blue) for 2 points. $100.00 in monetary terms. I had a second entry at (averaging down) at 5490.50 (red) and the exit was 5487.25 (blue) for 3.25 points or 162.50 in monetary terms.
So these 3 trades rendered 9 points in the ES or $450.00 in terms of money. These were taken a 1m char between 9:42 and 10:35. So, around an hour of trading and watching markets using small size in the ES. Many many more trades in the session but I had other things to do.
I did get my volume back up a few minutes ago so maybe I can post another video tomorrow. Sorry about the video having no volume as I made a lot of verbal comments in the video.
First Trade. A long trade. Entry in green at 5479. Exit orange 5481. This was a 2 point scalp. Sine this is the ES that is $100.00 in monetary terms. Notice I went long in the middle of the range. If you look to the left following the middle range line you see there were several points of support. The market at my entry point had 5 legs in this range. Look to extreme left of the chart. First a little leg down, then a leg up to the top, followed by a leg down to the middle line, then a leg back up to top of the TR. Then a 5 bar bear leg (micro channel) back down to the middle. It had support at this middle line so I reasoned I would see enough bounce to get a small scalp up towards the top of the TR. I did have to go through a little DD 3 bars after my entry on that doji that broke thru the support but promptly closed above the middle line. On the next bar I exited grabbing 2 points. If conditions are right I will take trades in the middle area of TRs if the opportunity presents itself. But most of my TR trades and fading the top and the bottom of the ranges.
Second Trade. It was fading the top of the range. I shorted at 5487 1C (red) and covered 2 bars later at 5485.25 (blue) for 1.75 points for $87.50 in monetary terms. This trade was just fading the top of the TR. A quick scalp.
Third Trade. Again fading the top of the TR but averaging down. My first entry was 5487.75 (red) and my exit on that entry was 5485.75 (blue) for 2 points. $100.00 in monetary terms. I had a second entry at (averaging down) at 5490.50 (red) and the exit was 5487.25 (blue) for 3.25 points or 162.50 in monetary terms.
So these 3 trades rendered 9 points in the ES or $450.00 in terms of money. These were taken a 1m char between 9:42 and 10:35. So, around an hour of trading and watching markets using small size in the ES. Many many more trades in the session but I had other things to do.
I did get my volume back up a few minutes ago so maybe I can post another video tomorrow. Sorry about the video having no volume as I made a lot of verbal comments in the video.
Dest is too kind.
I'll give you 10:1 odds that you'll be negative over the next 1,000 lots of MES you trade. Wanna bet?
Here are some scalps taken today. On the video I showed capturing 19.5 points for this sessions trades. That was $975.00 not $1000.00.
The trades took place in about 1.5 hours time span.
It is not necessary to trade large positions to make money scalping. The instrument one uses and the strategies and techniques one uses, along with their account size and tolerance for risk can vary greatly. But money can be made trading small size. These trades were small size.
These were scalps on a 1m chart which is difficult to do as it requires quick decisions. But to be able to show the larger context and keep the videos a reasonable length I took the trades on a 1m chart. I have to trade the context on whichever time frame I am trading. Trading would have been different on a 5m chart.
I am attaching the video for these trades. Unfortunately, my laptop needed me to clear up some space and save the video showing the first 3 trades. I meant to pause the video but accidently ended it then couldn't save it. So, I just typed out the 3 trades. I then started the video over again after clearing up some space on my laptop. So, at least you will see the last two trades on video as they happen.
Scalping 1 to 8 points on 1m charts requires concentration and quick decisions. That is hard to do unless one has a lot of experience scalping. You will see that initial R:R is upside down but often the actual risk was not to be. I consider the actual risks as what the market went against my position plus 1 tick before it went in my favor.
I also showing a final screen shot of the all the trades. I am done posting videos for the day. I have other things to do. I am again just showing how I scalp. I am not telling anyone to scalp this way. Have a good day. These are techniques I use but they will not suit everyone and certainly require a lot of screen time and practice to learn them. A trader has to trade in ways that suit their personality and in ways they don't have to be stressed out. Trading has to be a challenge and at the same time enjoyable. I have losing trades like everyone else. But I do try to maintain a high win rate and end the session profitable.
These 5 trades were small position size trades in the ES.
In future video I may go between trading MES and trading ES. I may not post anymore this week as I have company coming from out of town. We will see if I have time for posting any later this week.
The trades took place in about 1.5 hours time span.
It is not necessary to trade large positions to make money scalping. The instrument one uses and the strategies and techniques one uses, along with their account size and tolerance for risk can vary greatly. But money can be made trading small size. These trades were small size.
These were scalps on a 1m chart which is difficult to do as it requires quick decisions. But to be able to show the larger context and keep the videos a reasonable length I took the trades on a 1m chart. I have to trade the context on whichever time frame I am trading. Trading would have been different on a 5m chart.
I am attaching the video for these trades. Unfortunately, my laptop needed me to clear up some space and save the video showing the first 3 trades. I meant to pause the video but accidently ended it then couldn't save it. So, I just typed out the 3 trades. I then started the video over again after clearing up some space on my laptop. So, at least you will see the last two trades on video as they happen.
Scalping 1 to 8 points on 1m charts requires concentration and quick decisions. That is hard to do unless one has a lot of experience scalping. You will see that initial R:R is upside down but often the actual risk was not to be. I consider the actual risks as what the market went against my position plus 1 tick before it went in my favor.
I also showing a final screen shot of the all the trades. I am done posting videos for the day. I have other things to do. I am again just showing how I scalp. I am not telling anyone to scalp this way. Have a good day. These are techniques I use but they will not suit everyone and certainly require a lot of screen time and practice to learn them. A trader has to trade in ways that suit their personality and in ways they don't have to be stressed out. Trading has to be a challenge and at the same time enjoyable. I have losing trades like everyone else. But I do try to maintain a high win rate and end the session profitable.
These 5 trades were small position size trades in the ES.
In future video I may go between trading MES and trading ES. I may not post anymore this week as I have company coming from out of town. We will see if I have time for posting any later this week.
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No, I'm not interested. You and Dest can bet between yourselves. I am just showing how I like to scalp. If you don't like it there are plenty of other threads you can look at. A few thousand threads on ET.
I am still learning how to video tape trading..make annotations on the chart...pause and start again...save it...publish it on you tube...etc. I am not a spring chicken so it takes me awhile to learn these things and not make mistakes in the process. Plus I am a diabetic and there are days my brain just is not working clearly. So, you guys will have to bear with me when I make mistakes in the process.
I have visitors just got here a few moments ago so I cannot trade anymore today nor have the time right now explain these trades. But I took these two averaged down trades. Profit was pretty good. I am posting the snapshot and will explain later after the visitors leave.
I thought I had videotaped the entire thing but was mistaken. Hence the screen shot. I am still learning how video tape. Just bear with me. I will eventually get videotaping down. These trades captured 29.75 points in the ES.
I thought I had videotaped the entire thing but was mistaken. Hence the screen shot. I am still learning how video tape. Just bear with me. I will eventually get videotaping down. These trades captured 29.75 points in the ES.