Personally, I hate trend days. I much prefer days which are full of chop.
What about you? Do you prefer trend or chop?
What about you? Do you prefer trend or chop?
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Trading the ES
- Thread starter americanhero
- Start date
Ok. I don't use stops.
I manage risk with size.
I got some good wholesale prices today, offloading ES at retail prices.
I manage risk with size.
I got some good wholesale prices today, offloading ES at retail prices.
Quote from americanhero:
Personally, I hate trend days. I much prefer days which are full of chop.
What about you? Do you prefer trend or chop?
Doesn't matter to me much any more, 1st 30 minutes I generally take counter-trend(within a higher trend) trades for 2pts unless price action or time says different, then next 4.25hr are chop signals, or new highs/lows and trying for the extreme, then 1.25hr of counter-trend for 2pt, then it is nap time. I don't use stops any more and average down on all trades, want the trend to start after I get in or for ES to go against me several tics and then I try to get out at plus one tic on original entry, I do well on the add-ons. When i do have a loss, it is staggering and spend rest of the day working back to breakeven for the day and then quit. In the long run this works out, but you have to have balls the size of ... I DO NOT recommend young traders to trade this way, took several years of studying price action to understand.
I learnt everything from a guy called Chuck, who was in the Millionaire Traders book.