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Being slow to take profits
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Being slow to take profits

  #1 (permalink)
Member
Vancouver, Canada
 
Futures Experience: Intermediate
Platform: QuoteTracker
Broker/Data: Interactive Brokers
Favorite Futures: ES, 6E
 
Posts: 31 since Mar 2010
Thanks: 5 given, 27 received

Being slow to take profits

Does any one have some specific techniques for managing an already profitable ES daytrade to maximize profits? The restriction here is that we are talking about All-In-All-Out trade, or just a single lot trade.

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  #2 (permalink)
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  #3 (permalink)
Elite Member
Near the BEuTiFULL Horse Shoe
 
Futures Experience: Beginner
Platform: NinjaTrader
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Why are you restricting the question just to ES ??

TJ

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  #4 (permalink)
Elite Member
Toronto
 
Futures Experience: Intermediate
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ES has been hard to trade these days , trend days are getting very rare , the best way to trade it is to scalp it , you need 6 ticks to make 4 ticks profits , look at the 5 min chart and look how many 6 ticks opportunities / day , and you will get a better idea on the odds of making a decent scalp or having a runner .
I hope it helps
Just my 2 cents
Soumi

"Risk more than others think safe.
Dream more than others think practical.
Expect more than others think possible.
Care more than others think wise"
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  #5 (permalink)
Elite Member
Near the BEuTiFULL Horse Shoe
 
Futures Experience: Beginner
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Posts: 500 since Jul 2009
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So, why trade ES then ... lots of other opportunities available ... that was the basis for my question to you .... happy trades!

TJ

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  #6 (permalink)
 Vendor: www.tradersforce.com 
Dallas,tx
 
Futures Experience: Advanced
Platform: Market Delta
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FT99

use trend lines on small time frame like 1Min 512T etc...
this will help you to stay in the trend until its reverse

Ben

Keep on sowing your seed, for you never know which will grow -- perhaps it all will.

-- Albert Einstein
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  #7 (permalink)
Elite Member
Dallas,TX
 
Futures Experience: Intermediate
Platform: NinjaTrader, OpenQuant
Broker/Data: Zaner/Zen Fire
Favorite Futures: ES,6E,6B,GC,CL
 
Posts: 590 since Nov 2009
Thanks: 176 given, 116 received

TJ - I have been sticking to ES or even NQ in the beginning as I could afford its SL and profit. like 6-10 ticks

Though I like 6E, CL, GC, they are all beast and can go for 25-50 ticks in matter of minutes, so SL has higher chances

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  #8 (permalink)
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St. Petersburg, Fl
 
Futures Experience: Intermediate
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Posts: 176 since Apr 2010
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Hello, In the beginning I only traded ES because it was what everyone else traded. It became frustrating due to its narrow trading range and found myself forcing trades. I found that TF has many more price swings and offers more opportuniies. On Friday it had a 23 point range, 230 ticks, $2300 dollars. Why hit your head against he wall everyday, trade an instrument that offers more opportunity. The defination of insanity is doing the same the the same way and expecting a different result

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  #9 (permalink)
Elite Member
Dallas,TX
 
Futures Experience: Intermediate
Platform: NinjaTrader, OpenQuant
Broker/Data: Zaner/Zen Fire
Favorite Futures: ES,6E,6B,GC,CL
 
Posts: 590 since Nov 2009
Thanks: 176 given, 116 received

Ollie - have to disagree with you. TF just follows ES , more than 95% of the time. as I watch both charts. In Range charts, there may be very little difference, but tell me how many times, TF price swings when ES doesn't. Have both charts side by side, 2min, 5min and 5Range etc

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