Questions for experienced ES daytraders?

Discussion in 'Index Futures' started by wtfauoa, Sep 17, 2016.

  1. wtfauoa


    I am interested in daytrading the ES and would like to ask some experienced ES daytraders a few questions. If you are in this category, I would be grateful if you could reply here?
  2. what do you want to know?
  3. It is nice to see the person with 1 post offering to answer the questions of the person with 7 posts. If nothing gets shilled here then call me paranoid.
  4. wtfauoa


    @Stocktracker , the first question I have for you is what style of trading you use in order to daytrade the ES? You can be as brief or as detailed as you like, but I would appreciate if you could make it as simple as possible so that I can understand what you are talking about.
  5. If you want to trade the ES just because of low margin requirements then I hate to burst your bubble but you need at least a $5K bankroll to trade 1 contract. I don't care if you have $400 margins. To survive and make a good attempt at trading it you need a bankroll to weather the storms.

    Unlike any tips you have received so far this one I am about to share with you is based on actual stats (backtest yourself to see). The first 10 Minutes to 30 Minutes of the Cash Open (8:30AM CST) has the highest range (HIGH-LOW) than any other time period besides the Close 90% of the time.The 90% stat is from the ES. If you want to scalp with a tight stop then this would be the best time of day to do so in my opinion. Any other time of day and you will get chopped up.
    piezoe and turco_directo like this.
  6. Overnight


    In my humble opinion...Don't bother with the bloody ES. Don't look under your mattress, find a grand sitting there and think, "Oh, let me just learn to trade with the cheapest shit out there with my "free 1 grand"". It WILL NOT WORK.

    Get sim, try GC, and think about putting 25K to 50K into the thing, using a single contract. See how it works out for you. *shrugs* ES=Easy Sucker. Don't fall for it, because in the immortal words of Admiral Akbar...."It's a trap!"
    fordewind likes this.
  7. wtfauoa


    Correct me if I am wrong?

    1. You are daytrading the ES throughout the day, but focus on the first 10 to 30 minutes for tight stop scalping due to this time being the most trending period, as we will see the High and Low of the day being put in the first 10 to 30 minutes 90% of the time?
    2. Tight stop trading from 09:00 CST is a lot more risky as the ES will be more choppy?
    3. The close of the day time is the next best time after the first 10 to 30 min for less choppy trading?
  8. If he wanted to tape read and scalp then 30 Year Bond Futures would be best. I agree, the ES sucks and it is brutal. For pure tick range in CL is the clear winner. I don't see the attraction to GC from an intraday perspective. It looks too thin on the DOM to try and tape read. Maybe GC is great for longer term trades but not for day trading in my opinion.
    Joe6Pack likes this.
  9. wtfauoa


    I disagree actually, and believe the ES is where the real money is to be made, once you know how to trade it correctly. This is the reason I am asking the experienced ES daytraders to reply here.
  10. That is just my opinion. If you have a larger bankroll then you could widen out your stops and trade any time of day. The margins are higher but Crude Oil would be better for scalping than ES in my opinion.
    #10     Sep 17, 2016
    comagnum likes this.