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ES intraday 'swing' trader


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ES intraday 'swing' trader

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  #11 (permalink)
London
 
Experience: Intermediate
Platform: Sierra Charts
Broker: CQG
Trading: ES, CL
 
Posts: 578 since May 2016
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Gm all

I have other work commitments today so will not be looking at screen so much but will post some levels of interest later.

I have long bias in ES and CL. HTF CL looks like could push into $50 area, so will look for positional trade setup.

Have a good day.


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  #12 (permalink)
London
 
Experience: Intermediate
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Target is 47.05

Then look for longs - trend continuation, depending on PA.

Will post chart later.

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  #13 (permalink)
London
 
Experience: Intermediate
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Trading: ES, CL
 
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DaxyMcDaxFace View Post
Target is 47.05

Then look for longs - trend continuation, depending on PA.

Will post chart later.

my stop is .92 so rr ~1:2.

Not looking good.

Edit: stopped @.92 -30t

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  #14 (permalink)
London
 
Experience: Intermediate
Platform: Sierra Charts
Broker: CQG
Trading: ES, CL
 
Posts: 578 since May 2016
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Hi

This is my daily sheet. I will try to get this behaviour/actions as intuitive through rinse/repeat process as quickly as possible, so hopefully wont need it after a while.



As mentioned in opening post, the bottom section was bastardised from @wldman version, link on post #1. Its still WIP, as it seems is everything else!

Have a good day.

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  #15 (permalink)
London
 
Experience: Intermediate
Platform: Sierra Charts
Broker: CQG
Trading: ES, CL
 
Posts: 578 since May 2016
Thanks: 1,065 given, 444 received

Heres a cpl of ES charts in prep for today. Bias is long so will be looking for pullbacks into support/confluence levels.

P&F ('ATH' - i am using this abbrev as all trading hours apols if confuse with All time high).
-some key areas of support marked



Price just bounced off that 2196 level. Confluence at 2192 with weekly vwap.

And 30min chart:



Confluence at 2184-87 levels.

Good luck.

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  #16 (permalink)
Legendary Market Wizard
Chicago Illinois USA
 
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for a step in the right direction. May I comment in a way that shares my perspective on this? Dan


DaxyMcDaxFace View Post
Hi

This is my daily sheet. I will try to get this behaviour/actions as intuitive through rinse/repeat process as quickly as possible, so hopefully wont need it after a while.



As mentioned in opening post, the bottom section was bastardised from @wldman version, link on post #1. Its still WIP, as it seems is everything else!

Have a good day.


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  #17 (permalink)
London
 
Experience: Intermediate
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Trading: ES, CL
 
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wldman View Post
for a step in the right direction. May I comment in a way that shares my perspective on this? Dan

please do comment Dan, I need as much help as possible!

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  #18 (permalink)
Legendary Market Wizard
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better to ask than to lay stuff out and piss someone off for no benefit.

Just from the metric it is hard to tell what specific rules or trade set up "scoring" you have in place. There should be specific criteria. It could be a confluence of non-colinear technical indicators with a specific trade trigger. When looking for short term directional moves based on technical analysis the more defined the better...mostly because it allows for a better review after the trade is closed. This lets you adjust based on data, not "feelings". So it seems like you have made a checklist of elements that you need to see?

On the part taken from my example you changed kill losers when they are small to kill losers when they are wrong. Do NOT give yourself that kind of latitude to judge losers, they are losers, you must kill them when they are little. Quantify a specific amount. I have seen guys in the beginning of their attempt to screen trade short term price moves kill trades at as few as two or three ticks. That might be too tight especially for ES, but I would encourage you to kill the loser little. "wrong" is subjective, frankly at this stage for you subjectivity is probably an enemy.

Look, I get it that markets are different on different days. Volatility and volume and news etc.. Perhaps then make a loss protection rule based on some factor of the last (x) period average true range. This method was, I believe, one of the original "Turtle" rules and it takes conditions into effect...but it does it arithmetically and assigns a value. When you advance and become sophisticated in your approach you can build a statistical model. Of course that guarantees nothing, but it allows you to be "evidence based" in your approach to entries and exits. In my opinion you want objectivity to rule the day. Ultimately you should be taking setups where a very high percentage of the time price goes X in your favor before it goes y against you. IMO, at a minimum this should be 3:1. Down the road, you can learn how to press the hell out of winners to allow huge gains, essentially with "house money". If you could turn a one lot into a five lot and have say ten ticks already booked with a net open stop to book another ten ticks...I mean you'd do that till your balls fell off, right? So it is essential to have an eye for the longer term. Right now I think you help yourself if losers are maybe often and small but winners are encouraged and nurtured.

Hope that helps...I don't want to bomb your thread.

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  #19 (permalink)
London
 
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wldman View Post
better to ask than to lay stuff out and piss someone off for no benefit..............

thanks for spending time posting - will answer in full later, bit busy next couple of hours.

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  #20 (permalink)
London
 
Experience: Intermediate
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Posts: 578 since May 2016
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..long 2 lots...will post detailed reasons/charts later.

lots of confluence, tick div, vol came back in etc.

happy to add 1 more @ 2191.

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