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Trade Management for ES


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Trade Management for ES

  #1 (permalink)
Tarzana, CA
 
 
Posts: 22 since Dec 2016
Thanks: 3 given, 1 received

Trade Management for ES

Please help. I day-trade ES. I was wondering what people's trade management was? What is their R:R? How many trades per day? Etc.

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  #3 (permalink)
Europe
 
Experience: Advanced
Platform: TradeNavigator, BookMap
Trading: ES, CL, 6E, 6B
 
Posts: 350 since Jan 2017
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How many trades per day? Do you really think a serious trader knows in advance how many trades?

I trade the ES with 20 ticks PT and 10 ticks SL, if it moves 5 ticks in my favour my stop goes to -5 ticks, if it moves very fast to my PT I cancel the PT and trail the SL.

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  #4 (permalink)
Tarzana, CA
 
 
Posts: 22 since Dec 2016
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Thank you so much for this answer.

Anyone else?

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  #5 (permalink)
Agoura Hills, CA USA
 
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YGRYGR View Post
Thank you so much for this answer.



Anyone else?



I would hold them overnight for bigger profits. Regardless of the R:R profile, by closing EOD you are limiting the size of your profits significantly. Take a look at the ATR of the open session, and then compare it to the overnight session to see where the moves are. The big bucks are made holding your contract overnight or even a couple of days.

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  #6 (permalink)
St. Louis
 
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YGRYGR View Post
I was wondering what people's trade management was? What is their R:R? How many trades per day?

You'll have to find that for yourself.

This is the process that works for me:

1. Find a simple pattern that repeats.
2. Start collecting The MAE/MFE every time you see it set up.
3. Use the above data to find risk/reward and make a plan every time it sets up. Find the plan's W/L rate.
4. Use the above data to find the plans' avg expectancy.
5. If the expectancy is suitably net positive, then begin executing plans that conform to this process.
6. Continue steps 2 thru 4 in order to adjust the plan as conditions expand and contract.

Re daily trade count: devote a column on your P/L to a find a what-if P/L. Exclude a day's P/L from the running what-if total when the day's trade count exceeds X. My what-if P/L is highest, and higher than my actual P/L when X is set to 7.

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  #7 (permalink)
Tarzana, CA
 
 
Posts: 22 since Dec 2016
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tr8er View Post
How many trades per day? Do you really think a serious trader knows in advance how many trades?

I trade the ES with 20 ticks PT and 10 ticks SL, if it moves 5 ticks in my favour my stop goes to -5 ticks, if it moves very fast to my PT I cancel the PT and trail the SL.

How do you trail it i.e. what are the parameters of the trail?

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  #8 (permalink)
Europe
 
Experience: Advanced
Platform: TradeNavigator, BookMap
Trading: ES, CL, 6E, 6B
 
Posts: 350 since Jan 2017
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It all depends on the speed

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  #9 (permalink)
Australia
 
 
Posts: 49 since Oct 2015

It's not possible to make a call on that.

There are many different factors that play into it.

E.g. scalper/intraday trader/swing trader/position trader etc.

All these are very different in terms of R/R, money/risk management and trade management (those are all different things).

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