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Great enter. Good SL with explanations 1.4246 were no activity and there some limits. But still weak SL till i see your explanations why so small stop.
Good trade management showing you have a feel of market but not change your mind so often and pull of your Slosses. It is better 10 scalp in this situation as your versus trend once again)))
And once again scalp versus trend. See how 9:37-39 tape is almost stop. There is no activity and no BIG prints on the BID showing you sellers becomes less agressive and take profits at the limit side. Probably there is soon reverse or consolidation.
You begin to jump often and this shows that you lost your feel of direction as many of traders too. You need to take a brake and look in the CASH what market decide to do.
Market dead and activity on the move down is weak. You wait of test of lower prices of the range and lack of sellers and go versus them.You wait lack of buyers at range high prices and go versus them. This is your strategy in sideways markets.
From this point you can do trades 15-20-25-30-40 ticks and scalps. At prices of range there are good chances to enter in continuation of downtrend (high of the range) or it reverse (Low of the range) to uptrend.
Good trade
At least bad one trade))) Why do you did not show us your losses? There is many information in this trades))) Believe me. Your losses is what doing you better if you learning from them but did not turn around and say "aaaah Forget about it")))
Ok. You did not wait until test 1.4203-4200 Tape begin accelerate. Get out before it is too late. It seems market wants lower prices.
Hey. I just use 4 ticks in general. When I started learning tape reading and trying to trade I only used 2 tick stop loss some times it work some times it didnt. It was too tight. I do not know how ES behaves, (you say you only trade ES). But I have been trading nothing but Euro for the last 3 months. From my experience so far with 6E, 4 tick sl gives more room for breathing then 2 tick. You dont need bigger because if you wrong you are wrong doesnt matter how big your stop is. If you are asking specifally why in this situtation I say its just I dont have enough time to change it to a smaller stop or whatever. And since its bigger that 2 tick I have time to reverse if Im wrong.
And I will only make videos on Monday, Wednesday and Friday because I need a breaks in between from the video making. its a lot of work editing them and uploading them. I still trade on Tuesdays and Thursdays thou.
This is a trade I made today at Support 1 with 4 tick SL. The first time I got stopped out because I was wrong on which direction.(I thought was gonna be a breakdown) But second time I realized it was gonna hold. I got out at 1.4191. Early but good enough for me. 1 contract. So try EURO, you might like it.
Yeah, it did stop at 9:37-39. The 2 contract strategy would of worked good in this situation. Yeah I was jumpy yesterday. What do you mean I need to look in the cash? At the big prints? All im looking at right now is flow of tape.
