In my pre-market video I gave 95 as a target for ES today and it hit it and even went a little lower. Next target is 78. You can see the video here if you missed it:
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I had a terrible day trading crude today and I decided that I was going to put crude aside for now and focus 100% on the ES during US RTH. I can read ES really well but crude is a bit of a mystery.
Here's the ES trades. I really scored on that last one. I was establishing my short position and I kept scalping to improve my cost basis and then catch the nice move down into the close.
This is why I love ES. I can read it well, I can safely trade size, all my tools work well with it, and I rarely have a loser. I'm not bashing crude, crude is great. It just takes time to master it. I've put in 2 years on ES so best to stick with that. And if I can trade size on ES, do I really need to trade anything else?? So I'm just going to stick to what I know and see if I can increase my size to achieve my goals. My basic unit has increased from 1 to 2 contracts. If I scale in I can have several units. That last trade shows 7 but I only had 5 open at one time.
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This morning I finished trading early so I had time to make a video reviewing my euro stoxx trades. I also made a video going over one of my ES trades from earlier in the week, I'll post that one this weekend. I think they will give you some more insight on those "sois-disant" professional bars.
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Month to date results of the euro stoxx are quite impressive. 20 trades all winners for 1000 euros. I started out wihtout many trades but have become a bit more aggressive and increased my unit size from 1 to 2 which increased profits:
Dax results are very impressive, I've traded the dax only for 6 days yet made as much as I did on EuroStoxx for the month. Thanks to Jeff Castille for the idea I'm using to trade the Dax.
Yes I am in Italy.
I like the FESX opening, which is at 8, and I need an hour or so to get my brain working ;-)
When I'm live at the FESX opening, I usualy get a couple of good trades before 11 am.
Then I may trade the US opening at 15.30, looking for a couple more trades, or for a trend-setting one.
The FESX opens at 8 but the cash markets in germany open at 9am. There are usually good trades from 8-9am as FESX will test the nearby levels of the day before. Unfortunately I'm getting the kids ready for school. In September I should be able to start at 8:30.
I trade the first hour to hour & a half of europe and then I go for a run in the park, go out for lunch at a restaurant, and if I have extra time I work on some of my prototypes. Then I trade ES from about 14:30 to 18:00. I also trade ES from 20:30 until I get a winning trade and then I quit. I really like the last 90 minutes of ES. The levels are defined and I can always find a good trade.
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