Techniques for Day Trading the ES, NQ, YM, MES, MNQ, and MYM

SimpleMeLike · Nov 28, 2024

volpri said:
Here @SML is a short replay video explaining how I would have traded your first two trades. I stopped before your third trade. You diagnosed the errors of your 1st and 3rd trade correctly above in your post #2255. I mis-spoke about this in my video #2256. I meant to say you diagnosed your errors not that your trades were correct. The second trade you didn't say what you did wrong. I explain that in my post #2256. You ACTUALLY went long in that second trade. I meant to say in my post #2256 that you went long but I said you went short. Short would have been correct action but you went long instead so I wanted to clear that up as I mis-spoke. In summary both of those first two trades SHOULD have been shorts not longs. That was your error on each of those trades. My brain is getting tired and my fingers loose so I typed wrong things.

Now here is a video on a SIM showing your first two trades and how I would have traded them had I done so. It is a replay, but I think it might be instructive about how I think in these sorts of situations.

More...

Good Morning Volpri,

Thank you for the respond. Big thank you for the video you made for me.

So the mistake I made was not identifying trading range behavior?. Thank you.

What are your techniques to understanding trading range behavior ? I may need to peak at my buddy Al Brooks video again. Them trading ranges tuff on me.

SimpleMeLike · Nov 28, 2024

Good Morning Volpri,

Happy Thanksgiving.

Question please.

1. I noticed you go to 1 minutes, then 2 minutes chart and sometimes 5 minutes chart. Do you recommend still_trying_get_consistence price action scalpers stay on one time frame chart forever? Al Brooks only teaches on 5 minutes chart. Is this better.

Thank you

volpri · Nov 28, 2024

SimpleMeLike said:
Good Morning Volpri,

Happy Thanksgiving.

Question please.

1. I noticed you go to 1 minutes, then 2 minutes chart and sometimes 5 minutes chart. Do you recommend still_trying_get_consistence price action scalpers stay on one time frame chart forever? Al Brooks only teaches on 5 minutes chart. Is this better.

Thank you
More...

Better to learn and trade on 5m if trading real money at least until skills are somewhat developed. Gives more time for decision making. Once skill is second nature and highly developed the 1m or 2m is a good TF.

That said, IF TRADING JUST on a SIM to just learn skills then I would use 1m and 2m because you get more opportunities in the session to practice the skills of PA trading.

HawaiianIceberg · Nov 28, 2024

volpri said:
HAPPY THANKSGIVING TO ALL!

When we consider all things including the things we don't particularly like or are not too happy to have been through we STILL have a lot to be thankful for.

There is always someone, somewhere, who carry burdens greater than ours. So let us be thankful and remember that life is a journey that sooner than we would like the journey ends on earth, at some point. Make sure we are headed in the right direction for the final destination and ALWAYS be thankful for the opportunity to have lived, to have loved, and to have been loved.

Be thankful!
More...

Happy thanksgiving y’all!

Volpri, you’ve been an enormous help in my trading journey and I will forever be greatful for what you’ve shown me. Mahalo!

Trader_as_a_job · Nov 28, 2024

volpri said:
Here @SML is a short replay video explaining how I would have traded your first two trades. I stopped before your third trade. You diagnosed the errors of your 1st and 3rd trade correctly above in your post #2255. I mis-spoke about this in my video #2256. I meant to say you diagnosed your errors not that your trades were correct. The second trade you didn't say what you did wrong. I explain that in my post #2256. You ACTUALLY went long in that second trade. I meant to say in my post #2256 that you went long but I said you went short. Short would have been correct action but you went long instead so I wanted to clear that up as I mis-spoke. In summary both of those first two trades SHOULD have been shorts not longs. That was your error on each of those trades. My brain is getting tired and my fingers loose so I typed wrong things.

Now here is a video on a SIM showing your first two trades and how I would have traded them had I done so. It is a replay, but I think it might be instructive about how I think in these sorts of situations.

More...

Dear Volpri,

Wish you have a nice day!

in this video, the very first trade you went short. Can you five me more explanation the context and the basic for the short? All I can see is a strong bull 3 override the action of the last 3 bear bars => I will went long in the close of the bull bar.

volpri · Nov 28, 2024

Trader_as_a_job said:
Dear Volpri,

Wish you have a nice day!

in this video, the very first trade you went short. Can you five me more explanation the context and the basic for the short? All I can see is a strong bull 3 override the action of the last 3 bear bars => I will went long in the close of the bull bar.
More...

The trades took place on an overnight 24 hour chart. Two ways to draw the wedge top. Blue and Orange lines. Wedge tops are 3 pushes up. The expected move will then be down.

If I had been trading this off a RTHs (regular trading hours chart) I would have begun shorting at #3 and scaling in on the bar after that. No good FT (follow through) on bar after bull gap up opening bar. If this was going to continue up likely should have been followed by another good bar. To me it was hinting trying to close the opening gap which it almost did a few bars later.

SimpleMeLike · Nov 29, 2024

volpri said:
Here are some trades in the micro NQ (MNQ) I captured 107.25 points from 8:56 to 10:40.

I count a trade with no averaging in as 1 trade after entry and exit. If it is an averaged to down trade, I count the initial and succeeding entries and the exits as ONE Trade. If I started off with averaging down and the technique did not work and midstream I swap to the "whitling" technique, then I count each individual trades entry and exit as one trade. For example, from bar 9:54 to 10:40 I count each entry and exit as 1 trade so there are 6 entries and 6 exits during that time period. So altogether I count 14 trades this morning. All winners but we could say 2 were basically BE as the only made about 1 or 2 ticks profit each one.

I made three mistakes, and I explain those in the video. It is a bit of a long video but here it is if you wish to watch it.

More...

Hello Volpri,

Thank you for the video. I enjoyed it.

Overnight · Nov 29, 2024

volpri said:
I showed the technique in the last few videos with very small size assuming a small account. That doesn't have to be so. Any size can be traded. I showed it on MNQ trading 1c but one could chose to trade 20 ES contracts and each scale in (I meant to say each add on trade) an additional 20 contracts with no averaging down, doubling up or tripling up. The size depends on one's tolerance for risk and one's account size. I simply showed it on the smallest size in MNQ one could trade.

I watched the videos again. I want to clarify something I said near the end of the second video. I said, "no averaging down." I know it looks like it is averaging down but I do not consider it as averaging down.

In the first video when I say "I will add another contract" what I really mean in this method is I will enter a "new" trade and exit that trade with 6 points while I await the probing to eventually go back up to any previous positions that are still losing and I capture 6 points from them. At least that is the goal. So, when I refer to add on or scale in that is really not what I mean. I am so used to averaging down (and doing so with intent) that my brain defaulted to that lingo and my mouth obeyed!

Just look at it as a SERIES of Indvidual trades trying to scalp at least 6 points on each trade as the market moves sideways, down, or up. This is a way to trade on most every bar. With averaging down that is not so. The context has to support averaging down. And it will certainly be fewer times than this and not on every bar.

The method is a methodical way of capturing small profits on many bars (even the same bar multiple times or on consecutive bars) Most bars can render this type of trading regardless of the overall direction of the market if they, on average, are big even to render the PT of 1/2 the average size bar. ON MNQ trying to capture less than 6 points on each trade is generally not worth the effort when using this to trade 1c each time. If the average size bar is to small that 1/2 of its range is less than 6 points in the MNQ (or NQ) I probably would not use this method.

Those PTs in MES, if trading MES, would be different in terms of points. It would still be 1/2 the size of the average bar but points likely wouldn't be six points unless the average bar indicates that is a probable scenario.

Just thought I used clarify as I did not use the best lingo in the recorded video, and I do not want to confuse people over what I was aiming to do in this method.

So, see this method as EACH trade being an independent trade focused on capturing 6 points in this example. The intent is not averaging down nor doubling up nor tripling up. It is simply taking series of trades independently while holding others previous taken until they themselves render 6 points as the market heads back up because of market CONSTANT probing on EVERY bar. On smaller TFs that probing back and forth on one bar on a larger TF bar is actually usually a series of multi-bar probes on smaller TFs.

In the video those last three 1c trades I exited were held and went through big drawn down in that move down (paper loss) until the market probed back up deeply and took them out too with a profit near the end of the video. In other words, I didn't actually exit them until price probed way back up enough to give me a profit on them.

The same sort of thing can be done shorting on that down move. Just doing a series of short trades over and over as the market moves down. Some would say isn't that best? Well yes it could be but I wanted to show how one can go long in a sideways move, uptrend move and even in a down trend move all the while betting on probing back at least 6 points as on most all the bars the bars as the market moved and the bars printed.

One can also short in sideways downtrend..uptrend because of the constant probing. I do believe this is one PA technique that could possibly be made into an algo. I see most PA techniques as nigh impossible to program, but I could be wrong as I am not a programmer.
More...

Everyone is a genius in a bull market. You knew absolute SHIT in 2022.

volpri · Nov 29, 2024

Why would a trader not want to learn to trade wedge tops and wedge bottoms? Look in the first 95 min of trading the opportunities that present themselves. Then ask "how many minutes are in a RTHs session? The premise is that after a wedge top is formed that price will head south enough for scalp.

The premise is that after a wedge bottom is formed price will head north enough for a scalp.

The understanding is: sometimes wedge tops and bottoms can fail. When that happens look for a possible measured move from the top tip (if a wedge top) or bottom of the wedge (if wedge bottom) the height of the wedge extended up or down from top or bottom the same distance.

The basis for wedge tops and bottoms forming: It is a pattern left as pressure builds in the markets as institutions with and without algos are constantly probing to move price up or down to another level.

Basically, two main ways to trade it:

1) What I like to do is as price for a wedge top I look to short either aggressively with limit or near the top high area of any bar that is around the top of the wedges and do so with market or limit orders. Same thing but reverse for wedge bottoms. IF it moves a little against add on or average down waiting on a scalp back down to at least make money on the averaged down entry and BE or make money on the initial entry.

2) Use stop orders. At a wedge top as it is nearing 3 pushes up and it appears a wedge top is forming then I may start placing a sell stop order 1 tick below the low of the previous bar and keep doing this until I get a fill. If price keeps moving up I just keep doing this. Much of the time I will get filled soon after the wedge top. The reason for using stop sell orders is price will be moving in my favor before my order gets filled. In number 1 above I am taking a position with a limit or market sell order before price actually begins to move down. Reverse for wedge bottoms. Use stop orders 1 tick above the high of the previous bar and moving it on each succeeding bar (always 1 tick above high of previous bar until my order gets filled.

6 tradeable opportunities here. Say I win on 5 trades making at least 10 points a scalp in the NQ That comes to 50 points. Say I lose on 1 trade 10 points. I net 40 points X $20.00 point. $800.00 in a little over 90 mimutes trading what many consider to be noise.

volpri · Nov 29, 2024

Overnight said:
Everyone is a genius in a bull market. You knew absolute SHIT in 2022.
More...

Same thing applies in bear markets LOL. Samathing just in reverse and it has NOTHING to do with the long-term bull or bear markets. We are talking about 2m or 5m chart here LOL. It is not based on long term bull or bear markets. Get it? It is based on maybe the last 30 minutes or so and the market tendency to probe in that time period. 2022, 2023, 2024, and now soon coming up 2025. Same thing for 2025.

You come across as angry. Are you?