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Novice ES trader system advice


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Updated February 27th 2015 by arroganzmaschine
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Novice ES trader system advice

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  #11 (permalink)
Ilsede, Germany
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: Rithmic / CQG / Ninja Trader Brokerage
Trading: NQ, YM, ES
 
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arroganzmaschine View Post
Thank you very much! I will start doing work about the journal. How can I contact Mike?

Just address @Big Mike or any other member like such, and the member will receive a notice that he's been mentioned in your thread.

...And BTW, Welcome to futures.io (formerly BMT) !

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  #12 (permalink)
Oldenburg, Germany
 
 
Posts: 64 since Aug 2014
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Hi Daytrader999,

good to see some german friends here also participating. I will be preparing my journal in the next days. Hopefully it can be some great information for everyone.

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  #13 (permalink)
Ilsede, Germany
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: Rithmic / CQG / Ninja Trader Brokerage
Trading: NQ, YM, ES
 
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arroganzmaschine View Post
Hi Daytrader999,

good to see some german friends here also participating. I will be preparing my journal in the next days. Hopefully it can be some great information for everyone.

Yeah, I'm always glad to see some more German speaking traders around here as well.

And as you can see, Mike already moved your thread to the journal section.

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  #14 (permalink)
Oldenburg, Germany
 
 
Posts: 64 since Aug 2014
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Daytrader999 View Post
Yeah, I'm always glad to see some more German speaking traders around here as well.

And as you can see, Mike already moved your thread to the journal section.

Thank you for letting Mike know that my thread has to be moved.
Maybe we can get in touch later and start to know each other better.

Have a nice evening!

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  #15 (permalink)
Oldenburg, Germany
 
 
Posts: 64 since Aug 2014
Thanks: 53 given, 10 received

UPDATE: First post changed and now we can go on trading in the next weeks. Will post entries and exits in the next week. Not able to trade the whole and every day.

Have a nice day!

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  #16 (permalink)
North America
 
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Trading: Futures
 
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arroganzmaschine View Post
UPDATE: First post changed and now we can go on trading in the next weeks. Will post entries and exits in the next week. Not able to trade the whole and every day.

Have a nice day!

1. Get yourself an elite membership.
2. There are many threads and journals on trading the ES with different tyles and systems. Some are very close to what you described.
3. Take the time to do your homework.
4. Read this thread.

Head up and keep your stick on the ice!
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  #17 (permalink)
Oldenburg, Germany
 
 
Posts: 64 since Aug 2014
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Fritzk View Post
1. Get yourself an elite membership.
2. There are many threads and journals on trading the ES with different tyles and systems. Some are very close to what you described.
3. Take the time to do your homework.
4. Read this thread.

Thank you for your reply. I already thought about Elite membership. But first, I want to take the step of starting a journal. Everything else comes later and when I spent enough time studying.

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  #18 (permalink)
Oldenburg, Germany
 
 
Posts: 64 since Aug 2014
Thanks: 53 given, 10 received

I just traded this method for 4 weeks now on SIM, but I'm still confused.
Also in Backtest it is not profitable for me. I switched over to blank charts for trading price action on tick charts.

Has anyone a good advice how to start scalping the tickcharts with a good, consistent method?

I'll be thankful fo any advice.

EDIT: I'm thinking about trading the DOM with blank tick charts. I studied order flow for about two months, but I have problems on false breakouts. How can I avoid such failures?

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  #19 (permalink)
wichita,ks, united states
 
Experience: Advanced
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If you want to scalp tick charts i think you will need to use a time frame lower than 2000 ticks. The key to making scalp trades is that you have 2 primary charts. For example, one chart you look at and, if the most recent bar is going up you say the trend is up, and only take trades in that direction. I was having luck scalping the tf using a 144 tick chart and a 2000 tick chart. The problem with scalping is that it depends on momentum. I'm not sure the secret to discovering momentum ignition but, I'm having some luck using the Gomi tools available to elite members. When my 2000 tick is near a support level, i look for signs that the price will find support and squeeze. I guess I need to start a journal to maybe talk about this idea in a broader way. If you change your longer term chart, the bigger the squeeze. scalping depends on these squeezes and you need a way of identifying when and what direction a squeeze will happen. If you just try to get in and out all the time I'm not sure how profitable that will be in the long run. Its super frustrating taking a lot of trades each day with mixed success.

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  #20 (permalink)
Oldenburg, Germany
 
 
Posts: 64 since Aug 2014
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matthoffman View Post
If you want to scalp tick charts i think you will need to use a time frame lower than 2000 ticks. The key to making scalp trades is that you have 2 primary charts. For example, one chart you look at and, if the most recent bar is going up you say the trend is up, and only take trades in that direction. I was having luck scalping the tf using a 144 tick chart and a 2000 tick chart. The problem with scalping is that it depends on momentum. I'm not sure the secret to discovering momentum ignition but, I'm having some luck using the Gomi tools available to elite members. When my 2000 tick is near a support level, i look for signs that the price will find support and squeeze. I guess I need to start a journal to maybe talk about this idea in a broader way. If you change your longer term chart, the bigger the squeeze. scalping depends on these squeezes and you need a way of identifying when and what direction a squeeze will happen. If you just try to get in and out all the time I'm not sure how profitable that will be in the long run. Its super frustrating taking a lot of trades each day with mixed success.

Yes, it's super frustrating. I'm looking forward to scalp via DOM on Sierra Chart. I used 55 tickcharts (FGBL, TF) and 500 Tickcharts (ES) for scalping with this method. But in which area do I have to scalp with DOM and what are the exact setups I have to look for in the DOM? I'm learning for 2 months now...

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February 27, 2015


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