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Trading the Micro Contracts


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Trading the Micro Contracts

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  #31 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Trading: MES, MCL, M6E
 
Posts: 100 since Jul 2022
Thanks: 112 given, 64 received


danks View Post
Sounds like something that can be automated.... what do you think? which platform are you using Sierra?



You are right, my system could probably be automated. Can a trailing stop be automated? I do like manually entering my trades though.


I am on the platform from Infinity.

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  #32 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Trading: MES, MCL, M6E
 
Posts: 100 since Jul 2022
Thanks: 112 given, 64 received

Forgot to post my trades yesterday. Here it is, 4 trades in the MES. I missed a good 50 point move in the SP, kind of bummed about that.



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  #33 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Trading: MES, MCL, M6E
 
Posts: 100 since Jul 2022
Thanks: 112 given, 64 received


Done trading for the day. Here's the results. Got to trade for a solid 3 hours. I work nights/early mornings and get home at 1pm.



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  #34 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Trading: MES, MCL, M6E
 
Posts: 100 since Jul 2022
Thanks: 112 given, 64 received

Just wanted to talk a little about my thinking for trades. My strategy relies mostly on bank roll management. Yes I do use trends that occur during the day and almost all of my trades are counter trend trades( buy low sell high) but most of my effort goes into my exits. I determine a suitable stop loss order before I enter the market. My stop loss is usually 5 to 10 ticks. For winning trades I utilize a trailing stop, so the profit potential is very high. I will stay in winning trades that have not triggered the trailing stop until the end of the day. I rarely hold trades overnight.

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  #35 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Trading: MES, MCL, M6E
 
Posts: 100 since Jul 2022
Thanks: 112 given, 64 received

I am tweaking my strategy a bit. I am going to go forward with a limit order to enter the market at all times. Therefore, I will either be in a position or have an order to enter a position. I am going to use a 2 tick stop loss each time I enter the market. This will lead to greater volume of trades, I am estimating I will be making 30 to 40 trades a day. When and if a trade turns positive I will utilize a trailing stop. If the trailing stop is not hit I will exit the trade at the end of the day, not holding anything overnight.

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  #36 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Trading: MES, MCL, M6E
 
Posts: 100 since Jul 2022
Thanks: 112 given, 64 received

Did exactly what I set out to do today. Completed 30 trades across MES, MCL, MGC, and M6E. Here are today's trades resulting in a $43 loss not including commissions.


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  #37 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Trading: MES, MCL, M6E
 
Posts: 100 since Jul 2022
Thanks: 112 given, 64 received

Plan for tomorrow: put on about 30-40 trades. Going to trade MCL. MCL price is much easier to think about than other markets such as MES. Using a 2 or 3 tick stop loss on each trade.

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  #38 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Trading: MES, MCL, M6E
 
Posts: 100 since Jul 2022
Thanks: 112 given, 64 received

The MES has had relatively small ranges these past two weeks, making it impossible to capture +60 point profits. I have had to settle for smaller winners like today with a 29 point winner.



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  #39 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Trading: MES, MCL, M6E
 
Posts: 100 since Jul 2022
Thanks: 112 given, 64 received

Calling it quits a little early right now. I missed the 50 point MES move from 4255 to 4305, a little bummed about that.



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  #40 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Trading: MES, MCL, M6E
 
Posts: 100 since Jul 2022
Thanks: 112 given, 64 received



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