Tradeing the ES (On Topic)

Sorry for taking so long, here is a sample chart from Friday, 2-22-2002 (the chart says Feb 02, that is just the month and year.)

We are looking at 1 minute candles, DMI, and volume. The trades I took are indicated by the red and green arrows next to the candles. 4 total over this ~100 minute period.

I am using OMNITRADER to generate these charts. Here is what I did:

Trade #1: LONG, DMI+ divergence confirmed by engulfing candles. Net +3 ticks (x3 contracts) stop at 2 ticks.

Trade #2: SHORT, DMI- divergence confirmed by engulfing candles. Net +2 ticks (x4 contracts) stop at 2 ticks.

Trade #3: LONG, DMI+ CROSSOVER. Net +2 ticks (x5 contracts) stop at 3 ticks.

Trade #4: SHORT, This time the engulfing candle was BEARISH, but the DMI- Crossover contradicted the signal. Net +2 ticks (x2 contracts) stop at 2 ticks.

TOTAL $387.50 - $67.20 comm.

I hope this helps.
 

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I find my best results are when I trade E Mini's

less in scalping mode and more in trying to take a portion of the days range home.

I will admit I usually have trouble with discipline here and tend to try to scalp more than I should.

I also have stopped trading mini NQ's presently

and prefer to scale in using the QQQ's

and QQQ options ...
 
A tick on ES is 12.50 minus 4.80 for roundtrip so you make 7.70 if your right and lose 17.30 if your wrong. 2+/1 against you from the gitgo. Its even worse for the NQ. Playing for ticks is pretty rough row to hoe.
 
Here's an alternative chart for the ES for those not just trying to scalp them for a few ticks at a time.

It's a 5 minute Trade Prospector buy/sell signal chart (you can also see the intraday SRs for today). This chart is geared more for intraday or multiday swing trading. You could no doubt shorten the chart timeframe and adjust the various signal parameters to do that - just not interested in scalping myself.
 

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Hi ArchAngel,
I have TM software but how do you turn on buy sell signal, I check off all of studies I see on your chart but I don't see anything on my chart except macd color band at bottom of my chart, TIA.
 
nkhoi -

You have to be sure to indicate that you want a signal or confirmation for some studies like RSIV and you have to match the parameters on the various studies as well as the signal summarization parameters.

I got the whole setup from TP, it's the one they show in the market update each night. I'm currently playing around with configuring it for the Nasdaq futures too.

Email TP support and they'll send you a copy of the chart layout so you can just load it onto a chart in your workspace.
 
Originally posted by SethArb
I find my best results are when I trade E Mini's

less in scalping mode and more in trying to take a portion of the days range home.

I will admit I usually have trouble with discipline here and tend to try to scalp more than I should.

I also have stopped trading mini NQ's presently

and prefer to scale in using the QQQ's

and QQQ options ...
More...

I'm with you on this one. I went the other way, though -- previously trading the Qs, and moved to NQ. I had a tough time at first, trading NQ, but now I've come to really like them (i.e., am nicely profitable). It helps to occsaionally remind myself: flat is a position.

I think I have the opposite problem -- in not scalping enough. :) I mean, I let the winners run, but sometimes give them too much wiggle room, when instead I could have exited and reentered the trade.
 
neo,

I think the e-mini's are a much better vehicle for newbies, particularly if you're daytrading but also swing trading. The reason is that ther is plenty of liquidity. You can watch the actual market and not worry constantly about how you are going to exit, and of course there is no decision-making as to route to use, ie Island, ARCA, SOES etc. Just hit the sell key or put in a limit. The indexes are much less volatile tna individual stocks. The trouble comes with the greater leverage you can use. The keyis you CAN use, you don't have to. I would say trade with about 1/3 of allowable margin and you are in fairly safe territory, certainly safer than with NVDA. That means $12-15k for a one lot. Don't worry, you can make plenty with that level of leverage. Trade withthe trend. Try to hold each trade as long as possible. Don't scalp and don't trade both sides, ie long and short, the same day. Others may disagree but they are wrong.
 
Ok...

Here is a chart from last Friday...

I have edited out all of the indicators I use, so the chart and price bars will appear broken in some places...

So you know... ALL SIX of these set-ups were good for 1.50 - 2.00 pts MINIMUM profit with NO LOSERS!!!!


100%... not a bad day at all!!! :)

Happy Trading

Dave
 

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Originally posted by AAAintheBeltway
neo,

I think the e-mini's are a much better vehicle for newbies, particularly if you're daytrading but also swing trading. .
More...

AAAintheBeltway

Do you trade the e-mini's? Or have you previously?
Just wanted to know...

:)
 
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