For the profitable ES Futures discretionary daytraders: What kind of underlying concept you use ?

Discussion in 'Trading' started by TrAndy2022, Nov 2, 2024.

  1. tony.m

    tony.m

    @padutrader where are you ?
     
    #21     Nov 3, 2024
  2. Why even bother answering the question? We know how this goes. Someone gives a simple answer, especially if their strategy revolves around charts, and you along with others are gonna tell them that their method doesn't work. Then, it gets into this whole argument about who's approach is right or not.
     
    #22     Nov 3, 2024
  3. maxinger

    maxinger

    #23     Nov 3, 2024
  4. TrAndy2022

    TrAndy2022

    No, not from my side.
     
    #24     Nov 3, 2024
  5. SteveH

    SteveH

    100% Money Trust. No good deed...
     
    #25     Nov 3, 2024
    ironchef and birdman like this.
  6. Here's a concept that works on stocks (probably other things too):

    "Stack all the odds in your favor"

    Of course, it is subordinate to the main rule:

    "Protect yourself at all times"
     
    #26     Nov 3, 2024
    Sekiyo likes this.
  7. I've been trading ES for 14 years also have an IOM membership to reduce trading fees.

    1. I ditched time based chart and went to Volume based this needs to be adjusted according to volatility. Tick chart has its own problem you can look it up

    2. I base all my decision on the slope of 20SMA. I want to see the steep slope and look for pullback. Always in the direction of trend

    3. I kept my stop loss at 1 point and have profit target of 1.5 point or 2 points depends on volatility. 1 point stoploss worked for me during regular times only during pandemic and crazy times I adjusted to 2 points. However 99.99% I put stop at 1 point

    4. Only trade from 9:30AM EST to 11:30AM EST

    5. Avoid trading for 1 ~ 3 min after important announcements. See forex factory news

    This is pretty much it, still surviving since 2010
     
    #27     Nov 3, 2024
  8. mikeriley

    mikeriley

    I don't trade ES, but crude oil, NQ and Gold.

    Learn how to trade higher time frames, preferably
    Daily charts and you wont need advice from anyone. (PATIENCE = PROFITS)

    The stock market is a device to transfer money from
    the 'impatient' to the 'patient'. - Warren Buffet.

    Not just the stock market, but any market.
     
    #28     Nov 4, 2024
    Sekiyo, Wide Tailz and TVIS like this.
  9. Sekiyo

    Sekiyo

    That's right. I think ... Short term the market is going nowhere :D
     
    #29     Nov 4, 2024
  10. ironchef

    ironchef

    15 years and still going strong. You are an elite trader. :thumbsup:

    Thank you for your post. Very helpful.
     
    #30     Nov 5, 2024
    bellagioprince likes this.