Trading e-minis with $1k starting capital

Quote from austinp:

[BNQ and YM are the easiest of eminis, if "easy" is a term that applies anywhere in trading at all. Clearest or most forgiving are apt terms of description [/B]
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Austinp...so, you trade the NQ solely?...this would be quite encouraging if you did...thanks for letting us know...
 
Quote from rcn10ec:

[b

f9,
I know you like the ES so using it as an example, in your opinion, what timeframes are most helpful in finding the battlegrounds, or would using range or tic charts be helpful in finding them? Also, do you look for big volume in general or do you look at the size, rate, or number of block trades?
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RC,

Time doesnt really enter into the equation other than open, 10am, lunch etc.

It is what is happening at price levels that captivates me.
I prefer to organise my orderflow via range charts, others pref tic, volume etc.
I am interested at the level that strikes >99 occur and where the price turns with no strikes >99.
Double tops, double bottoms are very powerful.
You must remember with ES that by the time you see something happen, it has already passed on and so you need to be positioned ahead of it.

Most important is risk. Only take a position at a level where the two most likely outcomes are that the trade goes in your direction or it wobles, in which case grab a tic or two if you can and exit.

If you get sucked into a black hole even with an MO cover stop you will be dog tucker.
ES is a dangerous beast until you understand it but it can absorb some serious volume.

Make quick notes of high clusters of volume at price levels and later on at night, go back over these clusters and try to see what the big boys or the machines were looking for.

regards
f9
 
quote by fearless9

Time doesnt really enter into the equation other than open, 10am, lunch etc.

f9,

Yeah, that's why I ask about range charts. I've been experimenting with range charts (and Renko charts some) just for the purpose of getting a truer sense of price movement and the volume at that price. I may be wrong but I think since price is what we buy and sell it doesn't matter how long...or not... it takes it to get there. p.s. Many thanks for all the other info in the post f9. rc
 
Quote from IndexScalper:

I decided to take a break for a few days to fine tune my strategy.
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Is it your strategy that is the problem, or is it your execution of that strategy? Don't confuse the two.

There is a saying in Bowling: "Don't adjust off a bad shot". That means when you have a strike line that has been working, and then you throw a bad shot, missing your target on the lane, don't move your feet or change your target for the next shot. Just go back to the line that was working and concentrate on hitting your mark.

Paper trading is fine, adding funds is fine (with the caveats others have given). Just make sure you are fixing the things that are broken and not the ones that aren't.
 
Quote from SicilianTM:

Is it your strategy that is the problem, or is it your execution of that strategy? Don't confuse the two.

There is a saying in Bowling: "Don't adjust off a bad shot". That means when you have a strike line that has been working, and then you throw a bad shot, missing your target on the lane, don't move your feet or change your target for the next shot. Just go back to the line that was working and concentrate on hitting your mark.

Paper trading is fine, adding funds is fine (with the caveats others have given). Just make sure you are fixing the things that are broken and not the ones that aren't.
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Good point Sicilian. It's the execution that needs fine tuning, the strategy is fine.
 
Quote from austinp:

<i>"AustinP -- what are your thoughts on intraday YM v NQ? (or ES for that matter)?"</i>

YM is fine from what I see, haven't traded it in years myself. I do see where it breaks directionally a bit better than ES, both track closely unless Dow and Comp are divergent intraday.

In today's case, ES and ER both opened somewhat flat and dropped lower while NQ pretty much held its daily pivot and other supports. The other symbols reversed off lows where one would expect them to, while NQ just lifted straight from support.

Less guesswork, fewer reversals in NQ than other eminis. The 250 tick chart for NQ paints about same number of bars (straighter) as 500 tick chart in ES. What does that tell us? ES has twice as many price changes while price movement stays sideways.

NQ and YM are the easiest of eminis, if "easy" is a term that applies anywhere in trading at all. Clearest or most forgiving are apt terms of description
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Which instrument is "easy" or "difficulty" really depends on the trading strategy.

For a break trader, back and fill is a nightmare since his/her entry is usually not that good. For a turn trader, back and fill is not that bad. It gives you more trading opportunites.

I used to trade ER2, ES, then switched to NQ. Most recentlyI switched to trade NQ and ES simultaneously. I find them complement each other to some extent and my trading performance has since improved.
 
Thanks again to IndexS for hanging his shorts in the wind and starting a thread that has turned out to be very insightful and helpful

So I'll take my turn and and throw my reasoning/observations on everyones sword --- because the feedback is always useful


so fractals:

premise: price action is fractal

My interpretation: for a particular entry signal -- I should be able to see the signal on any timeframe (if it is a valid signal) -- ie
144 tick
233 tick
1 minute
5 minute

question 1: is this reasoning sound (ie either the signal is valid or price action is not truly fractal)
--- 'or' -- Im clueless enough to lose 200 bucks a day and never know why :-)

signal:
long entry on a reversal: current bar low is lower than prior bar low, but current bar close is higher than prior bar close

short entry (or previous long trade exit) -- current bar high is higher than prior bar high, but current bar close is lower than prior bar close

charts: (this is the YM circa 10am today by the way)
144 tick
133 tick
1 minute
5 minute
 

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