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Very simple ES strategy that seems to work
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Very simple ES strategy that seems to work

  #81 (permalink)
Elite Member
Florida
 
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Favorite Futures: ES
 
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Big Mike View Post
@bobwest is far more patient than I when it comes to repeating everything, we are lucky to have him on the site.

Short version: The guy wants to scalp because he thinks scalping will minimize his loss. He can't afford to take "big" losers because he has no money.

Again, should not be trading futures to begin with. Anyone who scalps for this reason should not be trading futures. And likely shouldn't even be day trading. Not if your goal is to make money. If your goal is excitement, then sure, scalping futures is exciting. Swing trading equity ETF's on the other hand, with one trade every 2-3 days, is far more boring yet almost 100% guaranteed to be more profitable for those who currently scalp.

Swing trading a lower leverage product gives you the ability to:
(a) practice your analysis on a big enough time frame that it has time to either work, or not [scalping does not]
(b) set your stop/exit point far enough away to give the trade time to work [scalping does not]
(c) use smaller amounts of money, and risk smaller amounts per trade [futures does not]

Starting with futures is like starting with a Formula One car when you are 15 and learning how to drive.

Mike

I agree, but I think futures even thou is the more difficult, it still might provide best price action and room for method.

I am not trying to again solve consistent trading with indicators, but I wonder if this could provide an edge. Getting a significant amount of stocks, say ten to twenty, and creating a synthetic volume ladder based on a custom composite price, that way one can see the actual buy/sell pressure and market profiles of a significant amount of stocks, maybe even before its reflected on the index, maybe without some of the muted actions that happen on the ES.

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  #82 (permalink)
Elite Member
Calgary, Alberta
 
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marketvoyager View Post
I agree, but I think futures even thou is the more difficult, it still might provide best price action and room for method.

I am not trying to again solve consistent trading with indicators, but I wonder if this could provide an edge. Getting a significant amount of stocks, say ten to twenty, and creating a synthetic volume ladder based on a custom composite price, that way one can see the actual buy/sell pressure and market profiles of a significant amount of stocks, maybe even before its reflected on the index, maybe without some of the muted actions that happen on the ES.

I thought I would come back and just see where this thread went.

@marketvoyager - you are trying to run before you can walk. You are trying to walk before you can crawl. You are trying to crawl before you can roll over. You are trying to roll over before....you see where this is going right?

You are either a genius whom will figure what trading is all about in 3 months or you will fail in 3 and we will never hear from you again. I am sorry for being so harsh, but you are jumping all over the place.

Why don't you spend the next 6 months only swing trading SPY? Journal every day. Discuss with others. Get feedback. Improve.

Doing what you are doing, it seems you expecting to have a Eureka moment and find an edge that nobody else has. I just don't get it. The only thing I do get is that you want this trading thing to work, but my God, trading is the single most challenging thing I have ever done and it will be NO different for you.

Please take all the advice in this thread. Combined, the traders whom have taken the time to contribute to this thread have probably racked up hundreds of thousands of hours of screen time.

We know what we are talking about.

So moving forward. Swing trade SPY or a similar instrument and journal it. Please!

--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------
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  #83 (permalink)
Market Wizard
Sarasota FL
 
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marketvoyager View Post
Getting a significant amount of stocks, say ten to twenty, and creating a synthetic volume ladder based on a custom composite price ....

A synthetic volume ladder.

Yep, that's it.

Why couldn't we all see that?

I may be finally getting the joke. Not that I'm laughing. I took all this too seriously to laugh now, given all the time wasted.

And if it's not a joke, I'm not going to laugh either.

If I'm mistaken about anything I've written here, I will apologize at a later date, when there is some evidence of seriousness and good intentions. And I will be happy to be wrong then.

But I do think I'm done now.

Bob.

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  #84 (permalink)
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bobwest View Post
A synthetic volume ladder.

Yep, that's it.

Why couldn't we all see that?

I may be finally getting the joke. Not that I'm laughing. I took all this too seriously to laugh now, given all the time wasted.

And if it's not a joke, I'm not going to laugh either.

If I'm mistaken about anything I've written here, I will apologize at a later date, when there is some evidence of seriousness and good intentions. And I will be happy to be wrong then.

But I do think I'm done now.

Bob.

LOL! I think a lot of people must be done now. Hence a few posts back when I mentioned that I thought we were being trolled.

Who knows. I am out of this thread now. I am done.

--------------------------------------------------------
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--------------------------------------------------------
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  #85 (permalink)
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bobwest View Post
A synthetic volume ladder.

Yep, that's it.

Why couldn't we all see that?

I may be finally getting the joke. Not that I'm laughing. I took all this too seriously to laugh now, given all the time wasted.

And if it's not a joke, I'm not going to laugh either.

If I'm mistaken about anything I've written here, I will apologize at a later date, when there is some evidence of seriousness and good intentions. And I will be happy to be wrong then.

But I do think I'm done now.

Bob.

What I mean is having a volume ladder or delta of underlying stocks, no "synthetic" ladder. ES might be ambiguous at times but stocks might not.

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  #86 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES
 
Posts: 3,632 since Jan 2013
Thanks: 26,740 given, 11,106 received
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marketvoyager View Post
What I mean is having a volume ladder or delta of underlying stocks, no "synthetic" ladder. ES might be ambiguous at times but stocks might not.

Yes, it was clear what you meant.

I guess that if I'm going to be signing off this thread, I should be more clear as well.

I am not certain if you are actually serious about all this stuff that you come up with, or if you are just stringing us along. That second possibility is what I meant about "the joke," and, frankly, it is a fairly reasonable possibility at this point.

If you are not, and if you really mean all of the stuff you write, then my question is simply, what part of "Stop coming up with so much weird new shit and just focus on something that works for you" did you not understand? Because the idea of a composite volume ladder of a group of stocks qualifies as another wild idea that you are jumping to, instead of just learning about something that is there in front of you. Or instead of learning something about yourself. Or something about how trading is really done. Or anything at all.

There is despair in realizing that someone just isn't listening, and isn't going to listen, and perhaps hasn't noticed that there is something being said to listen to.

There is nothing wrong with trying new ideas, in fact you have to, but that seems to be all you ever do. Try staying with one thing or group of things for a month or two and finding out how it actually works, instead of hopping to another great new shiny thing every day or two.

Well, that's going to be my last suggestion, and I am sure it will turn out to be another thing that will simply be ignored. I really can't have a problem with that, since I understand that everyone has to find their own way. Your way just is very -- how can I put it? -- let's say, roundabout. Or perhaps, flighty.

My way now is to stop spending time unproductively telling you to stop it.

So we can both pursue our own paths now. I'll be happy if I find out you've finally settled in and worked on something and made a success of it someday, after all. And, frankly, surprised.

Bob.

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  #87 (permalink)
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bobwest View Post
Yes, it was clear what you meant.

I guess that if I'm going to be signing off this thread, I should be more clear as well.

I am not certain if you are actually serious about all this stuff that you come up with, or if you are just stringing us along. That second possibility is what I meant about "the joke," and, frankly, it is a fairly reasonable possibility at this point.

If you are not, and if you really mean all of the stuff you write, then my question is simply, what part of "Stop coming up with so much weird new shit and just focus on something that works for you" did you not understand? Because the idea of a composite volume ladder of a group of stocks qualifies as another wild idea that you are jumping to, instead of just learning about something that is there in front of you. Or instead of learning something about yourself. Or something about how trading is really done. Or anything at all.

There is despair in realizing that someone just isn't listening, and isn't going to listen, and perhaps hasn't noticed that there is something being said to listen to.

There is nothing wrong with trying new ideas, in fact you have to, but that seems to be all you ever do. Try staying with one thing or group of things for a month or two and finding out how it actually works, instead of hopping to another great new shiny thing every day or two.

Well, that's going to be my last suggestion, and I am sure it will turn out to be another thing that will simply be ignored. I really can't have a problem with that, since I understand that everyone has to find their own way. Your way just is very -- how can I put it? -- let's say, roundabout. Or perhaps, flighty.

My way now is to stop spending time unproductively telling you to stop it.

So we can both pursue our own paths now. I'll be happy if I find out you've finally settled in and worked on something and made a success of it someday, after all. And, frankly, surprised.

Bob.

Ok, I will try my best to surprise you and myself. I got quite a bit of basic book learning to do on trading, from price action, to psychology, to risk management, to volume profile. I do get it now, I probably already have something that can work well in terms of charting, now its all about me, and I think that is the hardest part, but with some learning and behavior changes, I think I could have a chance. I did make good trades some days when my mental performance was better, and usually get around 55-60% trades on profit, but my losers tend to be larger sometimes etc. Anyways, thanks for your efforts and sorry for all the frustrations. I hope you keep doing a great job here and in trading. Thanks.

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  #88 (permalink)
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marketvoyager View Post
Here is another example of a good TMV SPX day, 21.50 points if the rules where strictly followed. TMV SPX strategy for Friday, October 23, 2015 - tradevoyager's library

There are 16 trades on that chart, not a single looser. Trades on the chart looks fantasti but they are not achievable in live trading for several reasons.

You havent defined the stop. Chart shows 17.5 points in 16 trades which is about 4 ticks profit/trade average. To make 4 tick average profitable, you stop should be 3 ticks or lower. With that small stop, chances are, you would be stopped out each and every trade. Instead of 17.5 point profit, you would be posting 14-15 point loss.

To be a consistent winner, never enter a trade unless the stop and target are identified.

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  #89 (permalink)
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marketvoyager View Post
I do get it now

No, you don't. You really, really don't. You are so far from getting it, that there is literally no hope. I am basing this on observing you, and again I will say the absolute best advice that anyone can give you is to quit now and forget about trading.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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  #90 (permalink)
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@marketvoyager how much money are you funding your account with? And how much per month do you expect to earn from that?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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