Agree. I've mostly used the param, "try to risk 4 points where I might make 12+"... but I can see the merit of doing similar risking only about 2 points. Seems to me the ES is too noisy to try to get by with risking <2 points.
What's it like to be an ES scalper these days?
- Thread starter SoesWasBetter
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Agree. I've mostly used the param, "try to risk 4 points where I might make 12+"... but I can see the merit of doing similar risking only about 2 points. Seems to me the ES is too noisy to try to get by with risking <2 points.
There's threads here about why so many are attracted to Emini ES futures.
Someone posted an article by a research firm about the "why". Its the most heavily marketed (advertised) trading instrument by brokers, charting vendors, forum discussions and such...primarily during the 90s and early 2000s.
There has been a slow shift from Emini ES futures as the top dog advertising vehicle since 2008 - 2009 financial fiasco.
Well, today was a good scalp day.
Since President Trump got sworn in, I have had to double my risk on scalping Indexes, am not adverse to doing so cause of my very low losing percentages. But when I do have a losing day, Holy Cow Batman the Indians have sharp arrows. But it did allow for me to design first system in all 30 years of trying to blend a scalping system with a homerun day trading system and still have low enough losing percentages I can live.
I think we both know the "whys", you posted the advertising but please add "imagine yourself done after couple hours trading under financed with $400 margins". Way too many have the profits spent or dreaming on a nice warm beach while the rest of us are working balls to the wall to constantly trying to ekk out a little more. It never going to change unless the exchanges up the day trading margins.
I think scalping or day trading in ES is the hardest instrument on the planet to trade, Crude Oil comes in 2nd. I often think it is so someone can trade/talk against the big dogs. ES is most liquid but HFTs and Hedge funds trade it like a science now, either discover the whys/whens they kick in automation, trade when they aren't going in or find something where HFTs don't trade much
But on the positive side, it's a nice low barrier to entry. I have many multiples of minimum margin for ES BUT some newer traders don't and are forced into crappy markets like forex and crypto stuff. I'm not saying very many will succeed but maybe a few will that wouldn't otherwise be able to get in the market.
Just because of low movement. I actually traded ES for the first time in forever today, crazy slow but it was nice just picking up a few ticks here and there after getting destroyed by the oil market yesterday. I'm putting myself in timeout for awhilewhy that ?
Today has been the weakest trading day of the week for the ES. It's trapped in a series of tri's, but it is still good for a handful of ticks per.Just because of low movement. I actually traded ES for the first time in forever today, crazy slow but it was nice just picking up a few ticks here and there after getting destroyed by the oil market yesterday. I'm putting myself in timeout for awhile