Is it a FULL HOUR, or is it the traditional 50 minutes?
Well, based on some of the remarks I've been getting recently, I may have to get an equity loan on my house, could be a lot of sessions....
There may be more dis-believers on this thread than the other one, cause no one has of yet challanged or even seriously explored her claim/copies of her $8000 per week trading session.
I have seen people on this thread all over someone when even a modest claim of success has been posted.
Hey, anyone trade the sunday nite session of the 6E ?
Doesn't look like much is occuring. Great nite eveyone, wish everyone awesome trades tomorrow!
Last edited by bobbyacim; July 24th, 2011 at 10:18 PM.
QUOTING ITRADE@GOLFE Someones weekly profit/loss should not be of interest to anyone else. If a dollar amount is the only measure of success then you have not even begun the road to becoming a successful trader.
Maybe your right, I think capital preservation over the long run is a better measure of success. Because if your account is blown, YOUR OUT!
I think it was Donald Trump who once said "take care of the downside and the upside will take care of its self"
Last edited by bobbyacim; July 25th, 2011 at 12:40 PM.
Here are 6 screen shots of a live trade I took this A.M. on the emini S&P around 7:30 EST , I usually try to avoid the S&P, but I saw a clear Hidden divergence between the price and BOTH indicators. There is a double bottom(see if you can spot it) and a lower low on the Stoch as well as a lower low on the CCI. This may have been a sign that a slightly larger SL may be in order.
Looked like a good trade:
1. Trend was up- but not too strong as evidenced by the top keltner channel was FLAT also notice a first lower low on price.
2. Stoch D & K turned up from the oversold area and ready to cross- in hindsight I should have waited for a solid cross from the K above the D
3. CCI curled up from the oversold area - maybe should have waited for CCI cross of zero line??
4. The ATR Stoploss appeared ONLY 2 ticks BELOW the Trigger bar; very low risk trade!!!!!!
ENTERED at 1330, keep an eye on the TP at 1332 until screen shot #6!
Took the buy, but not with my usual 5 tick arbitrary stop, NO; I used the A.T.R. stoploss indicator I recently added
Well, kept using the A.T.R stoploss, but I got stopped out anyway. And, as you can see the price did reach 1332 and above. So if my stoploss was slightly larger, I could have walked with 2 points.
LESSON LEARNED: I have just increased the ATR settings from 1.5 to 1.7 on the emini S&P
Any/all critiques are welcomed on this trade...
Last edited by bobbyacim; July 25th, 2011 at 08:27 AM.
That statement is the reason why you should not have been in that trade. It is the classic psychological greed complex that pushed you to try to trade an instrument you are not intimately familiar with. Don't try to trade 17 setups on 9 different instruments, or try to trade random targets of opportunity. Concentrate on 1 (maybe 2) setups on 1 instrument, especially at this stage. Check out cjbooth's thread (the winner of the last futures.io (formerly BMT) thread contest) on trading the 6E as an example.
I have been trading full time for 6 years, I have never, even once placed a trade on the ES. My method was not designed for the ES, I have never tested it on the ES, I have no business trading the ES. That would apply for 99% of the other instruments out there as well.
That'll be $180 for this session
Last edited by monpere; July 25th, 2011 at 09:29 AM.
The following 3 users say Thank You to monpere for this post:
Yes, I see you your point buddy. I only have 2 setups, hidden divergence and my little 3 pin price action setup and i only take the H.D. when it is so clear that it screams out to me (ever since I lost 2 k trading it) and as you can see on the chart, this one was yelling!!!!
This one was my FAULT, for being chessy with my S.L. (perhaps fear)
I am keeping my intregrity, traded with 1 contract only.
Any critique on the setup itself??
by the way, you say you've been trading 6 years FULL-TIME, are you profitable?
Last edited by bobbyacim; July 25th, 2011 at 12:39 PM.
On the ES you usually have to scalp for a few ticks or leave point or two of wiggle room for larger moves. It can easily chop you to death otherwise...
Look at your ES chart. You should have gotten in at the (anticipated) double bottom at 1329. The key is, of course, to know whether to fade those levels or not. Focus on major S/R and leave the randomness to others....
This advice was free, but it was also my last...
The following user says Thank You to Lornz for this post:
What ever happened to paying it back?
This "anticipated" move takes 10-20 years of chart time to discern.
the rest of us have to rely on something called A CONFLUENCE OF EVIDENCE.
I took the trade at 1330 when I saw a confluence of evidence, but it was not good enough because my stoploss was not right.
This game is SSSOOOO tough, cause you have to get the entry, trade management and exit right,... all at the same time!