oldcat's daily Es trade, criticize welcomed.

oldcat

5/10
(1) 7:51 short 1622.75  7:58 cover 1625 -2.25
(2) 8:15 long 1625   8:24 sell 1623.25 -1.75
-4

Review:
1. trend range day, should not short at long. Lesson, in trend range day, trend can change without hit major support/resistance
2. the up move is weak , should wait deep pull back, this trade stop out at exact low.otherwise it will hit profit target.

For the week:
-5.25

Things to work on: better exit strategy, be patient and don't have to trade everyday. wait for good setup

股海拾贝

I found in the morning (EST), buy new low and sell new high is a good strategy. Most PRO do this. If the new high/low can not hold in 10 min, fake the failure. And be very careful buy new hight/sell new low in morning.

Three profit trades in the morning


补充内容 (2013-5-11 06:06 PM):
Yes. think this way. In a trend day, these break out will not FAIL! This is a test and confirmation of trend.

股海拾贝

Actually, now I believe, every trend starts with a reversal!

To really trend following in DT business, you absolutely need find the day low or day high.  First you need confidence, the price will not come back, make another high or low. Then horn you skill how to ride on it. it is, after all these years, i realize, what Jessy Livermore have tried to say to us.  

oldcat

5/13
1: 7:00 long 1624.75  sell 7:11 1627.5 +3
2: 7:56 long 1628.5    sell 8:04 1627.75 -0.75
3: 8:14 long 1629       sell 8:25 1627   -2
+0.25

Review:
1. enter ok, exit too early , have change to exit at least 0.5p high.
2.try to trade tight range but low probability
3.trade on gut fell will break out, but resistance is only 0.5p away.missed the next better setup.

Lesson: avoid tight range. always trade on plan with justified reward /risk.

greenback

股海拾贝 发表于 2013-5-11 05:45 PM
Actually, now I believe, every trend starts with a reversal!

To really trend following in DT busi ...

Well said!

To add to this, you may do so when the intraday trend is against the trend on the longer time scale.

oldcat

No trade today. Missed the bull run in the morning and wait for pullback setup, did not get it.
Any idea how to trade this type of market, dig in to low time frame to buy pullback?

西岛老刀

oldcat 发表于 2013-5-13 11:09 PM
5/13
1: 7:00 long 1624.75  sell 7:11 1627.5 +3
2: 7:56 long 1628.5    sell 8:04 1627.75 -0.75

看到了！good job ！
呵呵，学习一下如何发图，交流，，，，

usamonkey

oldcat 发表于 2013-5-14 06:39 PM
No trade today. Missed the bull run in the morning and wait for pullback setup, did not get it.
Any ...

how about buy breakout

foresthill

这是我对今天 NQ 盘后的分析图，上面是 1 分钟图， 下面是 Al Brooks 的 5 分钟加 EMA20, 不过 不是 ES, 而是在 NQ 上。

oldcat

5/15
1: 7:10 short 1646.75 7:23 cover 1646.75 0
0
Review:
think it is range day and shorted at top, exit even for failing to test low.
Plan to go long at 8:50 but hesitated since up resistance.

greenback

oldcat 发表于 2013-5-16 01:31 AM
5/15
1: 7:10 short 1646.75 7:23 cover 1646.75 0
0

Have you explored using trailing stop?

oldcat

5/16
1, 7:10 long 1652.25 7:22 sell 1654       +1.75
2, 8:07 long 1655     8:15 sell 1657.5     +2.5
+4.25

Review:
1. range reversal long, exit early after seeing some bearish action
2. up trend anticipate break out with 2p room to first resistance,exit at predefined target.

Today is first day meet my 4p goal for the day after starting a few weeks ago, hope this is a good start. Thanks for the support here.

oldcat

greenback 发表于 2013-5-16 06:42 PM
Have you explored using trailing stop?

Thanks for the suggestion,I plan to do it after I can trade more than one contract and can scale out 1 at predefined target and another one with trailing stop.
Right now I am trying to get the direction right first with simple decision making process , maximize profit is not the major concern yet.

oldcat

5/17
1. 6:48  long 1654  6:55 sell 1656 +2
2. 7:04 short 1658  7:16 1656.5 +1.5
3.7:42  long 1657   7:53 sell 1655.5 -1.5
4. 8:14 long 1655.25 8:26 sell 1656.5 +1.25
5.8:38 long 1657 8:59 sell 1656.5 -0.5
+2.75

Review:
1.range reversal trade
2. short at 15m resistance
3.long at support assume will break out, should cut as soon as 1657 break down only lose 2 tick
4.range reversal
5. over traded, exceed my max 4 trade of the day.also chased entry , was plan to long at 1656.

For the week +7.25

I plan to switch to YM next week. I heard it is smooth than es and small tick size will reduce slippage.
Will open a new thread next week.

补充内容 (2013-5-17 10:50 PM):
either ym or nq

oldcat

May 22        10:00                                                   Existing Home Sales                          
        10:00                                          Fed Chairman Bernanke Testifies                                                              
        14:00                                           FOMC Meeting Minutes                                                              
May 23        08:30                                   Initial Jobless Claims                                           
        10:00                                          New Home Sales                                           
May 24        08:30                          Core Durable Goods Orders (MoM)