Quote from DonKee:
It still amazes me that anyone who trades the ES doesn't use the simplest strategy and the most profitable one I have ever come across.
Fade the PP in the direction of the Nas, XLF, and A/D line.
I shorted right after the open (1284.75) using a stop 2 pts above the PP. I keep exiting a portion every time my key overbought/oversold indicator goes to extremes and continue moving my stops down on the remaining.
At this point, we are extremely oversold and my stop sits above the high of the previous 15 minute bar (1270.25).
It's not a complex strategy and it makes a nice load of money. There are a lot of days where you get chopped up a little or the PP is never hit, but I have other strategies to enter on those type of days.
There's the explanation of the simplest and probably most profitable ES strategy you will ever find (no charge, no blogs, not seeking fame and fortune).
Okay, Becky....can you describe your entry, exit, and money management techniques for us?
Thanks in advance.