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ES intraday 'swing' trader
Started:November 18th, 2016 (08:41 AM) by DaxyMcDaxFace Views / Replies:5,682 / 329
Last Reply:19 Minutes Ago (06:25 AM) Attachments:79

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ES intraday 'swing' trader

Old December 1st, 2016, 06:42 PM   #131 (permalink)
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another poorly played end of day for me - was long avg 2198 and took small profit.....why! I know why, i had too much size on - 6 lots.......making 400 bucks with that amount will eventually kill my account when i take the hit. I should be making that with 2 lots and 3 x that with 6 lots. Poor trading for 2nd day running. Not happy.

Write it down as your primary goal for tomorrow / next few sessions. Happens to us all!

You have been around the block at a few different firms right? Are you still at a firm or you trading retail now?

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Old December 1st, 2016, 07:30 PM   #132 (permalink)
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Write it down as your primary goal for tomorrow / next few sessions. Happens to us all!

You have been around the block at a few different firms right? Are you still at a firm or you trading retail now?

Hi @FGBLTrader thks for dropping by.

Great comment - i will do that.

Yeh 3 prop firms in UK. 2 are shut/bust afaik.

I am funding myself now......i ended with a prop firm last year, bit lucky as it went under 6 mths later (sure you can guess which one). I have terrible habits from earlier prop experience which was all dom.......taking my eyes off of dom and just trading PA has been a hard transition.

Thats not an excuse, i have other bad habits i need to conquer.....inc fomo.

Hoping the journal helps out. It already has re focus and patience - must have halved my RTs at least....so fcuk you broker!

Rgds.







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Old December 2nd, 2016, 04:58 AM   #133 (permalink)
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Hi @FGBLTrader thks for dropping by.

Great comment - i will do that.

Yeh 3 prop firms in UK. 2 are shut/bust afaik.

I am funding myself now......i ended with a prop firm last year, bit lucky as it went under 6 mths later (sure you can guess which one). I have terrible habits from earlier prop experience which was all dom.......taking my eyes off of dom and just trading PA has been a hard transition.

Thats not an excuse, i have other bad habits i need to conquer.....inc fomo.

Hoping the journal helps out. It already has re focus and patience - must have halved my RTs at least....so fcuk you broker!

Rgds.

Cool, yeah i know a few guys who were @ that firm, also gained bad habits. Encouraged to over trade and then suddenly you have a very bad habit of getting sucked in by what you see on the DOM, and thinking you have to be involved every time there is some volume / volatility.

I am also currently going through a similar transition, moving away from such short term trading to focusing on the charts. Thankfully its going smoothly (so far).

Is there any particular reason you choose to trade ES ETH during Eurex hours? I am looking to add ES, I only trade Bund at the moment.

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Old December 2nd, 2016, 08:55 AM   #134 (permalink)
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Cool, yeah i know a few guys who were @ that firm, also gained bad habits. Encouraged to over trade and then suddenly you have a very bad habit of getting sucked in by what you see on the DOM, and thinking you have to be involved every time there is some volume / volatility.

I am also currently going through a similar transition, moving away from such short term trading to focusing on the charts. Thankfully its going smoothly (so far).

Is there any particular reason you choose to trade ES ETH during Eurex hours? I am looking to add ES, I only trade Bund at the moment.

Agree it can be very distracting.

ETH ranges quite nicely and respects decent levels....and its slow, its almost a set and forget trade. Have left well alone this morn, will wait for nfp/rth.




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Old December 2nd, 2016, 01:39 PM   #135 (permalink)
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Futures Edge on FIO
I am 3.5 pts down i sold 96.75 and cleverly had 3 tick hard stop which got taken as i got filled on entry. Mistake 1. There wasnt really a level there and week vwap @98 looked more enticing but it never got there.

Really stuggling to read this today.

If pnl stays same it wld be first down day since starting journal.

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Old December 2nd, 2016, 04:42 PM   #136 (permalink)
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I am 3.5 pts down i sold 96.75 and cleverly had 3 tick hard stop which got taken as i got filled on entry. Mistake 1. There wasnt really a level there and week vwap @98 looked more enticing but it never got there.

Really stuggling to read this today.

If pnl stays same it wld be first down day since starting journal.

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Went long 88s sold 92s for 8pts to end the day +4.75 which though wasnt much was nice way to end week.

My best week in a very long time, and yet still much to improve on.

Have a good w/e everyone.

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Old December 2nd, 2016, 05:45 PM   #137 (permalink)
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I am 3.5 pts down i sold 96.75 and cleverly had 3 tick hard stop which got taken as i got filled on entry. Mistake 1. There wasnt really a level there and week vwap @98 looked more enticing but it never got there.

Really stuggling to read this today.

If pnl stays same it wld be first down day since starting journal.

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I am not down but made some good and crappy choice..
was bidding 84 in the morning but did not go there and i decided to be a dud for a tick.
than short 96.75 ticks made lower lows and vix increasing and ndx selling off. but covered too quickly 94.5
than went long 92.50 dumb that was not even vwap but went long 1 and than added at 91.50 too quick add than added 90.5 (vwap) and final add the right right one at 98.5 when there was a taper in the number of contracts to 139 and repeatedly es trying to move down could not take that low out (96.75) than got out 2 contracts too quick at 89.75 stupid finally at 92.75 all flat would have held 1 for weak end but Italian referendum on Sunday. BTW i like your postings helps me think a lot.

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Old December 3rd, 2016, 09:50 AM   #138 (permalink)
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I am not down but made some good and crappy choice..
was bidding 84 in the morning but did not go there and i decided to be a dud for a tick.
than short 96.75 ticks made lower lows and vix increasing and ndx selling off. but covered too quickly 94.5
than went long 92.50 dumb that was not even vwap but went long 1 and than added at 91.50 too quick add than added 90.5 (vwap) and final add the right right one at 98.5 when there was a taper in the number of contracts to 139 and repeatedly es trying to move down could not take that low out (96.75) than got out 2 contracts too quick at 89.75 stupid finally at 92.75 all flat would have held 1 for weak end but Italian referendum on Sunday. BTW i like your postings helps me think a lot.

Yeh shame didnt get down into the eth lows @84 - i was looking for longs there also. Looks great on HTF chart also - a retest of this level, for a continuation long. I was thinking about ETH long there but decided against.

So you sold same place as me! Its the perfect setup as per my chart below - ahhhhh, theres triple tap there which is also a sign of exhaustion - 3 HHs yet failing to close above. How do you define your targets? I was fearful it was turning into uptrend day, but the shorts targets wld have been the other side of the range @89s ish (OR_low as thats the play - a full swing from top to bottom) - & it hadnt extended itself too much from OR, it was friday & NFP was inconsequential so if i hadnt stopped out thats what i wld have been looking for.

Like you, I also then started to look for longs as this often happens when i was right on a trade yet got stopped due to too tight hard stop. Silly psychology at play, but in my defence there was supporting evidence - it was ACD system A_up play - though the extension away from OR just wasnt enoughas soon as it trades through vwap & starts heading towards OR a test of the day lows was on the cards (imo). However i looked for long @ day vwap ~93s (what vwap you look at?), which i scratched, and also a long at SD-1 / OR_high / y_close ~92s - scratched those also. All of these longs showed increase in RVol & tick div so i wasnt just winging it - i just picked bad levels. The retest of vwap & failure to close above was also indication that lows may get taken. So i did well to scratch but at same time shld have still been in my short, looking for these as targets.

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And then the final long @ 88s. Though tick div was low the tick reading was struggling to stay below 0.

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This was a great trade imo, despite it being a new LL, the RR was great (stop 1 pt below) so 1:4 pretty much. And more tick div just before lift-off - did think about adding with very tight stop.

Re holding trade over any w/e....I wld only hold if it is an OTF trade, or I was onside by long way and HTF looked good for continuation.

Thanks for the compliment, yours and everyone else who has posted on here has helped me also. Peoples comments make me think, and also I am not just accountable to myself if I know theres a few of you guys interested, which I believe has given me stronger focus. When i initially started the journal i didnt want for anyone else to post as i knew the issues were down to me, so i just wanted to focus on me & the charts - but now I have some confidence in my methods I am enjoying others posting.

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Old December 3rd, 2016, 11:47 AM   #139 (permalink)
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Hey Daxy

I'm wondering if you would take 20 minutes to look at a slightly different chart...one that I think gives a better picture of what I think you are looking at.

I am assuming that is a ETH VWAP on the close? Seeing the time on the horizontal axis would help...because IMO you should only be trading high volume times...don't take offense but that would be CME open in the US or 7am central standard time to about 10am or 11am cst...if you love not sleeping you might see good volume into the US equity close.

For me...that is both, my eyes and my brain, trying to read the tick chart and pick off divergence is way easier looking at the Klinger Volume Oscillator, do you have that on this platform? I do not have futures data because TD, for some reason won't ship it to NT. I'm married to NT so unless I can recreate in ToS I will have to move an account or open another new one.

That said I'll post a pic for you to look at if I can.

Here is why Im typing at you.

That "sell" on the top chart off the divergence outside in from above sd2 should be a lock. Especially if that is during busy hours.

I wonder about the bounce off lower sd2 and the reject at vwap too, lets see what KVO said there.

So, if you care to look at that and have a dialogue, cool. If not no worries as I'm not into imposing my hallucination over yours.

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Old December 3rd, 2016, 11:53 AM   #140 (permalink)
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Yeah, I can't...


get back to any good futures data. I will try to set it up in ToS, but that is a new world and I'm not that bright.

Dan

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