Some tips in Trading the ES successfully

Discussion in 'Technical Analysis' started by EsKiller, Mar 21, 2011.

  1. Actually, I had no intention to take your advice.
    Like I said in my post, my request was to benefit others.
    Additionally, when you've been a member more then two weeks, you will see that ET i s full of "experts" peddling their wares without any proof.
    If you want to differentiate yourself as someone who is not full of sh!t, and actually do care about helping people you will provide more details then you have. Especially when they don't require showing anything private such as account balance, etc.


     
    #31     Mar 28, 2011
  2. Handle123

    Handle123

    I have been day trading 25 years and mainly the S&P500/ES in these years. I have day traded couple dozen other markets as well and stocks. You have to understand that each market has it's own personality, some markets like Crude Oil, Russell and currencies are hard trending markets, some of the reasons are lower volume compared to ES. If a 1000 lot order comes into ES, it just gets swallowed up in a instant and rarely loses a tic, whereas you put a 1000 lot order in other markets, you will get several different prices, plus if your stop gets hit, can really hurt. The ES is a congestive market and when brokerages are in the market, they are hedging and much of the time they enter in congestion, when the market is trending hard, volume vanishes, and you can witness this on the Dome, watch the Dome 3 minutes before a huge report comes in, price levels on both sides are hugely reduced, smaller traders are generally only there.

    If you stay in the "game" long enough, you develop methods that work well for the market you trade, one for congestion and others for running markets. Trendlines work better on some markets than others, crude oil works well on trendlines, whereas Nasdaq less so. I am basically a scalper, ave trade makes between 2-3 tics after fees, I average down on each trade, so even my breakeven trades will make money. I use no stops, and I never recommend anyone to scalp, just too tough for retail trader to do well. You have to often be happy with a one tic profit, but what the ES does have, is excellent volume.

    There are some "patterns" that work well in any market, failures often do. Many trades do breakouts only to see market stops them out and then price go back into original direction, I laugh each time this happens, cause I am only getting in after the market has come back. The ES is known to break a previous pivot only to come back, (I mainly do counter-trend trades), these are called "Running stops" or "Traps", they happen both against trend and with trend. You have to have patience and don't just jump in when you get ansy. I don't test to find the biggest profit methods, I test to find the smallest losing %, if you not losing, the account is going up.

    Thru the years I have developed four entry methods, mainly just two of them come up often 20-40 times a day, but where the profits comes in is developing 35 plus reasons of exits or when not to take the trade. I have an intense need to make something on each trade, very few trades for me ever make 10pts. You will find that good day traders are consistent when they make steady smaller profits, I simply don't know of anyone is consistently makes homerun trades and trades for a living.
    Now I do trade very long term commodities and there is where the real money is made in trading as far as risk to reward.
     
    #32     Mar 28, 2011
    beginner66 likes this.
  3. Handle123

    Handle123

    One of the biggest problems of forums as they have come and gone thru the years are the people in them. Before the Internet, there were 'clubs' that produced small newsleters, everyone there would add ideas or tips, and it was up to you to get off your lazy ass and test them yourselve.

    But we now live in a world where one offers "tips", and people wants tons of test results, all your rules, parameters and if you are dumb enough to show them, they still bad mouth you. These same people seldom offer anything to the forum except being rude and sarcastic.

    I have learned much from this forum and others through the years, but I spend 90% of my time each month on testing ideas.
     
    #33     Mar 28, 2011
    beginner66 likes this.
  4. What's a TF ???
     
    #34     Mar 28, 2011
  5. cvds16

    cvds16

    Russel 2000
     
    #35     Mar 28, 2011
  6. samus

    samus

    Personally, I trade totally on price action. I don't use indicators anymore with one exception... nyse tick. If your not using nyse tick, your trading the emini blind and with one hand tied behind your back. The key to successfully trading the emini IMHO is to follow the big money.. the institutions... and you can follow the big money by watching the tick. Google it and you'll find plenty of examples on how to do this.
     
    #36     Mar 28, 2011
  7. I think people are old enough on ET to make there own decisions. If you do not like this thread then do not view it.
     
    #37     Mar 28, 2011
  8. You have just a few years on me but we look at our charts a bit differently.
    I'm in my trades for anywhere between a few minutes to as much as an hour or so. I trade momentum and targets and all of my charts are traded identically. My patterns work on all of my charts. I rarely get stopped out and also do not purposely look for high profit entries.
    I have only a few entry criteria but one exit criteria. We have the same desire to make something on each trade and are not looking for home runs. Anyone shooting for those all of the time will crap out eventually.
    I'm about 30% day trader (cause I like it) and 70% swing trader (meat & potatoes).
    I'm constantly testing and retesting as well.
    I guess you could say I trade confirmed price action.
     
    #38     Mar 28, 2011
  9. emg

    emg

    Another good answer!!! Gotta tell u handle123, you are a very few traders in this ET knows how to play the game. Perhaps, u are the only i have compliment in this ET site so far.
     
    #39     Mar 28, 2011
  10. emg

    emg

    As for you, I am 99.9% sure you will lose and be part of the more thatn 90% of small traders lose. Mark my word. The process you are going thru to become a successful traders is the wrong way.

    More than 90% of small traders lose. They just lose!!

    Good luck
     
    #40     Mar 28, 2011