Ditch & Sim, You can both be right at the same time... it basically depends on the ability and inclination of a given trader to trade the way you both do with discipline and an adherence to stop losses... your views are not necessarily mutually exclusive; they can co-exist... Peace, Candle
LMAO!! Dude you are funny as all getup... "2 tick newbies".. BWHAHAHAHA! 200/contract sounds ok,,, maybe a bit light..but not too bad..
c'mon man, you're making money, relax. Getting aggrevated every time you bs on et will get you a heart attack pretty soon. thanks for your info, but no offence, i'll stick to my own style of trading, it suits me fine.
I don't appreciate being called a fool. I never called you anything insulting. But, that's all you've done since you came on this thread, so I guess I shouldn't be to surprised. Apparently, you didn't check my profile...I'm 44 years old and I was trading S&Ps 10 years ago. And, yes I do admire Mr. Greenspan. But, not just because he's a great trader, but I met him once, and he's a nice guy, too. You've got a real attitude problem son, and you're not going to get anywhere in life, if you don't start showing a little respect to other people. I wish you the best...cheers!
What type of stop do you use? I went through the past twenty days worth of data, and saw some good trades that followed your methodology, but also many that failed. I would be interested to know your money management/stop/exit strategy. Thanks for sharing.
He goes out on stops. Check out the first graph posted on the 3rd. You may see a little room on both sides of the trade for a little additional action as well. I like how he shoots for 200 bucks and misses a little and doesn't worry about it. One or two trades like he does evey day will be quite an accomplishment after a while. About 8,000 a month less the amount he misses by on each trade.
I invite you to come into the chatroom and post your trades in Real Time LIVE, with stops and profit targets. So for example, all you have to say is: Simtrader <-- This is automatically generated by the chatroom software L ES 989.25. SL 987.25 PT 994.25. <-- This is what you type in or alternatively L ES 989.25 <-- Alternate easy post of trade, or even easier L ES 9.25 <-- Real fast and easy - takes 5 seconds L stands for long. S would be short. After that would come what you are trading, in this case ES, but obviouly you could post for DAX or ESTX50, etc. The first number is the entry price. The SL would be the Stop Loss and the number after it is the correspoding stop loss exit price, and the PT would be the Profit Target and the number next to it is the corresponding exit profit target price. These PT and SL are optional as shown above in the easy or Real fast and easy examples - just need entry and exit. When the trade is finished, you would say, out ES + 4, etc. If you did not want to, you would never need say a word to anyone, though we are all pretty friendly. nitro
Jack, as usual - what the hell are you talking about? Dunno whether you love or hate me! Thank god at least you spared us another full page of philosophy. But your "8K minus misses", assumes that I trade like a robot doing two $200 ES single contract trades a day. Except that's probably not what I do. I may take only the first trade, but it might be in the DAX (c. $400 profit) and it might be a five lot. Then again I might not trade at all. As for re-posting my initial chart. Thank-you, and the point is what exactly?! I love ya baby - you do waffle incomprehensibly. Ditch - Greenspan is the Fed Chairman. He doesn't spend seven hours a day glued to a computer scalping the ES 60 times a day, OK?! If he did, he would lose his job. Since he doesn't, then why are we even talking about him since this is a thread about ES and NQ trading. See the very first post! It ain't a thread for spouting unrelated BS to make yourself feel better. Try posting YOUR method and maybe I 'll show more respect. You contribute nothing useful. My method is far from perfect. I'll leave such claims to the mutual admiration society who say how they catch every turn on a 1 minute chart, using 10 indicators, making 17 points a day. My point is that you may leave a lot of potential profit on the table following my ideas. But you may also get rich because you are trading in a realistic manner. Something the 1 minute "volume" guys don't do. To answer the serious posters question about where I put my stops - this is the most discretionary aspect. Years of experience come into play here. As a guide, try the following: place it initially $200 away or below a pivot low created by the breakout (whichever is smaller). Move it higher behind every strong up bar. Or just trail it a certain number of points away. Experiment with what works best for you. Expect the trade to move in your favour within 4 bars or else scratch it and look for a reentry. Most important of all, get and trade the DAX & ESTX50. The ES is second tier by comparison. On every BBS you always get a small band of "guru and his follwers" club. Stroking each other at every opportunity. I've even seen responses on this thread like "this [VD 10 indicator method] is the holy grail". "As usual, thank you so much Mr Guru". There's about 4-6 of you on this thread, and YES all 4-6 of you are totally full of shit. Everyone else who is passively reading or who makes the odd non-guru comment ..you're OK. And no, I shouldn't be nice to the guru club and remember my manners! "Can't we all just get along?". No we can't! These guys don't trade or they don't make money. Period. Anyone who is an "Elite" member likes the sound of their own voice too much. There were 23 pages of drivvel in this thread dominated by the guru club (with a few exceptions). Then along comes a new poster and does something very rare: he posts a method on page 24 with clear instructions and specific advice on how to check it out. To top it off, he includes a screenshot showing how it didn't work! Which makes me rather unusual if nothing else. Yet the guru club is full of 1 min chart screenshots capturiung every turn and staying with the move til the very end. What a joke! I'm a trader not a guru who needs a following. Me and my method and flawed and imperfect to the hilt. Just the way I like it