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Big Mike's ES trades
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Big Mike's ES trades

  #1 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received

Big Mike's ES trades

For more on my setups and style, read this thread:
Trading the bigger picture: Scalper Edition

Today I didn't take any ES trades because I've been focusing on the ZN lately. But I thought I would still take a minute and pull up some ES charts and see what they look like.

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Ok the big chart (above). All we really care about on this chart is direction. Direction is long because price is above EOT's Allas Avg.

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The medium charts (above) are for picking reversals only. We know we want only longs since our big chart made that clear.

I can't show a small chart today because mine is messed up, I am playing with some new EOT stuff.

Remember not to be greedy. Two or three trades a day is all you need, with 1 to 2 points each. You can make $500-$1000 a day with that, just get comfortable scaling up the contracts.

Also keep in mind sometimes simple is best. I think my charts show you can be simple and still have a lot of information at your hands.

Mike

 
  #2 (permalink)
Elite Member
MIAMI,FL
 
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indicator whore

hey guys sharky again lol always trying to point things out that i see that i did before,indicators..............STOP ......... lol the whole point of indicators is so you can see what the chart is trying to tell you in a way that your mind can comprehend.. but after you use a indicator long enough you should be able to look at the same chart with no indicators and see the same thing, we have to be careful that we dont spend all our time learning a million different indicators and methods and make sure we spend our time instead,,,learning market behaviour thanks ...sharky

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  #3 (permalink)
CL Assassin
Near Dallas, Texas, US
 
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Mike, good post; keep everyone updated on the EOT indicators.

Sharky, good response. I can't agree with you more.

 
  #4 (permalink)
Site Administrator
Manta, Ecuador
 
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Platform: My own custom solution
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No trades on the ES today, but wanted to share this renko chart.

This + MML looks really amazing today.

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There is a new Renko thread here, and you can get the new MML indicator here.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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6)
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  #5 (permalink)
Site Administrator
Manta, Ecuador
 
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Posts: 46,240 since Jun 2009
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I have not been trading the ES really for about two weeks, while I continue my focus on the ZN (follow that here). I know many of you only trade ES and enjoy looking at my charts, so that is why I am posting them.

Here are screen shots for today. Again, charts show Central time zone. I use the 4 range for entry, the 2584 volume for reversals, and the 10946 volume for big picture trend. I am also playing with 4 tick renko for the big picture, so will post that here as well.

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Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #6 (permalink)
Elite Member
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Hi Mike

Two quick questions if I might.

1. What are the settings on your Jwillims %r

2. How would you enter on the renko, since price might not be where the bars indicate.

Thanks,

Pete

 
  #7 (permalink)
Site Administrator
Manta, Ecuador
 
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Favorite Futures: E-mini ES S&P 500
 
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Posts: 46,240 since Jun 2009
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Peter2150 View Post
Hi Mike

Two quick questions if I might.

1. What are the settings on your Jwillims %r

2. How would you enter on the renko, since price might not be where the bars indicate.

Thanks,

Pete

Williams %R settings 7,14,0. I don't enter on renko, because I don't trade my big chart. I enter based on my small chart.

I've been using 10946v on big chart for ES, but am liking renko having recently looked at it, because it absorbs some a lot of noise.

For me, I can't trade well off just one chart. So I use three charts, each with a specific purpose and a minimal number of indicators. I like using different types of charts (range, volume, renko) because each of those also have unique purpose.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

 
  #8 (permalink)
Elite Member
Washington DC
 
Futures Experience: Intermediate
Platform: NinjaTrader
 
Posts: 214 since Jun 2009
Thanks: 110 given, 115 received

Hi Mike

Thanks for the reply. I'll take a look at it in that light.

Pete

 
  #9 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received

I usually do not trade Friday's, and today I did not even log on until late evening. I am glad, because it was a terrible, terrible chop day.

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Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

 
  #10 (permalink)
Trading for Fun
Dallas TX/USA
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: AMP/CQG
Favorite Futures: ES
 
Posts: 154 since Jun 2009
Thanks: 33 given, 281 received



Big Mike View Post
I usually do not trade Friday's, and today I did not even log on until late evening. I am glad, because it was a terrible, terrible chop day.

We found four or so small trades to make in our live room, all winners as far as I can recall. It definitely takes more focus to pull trades out of a market like this, but it can be done!

Have you played any more with vr4x1? It's such a big help in identifying which direction we will come out of choppy areas.

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