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ES Scalping System - 1 Point at a Time
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ES Scalping System - 1 Point at a Time

  #21 (permalink)
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COBPB

Thought I would do a short video describing what the setup Change of Behavior Pull Back (COBPB)looks like. THis is very similar to some of PATS BOPB setups with a slight twist using wave size and volume.

Wolf

Attached Files
COBPB.mp4 (7.62 MB, 173 views)
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  #22 (permalink)
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It is great, Jeff, that you take this new journey.....great start and explanation from the first page....hope we all will benefit by your participation...
will join after my holidays

regards,
Dmitri

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Traderwolf View Post
Thought I would do a short video describing what the setup Change of Behavior Pull Back (COBPB)looks like. THis is very similar to some of PATS BOPB setups with a slight twist using wave size and volume.

Wolf

Thank you so much for taking the time to do a video as they can take a bit of time to produce. It would be nice if we could put double likes on your contest journal entry.

Have a great day and thanks again for the video.

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  #24 (permalink)
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Today

10 trades...

7W
3L


Chart attached.
Wolf

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  #25 (permalink)
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Hi, I think I took the same 2 first trades as you did. What what the reason for your #2 trade? I think we both got stopped out on it, so I'm just trying to understand the reasoning behind it.

thanks.

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Anna K View Post
Hi, I think I took the same 2 first trades as you did. What what the reason for your #2 trade? I think we both got stopped out on it, so I'm just trying to understand the reasoning behind it.

thanks.


That was a BOPB from the BO level in combo with an 2ES. I felt like those 2 factors justified taking the trade. ON the negative side, PA had not broken the CT TL yet, but I felt like odds were in my favor.. I would take it again.. Anytime I get 2 factors strong as second entry and BOPB.. I am all in.........As you know some trades just fail.

Hope this helps.

Wolf

PS.. My abbreviations are listed in the second or so post in this thread.


Last edited by Traderwolf; October 7th, 2014 at 09:18 PM.
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  #27 (permalink)
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thanks, for your 2ES set ups, does the price have to trade 1 tick below the signal candle? tx.

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Anna K View Post
thanks, for your 2ES set ups, does the price have to trade 1 tick below the signal candle? tx.


It depends.. I will not take a stop any larger than 6T.. so if signal bar is generally 5T or less, I will go with a pivot break. So with the trade you have referenced, I went with the bar break or pivot break..

If the signal bar is larger than 5T or the signal bar is a CT bar, I have 3 options;
1. Pass
2. Drop a limit order 1-2T behind signal bar after bar break
3. Look for an entry on my 900T chart that will give me a smaller stop

On second entries(which I should rarely pass on), I will typically go with a limit order if signal bar is greater than 5T.

I did not code the trades on my chart today.. but I would have coded that trade 2ES-P.. Which means Second Entry Short with a Pivot entry.

Hope this helps.

Wolf


Last edited by Traderwolf; October 7th, 2014 at 11:46 PM.
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  #29 (permalink)
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Today

Done about 1030... Rough day for my trading plan.. Plan based on pullbacks in a trend and the legs were fast and sharp with few pullbacks.. Bars so large that 6T not survivable on stops anyhow without a pullback which rarely happened. Caught myself a couple of times trying to chase a move and I was on the mic(personal recording) and stopped myself 2 or 3 times.. Finally recognized I need to stop trading or the hole I dig could be huge.

Only took 2 trades before calling it a day.

2 W
0L

Also learned HLC charts could not give me what I needed.. Missed a couple of big reversal bars because I did not see the close tab until later.. Converted back to candlestick charts. That test is complete.

Wolf
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  #30 (permalink)
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Traderwolf View Post
Caught myself a couple of times trying to chase a move and I was on the mic(personal recording) and stopped myself 2 or 3 times.. Finally recognized I need to stop trading or the hole I dig could be huge.

Wolf, great job on catching yourself in the act! Do you record yourself all the time?

thanks.

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