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Help! need guidance on better entries for ES
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Created: by miguelhernandez Attachments:2

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Help! need guidance on better entries for ES

  #11 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,697 since Oct 2009
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You should post examples that show what you consider poor entries. Your charts should display both the time and price scales, the time of your entries (Chicago time), the price filled and the exit as well as your analysis. That's why so far you got only vague answers.

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  #12 (permalink)
Elite Member
Buenos Aires Argentina
 
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Maybe consider using some foot print, time and sales, and depth of market to hone your entries. After all, not all 1M candles are made equal.

Or, as the other poster suggested, maybe the issue is in risk management in selection of trades not the trade entries themselves, especially, if as you claim you are already profitable, then the entire risk metrics may be worth considering. For example, it looks like you were looking at the price extensions or Fibs, but if you took profits at those levels instead of holding for an entire new macro trend, then you left a sustainable amount of profit on the table, meaning maybe the issue is on the exits and not entries.

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  #13 (permalink)
Trading for Profit
Kansas City, MO U.S.
 
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Anagami View Post
If your entries are indeed very bad, then the opposite entries are by definition great.

Do the opposite.

That's not advice. Seems to me the OP is still just a little jittery around the trigger. Gotta let go of the idea of things being perfect. I wouldn't feel bad about getting in a little early or late. Almost no one hits reversals to the tick (I'm assuming OP trades S/R), and there isn't anyone who does it on every entry and exit.

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  #14 (permalink)
Trading Apprentice
Austin, Texas, United States
 
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Platform: NinjaTrader 8
Favorite Futures: Emini ES
 
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trendisyourfriend View Post
You should post examples that show what you consider poor entries. Your charts should display both the time and price scales, the time of your entries (Chicago time), the price filled and the exit as well as your analysis. That's why so far you got only vague answers.


Maybe i should use tick charts for my entries. I heard ticks chart give you better pulls backs and entries. What do you think?

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  #15 (permalink)
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miguelhernandez View Post
Maybe i should use tick charts for my entries. I heard ticks chart give you better pulls backs and entries. What do you think?

Don't make a live trade unless your really rich and if so please trade the NQ tomorrow (kidding).

Time, Tick, Range, Volume etc make sense sometimes and not others. Nature of that funny pseudo-fractal we call a living.

Post some charts so people can see. People will help in this forum but you may want to follow @trendisyourfriend 's advice.

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  #16 (permalink)
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Austin, Texas, United States
 
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Rory View Post
Don't make a live trade unless your really rich and if so please trade the NQ tomorrow (kidding).

Time, Tick, Range, Volume etc make sense sometimes and not others. Nature of that funny pseudo-fractal we call a living.

Post some charts so people can see. People will help in this forum but you may want to follow @trendisyourfriend 's advice.

Yeah i think tick charts are the way to go

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  #17 (permalink)
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miguelhernandez View Post
Yeah i think tick charts are the way to go

Stay out of the noise, faster tick charts e.g. 610, 233 whatever are fine for the US opening on the ES etc. however you would do better with a 5, 15 and 1 hour chart combo. If you are trying to make money now by focusing on scalping faster charts 30 sec- 1 min, faster tick) before you know anything (with respect) your in trouble. Watch a few webinars on the site for beginners.

5 min charts (preferable at Chicago time zone) will give most traders the best common reference to help you. My opinion.

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The following user says Thank You to Rory for this post:
 
  #18 (permalink)
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Austin, Texas, United States
 
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Rory View Post
Stay out of the noise, faster tick charts e.g. 610, 233 whatever are fine for the US opening on the ES etc. however you would do better with a 5, 15 and 1 hour chart combo. If you are trying to make money now by focusing on scalping faster charts 30 sec- 1 min, faster tick) before you know anything (with respect) your in trouble. Watch a few webinars on the site for beginners.

5 min charts (preferable at Chicago time zone) will give most traders the best common reference to help you. My opinion.

Thank you. I will definitely take your advise.

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  #19 (permalink)
Live Your Bliss
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miguelhernandez View Post
Maybe i should use tick charts for my entries. I heard ticks chart give you better pulls backs and entries. What do you think?

You'll keep chasing your tail til you realize that there is no technical Holy Grail that will unlock the market.

"...the degree to which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader." - Mark Douglas
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  #20 (permalink)
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Newcastle NSW Australia
 
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N00Soup4U's Avatar
 
Posts: 4 since Jan 2016
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Gday Mate,

Great trade pat yourself on the back.

I wouldnt worry too much about your entry. You actually made almost the extact trade i did. (My reasons to enter was a little different though.)

Just as long and your risk to reward is in balance and your % win is right you can take that trade every day.

Up to you but i would be looking more at your exit stratergies as seeing how much you can milk out the movement before you meet too much chop.

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