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Help! need guidance on better entries for ES


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Help! need guidance on better entries for ES

  #21 (permalink)
flashman
Springfield MA
 
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Losses are part of trading. When I would switch to live trades and those losses equal real money, that influenced the execution of my plan (my edge) and that's where I would get in trouble. Once I adequately funded my trading account the losses became less of a concern, no longer preventing me from taking the next trade. My account has continued to grow.

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  #22 (permalink)
 
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 Blash 
Chicago, IL
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miguelhernandez View Post
yes i have a trade that i can use an as example and yes this is the ES. i looked at my 1 minute entry chart to confirm the trade and as soon i get the conformation i either sell or buy market. In the following example i sold the market after getting the conformation from my one minute chart. I use thinkorswim platform for the entries and ninjatrader to execute my trade. my reasong for my trade was my view on the market as it was going down after hitting a retracement. It was a winning a trade.


lemons View Post
I would say it was good entry.
Shorting lower high below the middle band.
How much better you want to get it

As you said you are profitable trader, your system works and you trade with trend.

What I have read is losses are part of trading.
And losses will be part of your trading, accept them.
You can't eliminate all your losses.

You have a loss, you want to improve, you add filter.
You have a loss again, you want to improve, you add filter.
...

How far you want to go ?


MacroNinja View Post
Maybe consider using some foot print, time and sales, and depth of market to hone your entries. After all, not all 1M candles are made equal.

Or, as the other poster suggested, maybe the issue is in risk management in selection of trades not the trade entries themselves, especially, if as you claim you are already profitable, then the entire risk metrics may be worth considering. For example, it looks like you were looking at the price extensions or Fibs, but if you took profits at those levels instead of holding for an entire new macro trend, then you left a sustainable amount of profit on the table, meaning maybe the issue is on the exits and not entries.

I think 1 min charts are great for the TICK. The shorter the time frame the less predictable IHMO. Plus with time based bars you can't really get a great feel for the speed of the market as you can with say volume bars, big ones. Exits are definitely the hard part. Anybody can have a winning trade heck a whole series of them. Its a random distribution of wins and loses. Completely impossible to predict the sequence of them. But very few can have winning trades consistently. So I would ask this question and not be to concerned with the entry, it basically one of the easiest parts: What is your risk management, risk mitigation plan, risk strategy. How much of your acct do you risk percentage wise to see if your trade will work? Does this fit with the most professionally traded instrument in the world, ES. Is it just to sexy to not trade it? What percentage of time does your trade ideas work. Probabilities on them like from Excel or something similar. You can use these free Rainbow tools to pull chart data to the clipboard and then pop it into Excel and crunch. Do you seek to place a stop behind some market structure or just a set number of tick from entry? In the pic you posted it seems to me you were getting in late in the down trend and I know all to well its from hesitation. How do you come up with trade location, your areas to conduct business in? Trading errors are the single biggest issue on the road to consistency. Flawless executions (this assumes all other homework type stuff is well done) is the best we can do as traders. This is all IMHO......

Ron

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  #23 (permalink)
 
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 forgiven 
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you are using a moving average with vol. bands// filter ... you could turn own your floor pivots indicator an use the center pivot as a bias line... price under pivot short trades only ,,,price above ,,longs only you could also use your bands as a squeeze indicator if you know how...and take vol. brake outs// hope it helps

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