ES Mechanical Madness

Summary

Points of previous profit this month 0.0

Breakout -3.25*7 = -22.75

Points of closed profit after today -22.75

Open positions: Swing - Long 7 from 1149.00 no overnite stops so the stop will be adjusted in the am. Last stop was set at 1153.75.

 

I can't figure out how can you trade one account with 3 systems. For example you're holding 1 contract long position over night. Next day the system call for short, so what you do? You short 2 contracts? Your swing stop is not reach yet.
That why I'm I don’t understand. I understand you're using breakout, reversal and swing. Could you explain me again? Thanks.

 

No...you dont short 2 contracts.

Just follow all the rules and it all works out right.

Example... for simplicityly, lets say we only trade 1 contract
at a time.

System A says go long 1 contact - buy 1 contract
Later...System B says go short - cover 1 contract
Later... System B says cover - buy 1 contract
Later....System A says sell - sell 1 contract

Balance: All trades closed - 0 contract balance

peace

axeman

 

Thanks for explaining axeman.

To Msprofitable.

You day trade breakout and reversal systems. Also trade swing. Now you’ve 7 contracts at 1149.00 for swing trade. My question is tomorrow your day trading breakout system call for short, what’re going to do. Your swing mental stop is not reach yet.
I understand if you day trade with one account. I’m not clear that when you mix with swing trade. If you’ve 2 accounts, you trade one account for swing and the other for day trading. Thanks.

 

I'm long 7 right now. If I get a short signal for breakout then I'll sell 7 contracts (which will make the overall position flat). Then if the market moves higher and hits the stop on breakout, then I'll buy 7 contracts which would cover the short and put me back in the long 7 position for swing. If it keeps dropping and I get a exit signal for swing then I'll sell 7 contracts to exit that position and the overall net position would then be 7 short. It's not very tough. In our family account we trade 8 systems in one account without any confusion.

 

Thanks for clearing me. I day trade 2 ES and 2 NQ with the bankroll of $ 25,000.00
Its compare to your trading size and bank roll how many contracts should I trade using day trade and swing?

 

I think the number of contracts to trade is hard for me to help. I think it depends on how good your method is, the expected drawdown, and your goals. My goal is for a 50% return per-year and I expect only small drawdowns. Very rarely do all 3 of my systems trigger going in the same direction. Normally I have 1 or 2 of them going in one direction. If 2 are active then I'd have 14 contracts open at one time. My account is about 300,000 so my leverage would be about 1 contract per 20,000.

 

Thanks for helping me. You’re very nice to answer my questions. Now I got the idea how many contracts I should trade. I’d been trading for 5 years. I start with option and then Nasdq day trading also Nyse. As usual I lost money.
I’d start trading ES and NQ because of up tick rules. I was trading ES for about 1 ½ year. Last year I start making money. My trading systems are very similar to your. Can you share the idea of swing trading? If you can’t I understand it’s OK. If you do, you can send it to my e-mail as bellow.
Winminn1@comcast.net
I understand that if you copy successful people, I’ve a chance to be succeeding too.
Thank you.

 

Swing exit 1153.75

 

Breakout long at 1155.75. Initial stop at 1152.25.