Winning, Losing & BetSize trading the ES

ElectricSavant

ElectricSavant

My current system that I am practicing with has revealed something. It has a very high winrate because it only goes for 1 tick. The stop loss is always very close and is getting hit every 7-10 trades. But I have discovered that after a SL is hit to double my contracts to (2) to recover in time to reduce them back down to (1) for the next SL. I have a daily loss limit set globally at TradoVate for $250.00.

Do any of you trade a metric like this and can you add anything?

ES
 
ElectricSavant said:
My current system that I am practicing with has revealed something. It has a very high winrate because it only goes for 1 tick. The stop loss is always very close and is getting hit every 7-10 trades. But I have discovered that after a SL is hit to double my contracts to (2) to recover in time to reduce them back down to (1) for the next SL. I have a daily loss limit set globally at TradoVate for $250.00.

Do any of you trade a metric like this and can you add anything?

ES
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Michael, Michael, Michael... are you out of your ever-loving mind?

Trying to scalp the "noisy" ES for 1 tic? You should be risking "a few points, with the reasonable hope of making a dozen".
 
I don't know how? I am learning fast with this hypertrading though.

Scataphagos said:
Michael, Michael, Michael... are you out of your ever-loving mind?

Trying to scalp the "noisy" ES for 1 tic? You should be risking "a few points, with the reasonable hope of making a dozen".
More...
 
ElectricSavant said:
I don't know how? I am learning fas with this hypertrading though.
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I don't know how to tell you "how". You need to study TA to find the places where "risking a few points to possilby make a dozen" applies.

I can't imagine anyone being successful trying to scalp the ES 1 tick at a time. (I don't doubt that a couple of ETers will chime in, "I scalp for 1 tic and make money". For those who do, hope they include their "net return on capital". If you trade all year and end up + $200, you're only technically "making money".)

Should be the same principles as trading FX like you formerly did.
 
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in old days big sp when it was trading in the 200's - a female broker i had started making my stops a stop and reverse because i was just that bad at trading and it worked very successfully.

then i started letting that influence my picks and it took me darn near 10 years to get back on track.
 
ElectricSavant said:
I don't know how? I am learning fast with this hypertrading though.
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"Scalping for tics" would be hypertrading. Don't think that's the best approach. If you can learn to be a "day-swing" trader, you could have 1-2 good trade plays per day... maybe 6-10 if you tried to catch "most of the wiggles". Both are valid.

I hate to admit I this missed play... not because I didn't understand it, but because I didn't bother to look... poor discipline on my part... didn't see it until the weekend, and "the horse was already out of the barn".

BUT... The SP/ES essentially made a "matched high/double top" last Wednesday @ ~2845. You could have reasonably shorted it with "good TA reason", risking a few points, and be sitting on a 40+ point gainer right now.

(Shoulda-woulda-coulda.... constant theme in all of our trading frustrations.)
 
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ElectricSavant said:
My current system that I am practicing with has revealed something. It has a very high winrate because it only goes for 1 tick. The stop loss is always very close and is getting hit every 7-10 trades. But I have discovered that after a SL is hit to double my contracts to (2) to recover in time to reduce them back down to (1) for the next SL. I have a daily loss limit set globally at TradoVate for $250.00.

Do any of you trade a metric like this and can you add anything?

ES
More...
Hello ElectricSavant,

I do not want to discourage you, cause you may make money consistently and you may not. But trading for 1 tick seems a bit small. All you can do is sim test and see what happens.
 
I'd go for a few more ticks. I set limit orders at what I define as short term extremes that are likely to snap back a few ticks. You can then take half off after a few ticks and let the rest ride for longer, in the case of strong trend. Today:

es.png


Reentering after SL is a good training exercise for the longer term. You just have to be disciplined enough not to snowball the losses when you get a strong trend against you. The daily loss limit may help you with that. My entries now are where I used to have my stops when I was a noob.
 
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