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TraderEX-CME-ES-Tradovate-one to three tic target.


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TraderEX-CME-ES-Tradovate-one to three tic target.

  #41 (permalink)
TraderEX
 
Posts: 96 since Sep 2018
Thanks Given: 68
Thanks Received: 177

DD-

Feeling way down this morning and went back to sleep. Might be getting a cold so in and out quick and back to bed. market is moving way to fast. Better safe than sorry.

Thanks DD

EX

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  #42 (permalink)
TraderEX
 
Posts: 96 since Sep 2018
Thanks Given: 68
Thanks Received: 177

DD-

The volume is just busting and the trade times are down because of it.

Been red hot for 6 weeks now and way ahead of projections.

Glad we are away from the all time high.

READY FOR TOMORROW.

TY DD-

EX

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  #43 (permalink)
TraderEX
 
Posts: 96 since Sep 2018
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DD-

Stuck at the dentist for 2 hours this morning. What a pain in the ass. Week turned out great and ready for more next week.

TY DD

EX

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  #44 (permalink)
TraderEX
 
Posts: 96 since Sep 2018
Thanks Given: 68
Thanks Received: 177

DD-

Feeling good and well rested. Overnight over 250k and range is 25 ish. Using the VIX, 24.19, to calculate my stop loss.

VIX(points) minus 8 = 64 tics or 16 points. This is a very risky, very rewardy day. Hoping the VIX returns to 12 ish for a more orderly day.

Margin is now $4000.00 and 5 contracts per trade is the maximum play.

Stop loss for the day at $1500.00 so I can play 5 contracts tomorrow if disaster strikes.

No emotions over the larger swings will help in the end.

Surgery soon so plan ahead for the days off upcoming.

TY DD-

EX

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  #45 (permalink)
TraderEX
 
Posts: 96 since Sep 2018
Thanks Given: 68
Thanks Received: 177

DD-

Fast and furious. Went for a small ride but just not good feeling in the gut. First 2 were quick retracements on the monster candle.

3rd trade I jumped early and that's why the ride happened. Thought I saw something but got suckered with a head fake. Had to wait it out.

Good ending to a shaky day.

Continue on VIX relationship with stop loss calculation. Prediction was 80%, can i get closer?

Ready for tomorrow.

TY DD

EX

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  #46 (permalink)
 
cory's Avatar
 cory 
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
Posts: 6,098 since Jun 2009
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vol = momentum but how can you tell which direction?

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  #47 (permalink)
TraderEX
 
Posts: 96 since Sep 2018
Thanks Given: 68
Thanks Received: 177


cory View Post
vol = momentum but how can you tell which direction?

CORY

The ES is my only experience.

You wait until you see it.

As a momentum trader you are looking to get in after the trend starts and before it stops.

Pure momentum trading gets crushed when the market is sideways and kills when trending so stay out of the sideways motion.

Look for breakouts but WAIT until the market trends.

Get in the 2nd, 3rd or 4th consecutive candle in a trend and jump in and out. I get in the second by plan.

I have several plays in my book and my high percentage winner goes like this.

1. Market is sideways(3 or more 5 min candles) and has established a range. Happens all day long.

2. Market breaks out to the upside or downside and candle closes above established resistance or below established support.

3. Very next candle reverses for the beginning part of the candle, say under 2 minutes, and then reverses back. In an uptrend move the second I see 2 green tics, I'm in play for 1 tic, currently with 5 contracts. That's great momentum.

4. check the time as you need about 2 minutes to get in and out for a single tic of profit. You want to be out of the trade before the candle closes as they can reverse severely just as the next candle opens.

So, if the market has broken resistance(stay away from from session high and low) and then turned down after closing and then turned back up after 2-3 minutes, get in on any pullback as long as the candle is currently green.

This is the 1 tic play that originally got me close to break even. I still use it but have also grown as a trader.

My math is better than my English. Follow with more questions if you'd like.

TY

EX

PS I trade off a 55" TV screen and sit about 18' from it. My volume bars are 20" tall. Over time(weeks), I can now see things about acceleration of volume(HFT?) and use that information to enter. When you stretch it out you can see it pulsate. Jumping on huge acceleration of volume closes 1 tic trades in less than a second. Last week I had set for 1 tic profit with a bracket and was so fast I got 2.
That is my edge.

I am now working on getting more than one tic profit per trade. Only been at it for a few weeks.

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  #48 (permalink)
TraderEX
 
Posts: 96 since Sep 2018
Thanks Given: 68
Thanks Received: 177

DD-

Got up late today. Severe back pain last night so trouble sleeping. Getting closer to the operation date.

First two went off just like 1 tic does on monster volume days.

Third trade was right on the S/R and saw some action in the volume and jumped in betting on the breakout and it paid off.

3 trades and a big day.

Ready for tomorrow.

TY DD

EX

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  #49 (permalink)
 
Sazon's Avatar
 Sazon 
Roswell, GA
 
Experience: Advanced
Platform: NinjaTrader
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TraderEX View Post
.....

My math is better than my English. Follow with more questions if you'd like.

Thanks for the information

How do you handle stops?

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  #50 (permalink)
TraderEX
 
Posts: 96 since Sep 2018
Thanks Given: 68
Thanks Received: 177



Sazon View Post
Thanks for the information

How do you handle stops?

Sazon-

Volatility destroys limit orders and eats them for breakfast. Stops are directly related to volatility.

In my perfect ES world, the final volume for the session is 1.125m, and I used a 5 tic trailing stop all day. I participated in the largest volume candles while they were accelerating.

Since we are in huge volume uncharted territory, I'm using my margin account as a stop. Not a proven or probably prudent method but I need something.

From above, the more volume the session will have the more volatility is expected. Widen when higher volumes exist because wider swings are expected(opposite is true). Some days we've had may be better to stay out.

ES offers great liquidity for scalping and that price of that liquidity is volatility.

I found my rhythm by going back to my completed trades for the day and seeing how i could have done better. I found on those 1.125m volume days that if my model was off by 4-5 tics it usually went really against me and that's how I found that particular piece to the puzzle.

It's all about the scientific method. Data collection, analysis...

TY

EX

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Last Updated on December 20, 2018


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