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Novice ES trader system advice
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Created: by arroganzmaschine Attachments:4

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Novice ES trader system advice

  #41 (permalink)
Elite Member
wichita,ks, united states
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: AMP
Favorite Futures: ES,TF,NQ,CL,
 
Posts: 19 since Jan 2014
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arroganzmaschine View Post
After a long time of absence and learing process, I finally had time to spend the first session trading the ES.

My explanation:

Trade 1: Looked for the double bottom there. Saw less selling pressure and decided to take the long trade. Didn't hold it long enough, but there came selling pressure again.

Trade 2: After the breakout of the bearish trend, I took this trade because of buying pressure and the POC behind it.

Trade 3: Entry by pullback and seeing buying pressure again. Exited too early, because the market moved sideways a bit too long for me. What can I do better there?

Thanks in advance to everyone who replied so far.

Hey good job today. trading is all about developing a feel for the market and your catching on. the only way to hold a trade longer is to use a higher time frame, say a 4500 tick and judge the larger trend there. Then you can make a better decision regarding the sideways movement and what it means. Ie, is this topping action or consolidation action for another leg up. Good luck!

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  #42 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
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Nice job journaling @arroganzmaschine.

I want to let you and all your readers know that in October futures.io (formerly BMT) has a Trading Journal contest w/prizes. The contest runs October 1 to October 31, and the three best journals (as decided by futures.io (formerly BMT) members) will receive a 150K combine from TopstepTrader.

The contest thread is here:

https://futures.io/feedback-announcements/33355-october-trading-journal-contest-w-prizes.html

That thread will be open for posting starting Wednesday, October 1. As the author of your journal, you need to make a post in that thread linking to your journal, and then ask users to press the "Thanks" button on that post if they want to vote for your journal to win the contest.

Members can vote for as many different journals as they want. Votes are cast in the Contest thread only, and only on the first post made by the author of the journal that contains a link to their journal. This is done so I can easily count the "Thanks Received" by author/journal, and award the three prizes.

Mike

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  #43 (permalink)
Trading for Fun
Oldenburg, Germany
 
Futures Experience: Intermediate
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Posts: 64 since Aug 2014
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Big Mike View Post
Nice job journaling @arroganzmaschine.

I want to let you and all your readers know that in October futures.io (formerly BMT) has a Trading Journal contest w/prizes. The contest runs October 1 to October 31, and the three best journals (as decided by futures.io (formerly BMT) members) will receive a 150K combine from TopstepTrader.

The contest thread is here:

https://futures.io/feedback-announcements/33355-october-trading-journal-contest-w-prizes.html

That thread will be open for posting starting Wednesday, October 1. As the author of your journal, you need to make a post in that thread linking to your journal, and then ask users to press the "Thanks" button on that post if they want to vote for your journal to win the contest.

Members can vote for as many different journals as they want. Votes are cast in the Contest thread only, and only on the first post made by the author of the journal that contains a link to their journal. This is done so I can easily count the "Thanks Received" by author/journal, and award the three prizes.

Mike

Thank you Mike! I definately don't know if my journal has a great chance in this contest. But as my journal will grow in the next few weeks, I will decide to take a look there.

Max

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  #44 (permalink)
Trading for Fun
Oldenburg, Germany
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: ES
 
Posts: 64 since Aug 2014
Thanks: 53 given, 10 received

Quick update before market news:

Trade 1: Selling pressure on last bottom.

Trade 2: Buying pressure on last short term resistance zone.

BEWARE: It's SIM mode and still not live trading.

Trading for today stopped. Time is limited.

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Last edited by arroganzmaschine; October 1st, 2014 at 11:16 AM.
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  #45 (permalink)
Trading for Fun
Oldenburg, Germany
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: ES
 
Posts: 64 since Aug 2014
Thanks: 53 given, 10 received

Quick update:

Trade 1: Downtrend, selling pressure on lower high and less buying there

Trade 2: thought it could be trend change and saw less selling pressure. Bad!

Trade 3: Less buying pressure on last higher high, took stop at +1 after trade went +5 ticks. Bad situation for me. Better was that I moved it not so fast to BE. But lessons learned!

Have a nice weekend.

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  #46 (permalink)
Trading for Fun
Oldenburg, Germany
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: ES
 
Posts: 64 since Aug 2014
Thanks: 53 given, 10 received

Back without absence

After a long period of time, I will be back to keep the journal up to date. I will post some updates on my trading in the next few days and start to go on posting my trades. Hope everybody is doing well.

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