The Price Action Journal
- Thread starter SusanaDT
- Start date
- Status
No easy answer, couple of days, weeks if necessary.
I use an anchor chart of 100k ES to be aware of all important areas, like 1290s right here.
Anyway this aint my thread, have no desire or intentions of taking over, just wanted to contribute a bit to get the ball rolling.
Passing the ball to another trader....
Anek
Thank you Anek for the charts, always appreciative of your sharing.
I see you are trading a modified version of your original AHG and in all honesty it looks pretty fantastic.
After taking my paper trading to consistency it is now my turn to go cash although I will start using only 200 shares of SPY as I also benefit from incorporating scaling in and scaling out but doing it in ES would be the kind of leverage I'm not prepared to take. I believe 500 Spy = 1 ES and since I cannot split 1 ES doing the e-mini would be a minimum of 2 ES and that's just too much for my sanity so as you kindly suggested will do the SPY. Considering using Ninja and IB but still undecided. I mentioned on another thread that I find it odd and ironic that I need more capital to trade SPY than ES, due to the pattern trader rule, yet I cannot trade ES due to overleverage, can't get over that concept yet.
I feel quite confident moving forward to cash and well just wanted to extend my most sincere appreciation for making a remarkable difference in my trading. Time to face the cash demon!
Daniel
I see you are trading a modified version of your original AHG and in all honesty it looks pretty fantastic.
After taking my paper trading to consistency it is now my turn to go cash although I will start using only 200 shares of SPY as I also benefit from incorporating scaling in and scaling out but doing it in ES would be the kind of leverage I'm not prepared to take. I believe 500 Spy = 1 ES and since I cannot split 1 ES doing the e-mini would be a minimum of 2 ES and that's just too much for my sanity so as you kindly suggested will do the SPY. Considering using Ninja and IB but still undecided. I mentioned on another thread that I find it odd and ironic that I need more capital to trade SPY than ES, due to the pattern trader rule, yet I cannot trade ES due to overleverage, can't get over that concept yet.
I feel quite confident moving forward to cash and well just wanted to extend my most sincere appreciation for making a remarkable difference in my trading. Time to face the cash demon!
Daniel
Anek,
As far as I know this thread was designed by Susana for people that trade using a price action method to share ideas. You are contributing, no need to perceive it as taking over. I just have one more question, do you enter your trades with market, limit, or stop orders?
Thanks,
Floyd
As far as I know this thread was designed by Susana for people that trade using a price action method to share ideas. You are contributing, no need to perceive it as taking over. I just have one more question, do you enter your trades with market, limit, or stop orders?
Thanks,
Floyd
D, take a look at ES futures options.
1. spread not bad these days, in busy hours it almost like underline ES in some strikes;
2. you can control leverage by selecting delta levels, 0.5 delta is like half a ES futs;
3. no pattern daytrader rule;
4. low commissions, IB charges $1.76 each;
5. tax like futures;
6. low margin, $2000 gets you started;
...
Options are not for everyone, just a thought, do your home work and decide.
wish you best luck going live.
1. spread not bad these days, in busy hours it almost like underline ES in some strikes;
2. you can control leverage by selecting delta levels, 0.5 delta is like half a ES futs;
3. no pattern daytrader rule;
4. low commissions, IB charges $1.76 each;
5. tax like futures;
6. low margin, $2000 gets you started;
...
Options are not for everyone, just a thought, do your home work and decide.
wish you best luck going live.
1-longer term 100k volume chart
2-trading frame 10k volume chart
3-entry and risk control 1' to 5 seconds with volume and stop-fishing "hawkeye" volume divergences.
4-lots of screen time.
5-Scale out risk exit strategy+"runners" strategy.
...
6-Vertical volume fade/confirm histogram?.aka market profile.
7-A good "pair"?
8-DOM bid/ask imbalance?
9-Anything else?
Thanks for sharing.
Great Thread. I've been working on learning price action for a year now. I'm trading from 777 tick charts, and finding my S/R areas on a 1500 tick chart. I looked at the volume charts and find them interesting as well, so I might start watching those to see if they help with the turns any. I'm also using a 3 bar entry technique as well, trading two contracts.
I am experimenting with scaling out, by attempting to scalp 4 ticks on my first contract, then allowing the second one to run. On chop days, the scalp technique works well, but you miss some of the runs on the break out days, so I think it would be best to scalp on some days, but try and catch the trends on the trending days.
Thanks for the charts and please post more, as they are very beneficial for learing how others are succeeding with this technique. I'll try and post some of my future charts as well.
I am experimenting with scaling out, by attempting to scalp 4 ticks on my first contract, then allowing the second one to run. On chop days, the scalp technique works well, but you miss some of the runs on the break out days, so I think it would be best to scalp on some days, but try and catch the trends on the trending days.
Thanks for the charts and please post more, as they are very beneficial for learing how others are succeeding with this technique. I'll try and post some of my future charts as well.
rsikit,
Good ?. I extend important S/R lines from prior days and I draw lines all day long. As a matter of fact, my chart looks like a child got a hold of it w/ an "etch a sketch" by the end of the day. For illustration purposes I just show lines that confirm a trade setup.
Ty
FYI- Fundamentally, I'm an AHG follower. Was a consistent loser until that thread. KISS and anyone can trade.
Good ?. I extend important S/R lines from prior days and I draw lines all day long. As a matter of fact, my chart looks like a child got a hold of it w/ an "etch a sketch" by the end of the day. For illustration purposes I just show lines that confirm a trade setup.
Ty
FYI- Fundamentally, I'm an AHG follower. Was a consistent loser until that thread. KISS and anyone can trade.
- Status