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Long Or Short?
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Long Or Short?

  #1 (permalink)
Trading Apprentice
NY, NY
 
Futures Experience: Beginner
Platform: TradeStation
Favorite Futures: Emini ES
 
Posts: 12 since Apr 2015
Thanks: 6 given, 1 received

Long Or Short?

This may seem like a very naive question but it is one that I still struggle with.

I am trading the ES. I am constantly struggling with whether or not to try and find the turn, top or bottom, or to join the trend on a pullback.

What criteria do you use to determine if you should be looking to go short or long?

Thanks.

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  #2 (permalink)
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  #3 (permalink)
Site Administrator
Manta, Ecuador
 
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Big Mike's Avatar
 
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Seriously dude, just read the main ES SP500 thread:

https://futures.io/index-futures-trading/13452-es-s-p-500-futures-contract-sp500-spoo-nalysis.html

And read my journal:

https://futures.io/elite-trading-journals/1415-big-mikes-day-trading-method-advice.html

Between the two, you'll see non-stop real-time trade calling as well as reasons behind it from some consistently profitable traders.

Put a little effort into it. Your question is basically "how do I trade" and it's ridiculous.

Mike

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  #4 (permalink)
Elite Member
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mks212 View Post
This may seem like a very naive question but it is one that I still struggle with.

I am trading the ES. I am constantly struggling with whether or not to try and find the turn, top or bottom, or to join the trend on a pullback.

What criteria do you use to determine if you should be looking to go short or long?

Thanks.

These kind of questions make me question your Advanced trading experience on your profile.

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The following 3 users say Thank You to tturner86 for this post:
 
  #5 (permalink)
Trading for Profit
Kansas City, MO U.S.
 
Futures Experience: Intermediate
Platform: ToS, Ninja
Favorite Futures: ES, Currency, Tacos
 
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Wyckoff, The Law of Supply and Demand, and Auction Markets - Traders Laboratory - 15385

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  #6 (permalink)
Elite Member
Nashville TN/ USA
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
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tturner86 View Post
These kind of questions make me question your Advanced trading experience on your profile.

Lol, I just saw this. Yeah I think advanced may be a stretch.

With that said, we all start somewhere.

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  #7 (permalink)
Trading Apprentice
NY, NY
 
Futures Experience: Beginner
Platform: TradeStation
Favorite Futures: Emini ES
 
Posts: 12 since Apr 2015
Thanks: 6 given, 1 received


Big Mike View Post

Put a little effort into it. Your question is basically "how do I trade" and it's ridiculous.

Mike

Thank you for the link Mike, but I disagree. If my question was "how do I trade" that is what I would have written. I have been in a few different trading rooms and none of them agree on picking direction. Some say wait for a gap between the prior day close and the current day open and fade the gap. Others say go in the direction of the gap. Someone else says assume the price will go back towards the VPOC of the prior day. The guy next to him says the same, but uses VWAP of the overnight session.

In other trading rooms, the guy that runs it constantly tries to call the turn. He will lose 20 ES points trying to call a top and the market just grinds higher. He is right sometimes also, but his approach is always the same note. Another trading room wants to wait for pullbacks to enter and exit. Sometimes your pullback is really the beginning of the move in the other direction and you get hit with a quick stop. And when it works out and you are waiting for a pullback level to be breached for your exit, quite a bit of the profit is given back.

With my actual question, I was hoping to create a discussion around these and other approaches traders use to determine which direction to take.

With regards to tturner86's observation, I will assume you are asking me to clarify rather than something slightly less positive. My trading experience is in options trading butterflies and iron condors, trades in which the actual direction is not as important as the magnitude of a move and when it occurs.

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