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

  #21 (permalink)
Trading Apprentice
Austin, Texas/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 9 since May 2014
Thanks: 5 given, 7 received


Cloudy View Post
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".

Thank you! I appreciate your feedback.
I have Brooks PA trading program and I just bought PATS Price Action Trading and doing some SIM trades on that method. So far, so good. Of course, as I'm sure you know, there's much more to trading than just a method. Risk management is one and emotional management as well. Just trying to put it all together to stay on the positive side of my P&L! Thanks again for your help!

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  #22 (permalink)
Trading for Fun
Budapest+Hungary
 
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powerthin View Post
Thanks for the feedback. I'm not really looking for anyone to show me how to be profitable. I know the responsibility rests with me. I'm just trying to avoid a repeat of what happened with a method recently I purchased from a vendor for $1,500 and followed it exactly only to get stopped out 8 straight times in a row. I was lead to believe that the expectancy on this method was around the 60/70%+ win rate. Not so. At least not in my experience. My only intention was to seek out some people that are consistently profitable month after month and try to determine where they got their education so hopefully I could follow in their footsteps with a method that works a bit better than the one I described.
Thanks again for your feedback.

Hi poverthin,

I feel like you are me
Unfortunately, I can't say I'm profitable, I wiped out a couple of accounts, but I started to lose less. That's a start, I guess.. Anyway, hope my opinion helps:

I came up on this forum with the same problem as you, actually I wanted to find someone profitable. Many forumers said that I have to find the missing link in myself, instead of listening on somebody else. That is undoubtedly true, because everybody has to find his own unique style, which suits for him.

I paid for a trading system, started the testing with paper account. It went so well, I switched to my real account - and lost a great amount of money - thousands. On the same position - he records his positions for training purposes, so it's documented - my tutor made a few hundred bucks. He had the balls, I didn't. It vas the very same position!

I told the forumers I don't need anybody to say what should I do, but many didn't believe me. I am responsible for my trading decision, but I needed a PROOF. Aren't you looking for the proof that it can be done? This helped me: https://www.topsteptrader.com/learnmore#learnmore-combine-info

There are actual traders, who gets funded, for making 3.000 in 10 days from a 50k account. SO IT CAN BE DONE.
If they are doing it, I can! And so are you..

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  #23 (permalink)
Elite Member
hollywood
 
Futures Experience: Intermediate
Platform: thinkorswim
Broker/Data: TD
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lsubeano's Avatar
 
Posts: 194 since Jun 2010
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Yes...I trade es but prefer tf.
To me trading is trading...

What moves price? What is the structure of a market?

....and I'm assuming you're talking about day trading?
Who say u have to day trade es?

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  #24 (permalink)
Trading Apprentice
Austin, Texas/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 9 since May 2014
Thanks: 5 given, 7 received


lsubeano View Post
Yes...I trade es but prefer tf.
To me trading is trading...

What moves price? What is the structure of a market?

....and I'm assuming you're talking about day trading?
Who say u have to day trade es?

Thank you for your response!

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  #25 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received

How about you tell me:

1. What is your philosophy markets... how they operate, what causes moves, what can you know about them, etc?

2. What is your preferred hold time for a trade?

3. Tell me about your current best way you know how to trade. Do you have any "structure" to the market? Price action, orderflow, momentum, breakouts, mean reversion, etc, etc. What's the best way to trade that you currently know.

4. Please post your trade plan, as well as your risk management plan.

5. What have you been doing in terms of journaling? Are keeping stats on your trades?

6. What are your goals in trading? What do you want trading to be for you? Why?

Please write as detailed as you can for all of this, and then I will help you as best I can.

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  #26 (permalink)
Elite Member
Houston Texas
 
Futures Experience: Intermediate
Platform: NinjaTraer, TWA
Favorite Futures: ES, HSI
 
Posts: 10 since Jan 2013
Thanks: 1 given, 6 received

I'd agree that the items Indextrader has posted are key to getting somewhere with all this.

I had been playing around for many years with certain methods, but crucially not actually trying to trade 'live' very often (and by live I also include SIM trading). This was basically because I didn't want to be proven 'wrong' by the market, so would rather stare at a historical chart looking for patterns - it made me feel good.

I think the main point is to come up with (or be guided) as to what you think the main method of the market is. In my opinion the only thing that exists is areas of liquidity or illiquidity and you have to play those areas as best you can. For me that is using a Volume Ladder and a Market Profile chart for context and of course the DOM for current pressure. For me that's it. The rest is just getting in there putting on trades and being proven right or wrong over and over again - whereby you'll develop risk management etc. I think there has been a good bit of momentum behind the 'truth' of market workings lately, especially on this forum. (sorry I don't believe in most technical analysis).

My main problem with all that is coming to terms with the fact there is no 'safe' way to trade that will guarantee in X years I'll be a Millionaire. In fact I don't know if the methods I'm using will be successful in a month. Hopefully the longer I do this the more confidence I can create.

All the best.

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  #27 (permalink)
Elite Member
TUCSON, AZ/USA
 
Futures Experience: Advanced
Platform: NINJATRADER
Favorite Futures: ES
 
Posts: 11 since Mar 2014
Thanks: 1 given, 35 received

You can make money but it is not easy

I have been trading for over 20 years (part-time) swing trading stocks. I starting trading full-time 12 months ago and lost thousands before I got to the state of not losing money and now I am making money. I have made every mistake possible and until I conquered my emotions, I simply could not make money on a consistent basis. There is an evolution you must go through and it will be costly. However, you can reduce your stress by following the advice in this forum. As others have said, you will need to develop your own style that you have complete confidence in. My style is a mixture of Top Dog, Trade the Markets, Al Brooks, and various others. It works for me but it may not work for you.

One more thing, once you learn the basics of day trading futures, I would suggest you find participate in free chat rooms. The purpose is to observe "what not to do." These rooms are full of rookies losing money. I learned a lot from them.

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  #28 (permalink)
Trading for Fun
Buffalo, NY
 
Futures Experience: None
Platform: Python, Excel, R, Ninjatrader
Broker/Data: IB quandl
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Posts: 64 since Jul 2014
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My strategy has worked well that past year few years.
Buy and hold.
You buy ES and just don't sell it for awhile.

I'm pretty much done with that trade though and just long volatility.

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  #29 (permalink)
Elite Member
Melbourne, Victoria, Australia
 
Futures Experience: None
Platform: TWS, NinjaTrader
Broker/Data: numerous
Favorite Futures: index and currency futures, stocks, options, warrants
 
kickmic's Avatar
 
Posts: 265 since May 2011
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im a full time trader - started a journal to visually highlight the concepts i use - im in a diff time zone so i don't just trade the ES, however the way i approach the markets is the same across all instruments i trade, bar options https://futures.io/trading-journals/33567-land-vegemite-trading-journal-intraday.html#post442595

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  #30 (permalink)
Trading Apprentice
Singapore
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 2 since Oct 2014
Thanks: 0 given, 0 received



daddy View Post
Hi poverthin,

I feel like you are me
Unfortunately, I can't say I'm profitable, I wiped out a couple of accounts, but I started to lose less. That's a start, I guess.. Anyway, hope my opinion helps:


There are actual traders, who gets funded, for making 3.000 in 10 days from a 50k account. SO IT CAN BE DONE.
If they are doing it, I can! And so are you..

I couldn't agree more on this. ES is the best instrument for its liquidity. I like it so much just on that factor. I used to get funded, manage to get great days like $1k a day on just a cap of 5 lots and losing days of about $300. The only reason I get kicked out is that intraday trading is a MUST for them while for ES, it's just an instrument that you should jump in about once every 4-6 days. Now, I'm trading with my own money, and it's so much easier to trade.

Now, my winning to losing days ratio is so much better. Just trade some other instruments while monitoring ES, you'll know when is the time to enter the trade for ES.

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