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Blackgrey45 Journal

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  #11 (permalink)
Cools81
Melbourne, Australia
 
 
Posts: 24 since Jul 2022
Thanks: 12 given, 20 received

Interesting. Can you elaborate with pics? or explain why a 3 tick stop and why only one trade a day?

3 tick stop has me intrigued.

Cheers.

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  #12 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Platform: Transact
Broker: Infinity
Trading: ES
 
Posts: 292 since Jul 2022
Thanks: 356 given, 222 received


Cools81 View Post
Interesting. Can you elaborate with pics? or explain why a 3 tick stop and why only one trade a day?

3 tick stop has me intrigued.

Cheers.

3 ticks is the maximum amount I want to risk per day. I suppose I could trade one contract of the MES and risk 30 ticks a day in that instrument, but I like trading the ES. Just a personal choice. Sorry I don't have pics because I don't use charts. I use the DOM and an Excel spreadsheet.

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  #13 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Platform: Transact
Broker: Infinity
Trading: ES
 
Posts: 292 since Jul 2022
Thanks: 356 given, 222 received


Current ES volume: 1.198 million

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  #14 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Platform: Transact
Broker: Infinity
Trading: ES
 
Posts: 292 since Jul 2022
Thanks: 356 given, 222 received

ES trade for 10/13:

1 contract traded
Direction is short
Entry @ 3564.50
Exit @3566.25
Loss of -$87.5


I lost more than my typical 3 ticks. When my stop was triggered the liquidity disappeared and it lost a lot in slippage. There are no excuses but that is what happened.

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  #15 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Platform: Transact
Broker: Infinity
Trading: ES
 
Posts: 292 since Jul 2022
Thanks: 356 given, 222 received

3.2 million ES contracts traded today

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  #16 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Platform: Transact
Broker: Infinity
Trading: ES
 
Posts: 292 since Jul 2022
Thanks: 356 given, 222 received

ES Volume @1:12 EST: 1.94 million

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  #17 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Platform: Transact
Broker: Infinity
Trading: ES
 
Posts: 292 since Jul 2022
Thanks: 356 given, 222 received

ES breached 3600 again.

ESZ2 contract volume @3:21pm EST - 2.29 million

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  #18 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Platform: Transact
Broker: Infinity
Trading: ES
 
Posts: 292 since Jul 2022
Thanks: 356 given, 222 received

Very nice rally in the ES today.

ESZ2 contract volume @12.52pm EST: 1.25 million

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  #19 (permalink)
 blackgrey45 
Marco Island, FL
 
Experience: Beginner
Platform: Transact
Broker: Infinity
Trading: ES
 
Posts: 292 since Jul 2022
Thanks: 356 given, 222 received

Two ES trades today:

1 contract long, [email protected], [email protected] for a -$12.5 loss
1 contract long, [email protected], [email protected] for a -$12.5 loss

Also traded the 6E
1 contract long, [email protected], [email protected] for a -$6.25 loss

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  #20 (permalink)
kamaiu
Singapore, Singapore
 
 
Posts: 14 since Oct 2022
Thanks: 1 given, 13 received



blackgrey45 View Post
Two ES trades today:



1 contract long, [email protected], [email protected] for a -$12.5 loss

1 contract long, [email protected], [email protected] for a -$12.5 loss



Also traded the 6E

1 contract long, [email protected], [email protected] for a -$6.25 loss



It appears it is statistically stacked against you for 1-3 tick stop loss in the ES, but letting a winner run all day. That would mean you would have to perfectly pick the low or high of that trading session. Your RR would need to be greater than the ATR of a trading session. Your risk of ruin is likely 100%. Death by a thousand cuts.

1-3 ticks is more market makers / high-frequency land in todayís ES market. Scalping less than 4 ticks would require a stop greater than the reward and a high win rate to make up for that extra initial risk. The market can go 3 ticks in milliseconds and pop right back. This is easy work for a market maker.

You can also add more contracts on the MES. 10 = 1 on the ES. You are trying to swing trade and need to size your position according to a reasonable stop like a few ticks above/below a swing high/low. That could be 10, 20, 40 ticks away. If itís too far for your taste, then itís just not a good trade to take.

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