EOD DAY 2: (All results are based on 1 contract /per trade) Net Profit = -$189.20 (Includes commissions) Net Profit (running) = +$140.80 Total Points Today = -0.5 Total Points (running) = +4.0 You learn something new everyday. Yes the ER2 can move 21 pts from the bottom. oz
The ER2 used to move like this all the time. About a year and half ago I switched to it and this is what it moved like---ALL the time. It would have a 1000++--1500---range every day.
I hope you did well TGM cuz I got run over near the end. I predicted that we would trend the second half of the day, but in no way did I expect a 22 point run up. After a certain point my mind kept thinking short. Anyways, looks like I need to do quite a bit of thinking. Very dissapointed with my results. I should have gotten 10+ points today minimum. I guess I'm not there yet.
you will get in the swing of things. if you are used to trading a slower product like the ES---take your time. The ER2 will always give you a morning move to get in on (like the 10:00 est. turn etc)
Midday update: Not bad so far, up +4.3. Made a cpl mistakes which cost me a cpl points. Playing very conservative today. Only playing off key levels. ozz
EOD DAY 3: Today was a dissapointing day, considering what I was up at one point. Things happened but I'm not gonna make excuses, its part of the game. Here are the results: Net Points = +3.0 points Net Profit = $151.20 Total Points (running) = +7.0 Total Profit (running) = $292.0 On my real trades I rocked the market. Feeling very confident trading the ER2, when I'm on, I feel should be making minimum 5-7 points /day. Peace and Good night.
Good JOB! Hang in there. They are moving good and fast. By the way, if you can pull the trigger quickly. Try out your goods on the Ensign/IB 75 tick charts (-75) ----you may find them smoother. I moved to them from 1-2 minute charts. Just a suggestion ---dont want to mess you up.
Thanks TGM for the advice. I've been thinking about using TICK charts for some time now. I think I might be able to make some room for it in my workspace.
I am used to using expensive charting packages. I opened an IB account for stocks and Asian futures and started using Ensign for charting. Everyday ---I like it more and more. I got rid of CQG. One thing I have come to like is the damn 'auto-trendlines' in Ensign. I have never in my life used something like those. But they work well. play with them over the weekend. The damn software draws trendlines better than me. (try 1.5 min size and 6 bars for minute charts, 0 min size and 7-9 for anything else). You will be shocked at how well they work. I spend NOTHING on quotes these days. By the way, when you pull up my chart, those are my proprietary 3/10 buy and sell signals at the top and the the little dots are the corresponding alert signals above the bars. It is a pure momentum deal. Also that snake like thing at the bottom basically mimics the Slowline (16 avg of the Macd) into an overbought/oversold indicator. You will find Ensign makes anything programmable possible.
I use them instead of the 1 min these days. I try to keep it simple. So I use the 75 tick and 60 min chart to see the big picture. Sometimes I look at a 5 min or 384 tick chart as well. Less is better for me. I trade a handful of markets and feel scattered with too many timeframes.