TF & ES short term

Discussion in 'Journals' started by indextrader7, Apr 13, 2012.

  1. I know a couple traders on here and myself as well gauge performance based on percentage of total daily points/ticks taken.

    For instance in CL , using a min of 40 pts per swing to define a swing, you would measure what percentage of the total daily points taken were . .... per contract

    For instance if there were 1000 pts offered that day with 14 swings and avg swing being 71 pts ...

    experts take 40%-75% of daily points offered per contract
    really good 25-40%
    good 10-25%

    just another way of looking at performance.
     
    #21     Apr 14, 2012
  2. Just so we're all on the same page. I'm referring to ticks as the smallest incremental movement of any market.

    I'm not talking about looking at 1minute charts vs 1tick charts. A 5 tick move is the same on any chart you look at.
     
    #22     Apr 14, 2012
  3. That is a very valid measure of performance.

    I can see how it would cause problems for my emotional balance though! I would over-trade because I wanted to be a part of every swing of the market.

    I think this is key. Regardless of how anyone measures performance, make sure it's the best thing YOU can measure to make you perform best, be emotionally stable, and in the very best mindset for YOUR personality.

    Good stuff guys, keep it coming.
     
    #23     Apr 14, 2012
  4. toucan

    toucan

    Indextrader...

    Thanks for starting a good thread. A couple of questions:

    1. is that tradestation you are using?

    2. are the s/r lines you show standard daily pivots

    3. if the s/r lines are pivots, then are they calculated using a 24 hours or just usa open hours

    4. i assume your trades are not automated and your entries are based on your review of the chart in real time... do you add contracts if the trade is profitable as well as if the trade goes against you.

    5. do you use targets for exits or are exits based on your review of the chart in real time

    cheers

    toucan
     
    #24     Apr 14, 2012
  5. Handle123

    Handle123

    This past week I had 27.9% one tick winners, 65.2% of 2-12 tick winners and 6.9% losers from 1-6 ticks. Even though I had many one tick trades, cause of the averaging down, this becomes huge profitable trades over all.
    I don't double up as you think but if I went long 20 @ 1372.50, 20 @ 1372.25, 20 @ 1372.00 etc to a total of 13 levels, this including original signal entry, and exited all at or within one tick of plus one tick of original which would be 1372.75, it is good money trade on a one tick trade. Had one trade this past week where I got out of last position placed of 12 ticks.

    Now of course, there are times when I lose AND it is first thing in morning and have not reach my daily goal of 2-4.00pts on ES based on one lots, volume I trade will be staggering loss, but always made up in a few days if it is just one loss. The only reason I can trade this way is cause of all the backtesting of ten years and trading of two years, knowing inside and out what the method performs as far as drawdowns, losses in a row and my emotional state of mind. All the losses I had this week were due to reverses, so losses were minimal. And after I reach my daily goal, I cut back size 80%. The hours I normally trade are first 30 minutes of day session and last two hours, and testing based on this shows only three losses in a row max, so to a degree, on third trade, I do double up size on each level, but never more than that.

    I concentrate on dollars but always based on one lot on the original entry signal, the add-ons stats are seperate and monitored weekly.

    I don't use protective stops at all, my testing of ES has proven to me for the way I trade, not to use them. I don't alter contract size, it is always the same till I reach my goal and always the same after. Has nothing to do with acct equity, more like how much I can stomach.

    I know I can get more bang for the buck in Crude oil, but I am married to the ES as all my experience since 1985 is in this market starting with full contract of S&P500. I have been on wrong side of HFT in Crude oil and my heart skips beats, LOL.

    I think those who can trade Russell well probably could trade Crude oil well as they seem to have same movements, but Crude oil has much more truer sense of Support/resistance at horizontal levels and less of angled trendlines on 60 minute charts of both of 24 hour and day session, also much less of retracements back to a trendline on five minute charts, punches thru and doesn't come back, whereas ES is a sloppy market and is much more easier to get out of a trade that stagnates.
     
    #25     Apr 14, 2012
  6. dv4632

    dv4632

    This could be an interesting journal, looking forward to seeing how it progresses.
     
    #26     Apr 15, 2012
  7. Thanks for bringing questions/comments to the thread that are exactly what it should be about. Not arguing over what a good trader takes out of CL daily.

    I would very much appreciate arguments that don't relate to the thread to be kept to PM's.
     
    #27     Apr 15, 2012
  8. wrbtrader

    wrbtrader

    indextrader7,

    Discretionary trading of Emini TF and Emini ES futures within a rule-base (objective) trading plan...

    I like it.
     
    #28     Apr 15, 2012
  9. toucan

    toucan

    indextrader7...

    Thanks for the reply.

    I use tradestation, daily pivots on 24 hour tick charts, enter once and have 2 profit targets, never add contracts and am semi automated.


    I look forward to your thread.


    cheers

    toucan
     
    #29     Apr 15, 2012
  10. + 1

    Awesome thread. Already better than most on ET.

    Best of luck indextrader7.

    I am also focused on ES and TF, though predominately ES.
    (some ETFs on the side for longer term hold).
     
    #30     Apr 16, 2012