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Trailing stop for scalping ES - Where?
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Trailing stop for scalping ES - Where?

  #1 (permalink)
Brisbane, Australia
 
 
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Trailing stop for scalping ES - Where?

I intend to scalp the ES with a trailing stop which will also be the target, most times. Considering volatility how many ticks away should I set it? currently it's at -3 ticks, this may or may not be ideal, not sure.

I kind of think it's either 3 or 4. but open to ideas.

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  #2 (permalink)
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  #3 (permalink)
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Revan View Post
I intend to scalp the ES with a trailing stop which will also be the target, most times. Considering volatility how many ticks away should I set it? currently it's at -3 ticks, this may or may not be ideal, not sure.

I kind of think it's either 3 or 4. but open to ideas.

The only way to find out is backtest and forward testing.
Also, like you said it will depend on volatility, during fast moving markets, like in February this year, 3-4 ticks wont be enough.

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  #4 (permalink)
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Revan View Post
I kind of think it's either 3 or 4. but open to ideas.

As was said, backtest to see if you have an edge.

I think you will find that 4 ticks with as a stop and a target is insanity but that is JMO.

1. Think about this, how will you move the stop?

2. After entry, you are already at a one tick disadvantage.
(i.e. buy on the ask, and bid is at least one tick lower)

3. Using a 4 tick stop, ES will need to move 4 ticks away before you are at break-even.
Do you exit then or wait for it to move 8 ticks away and retrace?

No matter what the volatility, the ES rhythm can easily move 4 ticks and retrace 4 ticks and take your stop out.
Trailing stops sound good but usually are only protection not targets.

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  #5 (permalink)
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Revan View Post
I intend to scalp the ES with a trailing stop which will also be the target, most times. Considering volatility how many ticks away should I set it? currently it's at -3 ticks, this may or may not be ideal, not sure.

I kind of think it's either 3 or 4. but open to ideas.

My suggestion is to just try it (in simulation,) and see if it works.

My expectation is that ES will simply rip your head off with tiny little stops like that. But you will have to see for yourself.

But, by all means, actually try out these strategy ideas in the market (again: in SIM -- don't risk money yet).


DavidHP View Post
No matter what the volatility, the ES rhythm can easily move 4 ticks and retrace 4 ticks and take your stop out.
Trailing stops sound good but usually are only protection not targets.

FWIW

Do 20 or 30 trades (in SIM) and see how they work. Then change anything that didn't work, and keep what did. These don't have to be hypothetical questions. They can easily be tested, and then you'll know.

Bob.

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  #6 (permalink)
Brisbane, Australia
 
 
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Yeah I will be sim trading the ES alongside the ZB this week as there is not much volatility as of late in treasuries, it's also rollover week, we shall see.

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