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ES intraday 'swing' trader


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ES intraday 'swing' trader

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  #31 (permalink)
London
 
Experience: Intermediate
Platform: Sierra Charts
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Trading: ES, CL
 
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JohnS View Post
Good job with your trades! I look forward to learning more from your posting!

Thanks for the comment @JohnS, feel free to ask any questions.

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  #32 (permalink)
London
 
Experience: Intermediate
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Hmm my charts are duplicated when i look via the app. Pretty sure they werent when previewed/posted on the pc.

Is that cos theyre embedded? Will check with admin later.

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  #33 (permalink)
Legendary Market Wizard
Chicago Illinois USA
 
Experience: Advanced
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for the lengthy and detailed response.

I get it now but did not understand before that you are discretionary. That changes a few specifics, but in general the process is the same. I too, go back and forth across method (meaning mechanical) and discretionary periods. This is something that I struggle with. I came to BMT to learn programing and find help with coding a few methods into a black (grey) box system. I have not given up on that but lacking specific attribute or consistent qualified help, it gets very frustrating.

Yeah man, you change or create a daily checklist however you need to to suit your best outcome. I see that you are building a stats based (evidence) model. That is exactly correct.

I have used atr based stops but again you recognize the faults and the dangers of laying out hard stops. I do not do that...rest limits or even server side stops at the broker. The mechanical system I was working on is constantly calculating stops and targets based on all kinds of incoming data. Then when appropriate a market order is generated to stop, adjust risk or take profit.

On taking loses...yeah I had to learn to love my losers and acknowledge that they are just a part of the process AND provide data that will refine dynamic entries...very very hard for a "floor" guy. Conversely, pressing winners was something that had to be learned because the out size position seemed more like risk than opportunity.

So it looks to me like the issue here is you...emotional response. Everything you laid out has the hall mark of someone that understands. What are you getting wrong, not seeing or responding badly too?

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  #34 (permalink)
London
 
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....sooooo I just achieve double the subscribers (total now 2) and I find out the earth shattering news that theres a new ES thread for all types of traders....wth!

Just kidding, if for some odd reason you have come here and havent yet seen this thread, get over there now:



...it will be better than here.

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  #35 (permalink)
London
 
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B/O of the 2148/2180 consol area.......




ETH knocking on the door to go higher after tight range so far, if it pulls back a little tempted to go long small size.

Edit: Dax/Europe stocks are dumping and pulling US down, so will leave.

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  #36 (permalink)
London
 
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Hi Dan.....


wldman View Post
I have used atr based stops but again you recognize the faults and the dangers of laying out hard stops. I do not do that...rest limits or even server side stops at the broker. The mechanical system I was working on is constantly calculating stops and targets based on all kinds of incoming data. Then when appropriate a market order is generated to stop, adjust risk or take profit.

This is interesting, I have 2 other methods which I believe can be automated easily, I will check out your posts for more info. I really need to sort this out.


wldman View Post
On taking loses...yeah I had to learn to love my losers and acknowledge that they are just a part of the process AND provide data that will refine dynamic entries...very very hard for a "floor" guy

I hear you, have a few ex floor (LIFFE) friends and some have had similar difficulties. Also they not used to not having free money whent hey used to be able to buy the bid and sell the offer!


wldman View Post
So it looks to me like the issue here is you...emotional response. Everything you laid out has the hall mark of someone that understands. What are you getting wrong, not seeing or responding badly too?

Good question and yes, emotional response is right. I am fearful of making excuses - its for me to work out and this journal hopefully will help, but it could be a combo which I have alluded to before...

~FOMO - I traded prior using DOM, itchy finger plus years of TA reading means its very easy for me to justify an entry
~low confidence in method (not enough fwd testing). This is a step in right direction - in a more accountable envt.
~frustration - being right but stopped out as too tight a stop or poor entry and taking too much heat. This may lead to revenge trade.
~accountability - I trade much better when I had someone to report to. Now I report to myself, learning the self discipline part. And posting my pnl/trades here will help.

As mentioned these dont happen daily - but enough to hit pnl. Structure hopefully helps, talking to ppl eg you also hammers it home.

I will provide some examples at later date. A cpl of weeks ago I gave back days target from having too much risk on a late trade, it was a setup but the RR was poor, and I averaged down to where RR was then great & where entry 1 shld have been but I was full size and it now stunk. Boom.

Thanks again for your time.

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  #37 (permalink)
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DaxyMcDaxFace View Post
I am done for the day, my target isn't absolute ~10-20pts a day trading 1-3 lots:

Trade 1 - long (2 lot) early into open looking for bounce off vwap (far too early), poor entry bailed for -3pts.

Trade 2 - short (2) 2200s v low r/r (Prev high - 3 ticks) tick div +7, target was 94 - was very mindful of the 96 level which held, but never really retraced - was keen to put back on as was A_down by this time. Maybe if I had full size on would have left a runner.

Trade 3 - long (2) 2192.50 great entry sold 2196.75 +8.5.

And a cpl of actual scalps. 1 worked v well (it was a reload effectively for a swing) but again only 1 lot and took off at first trouble area, too hasty.

Take it easy people.

Taking a look at HTF trade 3 (1st red arrow, exit green) and then reload at 2nd red arrow how dumb am I to take this off at day vwap (the reload that is)? This HTF imo shouts out day high test at least. Note to self - need ot look at HTF whilst managing position.


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  #38 (permalink)
London
 
Experience: Intermediate
Platform: Sierra Charts
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Trading: ES, CL
 
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I just took this long ES scalp (1 lot) @98.50 exited at ETH Vwap 2200.50 for 2 pts, and lost 0.5pts trying it earlier. My stop was below the low so RR 1:2.

The level was yest RTH vwap and prev support, the Dax/CL was dumping and yet this held strong with added vol, however I waited for Dax to turn and I cld still get long with decent RR.



I am quite pleased with this measured scalp.

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  #39 (permalink)
florida
 
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DaxyMcDaxFace View Post
B/O of the 2148/2180 consol area.......




ETH knocking on the door to go higher after tight range so far, if it pulls back a little tempted to go long small size.

Edit: Dax/Europe stocks are dumping and pulling US down, so will leave.

I agree. There may be climactic top with very low volume. Here is a chart I took from another site

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  #40 (permalink)
London
 
Experience: Intermediate
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Posts: 578 since May 2016
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pramadas View Post
I agree. There may be climactic top with very low volume. Here is a chart I took from another site

thats interesting - so its effectively saying big money guys have left the room - for now? Low volume can still take us very high fwiw.

from what website?

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