Trading e-minis with $1k starting capital

Quote from mgabriel01:

and ,,, if you buy the premise so far -- 2 more questions

the 5 minute chart does not show the entry signal ---
so are we really fractal?
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Some traders look for "confirming factors" (CF) on various interval charts when they get a signal but I never heard CFs referred to as fractals before. Given the different prices/volumes/timeframes I don't see how one may view similar patterns on different period charts as being anything other than a coincidence. So IMO, fwiw, is that they're not fractal.

Has anyone on this thread used chart CFs with past and continuing consistent success? If you mgabriel01 are doing it then I tip my hat to you. Five charts, two of them with lowish count tick charts too! By the time I had checked them all it would have passed me by.

Since we're getting somewhat geometrical note that an anagram of fractal is flat arc. There could be a subliminal message somewhere in there. :-)

ETU
 
Actually I think it indicates how misdirected my thinking is
:-)

thanks


Quote from ETUserisme:

Some traders look for "confirming factors" (CF) on various interval charts when they get a signal but I never heard CFs referred to as fractals before. Given the different prices/volumes/timeframes I don't see how one may view similar patterns on different period charts as being anything other than a coincidence. So IMO, fwiw, is that they're not fractal.

Has anyone on this thread used chart CFs with past and continuing consistent success? If you mgabriel01 are doing it then I tip my hat to you. Five charts, two of them with lowish count tick charts too! By the time I had checked them all it would have passed me by.

Since we're getting somewhat geometrical note that an anagram of fractal is flat arc. There could be a subliminal message somewhere in there. :-)

ETU
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Quote from mgabriel01:



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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Hi MB,

It is all too complicated for my flavour.
I do not think that I am clever enough/ fast enough to capture the moment when it occurrs.

regards
f9
 
Quote from austinp:

<i>"My plan is to papertrade for at least a week to gain confidence in my system."</i>

That's a fine first step. While you are starting fresh, let me repeat myself and strongly, strongly implore you to demo-trade the NQ.

The ES is by far toughest emini to trade. You have to work the hardest for least amount of money relative to other eminis, simply due to its nature. The ONLY feature ES has above all other contracts is size... open interest. That's it, there is no other advantage ES holds.

NQ is slower paced, much more directional when it comes out of consolidation at key points on the chart. You can actually trade it with a -2.5pt initial stop (-$50) seeking +5.0pt profit objectives (+$100) and prevail. The frequent +10pt (or greater) pops are what really drives an account balance higher.

In the ES you are battling big money and automation for small gains... they create the noise by attempting to profit from it. The NQ has much less of those games, it is the lowest hanging fruit on emini tree right now.

Give yourself every edge, every cushion possible to succeed. Trade the most forgiving market, not the least forgiving. If your #1 objective is profits above all else (above the personal challenge, ego, accomplishment, etc) than you need to work where most probable chances for meeting that primary objective exist.
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How do you feel about the YM for beginners?
 
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