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Scalping ES, need help
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Scalping ES, need help

  #1 (permalink)
Fort Worth, TX
 
Trading Experience: Intermediate
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Scalping ES, need help

I am attempting to scalp the ES for 1 tick at a time. I am using YM as a correlation to ES. I don't use charts at all. I am only using Jigsaw DOMs of ES and YM side by side (John Grady style) with a time and sales of the ES. I am trying to not be like the typical retail trader so that's why I am not using charts or indicators. I am trying to trade what I see right NOW like I hear so many successful people talk about. I have journaled and figured out my biggest problem, but I don't know how to solve it. I keep getting the direction wrong in the immediate term. I see it's going up with volume, I go long, get filled, and then much more often than not, I get ran over for 2+ ticks if I can't get out in time. What can I add or do different to make it over the hump with the biggest problem area for me? I know the YM is a great correlation but it moving much faster than ES makes it very difficult for me to keep it all in perspective. I'm getting tired of seeing red, day after day.

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Last edited by ALC77; August 2nd, 2019 at 01:37 PM. Reason: .
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  #2 (permalink)
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  #3 (permalink)
Super Moderator
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ALC77 View Post
I am attempting to scalp the ES for 1 tick at a time. I am using YM as a correlation to ES. I don't use charts at all. I am only using Jigsaw DOMs of ES and YM side by side (John Grady style) with a time and sales of the ES. I am trying to not be like the typical retail trader so that's why I am not using charts or indicators. I am trying to trade what I see right NOW like I hear so many successful people talk about. I have journaled and figured out my biggest problem, but I don't know how to solve it. I keep getting the direction wrong in the immediate term. I see it's going up with volume, I go long, get filled, and then much more often than not, I get ran over for 2+ ticks if I can't get out in time. What can I add or do different to make it over the hump with the biggest problem area for me? I know the YM is a great correlation but it moving much faster than ES makes it very difficult for me to keep it all in perspective. I'm getting tired of seeing red, day after day.

Hi ALC77

Personally I don't have experience with scalping the ES so I can't offer practical help in that regard.


Having said that, you say that you have figured out your biggest problem, i.e. you keep getting the direction wrong.

You mention "I see it's going up with volume, I go long, get filled, and then much more often than not, I get ran over for 2+ ticks if I can't get out in time."

Would you be able to break this down in further detail? For instance, are there specific patterns that you are waiting for? What is it you think is happening before entering the trade? Are you trading specific levels, e.g. steps in the profile, or High/Low of the day, prior day's High/Low, etc.?

If you use Jigsaw, have you got in touch with Peter, asking for advice?

Have you tried emailing John Grady (I understand he's generally happy to respond to queries via email)?


I don't know if the next suggestion will help you at all but if you are looking for a way to analyze in greater detail the trades you are logging I have been developing something to that effect, here.

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  #4 (permalink)
Legendary Market Wizard
Dallas, TX
 
Trading Experience: Intermediate
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Favorite Futures: ES, MES, MNQ, MYM
 
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ALC77 View Post
I am attempting to scalp the ES for 1 tick at a time. I am using YM as a correlation to ES. I don't use charts at all. I am only using Jigsaw DOMs of ES and YM side by side (John Grady style) with a time and sales of the ES. I am trying to not be like the typical retail trader so that's why I am not using charts or indicators. I am trying to trade what I see right NOW like I hear so many successful people talk about. I have journaled and figured out my biggest problem, but I don't know how to solve it. I keep getting the direction wrong in the immediate term. I see it's going up with volume, I go long, get filled, and then much more often than not, I get ran over for 2+ ticks if I can't get out in time. What can I add or do different to make it over the hump with the biggest problem area for me? I know the YM is a great correlation but it moving much faster than ES makes it very difficult for me to keep it all in perspective. I'm getting tired of seeing red, day after day.

Hi ALC77
For one tick, you would be competing with ALGO and super fast, on the exchange computers. I don't think that is possible. No BS I believe works with Notes and Bonds mostly, which tend to be a bit slow to move.
Either way, good luck and if you do find a set up, please journal/post.

K

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  #5 (permalink)
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kareem40 View Post
Hi ALC77
For one tick, you would be competing with ALGO and super fast, on the exchange computers. I don't think that is possible. No BS I believe works with Notes and Bonds mostly, which tend to be a bit slow to move.
Either way, good luck and if you do find a set up, please journal/post.

K

@ALC77 a really good point by kareem40 which I forgot to mention: scalping for 1 tick when the downside is clearly more than 1 tick is not likely to get you far.

I know Jigsaw had a 1-tick drill although it was never an exercise intended to translate into a 1-tick profit methodology.

Have you gone through those drills by the way / would you like pointers for more scalping drills?

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  #6 (permalink)
Murrays Bay
 
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Scalp ES

ALC77 You will get murdered everytime as some people have already pointed out...this means you are hoping rather than trading something with proven method. You need more experience, tons more even though you feel you have done a lot already and you probably have !
lets open it up.
Why did you choose 1 tick scalps ? you thought you saw something ? be very careful...delusions are grand in this game. On paper there might be something with 30-50% win rate but can you really get in where exactly you want ? you are walking a very skinny tightrope...
Did you think you could be smart and risk only one tick and you wont go broke ? this is normal stuff so dont be put off by these questions, we nearly all go through it.

Drop the idea with 1 tick. Find the axioms of price and its structure. You havtn found any yet , unless im wrong.But method needs to be proven. You are proving this method does not work in fact. So well done. Now can you let go of it and start all over again or maybe use something and build upon it.

best of luck

John

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  #7 (permalink)
Fort Worth, TX
 
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xplorer View Post
@ALC77 a really good point by kareem40 which I forgot to mention: scalping for 1 tick when the downside is clearly more than 1 tick is not likely to get you far.

I know Jigsaw had a 1-tick drill although it was never an exercise intended to translate into a 1-tick profit methodology.

Have you gone through those drills by the way / would you like pointers for more scalping drills?

Yes, I'd like pointers for more scalping drills. I'm not stuck on 1 tick -- I'd love to be able to make more, but I've been led to believe that scalping is the quickest way to get profitable.

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  #8 (permalink)
Fort Worth, TX
 
Trading Experience: Intermediate
Platform: Jigsaw
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Favorite Futures: none
 
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JBWTrader View Post
ALC77 You will get murdered everytime as some people have already pointed out...this means you are hoping rather than trading something with proven method. You need more experience, tons more even though you feel you have done a lot already and you probably have !
lets open it up.
Why did you choose 1 tick scalps ? you thought you saw something ? be very careful...delusions are grand in this game. On paper there might be something with 30-50% win rate but can you really get in where exactly you want ? you are walking a very skinny tightrope...
Did you think you could be smart and risk only one tick and you wont go broke ? this is normal stuff so dont be put off by these questions, we nearly all go through it.

Drop the idea with 1 tick. Find the axioms of price and its structure. You havtn found any yet , unless im wrong.But method needs to be proven. You are proving this method does not work in fact. So well done. Now can you let go of it and start all over again or maybe use something and build upon it.

best of luck

John

Can you please clarify "find the axioms of price and its structure"? I don't really understand what that means or what you're trying to say. Can that be worded different somehow?

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  #9 (permalink)
Murrays Bay
 
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ALC77 View Post
Can you please clarify "find the axioms of price and its structure"? I don't really understand what that means or what you're trying to say. Can that be worded different somehow?


Have you done any higher Maths at Uni or come across Euclid's 5 axioms in geometry for eg ? well the axioms are fundamental building blocks. Same with price and to where it moves etc or not.

Best of luck

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  #10 (permalink)
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ALC77 View Post
Yes, I'd like pointers for more scalping drills.

Check these out

https://www.youtube.com/watch?v=j1Yhfk3QbjA
https://www.youtube.com/watch?v=xO81EeaTiGg
https://www.youtube.com/watch?v=33xxabW-e6Q
https://www.youtube.com/watch?v=JvWnulzyRsU

https://www.pricesquawk.com/prop-trading-drills-automated-trading/

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