Trading Styles for ES

Quote from chinook:

I basically trade NQ but my style would be applicable to ES by diving the numbers into ~2. I have two modes of trading

1) Intraday "trend following" mode. Usually initial risk=3-4 points, target=9-12 pts. I keep track of volume and breadth and estimate if short or long side is preferred to minimize entering into false breakouts/pulldowns in the wrong direction.

2) Fading mode. When the market hits yesterdays/today's HOD/LOD without breadth and volume support then I take the opposite side of the move. Initial risk=4 points, target 15-16 points.

I follow my trades with trailing stops and my trade duration so far ranged from 1 second to 2-3 hours! I broke my shortest trade record yesterday with a 1 second trade--my stop was 1 points which is very rare for my style! My average holding time is about 40 minutes.

I think I'm more like an "investor" compared to most people on the board in terms of trade duration :)
More...

Thanks. I knew my theory on people was right. Thanks for sharing this.
 
Quote from ElectricSavant:

Vision, It's motivated people like you that make this interesting. Thank you for your kind words. I will not go into more detail other then your opening post to start this thread with, caught my attention. As Nitro would say.....electric....I make my living from this .....but I know you can do it...just keep working!

Not many people would enter right at the open 8:30 cst with a market order. But I do. My trade usually lasts 1 minute, but am out in 15 min. max.

A 93% winrate is the same as an 60% winrate if the 93% winrate has an avg w/l ratio of 0.148 and the 60% winate has 2.799. here try this:

http://www.hquotes.com/tradehard/simulator.html

It can be construed as luck if someone goes for such a small target while taking such a huge risk. A system that does this cannot be defended as it would only take a few losses in a row to blow up. This is the reason for my time stop.....which has lowered my wirate to 85% but raised my avg w/l ratio even more....so I do not know what the winrate correlation is anymore....no one would believe me anyways.

Unfortunatly, this system did not work at the beginning of 2002...backtesting did not prove it out. So I do not offer it commercially....only for my own trading account....as when it stops working it can be devastating. I would not recommend this for anyone. I feel that I am able to recognize when it stops working before I blow up....I am currently not trading it while refining the target. But it still works.....

This is not an endorsement of a trading platform by me.....and it is not even available in the US yet.

http://www.strategyrunner.com

Michael B.

P.S. as far as my net worth......this is a work in progress... and yes I lose millions in the ES trying to learn how to scalp. NITRO please help!
More...

Thanks. I'll look this over.
 
Quote from dbphoenix:



What more do you want to know?
More...

Here is the first post of the thread

I am interested in finding out how others trade the S&P emini futures. I trade a system that targets 2 point moves most of the time. I guess I am a scalper, not really sure. My risk on these trades is very small.

Does anyone take a daily position, in the morning before the open in anticipation of the direction for the day? Is this successful?

What type of targets do you look for? And how do you handle your stops? How do you handle the erratic moves at the open?

Thanks.

Sorry for all the questions, feel free to be brief. It just seems interesting to me and I don't know anyone who trades the ES this way.
 
You must research yourself.....you will get it......If I handed you a system on a platter with all the fixins......you would not appreciate...

Make it you own.......there is no grail ok? You heard it from me! I am only a senior member of Elite trader and there are many Elite Members on your thread that know much more than I. (but my posts are few and big) just search my name and you will see.

Thank you for reading my post and researching it...I put a lot of thought in it and spent my time to share.

I expect to see you posting that you have several million Lira soon ok?

Michael B.
 
I am a giving person....just ask others here at Elite Trader.

Please do not lose your faith in mankind over my posts to your thread. Use more valid reasons.

For you to be a trader requires a hunger for trading. As a man you learned rejection from the girls you asked out on dates....mostly no's.

You must learn failure and cuttting losses to trade from your living room short term.....you are not in the pit!!!! Those tick scalpers there fail too......do you think you can compete from your living room with them?

Nitro is the only one that can do that...that I know of....but he used to be at the Merc....

Michael B.
 
Quote from ElectricSavant:

You must research yourself.....you will get it......If I handed you a system on a platter with all the fixins......you would not appreciate...

Make it you own.......there is no grail ok? You heard it from me! I am only a senior member of Elite trader and there are many Elite Members on your thread that know much more than I. (but my posts are few and big) just search my name and you will see.

Thank you for reading my post and researching it...I put a lot of thought in it and spent my time to share.

I expect to see you posting that you have several million Lira soon ok?

Michael B.
More...

Will do. Check out my journal sometime, should put you to sleep.

http://www.elitetrader.com/vb/showthread.php?threadid=18677
 
Nice system....how many double bottoms/tops do you find per day when the macd and the stoch get higher lows or vice versa..at the same time the bottoms or tops are formed on the 1 min?

Do you ever get false setup with your macd/stoch filters?

Michael B.
 
You must log in or register to reply here.
Back
Top