NexusFi: Find Your Edge


Home Menu

 





Opening ES Trade


Discussion in Trading Journals

Updated
    1. trending_up 1,108 views
    2. thumb_up 0 thanks given
    3. group 2 followers
    1. forum 4 posts
    2. attach_file 0 attachments




 
Search this Thread

Opening ES Trade

  #1 (permalink)
 gumdr0p 
Illinois
 
Experience: Intermediate
Trading: Futures
Posts: 56 since Apr 2015
Thanks Given: 72
Thanks Received: 16

This journal will document an attempt at trading the open in the ES. I will begin with just observing, then move to sim, then hopefully trade it with a real account.

The basic approach is borrowing heavily from a Jigsaw trading video in which overnight HVNs are used as points of rejection.

day #1: 2037.75 open
HVN 2039.25-2040.50 -- 9:31 hit 2040.00 and then came down 3.25; 9:37 hit 2040.75 and came down 2.75.
HVN 2037.00-2037.50 -- 9:33 hit 2036.25 and then up 4.50; 9:43 hit 2037.50 and up 6.00 and still muddling about in between.

Of course, where I'd be able to enter is questionable, but so far the theory looks good in hindsight. I'm guessing I would have entered somewhere below the 2040 hit, but not been able to reverse... when it went beyond the lower HVN and rejection wasn't as obvious.

Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Exit Strategy
NinjaTrader
Futures True Range Report
The Elite Circle
Better Renko Gaps
The Elite Circle
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
 
  #3 (permalink)
 gumdr0p 
Illinois
 
Experience: Intermediate
Trading: Futures
Posts: 56 since Apr 2015
Thanks Given: 72
Thanks Received: 16


open: 65.75
HVN: 66.25-66.50 (±2 ticks) -- It popped up and then came down. Being anxious I might have shorted around 65.50 thinking it was rejected in the first minute. That would have been bad as it only went 2 ticks below that and then came back up to 68.00. A better entry (hindsight, I know) would have been to then take it long after it came back down from the 68.00. 9:34 it comes down to 66.25 (right to the HVN) and then goes up to 69.75. 9:43 it comes down to 66.75 (1 tick above the HVN) and goes up to 70.50. I don't know how well I would have spotted the rejections, as I was distracted by other market things.

Started this thread Reply With Quote
  #4 (permalink)
 gumdr0p 
Illinois
 
Experience: Intermediate
Trading: Futures
Posts: 56 since Apr 2015
Thanks Given: 72
Thanks Received: 16

open: 76.50
HVN: 75.00-75.50 or wider at 74.50-75.50 -- this would have been a rough one. It bounced off of 75.50 and I might have entered around 76.00. That would have failed (only went up two ticks) as it went down 2.25. A better entry would have been 74.50, but even that would have been difficult as it hovered in the HVN, although theoretically it would have gained a 1pt target after 12 minutes (possibly sooner, as it touched it a few times) before heading downward.

In general, though, I'm not sure I would have played this one as I was anticipating a pullback with the market having two up days in a row and moving up even further overnight.

Started this thread Reply With Quote
  #5 (permalink)
 gumdr0p 
Illinois
 
Experience: Intermediate
Trading: Futures
Posts: 56 since Apr 2015
Thanks Given: 72
Thanks Received: 16

open: 76.00
HVN: 72.25-74.00
9:36 touches HVN at 74.00... I had a difficult time spotting rejection, but could have squeezed a point out of the 2 pt move.
9:39-> Comes down a few more times (as low as 73.75), would have probably scratched as it moved up only a little and came back down. By the time it got another decent 1.75 move off the HVN (later than I'm planning to enter... around 9:50) I would have scratched and/or taken 1-2 tick losses as it just seemed like it wasn't popping. Sometimes I can spot the rejection, but there just isn't any movement to the upside. It just did it again at 9:55.

Started this thread Reply With Quote




Last Updated on April 15, 2016


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts