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Scalping ES with price action trading
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Scalping ES with price action trading

  #1 (permalink)
Trading Apprentice
San Jose
 
Futures Experience: Beginner
Platform: XTrader
Favorite Futures: ES
 
Posts: 13 since Aug 2011
Thanks: 0 given, 3 received

Scalping ES with price action trading

Hi,
I am a new member here. This is my first posting.
I have been testing this method for two weeks.
This is just a demo account in XTrader but I will trade with real money next Monday.
My style is to stay with the market almost all the time to try to catch a move either down or up in the short time.
The contract holding limit is 50 contracts at any one time.
I use the method of averaging out the entry points either short or long.

I am holding a full time job so I am only able to trade for about 2 1/2 -3 hours in the morning.
Here is the result.
I wonder anyone out there trading with the same style and I appreciate any comments about this method.


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Scalping ES with price action trading-es-922011-medium-.jpg   Scalping ES with price action trading-results-small-.jpg  
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  #2 (permalink)
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  #3 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
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I'm just a simplton but it seems like trading up to 50 lots at a time is a lot for a beginner aside from that I hope this thing works in the real world and not just on sim...seems like there would be a good possibility this would blow up in your face and if nothing else kill you on round trip costs. Like I say though I'm a discretionary simpleton and don't know much about your apparently automated robot thing. There is a thread around here on that stuff you could look into to kick around ideas. I do hope it works for you though, I'm not sniping you, I like to see everyone kick the markets butt.
Regards, Kbit

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  #4 (permalink)
Trading Apprentice
San Jose
 
Futures Experience: Beginner
Platform: XTrader
Favorite Futures: ES
 
Posts: 13 since Aug 2011
Thanks: 0 given, 3 received

I combined BB with std deviation of 2.5 ( I got this BB setup by viewing a thread on this forum ), the time and price based on the assumption that at a certain price movement in a certain time, the market will change direction, either retrace or bounced back. The real trading is very close to the testing and I will
I use 1 minute time frame.
I do not use any automated trading program. I just trade on the feel of the movement of ES market which is in nature volatile almost everyday. I try to use some indicators in the past but not-so-greate results.

Regards.

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  #5 (permalink)
Survivor
San Diego, CA
 
Futures Experience: Advanced
Platform: NT8
Broker/Data: NTB
Favorite Futures: ES, CL
 
gain247's Avatar
 
Posts: 134 since Apr 2010
Thanks: 125 given, 122 received


Southbay View Post
I combined BB with std deviation of 2.5 ( I got this BB setup by viewing a thread on this forum ), the time and price based on the assumption that at a certain price movement in a certain time, the market will change direction, either retrace or bounced back. The real trading is very close to the testing and I will
I use 1 minute time frame.
I do not use any automated trading program. I just trade on the feel of the movement of ES market which is in nature volatile almost everyday. I try to use some indicators in the past but not-so-greate results.

Regards.

Man, with all respect, how about sim trading for couple of weeks... I've been there, trust me.

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  #6 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
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bluemele's Avatar
 
Posts: 2,547 since Jun 2010
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Yes, trading live is good. When you have many months of being successfully consistent!

Others will disagree, but no reason to rush. Trading is a long-term profession, and if you don't think of it that way, then that is the first clue to stop clicking the mouse.

It is great you are doing 'something', but you $ might be less risky in a CD for a year until you have been consistent that long. You will thank us for that.

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  #7 (permalink)
Membership Temporarily Revoked
USA, Dallas
 
Futures Experience: None
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Favorite Futures: futures
 
Posts: 1 since Aug 2011
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gain247 View Post
Man, with all respect, how about sim trading for couple of weeks... I've been there, trust me.


I'd second that. I mean all due respect to, you got alot of entries on that chart, and that is just not realistic. 50 Contracts is not realistic. You may have the money for it, but I doubt you have the brain power to sustain something like 50 contracts and that many of entries. Try 1 contract, prove it first, before you set to kill it.

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  #8 (permalink)
Trading for Fun
Europe,Nomad
 
Futures Experience: Intermediate
Platform: Ninja,Jforex,MT4
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Two weeks not enough

Markets are now very volatility, you can find burning your account, if we see again similar behaviour like early august, and 2008. Start smaller number of car's if you really have to be in markets now.
Simulator trading, will only help you to get familiar with your trading platform.
Live trading is totally different, during august it was'nt easy to get filled price, what you want, price was changing so rapidly. If you try to get bid or ask, and if you place market order, it's allready far away when you get fill.
And also when daily ranges are so wide now and you have tested only two weeks, and if ranges go back to "normal", how your method and you work out. Go live, if you want't learn, but I think this is not best moment.
Maybe it's better wait when VIX is back to 23 level about or under average.

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  #9 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
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Big Mike's Avatar
 
Posts: 46,097 since Jun 2009
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First glance, this is a counter trend mean reversion type strategy. That's great when the market is ranging. When it is trending, you'll blow up your account.

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  #10 (permalink)
Membership Revoked
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Lornz's Avatar
 
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I can understand that you would want to start trading multiple contracts if you scale in/out, but why on earth would you want to start with 50?

I also can't understand why you would want to use time-based charts for such a trading style?

But I am not one to judge, each to his own...

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