tag:blogger.com,1999:blog-847353783015972405.post487678128573456689..comments2023-12-05T23:36:32.393+00:00Comments on ElectronicLocal: Trading Every Day to Make a Living: Part 4Electronic Localhttp://www.blogger.com/profile/10539999419310383613noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-847353783015972405.post-75681852530397655432011-01-20T10:00:04.013+00:002011-01-20T10:00:04.013+00:00ES Trdr, I look at every major swing hi/ swing lo....ES Trdr, I look at every major swing hi/ swing lo. You decide what's major.TF is the chart you're trading.Electronic Localhttps://www.blogger.com/profile/10539999419310383613noreply@blogger.comtag:blogger.com,1999:blog-847353783015972405.post-44680053733526286212011-01-19T17:48:46.072+00:002011-01-19T17:48:46.072+00:00okay, thanks!
Now what swing H/L do I use to set ...okay, thanks!<br /><br />Now what swing H/L do I use to set them up? On what TF?ES Trdrhttps://www.blogger.com/profile/15993163569999690596noreply@blogger.comtag:blogger.com,1999:blog-847353783015972405.post-14563494521978346982011-01-19T17:11:32.229+00:002011-01-19T17:11:32.229+00:00ES Trdr, The fib is 127.2 and the second line is a...ES Trdr, The fib is 127.2 and the second line is about 10% less. It's GOLD.Electronic Localhttps://www.blogger.com/profile/10539999419310383613noreply@blogger.comtag:blogger.com,1999:blog-847353783015972405.post-15243377273086592792011-01-19T16:43:16.537+00:002011-01-19T16:43:16.537+00:00Hey EL, great posts, thanks!
A question though if...Hey EL, great posts, thanks!<br /><br />A question though if I may please:<br />How do you arrive at those ES 117 and 127 fibs specifically?ES Trdrhttps://www.blogger.com/profile/15993163569999690596noreply@blogger.comtag:blogger.com,1999:blog-847353783015972405.post-25608707841010818032011-01-19T15:42:54.206+00:002011-01-19T15:42:54.206+00:00Thanks EL. Any plans for post going forward specif...Thanks EL. Any plans for post going forward specifically on execution ie getting in at as favourable a trade location as possible? I know you wrote a few posts on how range bars help you with this. I often find my self "right" but poor entry = heat = sweat/stress for me. The worry is giving me wrinkles before my time and I need my looks to pull in the ladies! Many thanks.SpiBoknoreply@blogger.comtag:blogger.com,1999:blog-847353783015972405.post-20483595369327798772011-01-19T11:47:56.380+00:002011-01-19T11:47:56.380+00:00Daniele, how much to lose before you quite can als...Daniele, how much to lose before you quite can also be back tested. How you do this depends also on the opportunities in a particular market. The Euro currently has about 40 oppotunites a day. A losing day usually occurs when there is chop during much of your session. The 80% was without context but at the cost of low profitability. I then rely on HT to provide the profitability I need but use Flo to catch all the entries. As far as sizing goes, if I have a bad trade location from Flo I may immediately scratch part of the trade to reduce size, especially when the mkt stalls. HT is to make sure i catch all the opportunities in a uniform way. It pushes me to trade as the position appears and i have to deal with it. Very different to pure auto trading but has many benefits.Electronic Localhttps://www.blogger.com/profile/10539999419310383613noreply@blogger.comtag:blogger.com,1999:blog-847353783015972405.post-39938491541123704832011-01-19T11:37:56.574+00:002011-01-19T11:37:56.574+00:00I agree with Ross: very useful post.
I'm aski...I agree with Ross: very useful post.<br /><br />I'm asking myself a question: when you stop a losing day? I mean, if you catch the target of 300$/day you stop your trading for the day. But how many $ you have to lose to recognize that you are in a losing day? <br /><br />And in the 80% win rate in these example included the context or just the back testing of setups?<br /><br />I'm also thinking to old post where you talking about importance of sizing the trade with the trade location and the context.<br />how match these two aspects?<br /><br />Thank you<br />DanieleAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-847353783015972405.post-53155189670213938282011-01-19T03:40:56.634+00:002011-01-19T03:40:56.634+00:00Jeff, that's the first scale out point.
Nick, ...Jeff, that's the first scale out point.<br />Nick, Haha, I wish. We each have a finite threshhold of "pain" that reduces as we get older, I think. Just as "speed kills", "size kills". I am continually working on my discipline an increasing size, just like everyone else. Focus and discipline is something we all have to work on every day.<br />SpiBok, I change range bar size depending on how fast or slow the markets are and how fast or slow I want to trade. I use 3 ticks more to scalp or when the markets slows down. It's all about not seeing noise but seeing the flow.Electronic Localhttps://www.blogger.com/profile/10539999419310383613noreply@blogger.comtag:blogger.com,1999:blog-847353783015972405.post-65303016904441040092011-01-19T02:33:40.873+00:002011-01-19T02:33:40.873+00:00Awesome serious of posts, very helpful.
Thanks!
R...Awesome serious of posts, very helpful.<br />Thanks!<br /><br />Ross.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-847353783015972405.post-20940345083075735762011-01-19T00:55:13.676+00:002011-01-19T00:55:13.676+00:00Hi EL
I notice you have changed some of the perio...Hi EL<br /><br />I notice you have changed some of the periodicities on your charts? 6E from 5 to 6 and ES from 5 to 3 ticks respectively. Is this just due to the fact that the 6E has been moving a lot more and vice versa with the ES? What makes you adjust this?SpiBoknoreply@blogger.comtag:blogger.com,1999:blog-847353783015972405.post-19834766487821965962011-01-18T19:33:11.555+00:002011-01-18T19:33:11.555+00:00Hi EL,
I notice you draw your fib lines quite ofte...Hi EL,<br />I notice you draw your fib lines quite often but I can't seem to get an idea of where to draw them on the Euro/6E...could you give us more info on that? Thanks so much for your sharing so much great info!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-847353783015972405.post-79786972655378304572011-01-18T19:25:40.045+00:002011-01-18T19:25:40.045+00:00Hi EL, A question if I may. Please dont take this ...Hi EL, A question if I may. Please dont take this as 'doubt'. It isn't, just a question(dream?) that passes through the minds of many:<br />ES is a very scalable market i.e. you can trade 1 lot just as easily as 500 lots during RTH. Given your profitability, and considering margin requirements to trade 1 contract, what do you see as stopping you, over time, to simply building position size to 500+ lots, and being one of the richest men in Europe (maybe you are??)?<br /><br />Cheers,<br /><br />NickAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-847353783015972405.post-71801738019377185532011-01-18T17:15:54.715+00:002011-01-18T17:15:54.715+00:00Thanks for the detail. I do have a question. When ...Thanks for the detail. I do have a question. When you list $112.50 average win/contract, is that calculated based upon the profit of all contracts with your current multiple contract trading, or is it actually the average made upon your first contract sold (to match what someone trading only one contract would make)?<br /><br />Thanks in advance. I've recently becoming a trader, and I'm current working toward CP. Your writings have certainly helped, as I derive my own trading strategies.Jeff Carrollhttp://www.becomingatrader.comnoreply@blogger.com