Interesting video scalping ES... - Traders Hideout | futures io social day trading
futures io futures trading


Interesting video scalping ES...
Updated: Views / Replies:11,876 / 45
Created: by Jugador Attachments:4

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 4  
 
Thread Tools Search this Thread
 

Interesting video scalping ES...

  #21 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary

This is really a good laugh

I watched the video, it is fun, but I do not believe in white elephants....

(1) It is a broker's dream, generating lots of commissions, but for any trader having a retail account it is one of the fastest method to blow the account.

(2) ES traded from 16:11 to 16:30 GMT (?) within a 4 tick range between 1133.50 and 1134.50. How many of these setups do occur? To find out, I took a 10 min chart and tried to find bars with a range of 4 ticks or less. The fastest method to do this is to apply an ATR(1) to the ES chart and look at an occassion that ATR(1) fell below 1 point (= 4 ticks) for two consecutive bars during real trading hours.

This is what I found for last week (all times in Eastern Time):

Monday, April 12: 11:20 - 11:40
Tuesday, April 13: 11:20 - 11:40, 11:50 - 12:10, 12:30 - 12:50
Wednesday, April 14: 11:50 - 12:10, 12:40 -13:00, 14:40 - 15:20 (outlier)
Thursday, April 15: 10:50 to 11:10
Friday, April 16: none

This means that you get about 8 specific setups per week, where you can trade that style, if you do not pay commissions. Out of the 8 setups, 7 occured between 10:50 and 13:00, so this type of setup will be found during the two hours around noon.

(3) Trading style: The trading style is nothing else than market making. To be a market maker you usually need some privileges, such as not paying commissions. You cannot do this with a retail account.

(4) The black swan effect: Any mean reversion method will yield you a large loss, once price moves out of the range. You will get a couple of small gains and the game will end with a larger loss, when the breakout occurs. So even if the guy hits the exit button very fast, his loss will by 3-4 ticks at least, while he gained 1 tick on each of his wins. So he needs a win rate > 75%. By the way the video stopped at the very moment when the breakout occured, so he does not show his loss.

(5) You cannot predict that prices will stay in a trading range of 4 ticks for 20 minutes, but you can try 10 times and maybe it will work once. You only need to publish the one video, when it actually worked.

I agree with Sam. This guy is selling snake oil, and I am certainly not going to buy it, LOL. Keep your precious money and enjoy the video.

Reply With Quote
The following 2 users say Thank You to Fat Tails for this post:
 
  #22 (permalink)
Administrator: Retired Backtester
 Vendor: speedytradingservers.com 
Rennes France
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: IB/Kinetick
Favorite Futures: Futures
 
sam028's Avatar
 
Posts: 3,366 since Jun 2009
Thanks: 3,573 given, 3,982 received


vast View Post
Would love to get a translation of what he is saying.
ES is liquid enough to do that.
Jugador do you understand French?

I tried to translate and recording it, but unfortunatly I was laughing every 30 seconds, impossible to finish it...

Success requires no deodorant! (Sun Tzu)
Reply With Quote
 
  #23 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary


Ne fait pas perdre ton temps, cela ne se traduit pas.


sam028 View Post
I tried to translate and recording it, but unfortunatly I was laughing every 30 seconds, impossible to finish it...


Reply With Quote
The following user says Thank You to Fat Tails for this post:
 
  #24 (permalink)
Member
USA
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: IB
Favorite Futures: ES
 
Jugador's Avatar
 
Posts: 163 since Jul 2009
Thanks: 67 given, 51 received


sam028 View Post
I tried to translate and recording it, but unfortunatly I was laughing every 30 seconds, impossible to finish it...

Okay, well we appreciate you trying to help and giving it a shot. Your a good man!

Reply With Quote
 
  #25 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary

Just a few minutes ago, there was price action that was similar to the prices I had seen in the video. The trading range on the chart below is 5 ticks wide. It lasted for 22 minutes. However, the volume was significantly lower compared to the volume shown on the video.

This was tradeable from the long side, with an entry 1 tick above the lower line with a target of 4 ticks and was filled when the breakout occured to the upside.

Even if the video is a joke, noon time is definitely a setup for mean reversion strategies.

Attached Thumbnails
Interesting video scalping ES...-es-06-10-1-min-23_04_2010.jpg  
Reply With Quote
The following user says Thank You to Fat Tails for this post:
 
  #26 (permalink)
Member
USA
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: IB
Favorite Futures: ES
 
Jugador's Avatar
 
Posts: 163 since Jul 2009
Thanks: 67 given, 51 received


Fat Tails View Post
Noon time is definitely a setup for mean reversion strategies.

Also, late night. I installed the "Open E Cry" software (the same he uses in the video) a couple of days ago. Last night I got up at 1:00 am and the market was perfect, with about a 3 tick range for 30 minutes.

I made about $400 trading 5 lots. However, like you, I am a bit skeptical about the fills. I'd have to see it "live" and not a demo to believe it.


As for as this being a "white elephant", I think it's feasible if you trade size, and could negotiate a "low" commission rate.

But, first things first, I want to see these fast fills on a live account.

Reply With Quote
The following user says Thank You to Jugador for this post:
 
  #27 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary

Would not want to imitate that scalping method

Hi Jugador,

the point is that as a trader you would always think about your competitive advantage. I am a retail trader, so this has some advantages and some disadvantages.

Advantages:

(1) I have ultra low fixed cost: my fixed cost including rent, data, depreciation for equipment and software is below USD 200,- per month
(2) I always get reasonable fills and can feed off the menus of the big guys, as i am trading moderate size in liquid markets
(3) I can choose, when to trade a market and when not to trade, I just need a few trades per day to be happy.

Disadvantages:

(4) Being located in Central Europe, I am relatively far away from the exchange (about 120 msec to Chicago)
(5) I have a higher cost per round turn than exchange members
(6) I have limited technical support
(7) I have limited research capabilities

(4) and (5) keeps me out of high frquency trading. Because of (6) I am not running an automated system. Because of (7) I am not a fundamental but a technical trader. My basic understanding of probabilities teaches me to look for frequent trading opportunities and limited market exposure. My basic understanding of psychology tells me that I should look for an approach with a high win rate, as I am a bad loser, LOL. Note that this is not required to obtain a positive expectancy.

So my personal comfort zone is a trade-off between

- the competitive position of the retail trader
- some basical concepts of probability
- my own psychological limits

Scalping the way shown in the video means competing with HFT of Goldmann Sachs and a lot of trading houses that are sitting in the building next to CME. I am not committing suicide, but will stay in a niche, where these other guys can not beat me up easily. It is a sniper approach or if you like, I am just the vulture who feeds off the big guys, who make things happen.


Jugador View Post
As for as this being a "white elephant", I think it's feasible if you trade size, and could negotiate a "low" commission rate.

But, first things first, I want to see these fast fills on a live account.


Reply With Quote
The following 2 users say Thank You to Fat Tails for this post:
 
  #28 (permalink)
Just starting out...
Los Angeles
 
Futures Experience: Intermediate
Platform: NinjaTrader, Tradestation
Broker/Data: Tradestation
Favorite Futures: ES
 
Posts: 11 since Apr 2010
Thanks: 17 given, 2 received

Very Impressive... Am suprised it actually works... Any other videos like this.. (in ENGLISH)??

Reply With Quote
 
  #29 (permalink)
Just starting out...
Los Angeles
 
Futures Experience: Intermediate
Platform: NinjaTrader, Tradestation
Broker/Data: Tradestation
Favorite Futures: ES
 
Posts: 11 since Apr 2010
Thanks: 17 given, 2 received


sam028 View Post
I tried to translate and recording it, but unfortunatly I was laughing every 30 seconds, impossible to finish it...

Try again and finish it this time, and you may have more to laugh about.. all the way to the bank...

Reply With Quote
 
  #30 (permalink)
Elite Member
New York
 
Futures Experience: Advanced
Platform: NT
 
gabga100's Avatar
 
Posts: 147 since Nov 2009
Thanks: 44 given, 69 received


Here is the theory behind it ......

If there is a big move against you you lose big.... no such thing as a riskless trading strategy



I can make the translation this evening if anybody interested ...

You know what you know but you do not know what you do not know.
You do not see things how they are, you see things how you are.
In life you do what you want but you do not want what you want.
Attached Thumbnails
Interesting video scalping ES...-comparative.pdf  
Reply With Quote
The following 2 users say Thank You to gabga100 for this post:

Reply



futures io > > > Interesting video scalping ES...

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
My ES Scalping Strategy, 2+ pts/day jwdixon Emini Index Futures Trading 189 March 27th, 2017 08:05 PM
ninjaindicators4u looks interesting Maestro Trading Reviews and Vendors 26 August 8th, 2013 04:02 AM
TMNT's Trading Journal: ES 5m candle, Price Action scalping tmntrader Elite Trading Journals 20 August 12th, 2011 04:37 PM
Interesting way to unload your losing trades shodson Traders Hideout 0 October 8th, 2009 01:06 AM


All times are GMT -4. The time now is 05:08 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-14 in 0.17 seconds with 20 queries on phoenix via your IP 54.221.73.186