Looking for overnight and morning bounce so I bought contracts at 1180 at 7 PM tonight. So far at 1180.50. Looking for positive futures in the morning to get out in the pre-market. Phil
Futures were down in the pre-market today so closed out for 2-point loss. Was away all day so no scalp trades. we will see on Friday what I can find. Phil
good job on this trade! yep been using the NYSE TICK for a long time --- just love how it can be used to trade the ES and the ER2!
Well I tried again last night and bought some contracts at 1180. Was happy to get out this morning at 1185 on a nice surge. I am sorry I did not post this last night so I know it sounds like hindsight posting but I really did do it. Anyway, if I scalp today I will post the trade and the charts. Given the time necessary to scalp it is hard to do this in real time. ALl others free to post as well Phil
Another scalp today. I had an upward trendline and the S&P moved back to it and I was waiting for signs of bouncing off the trendline or breaking through. The TICK went negative past -600 as the index began moving sideways in the 1-minute chart. But the next minute the TICK opened lower and surged back over to about 150. The next TICK reading went positive more so I quickly went long at 1181. The TICK next retreated slightly so I was ready to close out but then a nice long candle formed and the futures moved back higher and I closed out at 1182. As the chart attached shows, the SP did not make the move higher yet but the futures moved early so I grabbed the profit while it was there. So the trendline and TICK highlighted an opportunity and I jumped in when I could. Phil
Gave away most of the profit trying to get cute with trading around the trendline. Broke my rule of getting my points and then walking away for the day. Pretty mad at myself. The net is still positive for the day (barely) but just letting myself drift outside of my approach is inexcuseable! Sorry, had to share with you the failures as well as the successes. Bad bad bad..... Phil
nice journal optioncoach. have you ever tried trading shorter time frame nyse tick signals on a higher ES timeframe? example... using 3 min tick to trade 5 min ES. Curious if you have what your experiences might have been?
I have not because the current software I am using only has 1,5,15 minute intervals. But next week I will have my TradeStation account running and use their l ive software. I prefer this because the software I am using now (TCNet) only has S&P live and not the ES. I may be missing out or taking some losses because the futures move ahead of the index. SO I will be trading using the live charting of the ES and the TICK next week. Have you found something in using different time periods for the TICK and ES? Phil
yeah...i have been using 5 min ES chart with a 3 min tick and am very happy with it so far although iv'e only been using this setup for 3 weeks or so. The advantage im fiding is you get almost two tick bars inbetween every 5 min ES bar so im finding that alot of times you get an opportunity to verify the previous tick before commiting to a trade and at times get a nice lead on the move up or down. For example alot of big tick moves immediatelly pullback and reverse on the next 1-3 ticks. Its been a nice filter having that second tick to see where momentum ends up before commiting. Ive been saved alot of times from entering a couple points too early and getting stopped out. I usually in a trade for 5-30 mins though. havn't tried a scalping yet though.
Well one feature I like about TCNet which I will miss is that using my scroll button on the mouse I can instantly switch between 1 and 5 minute time intervals on the S&P and TICK. I always use both to trade so I see the 1-minute changes in TICK and S&P and see the trends clearer in the 5-minute charts. I will look into what you are saying though. Might be interesting. Phil