I did 4.2 pts in TF today from 3 trades following trending moves, and my counter trend trade was selling 6B last night which I am still holding partial position. Trading the ES can be very inefficient at times so I just stay away most days.
Yea... I just started to realize that a bit ago. It's a pain in the ass except for during more volatile markets. Once the vix drops down under 24 it can start to become a headache. I am only going back to it if I ever need the high liquidity. I will however continue to monitor it's technicals because they are pretty key to the overall market.
Hmm, let me take a guess at which trades you caught... I think you bought at this fifty percent retrace late day as the market was starting to pull together toward close, before the nonsense of the last 30 minutes. I was tempted to buy it on the NQ, but I have been keeping to my rules well lately. No trading last hour, and especially not the last 30 minutes. I do trade upto the last 30 minutes, but not on days like today... End of month/window dressing, etc... No thx! The only other thing I see that I would consider a trend is the downtrend out of the gate which I am sure you got some of. In a down-trending day I ONLY buy off support, and hopefully a solid divergence setup off support. I don't really counter trend much anymore though. If I miss the short trade I have to wait like 30-60 minutes for the next one... So, might as well as take a lower odds long setup off of support for a light scalp. Still get impatient waiting for the perfect setup sometimes, Hehe...
Ill cyall later. Nice to see there is some "sane" people on this forum. I will try to stay off here until the weekend. Gonna focus on trading hard the rest of the week. My NQ charts are officially tuned in and ready to roll. Honestly, I barely looked at my signals today for my few trades... Support, resistance, and trend... All that is needed!!! As long as you only buy off support, and only short off resistance... It's very hard to get trapped and stopped unless the market is trending fast. Good luck all!
That is funny! ES is a good market to learn but not the best market to stay in once profitable, for the retailers.
Assuming one knows what they are doing and isn't a large enough player to move the market more than a tick or two , I think CL and TF present the best "bang for buck" meaning comish and spread are the lowest cost vs average daily range . NQ is a good contract to learn the ropes with if one is new to futures and is dipping there toes in "live" . I used to trade YM and NQ when I started with futures, fun contracts.
Grrr... I don't care for the NQ. Rippy mother. Hard to get a feel for. Got clipped a couple times and ditched it. Switched back to the ES and nailed a couple, then played the TF through lunch into late day and just nailed it trade after trade...
I royally suck at holding trades properly... Bit too trigger fingery with market orders. Gonna switch to OCO tomorrow and try to follow my rules better.