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ES - Measure/Gauge Pullbacks
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ES - Measure/Gauge Pullbacks

  #1 (permalink)
Elite Member
Quebec, Canada
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sterling Pro, IB's tws
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ES - Measure/Gauge Pullbacks

Hello,

This is my first post in the forum, so be gentle ;p

I trade the ES with a method that uses a limit order the majority of the time to make entries.

I focus on pullbacks from a trend and will usually post a limit order where I figure the market
will likely pullback and then resume. It does work pretty well for me, but since I like to keep
my stops pretty tight, I do get whipped by 1-2 ticks often.

My question is : what would be your suggestions for indicators that could help measure/gauge
a pullback ?
If anything, I'm looking for an indicator or method that would help my precision in
order placement, so as to not get tick-whipped as often.

Thanks in advance and regards.


edit : If that is any help, I use tick charts.

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  #2 (permalink)
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  #3 (permalink)
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If the chart has a clear uptrend for instance, and then it start experiencing a pullback, I have found that a fibonacci retracement works best for me to delimit the important levels of support.

They key numbers that work best are the: 23.6% 38.2% 50% 61.8% and 76.4%

Successful people will do what unsuccessful people won't or can't do!
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  #4 (permalink)
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I'd like to express my opinion about using limit orders to enter on pull backs;

You don't always get filled on would-be winners, but you always get filled on losers.

I'd suggest using market orders or marketable limit orders when the market reaches your area of interest.

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krazyanyway View Post
Hello,

This is my first post in the forum, so be gentle ;p

I trade the ES with a method that uses a limit order the majority of the time to make entries.

I focus on pullbacks from a trend and will usually post a limit order where I figure the market
will likely pullback and then resume. It does work pretty well for me, but since I like to keep
my stops pretty tight, I do get whipped by 1-2 ticks often.

My question is : what would be your suggestions for indicators that could help measure/gauge
a pullback ?
If anything, I'm looking for an indicator or method that would help my precision in
order placement, so as to not get tick-whipped as often.

Thanks in advance and regards.


edit : If that is any help, I use tick charts.

Well if you get taken out by a tick or two often, just increase your stop by three ticks....
Aside from that I can't think of an indicator that could tell you anything and be reliable....maybe if you identify the areas that you want to trade from you could go down to a smaller tick chart and get in that way.

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  #6 (permalink)
Elite Member
Quebec, Canada
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sterling Pro, IB's tws
Broker/Data: IB, Kinetick, Wts
Favorite Futures: ES, Stocks, Options
 
Posts: 22 since Jun 2012
Thanks: 9 given, 13 received


kbit View Post
Well if you get taken out by a tick or two often, just increase your stop by three ticks....
Aside from that I can't think of an indicator that could tell you anything and be reliable....maybe if you identify the areas that you want to trade from you could go down to a smaller tick chart and get in that way.

Increasing stop size was definitely my first thought, but then it throws my R:R a bit because I can't magnify the target in the same way (that would completely change the expected outcome percentages). The more I think about this, it seems I'll need to go and backtest again with a different stop to see if it increases win% enough to warrant a larger stop.

I do use a smaller tick chart, but boy is that ever sneaky.

I also use fib retracements, but I always find myself wondering if there is an additional way to gauge the expected range of a pullback given the recent push.

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