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My ES Scalping Strategy, 2+ pts/day
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My ES Scalping Strategy, 2+ pts/day

  #51 (permalink)
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Thursday AM video

Here is Thursday trades, not great for me but not a real bad day either...

Enjoy

2011-06-09_1812 - jwdixon's library

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  #52 (permalink)
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Thursday PM chart and 6E trade

video for the pm trades and 1 I got off on the 6E...

2011-06-09_1825 - jwdixon's library

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  #53 (permalink)
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Looking at that word doc you posted, do you still recommend looking for a 3 tic profit target trading the 1 contract set? And the goal is to have several trades on the day equaling 2ES points per day? Would you find it difficult to hit 2 points using 3 tic targets daily on that one lot?

If one were trading two lots, you would want to have 2 points per contract still correct?

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  #54 (permalink)
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forrestang View Post
Looking at that word doc you posted, do you still recommend looking for a 3 tic profit target trading the 1 contract set? And the goal is to have several trades on the day equaling 2ES points per day? Would you find it difficult to hit 2 points using 3 tic targets daily on that one lot?

If one were trading two lots, you would want to have 2 points per contract still correct?

Thats a hard question for me to answer with any authority.....as you can see from my charts and videos, that is where I carry my baggage in trading. I have found over time that for me....I like to exit most of my position where I think I can get get filled at on every trade.

If you look at the Renko chart I use for my trend chart....and look to see where I like to try and enter....all my little blue boxes....then look after your entry point, to the right....to get filled on a 3 tick profit you need at least 3 bars in your direction......

That adds up to about 6 ticks on the renko, maybe 1-2 more ....if you get a great fill and take 1 tick heat and need 3 ticks, it has to move another 1 tick....min 5 ticks movement......@ 3 bars on the Renko......if your fill was just a little early (more heat) you now need 4 bars in your direction to get filled on a 3 tick profit.....

So what it comes down to is, how many bars does the market move in your direction after you would have been filled.....Most if not All the time.....I think that is why I usually take 3 ticks for most of my trades, then I can relax and enjoy the trade, If I were better, catch a runner once in a while.

Nothing really tested more than my visual back test and time trading this market, with this SCALPING set up. So what I hope for is that the 6 tick runner gets filled, average about 4 ticks on that trade......wait, watch, strike and get 1 more win for my 2 points. Easier said then done, as of late for me, but when I can focus for even 1-2 hours....EVERY DAY its possible to get your goal, but when I fall short, its OK, when you get to the point that you know you can make money every day, its not as big a deal to me as it was before I came to that knowledge, if that make since?

WOW that was vary confusing...... and YES I try for 2 points per contract, close is good, I wont risk losing it all after being "up" any more, like today, take a loss, focus, the market JUST TOLD you something, and then just do what the market is telling you to do now.....

hope that helps

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  #55 (permalink)
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That all makes sense.

Specifically though, would you advise someone trading 2 contracts to trade them the same as they were trading 1 contract? Would you even recommend just trading 1 lot and looking for those 3 tics? Or would you think 2 lots would be the minimum to trade so that each one could be managed differently?

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  #56 (permalink)
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forrestang View Post
That all makes sense.

Specifically though, would you advise someone trading 2 contracts to trade them the same as they were trading 1 contract? Would you even recommend just trading 1 lot and looking for those 3 tics? Or would you think 2 lots would be the minimum to trade so that each one could be managed differently?

I would start with 1 until you feel comfortable with the setups......Next the biggest % jump in risk to your account is going from 1 to 2 contracts....so even with 2 contracts I think "I" would exit with 3 ticks, because the odds are in my favor for getting filled.....then at 3 contracts you are only adding 50% additional risk, so that is where I think it is easier to carry the "runner" contract. That's why I tend to exit .66 to .75 % of my contracts at only 3 ticks.

Please just dont let my whimpy method of trading force you to think you have to do it also......many others are better than me for holding trades...

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  #57 (permalink)
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Also I think if you look back.....you can see that "my best" trade that comes just about 30 min. after the open, almost every day, is the one that true runners will work the best, and also the trades after the too far too fast moves also runners would be the best if you can carry them....

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  #58 (permalink)
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jwdixon View Post
Ok the Renko chart shows the two trades, then I posted two 350 tick charts for detail, I did miss several other trades while working and driving, but that's the way it goes, I did have orders waiting but they did not get filled. The nice thing about the ES is you don't have to watch it all night and day to get your trades, if you have 20-30 minuets you can usually get a trade off.....

Quick question. From the charts you posted on 2June, just in fine tuning 'the eye,' to see these things..... Would you say the move up could be considered "Too Far, Too Fast?"

I don't know, but I think if I were watching that real-time, I might think of it the way you did, which was that it was NOT "Too Far Too Fast."

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forrestang View Post
Quick question. From the charts you posted on 2June, just in fine tuning 'the eye,' to see these things..... Would you say the move up could be considered "Too Far, Too Fast?"

I don't know, but I think if I were watching that real-time, I might think of it the way you did, which was that it was NOT "Too Far Too Fast."

Great question, hope this video helps....

2011-06-10_0951 - jwdixon's library

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Looking forward to video of today's action if you traded rollover.


EDIT-----
Grabbed one more long right near end of day.

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