Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Favorite Futures: EMD, 6J, ZB
Posts: 798 since Oct 2009
Thanks: 216 given,
your chart trading skills are amazing,
I didn't see you right click, select, or anything else,
do you have them set hotkey?
pm me, if these details are too good to be publically posted,
I (like everyone else) am getting ripped by the ATM, using the conservative trailing stop.
on just 3 orders today, it saved the bacon many times, but otherwise, they have done 2 things (the algo-rythmic traders / engines)
1) broken their order size down to the average trading range per level/tick so that their huge 700 car orders are broken up into so many pieces that it takes quarters to complete (15min segments in sequence); just look at the long extended rallies from yesterday, almost out of no where
2) they are freely running stops, because of the thin book on ER2 / TF / Russell2000. Using the cummulative feature of the dome, you can see the displayed net total of bids / asks on the 5 levels.
I have never seen such a thin book on TF / ER2, as has been the case. It makes the case for trading it, hard to justify, because of the thinness of the book. For whatever reason, traders have vacated this contract for better shores and deeper waters. Take a look at some of the currencies (your choice), or the crudes, or the big daddy ES and ZN and ZB in comparison.
I was watching yoiur video, and was amazed you traded the chop with success and a protective atm that protected you, although on your trade reports the slippage probably showed you entered / exited same price (essentially traded against yourself), instead of getting that +1.
ok, justsome observations and questions
The following 2 users say Thank You to kronie for this post:
Well, thank you. I do not believe I did anything unusual that I don't typically do except maybe a bit more cautious due to the large moves. Hard to get entries with 5 ticks on TF when conditions are like this.
I don't notice the 'book' so much and I just have a chart open on my other screen that shows me the 440 tick which has chart trader open. It felt like I was trading the CL on steroids which was interesting.
If you want to watch some good trading and someone who may not be a master yet but close, then check out er2wizardhorst on youtube. Horst is my inspiration and he had a tough month in July (still profitable) but he is someone for me to follow for now.
I don't bother thinking about other traders really, just what the charts are showing me and trading what I see. Something a few on here keep pounding into my head.
I think Horst was up like 4 points today in less than 15 minutes. On the ES no less...
Not earth shattering, but something that I can do better from "Trading in the Zone":
I realize that when I take a trade without a true and defined exit then I tend to be 'hoping'. Today, I expected it to go up to a certain level once I gathered the appropriate evidence for the direction. A lot of trades I have taken in the past is that I get sucked into the micro-moment and forget about longer term targets. So, I get into a good pivot, expect 3-4 points, to get 2 and then panic with an exit and not giving any thoughts to the long term movements. Sometimes it goes down for many more points, or others it goes right back in the direction where I caught the pull back.
When I pay attention to the longer term flow, it feeds me what I need. When I don't, I get eaten up or with small wins...
The following 4 users say Thank You to bluemele for this post:
I was concerned the entire trade that I would not be getting the full run as well as I didn't want to give any 'back'. I wasn't technical, thinking of a technical exit (or about 20% was I guess). Once I fix that again and become more mechanical then I will truly bring in more consistency.
I am doing well with an elevated market, whereas my wife does not like this.
The following 3 users say Thank You to bluemele for this post: