Making a Living with the Micros - futures io
futures io



Making a Living with the Micros


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one sstheo with 118 posts (873 thanks)
    2. looks_two Sandpaddict with 18 posts (30 thanks)
    3. looks_3 Cutloss with 10 posts (5 thanks)
    4. looks_4 Plankton with 7 posts (24 thanks)
      Best Posters
    1. looks_one sstheo with 7.4 thanks per post
    2. looks_two 4ptzTradr with 4.3 thanks per post
    3. looks_3 Plankton with 3.4 thanks per post
    4. looks_4 Sandpaddict with 1.7 thanks per post
    1. trending_up 14,192 views
    2. thumb_up 1,007 thanks given
    3. group 83 followers
    1. forum 188 posts
    2. attach_file 184 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Making a Living with the Micros

(login for full post details)
  #181 (permalink)
Cutloss
Midway florida
 
 
Posts: 238 since May 2021
Thanks: 66 given, 116 received

Interesting. Can you also mark the lowest volume at the same time within that same bar?

Reply With Quote

 
 
(login for full post details)
  #182 (permalink)
Cutloss
Midway florida
 
 
Posts: 238 since May 2021
Thanks: 66 given, 116 received

Again I never traded this stuff but it looks like a high probability trade when the dots are on the wick?

Reply With Quote
 
(login for full post details)
  #183 (permalink)
 sstheo 
Holladay, Utah, USA
 
Experience: Intermediate
Platform: Multicharts
Broker: AMP/CQG
Trading: MES, MYM, MNQ, M2K
 
sstheo's Avatar
 
Posts: 279 since Oct 2012
Thanks: 189 given, 1,416 received


We just had two strong bull bars on the 5 min volume delta chart



The current bar is red.

The POC on the prior green bar would be my Line in the Sand (LIS) for shorts.

Visit my futures io Trade Journal Started this thread Reply With Quote
The following 3 users say Thank You to sstheo for this post:
 
(login for full post details)
  #184 (permalink)
 sstheo 
Holladay, Utah, USA
 
Experience: Intermediate
Platform: Multicharts
Broker: AMP/CQG
Trading: MES, MYM, MNQ, M2K
 
sstheo's Avatar
 
Posts: 279 since Oct 2012
Thanks: 189 given, 1,416 received


Cutloss View Post
Interesting. Can you also mark the lowest volume at the same time within that same bar?

Not that I know.

I haven't completed my jigsaw training yet, and these charts are certainly related.

In my experience so far, the market is moving too fast to effectively use the 5 min bars and the POCs except for maybe using them for a good stop level.

This is why you have only seen me post the daily volume delta candle up to this point.

I am far from being able to give effective rules for a new 5-min volume delta system, LOL.

Visit my futures io Trade Journal Started this thread Reply With Quote
The following user says Thank You to sstheo for this post:
 
(login for full post details)
  #185 (permalink)
Cutloss
Midway florida
 
 
Posts: 238 since May 2021
Thanks: 66 given, 116 received

I see from a glance and I would rate myself on native American animal tracking status when comes to seeing charts.. obese that after bar range expansion and then a PC yellow dot on a wick it leads to a reversal. Maybe not immediately but solid enough to 1put a trade on..if u get one today after a big range bar and it's on a wick let me know and I'll take the trade live. I like it. Maybe look back a few days and see if it looks like if after large bars and a yellow dot on a wick if I'm the mkt doesnt turn after that and without much distance against you.

You dont need training you should just look for patterns..like oh there's a ton of volume at that price during that bar perhaps they will extend back into it to run close stops..the sky is the limit

Reply With Quote
The following user says Thank You to Cutloss for this post:
 
(login for full post details)
  #186 (permalink)
 sstheo 
Holladay, Utah, USA
 
Experience: Intermediate
Platform: Multicharts
Broker: AMP/CQG
Trading: MES, MYM, MNQ, M2K
 
sstheo's Avatar
 
Posts: 279 since Oct 2012
Thanks: 189 given, 1,416 received



Today was a chop-fest for sure. I actually love days like this with lots of confusion and tight ranges.


(ES 7 tick range bar)


$64 on one micro is not too bad. I still console myself with the idea that it will soon be $640 on one E-mini.

But I know I am not there. Yesterday I tried the E-mini again, and I really sucked. I still think it will take some time.

Speaking of psychology, what is really interesting to me today... I would have put on larger size, but I kept thinking that the market was going to break out to new all time highs. Either that or tank dramatically because we have not yet broken out to new all time highs. LOL

Yes, the market is a mess that the FED has completely and utterly ruined with easy money policies. We have really gone nowhere for more than two months now!


(Daily ES volume delta)


4250 could be here in a flash.

4050 could be here in a flash.

But if I had to bet, I would bet on the bulls. I am doing much better about considering the bullish case.

On this topic, a friend of mine who trades 50+ ES contracts per trade told me yesterday,
"Why do you think almost no one makes big money shorting? Not to say they can't drive it there, but it is much harder than going UP. The market was made to go up. Always remember that, always. Or get killed. Can someone with a HUGE account short for 10 to 20 points? Yes, of course, but the bounce will be freaky fast, and that is the trade I want. The big money is made on longs man, not shorts. Longs make big money. Shorts do make money, but it is scared money, always scared money."

Okay, so what do I do with this info? Here is someone who has made over $50k in one day trading the ES telling me to consider longs much more often - to seriously trade the long side preferentially.

And I have done the opposite for 15 years - preferentially.

As I mentioned recently - I am up to 50% longs from a 20% previous number. I will try to move this to 60% longs as of now. Let's see where I am in a couple weeks.

I can see all the long trades I missed going back over the past year. I would have been extremely wealthy had I traded long over the past year.

Will the market always go up? No. Could we enter a bear market that goes on for two to three years? Yep. Will I blindly just go long? NOPE. But I will be less hesitant to try longs.

No matter what, I will trade what I see. Right here, right now.

--------------

How to enter longs? I have this nasty habit on longs of entering at the highs, and then immediately triggering a pullback that hits my stop. Of course the price then reverses completely within 3 seconds of the stop and goes on to exceed my sucky entry-- and goes on to my original target. So, I must wait for pullbacks.

The irony is that I absolutely enter correctly on shorts by waiting for pops in a downtrend (or flat market). So what is my problem???? Working on it....

Visit my futures io Trade Journal Started this thread Reply With Quote
The following 6 users say Thank You to sstheo for this post:
 
(login for full post details)
  #187 (permalink)
 sstheo 
Holladay, Utah, USA
 
Experience: Intermediate
Platform: Multicharts
Broker: AMP/CQG
Trading: MES, MYM, MNQ, M2K
 
sstheo's Avatar
 
Posts: 279 since Oct 2012
Thanks: 189 given, 1,416 received


(Daily ES volume delta, with yellow POC hash marks)


I just rolled over to the September contract on the ES.

The red volume delta is clearly pointing down, and has been for the past 4 days.

HOWEVER, the price is up.

Price rules.

Period.

The 20 daily EMA at 4195 is close to yesterday's ETH low. Unless we break the 4200 area, I think we are still bullish on the big picture.

Short term, I will be watching my 5 min chart and my 7 tick Range Bar chart and trying to be profitable both ways.

Visit my futures io Trade Journal Started this thread Reply With Quote
The following 3 users say Thank You to sstheo for this post:
 
(login for full post details)
  #188 (permalink)
 sstheo 
Holladay, Utah, USA
 
Experience: Intermediate
Platform: Multicharts
Broker: AMP/CQG
Trading: MES, MYM, MNQ, M2K
 
sstheo's Avatar
 
Posts: 279 since Oct 2012
Thanks: 189 given, 1,416 received


(15 min ES chart with 5-day hollow gram volume profile, and yesterday's ETH VP also plotted, with OHLC)


Here is the volume profile for the past 5 days and my levels for today.

IF we break below the 5-Day Value Area High at 4233, then we could easily reach the 5-day POC at 4228.50, and even have a good shot at the 5-day VAL at 4218.

But unless the 4233 area is broken, we are in breakout long mode.

Visit my futures io Trade Journal Started this thread Reply With Quote
The following 3 users say Thank You to sstheo for this post:
 
(login for full post details)
  #189 (permalink)
 sstheo 
Holladay, Utah, USA
 
Experience: Intermediate
Platform: Multicharts
Broker: AMP/CQG
Trading: MES, MYM, MNQ, M2K
 
sstheo's Avatar
 
Posts: 279 since Oct 2012
Thanks: 189 given, 1,416 received



Lots and lots of aggressive selling (more volume hitting the bid), as evidenced by the RED daily volume delta bars.

Yet notice the POCs. We had SIX consecutive higher POCS over the last week, demonstrating rising VALUE of the equities.

But something has to give here... Someone will win this tug of war.

So far today the bears are winning...

-------------------




Here are my levels for today on my 15 min chart.

Notice that we did a perfect RTM trade on the daily and weekly. We came back to the Point of Control on both timeframes. I am up $60 so far today on micros on shorts, expecting a pullback to the POCs of Friday and last week.

---------------------


(7 tick range bar ES, with OBV and VWAP std dev bands + horizontal S & R lines)


The market usually moves both ways. 11 am ET, we are getting a relief rally.

What was my signal to get out of my bearish postions?

A. A break above the -1SD vwap band
B. The OBV showing a pretty strong bullish divergence.

Visit my futures io Trade Journal Started this thread Reply With Quote
The following 3 users say Thank You to sstheo for this post:


futures io Trading Community Trading Journals > Making a Living with the Micros


Last Updated on June 14, 2021


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing

Your Trading Jekyll and Hyde w/Peter Davies @ Jigsaw Trading

Elite only
 

Our 12-year anniversary w/ $$,$$$ prizes (check soon)

June
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts