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Is anyone successful trading the ES?
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Is anyone successful trading the ES?

  #11 (permalink)
Trading Apprentice
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Favorite Futures: ES
 
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Itchymoku View Post
If you got stopped out 8 straight times you're probably trying to apply a system to a market cycle that isn't conducive to your strategy. If you were to try and take a trend trading system and trade it on a ranging day you can expect to get stopped out over and over. Now sometimes you might see price break out of the range and take that as a cue but still get stopped out.

So then what's next? Where do you go from there? The understanding of the larger time frame and being good at finding days that are more likely to work in conjunction with what you're doing. Being able to read daily charts, volume, and the market as a whole.

Most scalpers usually know what longer term traders are doing and try to find confluence points to ride on the coat tails of. So it's always best to get an understand of larger time frames to aid your decision making process on shorter ones if you choose to take that route.

Thank you for your reply! That helps! Someone recommended a price action trading product and it goes in-depth on understanding the market as a whole. I'm diving into that so I can learn more about what I need to do to be successful.
Thank you again for your help!

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  #12 (permalink)
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powerthin View Post
Just wanted to hear some feedback from others out here that are successful trading the ES.
I've been trying for years and can't seem to find a method I either resonate with or can become
consistently profitable with. I've done all the psychology stuff with just about every top trading psychologist
out there so I'm thinking I'm just not getting something about trading to where I can be successful with it.
I stuck with one mentor for 5 years and never got successful. I went to another one that was a scalper and
didn't like scalping. I'd rather shoot for 2 -4 point targets that try to get 1/4 or 1/2 a tick.
I went to another mentor that shoots for 1 point targets and the method only seems to work about 1/2 the time
when you can get a signal to get on a trade. The majority of the time the market takes off and you're just sitting there watching it go without you. There's got to be a better way! I'd love to hear from anyone who is consistently successful and please share your mentor's info so I can do my due diligence and see if their method is a good fit.
Thank you for your help!

As a beginner, I have the same feeling as yours. But rather than seeking other methods / tutors / indicators..etc, I really agree with what Big Mike poitned out.

I read 2 of Al Brooks' price action books, beginning the third one, also bought his trading course video. But frankly speaking, I begin to lose rather than be profitable after learning all these stuff. Of course, it is not that price action trading is wrong, the problem is from myself.

After learning all new skills and tech to analyse the market and take trades, I have not digest them yet, but reading them makes me feel better. Like you have watched swimming books and videos, you seem to know how to swim, but actually not. When you jump into the water, you still drink some.

I'm not consitent profitable now, but I can manager to be even, and developing my own trading style~

Hope this would help!

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  #13 (permalink)
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powerthin View Post
Someone recommended a price action trading product and it goes in-depth on understanding the market as a whole

Please no. No more products or training etc.

Just read this thread front to back:

https://futures.io/elite-circle/11125-ask-any-trading-question.html

You will see your mistakes when reading everyone elses, and you'll see the suggestions to avoid them.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

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  #14 (permalink)
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ES can be traded successfully. It's biggest issue is intraday range is not that great. So must use a strat that does not need much range at least intraday.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #15 (permalink)
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tshunhu View Post
As a beginner, I have the same feeling as yours. But rather than seeking other methods / tutors / indicators..etc, I really agree with what Big Mike poitned out.

I read 2 of Al Brooks' price action books, beginning the third one, also bought his trading course video. But frankly speaking, I begin to lose rather than be profitable after learning all these stuff. Of course, it is not that price action trading is wrong, the problem is from myself.

After learning all new skills and tech to analyse the market and take trades, I have not digest them yet, but reading them makes me feel better. Like you have watched swimming books and videos, you seem to know how to swim, but actually not. When you jump into the water, you still drink some.

I'm not consitent profitable now, but I can manager to be even, and developing my own trading style~

Hope this would help!

Thank you!

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  #16 (permalink)
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powerthin View Post
Thank you for your reply! I suppose I stay with one instrument because I feel that if I haven't made money with it, I'll only spread out my focus monitoring multiple instruments thus possibly making my results even worse. But thanks!

That makes sense, but for the same token, if you had not made money yet trading ES, then maybe try something else completely. I personally think ES has changed a lot over the past 3-5 years and definitely more challenging to trade.

The notion that your results can become worse as a result of spreading out your focus would only be true if your focus, or lack of, is the thing that is adversely effecting your trading. If that is the case, then you pretty much answered your own question.

Learning how to trade is not easy because very few if any out there actually teach how to trade. Lots of methods, concepts, systems, analysis, etc. , but not much on how to actually put it all together and do it. Like Big Mike said, this is all you and something you will have to essentially learn and put together on your own............unless the rare event that a profitable vet is willing to take you under his wing and teach you it all, top to bottom.

If you can keep your wits about you while all others are losing theirs, and blaming you....The world will be yours and everything in it, what's more, you'll be a man, my son. - Kipling

Last edited by BTR411; September 11th, 2014 at 09:09 PM. Reason: typo
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  #17 (permalink)
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I think what I'm about to say can sound too much simplistic but that is the first thing and I guess the only thing I have been teached and it has been useful to me so I share.
First, trading is a job, I could say it takes more hours then any other job to make it right, and it doesn't matter if you make 1 trade a day or 100 you still have to dedicate full time at it. My day usually starts at 8 am and end at 6.pm. And still I dedicate another hour to analyze the market around 9 and 10 pm.
If you can't afford to do it, don't do.
Second give value to the money and start with little goals, 50$(average)/day are 10000$/year, try to do this at first and set a compatible daily stop loss(usually 3 days of a day profit). If the instrument you are trading is too volatile or too big to manage very little goals even with the lowest size possible then change instrument.

I just found these two advices has been useful to me and I still keep them well in mind. Nobody instead can tell you how and what to trade, it's totally up to you.

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  #18 (permalink)
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montanajtt View Post
I think what I'm about to say can sound too much simplistic but that is the first thing and I guess the only thing I have been teached and it has been useful to me so I share.
First, trading is a job, I could say it takes more hours then any other job to make it right, and it doesn't matter if you make 1 trade a day or 100 you still have to dedicate full time at it. My day usually starts at 8 am and end at 6.pm. And still I dedicate another hour to analyze the market around 9 and 10 pm.
If you can't afford to do it, don't do.
Second give value to the money and start with little goals, 50$(average)/day are 10000$/year, try to do this at first and set a compatible daily stop loss(usually 3 days of a day profit). If the instrument you are trading is too volatile or too big to manage very little goals even with the lowest size possible then change instrument.

I just found these two advices has been useful to me and I still keep them well in mind. Nobody instead can tell you how and what to trade, it's totally up to you.

Thank you for your advice!

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  #19 (permalink)
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One thing I think can be helpful to you OP. If you haven't already, learn to do trade management with whatever
method you are trading , even if it's just 50% coin flipping. Just learning and practicing trade management can help with whatever method you're using as you're learning to preserve profits and cut losers short. As always, trading is "losers' game". It's actually about losing the least that one gets into the competitive leagues.

Even though some have said no more methods. If you haven't learned price action, I suggest trying out Brook's PA videos. why? because even if you don't use any pa concepts later on in your trading, it's a good "101" background info to know about markets. it's like science 101 learning about "properties" and "elements" of the market. Most markets don't just look like a soundwave or an EKG for instance. Another good background info book is "Markets in Profile" by Dalton. so maybe something to look into if you're "taking a break from trading" and "regrouping".

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  #20 (permalink)
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BTR411 View Post
That makes sense, but for the same token, if you had not made money yet trading ES, then maybe try something else completely. I personally think ES has changed a lot over the past 3-5 years and definitely more challenging to trade.

............unless the rare event that a profitable vet is willing to take you under his wing and teach you it all, top to bottom.

Well put points. I used to to think CL and TF were supposed to be harder than the ES. Yet ES seems to be the hardest of them all. CNBC did report occasionally over the last 5 years that HFT and algo trading had started making their biggest inroads in the futures markets mainly on the ES over the other instruments. But one who can trade the ES well can also take advantage of the best liquidity.

There are a few threads/journals on futures.io (formerly BMT) that purport to be trading the ES "well". Whatever the controversy of sim or non-provable results.

re: "the rare event" "a mentor teaching it all" . agreed it happens, like lottery chances or being in the "family".

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