Sheesh Fellahs those "Elliot Wave' traders must be killing it on today's 1st hour...
Winning, Losing & BetSize trading the ES
- Thread starter ElectricSavant
- Start date
ew put aside for now - let me suggest something you will not like but it will be good for you.
let's pretend that you will HAVE to go to market orders to get REAL fills on both entry and exit.
that means you will burn two ticks for just being in the game. you really need to make two ticks of profit and be successful over fifty percent of the time to about break even.
so i suggest you try and trade start to finish with one whole point as your goal. if you can accomplish this then at least you can stay in the game long enough to get really good at it.
oh btw this is the same challenge that was thrown out at me when i started but the sp traded in .05 increments not .25 per point.
m
ok 4 tick market orders FOR ENTRY AND MANUAL EXIT NO BRACKETS FOR tomorrow...3 ticks is killing me today.. My outliers are off the DOM and I am carrying 2 contracts! I have seen -$875.00...nearly setting off daily loss limit.
If I survive today then my system has taken another step of confidence for me. Trending with small pullbacks is not good for what I am doing.
ES
If I survive today then my system has taken another step of confidence for me. Trending with small pullbacks is not good for what I am doing.
ES
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I gotta watch the market now...maybe I can learn something after getting slapped!
es
es
Mark... if you can make a scalper out of me...your a miracle worker!
ES
ES
I do not know how many days are like today for sure so I do not want to start over with a different method of entry. From what I have heard these days of trend with small pullbacks occur less often. So it would be silly for me to keep trying to reinvent the wheel every time one of these days came. My entry had a couple of good days when the market did not trend with small pullbacks...yes i had hundreds of trades but not a lot of days..Note to self: look at the daily candle today to see if there is anything unique about it..
ES
ES
es - losing is good for you better to lose some right now than latter so you get some experience. there is nothing like losing to make you think about what you did right and wrong.
as many of us have told you sim is always easier because you get the fill but you need to be prepared for when it just keeps hammering your price and you are not filled.
so if you can survive at least allowing for 1 tick of slippage on one side or the other of your entries and exits it will be much more realistic. allowing two ticks guarantees you tickets to the party.
don't get sidetracked trying to many different things you can suffer from information overload.
you recognized this was a trend day if that doesn't suit your trading then relax, don't trade.
as many of us have told you sim is always easier because you get the fill but you need to be prepared for when it just keeps hammering your price and you are not filled.
so if you can survive at least allowing for 1 tick of slippage on one side or the other of your entries and exits it will be much more realistic. allowing two ticks guarantees you tickets to the party.
don't get sidetracked trying to many different things you can suffer from information overload.
you recognized this was a trend day if that doesn't suit your trading then relax, don't trade.
How many trend days Vs. Non-trend days are there? Are there more non-trend days? I know the general answer but I am just checking..perhaps you have more to add?
Perhaps after losing $500.00 I could get flat in the middle of the session and go to trend strategy while maintaining my daily loss setting of 1K?
ES
P.S. Remember I have been trading as long as you (41 years now)...on and off part time and full time professionally and non-professionally... I am just starting over with a clean slate and mind to learn how to scalp or even hyperscalp..but I learn quickly because of my experience.
Perhaps after losing $500.00 I could get flat in the middle of the session and go to trend strategy while maintaining my daily loss setting of 1K?
ES
P.S. Remember I have been trading as long as you (41 years now)...on and off part time and full time professionally and non-professionally... I am just starting over with a clean slate and mind to learn how to scalp or even hyperscalp..but I learn quickly because of my experience.
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Think about this....Everybody was selling last Friday closing out their position for the weekend. Then Monday came and the selling continued. If that tail on today's daily candle remains in this relatively flat week then the selling will continue tomorrow. But this is for other traders...will it trend is the question?
ES
P.S. Its really hard to call shorts in this perpetual bull....
P. S. S. we could really sell off this PM also...LIKE BOOM Ahh! nobody reads (or copies) my commentary anymore I am no longer a CTA. ALSO..FOLKS THE DIVERGENCE I SEE IS SPELLING DOWN DOWN DOWN NEXT WEEK OR EVEN NOW
ES
P.S. Its really hard to call shorts in this perpetual bull....
P. S. S. we could really sell off this PM also...LIKE BOOM Ahh! nobody reads (or copies) my commentary anymore I am no longer a CTA. ALSO..FOLKS THE DIVERGENCE I SEE IS SPELLING DOWN DOWN DOWN NEXT WEEK OR EVEN NOW
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