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.
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
"Risk more than others think safe.
Dream more than others think practical.
Expect more than others think possible.
Care more than others think wise"
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
The following user says Thank You to ollie for this post:
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