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ES entries/targets & risk/rewards


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ES entries/targets & risk/rewards

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  #11 (permalink)
Greensboro NC
 
Experience: None
Platform: TOS/ NT Dorman
Trading: ES TF CL
 
Rad4633's Avatar
 
Posts: 1,352 since Sep 2011
Thanks: 2,651 given, 891 received

Came in to check on market, saw this trade as soon as opened pc up

My r2r was good original target was 1410.50 but I exited at 08.50 bc I m leaving as soon as I finish this

reason for trade making HL's small time frame and my earlier targets still in play, news must been involved in push down idk will look later tonight

TGIF

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  #12 (permalink)
Greensboro NC
 
Experience: None
Platform: TOS/ NT Dorman
Trading: ES TF CL
 
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Posts: 1,352 since Sep 2011
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Private Banker View Post
The first reference for the day was we opened right at 8/24's VAL which lined up with VWAP this AM. The other reference was 8/24's low. Those were the two most profitable opportunities on the day. You had a good entry from the 1st standard deviation level this afternoon. This was also the DVAL for the day and the IB low. I took your chart and marked areas that are good entries aside from the initial short entry at the open. The goal is to trade at the extremes of the day. I circled in yellow the entries with the cyan circles being good exits. Note how price reacted to the flattened VWAP levels. Excellent rotational trade opportunities.


PB I have reviewed your recommendations and have a few questions about your setup and the way you would look at the upcoming trade still using our example,

1) I have drew a red arrow to the VAL on the 24th and I see low on the 24th and understand the trade to that level as target, if you have time can you post a chart showing your vwap bc mine isnt there(also do you use rth data only on your charts for calculating this?)

2) trading VA, when market is in Value(vwap would be flattening at this time too,correct? then trade to each side until it comes out, I used to follow shadowtrader TOS and the way he traded it. His rule was once in value 85% chance going to other side, so is this how you recommend until PA comes out of that range?

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  #13 (permalink)
Ontario, Canada
 
Experience: None
Platform: NT
Broker: IB
Trading: gold
 
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Posts: 405 since Jan 2012



Rad4633 View Post

If im going to do this thread Ive got to learn to convey my thoughts better. My style of trading will become more clear the more I post

Absolutely
--but there's a long road ahead of you so don't be discourage
good luck
D

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  #14 (permalink)
phl pa. usa
 
Experience: Advanced
Platform: tos
Trading: es
 
Posts: 1,126 since Mar 2012
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rad - here is how i saw fridays market -

note A&D - bounced off the zero line at the same time the ES HIT its ALGO move base -also note the range had doubled - i tried to show what i am looking for -

there is 1 thing i always no for sure - a

"you can pay in many ways as a trader but the greatest pay comes when you pay attention"






:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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  #15 (permalink)
La Jolla, CA
 
Experience: Master
Platform: Sierra Chart, X_Trader Pro, OptionsCity
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
 
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Rad4633 View Post
PB I have reviewed your recommendations and have a few questions about your setup and the way you would look at the upcoming trade still using our example,

1) I have drew a red arrow to the VAL on the 24th and I see low on the 24th and understand the trade to that level as target, if you have time can you post a chart showing your vwap bc mine isnt there(also do you use rth data only on your charts for calculating this?)

2) trading VA, when market is in Value(vwap would be flattening at this time too,correct? then trade to each side until it comes out, I used to follow shadowtrader TOS and the way he traded it. His rule was once in value 85% chance going to other side, so is this how you recommend until PA comes out of that range?

Not sure what session template you have there but I do prefer to look at the RTH value and poc levels. As I mentioned the other day, the market opened right at the VAL from 8/24 and sold off from there. Market tested it again during the last hour of trading and was still a point of resistance. The day was really just an auction out of range where price rotated/balanced within the lower distribution of 8/24. Note that the value and poc levels I have here are with a 3 tick rounding/smoothing and are set to overlay on a 1 tick TPO which is why you may see those levels not aligning perfectly with the TPO levels. It also appears that you are looking at volume value and poc levels which will sometimes be different than TPO value and poc levels.

With regards to price trading within value, that is a long explanation but generally, in a trending market, price will be out of value/leading value signifying an imbalanced market. A trending day with VWAP will show price remaining on one side of VWAP and either respect VWAP or the first standard deviation level. When price is rotating in and out of value it's simply a rotational market. VWAP should be relatively flat on rotational days.

As for the 80% rule, it also should apply to the VWAP standard deviation bands and IB levels.

Hope that helps and makes sense.

Cheers,
PB

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  #16 (permalink)
Greensboro NC
 
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3 trades this am
1) 1tick loss
2)3tick loss
3) I knew where it was going then 4.75 profit

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  #17 (permalink)
Greensboro NC
 
Experience: None
Platform: TOS/ NT Dorman
Trading: ES TF CL
 
Rad4633's Avatar
 
Posts: 1,352 since Sep 2011
Thanks: 2,651 given, 891 received

Things that I ll list in my journal, My exact entries, Ninja has a option to show this, no bs here, Because if Im wrong you'll see it and also I can take constructive critism for a bad move and why i shouldnt have taken it, becuase IMO if no one knows only you lose $$$, but if everyone sees its your reputation which I regard extremely high.

I'll try to list why I take trades, I'm not much of a typer that's why its taken me this long to start a journal, but I am eager to learn more from others and define my mistakes in public which will better me down the road.

I'll also list the emotionally side of it, especially on bad trades and what affected me, just like today my first two trades I shouldnt have been in the market dealing with life issues so my mind wasnt focused enough. my issues were more important than the money on the line, next time I wont trade at this time

For now thats all folks
R

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  #18 (permalink)
Greensboro NC
 
Experience: None
Platform: TOS/ NT Dorman
Trading: ES TF CL
 
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Posts: 1,352 since Sep 2011
Thanks: 2,651 given, 891 received

Sorry when I started this I was playing around and not taking thread, serious, so some or most lol, might have gauged me the wrong way, sorry for the confusion

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  #19 (permalink)
Greensboro NC
 
Experience: None
Platform: TOS/ NT Dorman
Trading: ES TF CL
 
Rad4633's Avatar
 
Posts: 1,352 since Sep 2011
Thanks: 2,651 given, 891 received

This trade here is the reason only trading a certain part of the day makes one reconsider trading all day. Text book perfect wasnt it for a system like @creekboy. But on a different note it was nice to have taken the day off after early am trades to have lunch with a old friend

Im trying to find the balance between trading and outside life

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  #20 (permalink)
Greensboro NC
 
Experience: None
Platform: TOS/ NT Dorman
Trading: ES TF CL
 
Rad4633's Avatar
 
Posts: 1,352 since Sep 2011
Thanks: 2,651 given, 891 received


With this setup I can pretty much sit down and trade at anytime, was out this am came in did 2 quick scalps.

ok Im done for now might come back trade little more afternoon

1)trade 1pt profit
2)trade 2ticks profit

Traded heavier bc of scalping R2R on first trade was 1 to 1, 2nd was 2ticks to 3 ticks

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