The Day Trading Thread

[MarkBrown]

Day Trading has become very competitive yet it seems I continually am looking at the chart patterns defined mostly by Toby Crabel as well as inside bars, gaps and hooks etc. Know where you're at in the big scheme of things really makes a difference in planning the days strategy and what can be expected.

I typically trade using range bars, but you can get lost in the action if you don't keep an overview. Still these daily patterns are viable even with 24 hour markets. It's mostly about expansion and contraction while keeping in mind overall direction.

ES pic daily below.

 

[volpri]

Price Action 6-4-2019 chart 5 min.

If a trader has a small account here is an example of how to make $155.00 before comm scalping the MES. Depending on a traders RT comm costs he would clear 120.00 to 130.00 in first hour trading.

Context: Open Gap up. In addition price opens above MA's = buying pressure present.

Tactic: can go short or long as market settles in but keep in mind long is where the pressure is. If shorting do not follow too far. Safer going long. Can average in or down to losing position but if shorting get out quickly on any profit. Don't attempt to follow too far unless strong bear BO south.

Position size. Start with 1 contract. Average in on losing position at 1 point loss. Then third and contract fourth at 2 points..5th at around 4 points. Just get profit in wacks of 20 to 60 dollars and get out unless a trader wants to leave a couple runners long.

PS all bars have bears and bulls active.

Disclaimer: This is an example and for educational purposes only. Not trading advice. You can lose money trading futures.

 

[padutrader]

Day Trading has become very competitive yet it seems I continually am looking at the chart patterns defined mostly by Toby Crabel as well as inside bars, gaps and hooks etc. Know where you're at in the big scheme of things really makes a difference in planning the days strategy and what can be expected.

I typically trade using range bars, but you can get lost in the action if you don't keep an overview. Still these daily patterns are viable even with 24 hour markets. It's mostly about expansion and contraction while keeping in mind overall direction.

ES pic daily below.

I thought I had seen everything….what on earth are range bars

 

[padutrader]

all bars have bears and bulls active.

that is good point....not understood by most

 

[padutrader]

You can lose money trading futures.

not if you stay in the present...

 

[SimpleMeLike]

I thought I had seen everything….what on earth are range bars

padutrader,

Range bars monitor tick size. For example, here is a 4 tick range bar chart. Everytime 4 ticks are more in completed (up or down), a bar occurs. The bar movement is based on tick movement and not time base.

Range bars are used to weed out the noise of the time base charts and helps for a clearer chart. The bar alsos shows the OHLC.

Below is the same chart for 5 min chart.

I currently trade the time base charts , but I do experiment with range bars

 

[SimpleMeLike]

Day Trading has become very competitive yet it seems I continually am looking at the chart patterns defined mostly by Toby Crabel as well as inside bars, gaps and hooks etc. Know where you're at in the big scheme of things really makes a difference in planning the days strategy and what can be expected.

I typically trade using range bars, but you can get lost in the action if you don't keep an overview. Still these daily patterns are viable even with 24 hour markets. It's mostly about expansion and contraction while keeping in mind overall direction.

ES pic daily below.

MarkBrown,

Are you an intra-day trader?

Thanks,

 

[qlai]

Position size. Start with 1 contract. Average in on losing position at 1 point loss. Then third and contract fourth at 2 points..5th at around 4 points. Just get profit in wacks of 20 to 60 dollars and get out unless a trader wants to leave a couple runners long.

What, if anything, stops you out?

 

[padutrader]

Day Trading has become very competitive

it is the only activity which the cost of entry is almost nil but the potential of making money is so high, nay, huge

 

[traderslair]

I would like to see income statements of the last 3 years combined with broker statements of the last 3 years before I will believe any post in this thread.