scalping ES

Discussion in 'Index Futures' started by razf1, Apr 3, 2007.

  1. razf1


    I want to trade a very simple automated scalping startegy around the pivots.

    Basically, I will put buy order near support for 2 point target and similiar short orders around resistance. Initial size will be 2 contracts and will increase with profits.

    what would be a good stoploss point? I was thinking risking 5 points or is this too conservative?

  2. WD40


    take the average range of the past 21 days, then use it to position above/below the previous day's High/Low as stop.
  3. What language will you be using to program this automation?
  4. razf1



    No plans on automation at this time. Goal is 2 pts and out for the day. Currently trading this with 2 contracts but will add as account grows.
  5. razf1



    Isnt that a bit excessive to put a stop of ATR(21) jus tto make 2 points. Currently that would be risking 16 points
  6. WD40


    excessive it might seems, go do a back test and see if it makes you money.

    if you are too concerned,
    you can also add a time stop, say go flat at EOD.
    or a technical stop, say PH, PL, etc.,
    or a money stop, say 5% of your purse, etc.