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TraderEX-CME-ES-Tradovate-one to three tic target.
DD-
This is my third best month in a row. Absolutely killing it while remaining relatively calm. The "gambler" in me is still simmering but unable to reach the boil. Working hard on that always.
For November, continue starting every Monday morning with max 5 contracts per trade and $4000.00 in margin. By the end of the month margin needs to be at $6,000.00 for a maximum of 8 contracts.
Continue to search for the magic stop loss formula. Currently using the VIX:length of first three major waves(pts/tics)
Currently at an early stage but (1.2[VIX] - 7) VIX=10 12-7=5 Could be the furthest thing from the answer! If it is not the answer I move on and look around. Data collection, analysis...
Be mentally prepared as back surgery is very traumatic. At least the first 2 were. Set up wall projector again so i can trade during my recovery. Could be bed ridden over a month. Prep the house.
Did not belong in the arena today. Ran down over $1500.00 so a shit play! The last trade went against 4 of my filters and I still ended up in. It went sour then turned green and I still watched. Took a 1 tic loss as punishment. Trying too hard not to eat a loser. My history knows that is risky business.
A win is a win is a win. That will have to be today's mantra.
I move on accelerating high volume and that is always with the current trend, happening now within the candle and does not have to be the days trend It's about that moment.
Conversely, I move on decelerating high volume and that is always counter trend.
In either event it is during high volume.
I taught myself by reading anything I could find on any related topics.
I learned all the candle stick formations and then came across a cheat sheet of the most commonly appearing one's and there suggested meaning. Just knowing the basics I feel is worth the small investment in time. There is money for me in the long wick retracement play. Getting pretty good at it.
I learned many of the approaches, candles sticks, technical...and put together a Frankenstein model.
The best place to scalp is in existing high volume right before it takes off for a burst. This is no secret.
The screen shot is the current volume bar right by the side of the candles stick that is live. I use a 55' TV for a monitor. I can see the volume jump and watch what happens to price at the same time in real time. On a regular screen with volume bars 2-3 inches tall, you cannot see anything, or at least I couldn't.
Then it's
bump up(volume bar, a bump not smooth move) and price up(momentary trend) or bump up and price down or bump up and no movement
If you step into the acceleration of volume and have accurately deciphered the simple code
then you apply this to your model. The technique described got me 65-70% winning rate for a single tic of profit(showed direction was correct). I needed more filters which is my model. it is constantly changing as the market volumes change.
The information about the trend before the acceleration does not last very long and the candle takes off in seconds. BEWARE OF HEADFAKES. With practice my muscle memory maxed out the speed necessary to catch the train leaving the station in a short term known direction. Many hours of practice on demo and thousands of paper trades.
I feel better with this answer. The other one was more of an example. This is more general theory.
EX
ps THE SCREENSHOT IS VOLUME AND PRICE WHICH IS A VISUAL OF THE TIME AND SALES DATA. WHEN THE MARKET MOVES UP A TIC WITH 1000 CONTRACTS YOU SEE IT IN REAL TIME AND CAN ACTUALLY USE THE DATA BEFORE IT IS ANCIENT HISTORY-20 SECONDS LATER IF YOU ARE LUCKY.
This is not investing, this is a real live video game for real money and for keeps. HFT is constantly being blamed for the 'negative aspects' to the trading market. I hated the HFT right up until I found a way to hitch a ride on their money train. My mother taught me how to face bullies like HFT, head on, right?
Late start today since I was at Dr's office for pre surgery clearance. I'm healthy enough to be very sick. Same old for over a decade so no big deal.
Way ahead this week and volume still huge but some daylight at abnormal times. Yesterday offered some insight into higher volume days with temporary reprieve's. The conclusion is that it is time to go over all rules that are over 6 months old and check for validity. Possibly a better trader than 6 months ago.
Today, the trades were in my wheelhouse. Three trades lasted a total of 39/60 of a minute. My margin was hardly at risk and the reward was $475.00 minus the fee monster. Selection is the key and always will be.
Heading out to lunch with the boys and ready for next week.
I set a goal January last of $1200/week, or $65,000/yr for trading the ES, emini. I'm basically there at $55,248. October's gain were close to 10k, a record breaker and as a direct result of ridiculous high volume and extremely careful execution. The ES can be very forgiving according to Handle. The ES can be very devastating according to TraderEX. A careful balance is needed.
For November:
Trade a maximum of 5 contracts per trade.
Margin account is now at $6000 but playing as it was $4000(5 max). Going to maximum 8 contracts per trade(6k margin) on 12/1 if and only if margin account is $6000. Breaking even or better from now until 12/1 will be a go.
For last night:
Total shit show. In by accident and it started a trip I wouldn't normally take. If the market range was larger, I would have gotten smashed. I am no longer reactionary to that mistake. I wish I would have stopped after the first trade but didn't(couldn't??). Handle was right, the ES can be very forgiving. That one statement is why trading is so tough. Picked up $437.50 for 25 contracts($17.50 per).
For Today:
VIX is still around 20
Range from GLOBEX is 13.25 pts.
Volume from GLOBEX is 121,000
So, range restricted slightly, volume is back to normal or even a little slower and VIX is recent history high. This combination and the signals they suggest are not clear. With the election so close, thinking it will be confusing until Wednesday the earliest. If today is a lemon then stay out tomorrow.
If the year finishes how it has been, next year I go for the throat. Money has been tight so far but that has come to an end after October's gains. I know that I can trade well but the larger numbers seem to effect me in a disproportionate manner. Can only assume that this time with the gradual increase of contracts per trade, I'll be ready. If not, I'll grind 5 contracts per trade for 1 tic or better.
Wow. I didn't think one could make money shooting for 1-tick targets. "They" said it couldn't be done and I just accepted it. You've expanded my horizons. It's not my cup of tea but I'm rooting for you
TRADEREX-NEXT GENERATION as for what "THEY" say “Cogito, ergo sum.” "I think, therefore I am" Descartes would trade 1 tic.
BROWSE THE TRADOVATE WEBSITE FOR DETAILS.
Appreciate the support and return the good wishes.. I am highly proficient at getting a tic or two. I did one tic only for the last 21 months accept the last few weeks. I am now proficient with regards to order entry ONLY.
Had one go sour(fell asleep) on me last night and waited it out until profitable. Close to getting hammered but it reversed in time and was a winner. When I get in this situation I move my profit target a tic or two further. I see that if the ES reverses back to me there is a good chance it will bypass me because it is showing a big move. More time, more risk, more reward necessary!
Otherwise, I start slow and get ahead a little at at time. Makes it easier to play when ahead some. My stop loss is margin above $2500. Today that was about $3500. Normally, when the volume is "regular", I use a 5 tic trailing stop and a market order.
Because of the election I felt a tighter range than it has been. Fortunately it was ranged somewhat.
Today is best day on my record $2375.00 before the fee monster. I struggle between gambling and a tight ass technician. BIPOLAR TRADER? LOL
Thanks for the vote of confidence, very kind-
EX
The screenshot is 23, 5 contracts per trade. 105 winners, 10 ties and zero losers. The ties come from participating in huge volume spikes. Even with a bracket and market order you get slippage at these times. If you pick the flow correctly you will get positive slippage. I've gotten as much as three tics around 935 EST. (i stay away from the opening now, for the most part).
I am technically a baby boomer(1962) but think like a millennial.(out of the box).
