Anatomy of a Day in the ES

Very tough day. I can't believe how many times you could have been whipsawed. Each time I decide to stay glued to the screen without break and take all the signals the market is the most difficult. Lost one tick all in all I think I 'll stop now. This market sucks.

What's your proportion of long and short trades on average? I have never traded on the short side with ES, when I was papertrading I would lose most of the time on the shortside.
Clearly today and yesterday showed how difficult and risky it is to short .

 

If you daytrade the e-mini's and haven't been shorting today, you're fighting the trend. That's probably why you think it's a tough day.

 

Well it depends on your style of course. But there were plenty of opportunities to lose on the short side anywhere between 10 am and 10:10 am many short on new morning low I am sure, then in the afternoon between 1:50 and 3:00 pm chances are if you expected a breakdown you had to scratch the trade.

If you look at the 30 min. it 's quite oversold coming from yesterday and hitting strong support and MA's even if there is a 5 min. downtrend and when you see the recent pops better be careful. Maybe there is a sudden change of psychology with the events at ENE, which could have dire consequences. Anyway there are plenty of opportunities trading long side only.
but why did I even reply?

 

I'm not one to tell anyone how to trade, but today is clearly a weak day for the market, and the market tipped its hand early. After the morning, trading on the long side was not a good idea except for quick scalps. In any case, good luck to you.

 

Kicking: “What is your proportion of long and short trades on average?”

I briefly looked at my Dec. contract stats and it looks to be 58% long and 42% short. Interestingly, this contract’s short trades have had a higher winning percentage than the long side while the average win is lower.

 

Hey guys,

What do you do on days when the market is really choppy (ADX between 10 & 20) . I keep getting stopped out during these periods unless I have a wide stop.

Any suggestions ?

--Ravi

 

I don't use the ADX so I can't say what I do when it's between 10 and 20. But if you think the market is choppy, the solution seems obvious to me: Don't trade until the market declares itself. Good trading.