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goodoboy
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Everything posted by goodoboy
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I have it now, thank you so much. Looks like evening star pattern forming on the 15 min chart right at the r1 pivot.
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Thanks, but no picture showing.
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You are so right! There is a lot of probability per trade. Just having an indicator (IMO) is certainly not enough from my limited experience. The indicator is just one energy factor to support the trade. I really think the best way to learn is a sim account and trade with what thinks work and then trade with real emotion. Challenge myself to make feel confident per trade and reach a certain profit level. Afterwards, go live.
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Thank you for response. I will note these thoughts. Yes, I committed, although I work full time and trading is also full time for me when off work and during my spare time. practice practice practice for me,
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Thanks for responding. Appreciate your comments alot. I been busy thinking and took some es trades today. I trade ES cause I think I have some good experience with ES. Also, it follows the SPX which gives me a peek hole on the market cause I follow the SPX as well to monitor my long term stocks. Also, I am considering looking at wheat and corn later next year, but its ES for now. Very good comment and I added this in my notes to think about while I am practicing. Its a full time job practicing and watching the slos. I am practicing to see what works for me each day. I think its about what works for me, I keep you updated Correct, once I am in the trade, I play close attention. I have no problem at all with breaking even. of course I need continued work on stop placement. Thank you for the advice, and I hope its so much simpler than it looks, but I doubt that just yet. Right now my focus on making sure I know what I am doing and practicing sim and live on what methods are reliable for me. I want learn from reading, only from daily practicing. I will get the hang of it. I can make it and believe highly in myself! And will keep you updated.
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I exit too early and took 2.5pts. I should have waited for retest of 1354 atleast.
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Took at long at 1349.50 after 1347.50 area held and the 15 min Slow Stochastic gave buy signal. 2.25 stop. Target is 1354 to see if the buyers can take out this level and test the gap again. Reasons 1. in a uptrend 2. 15 min slowstoch just crossed 3. support at 47.50 4. morning star on 15 min at the 47.50 area.
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Thank you, I need to read into volume profile over the weekend.
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Yes, thats right. I was looking at the 61.8% retrace from last week high to this week low as well. Its in the 1356-1358 area as well.
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Well, I notice the buyers and sellers responds at the pivots. The price either goes up or down at these levels. So I like to treat these pivots as support and resistance levels for targets and buys.
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Thank you TheNegotiator and DbPhoenix for responding. I will certainly respond in about 2.5 hours, have to head to doctor now. Thanks.
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Out ES at 1356.25. After I saw the bulls was targeting the 1354 area the volume profile sent yesterday (thank you for that chart), i waited patiently. The next area was a gap fill on 1356, so just took it off there.
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long 1350.25 from the pivot of 1350 as support. Target is 1354, stop 3pts. buying on pull back with the trend.
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Thanks for replying and your comments are helpful. That's all I needed was just a little advice and some direction to start learning. Yes, I listen to all webinars I can get my hands on and continue trying to see what works for me. Good advice, I am also starting trading on simulator with real emotions. I challenge myself to make 3x margin, before attempting to go back live. Also, detailed stats of my trading and what approach I used and mental thoughts what I was thinking. Simplicity works best for me. Thank you
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Thanks, No, I am content with my results, although they are not good thus far, I can do better. I just want to make sure I am taking the right steps to do better and only I can answer that. My results are my fault and mainly due to: 1. Lack of experience trading the ES future contract. 2. Not trading real emotions from simulator before trading live account. 3. Chasing after missed entry. 4. Stop too small, stop too big. 5. Getting mad after a loss and playing Mr. Revenge. 6. And not taking risk on trades that I think is good opportunity, risk vs reward. 7. Lack of preparation. So I am working on those issues above. I would like to know if this is how everyone started out. Thanks
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Thanks you Db. I basically trade the ES now based on technical analysis (ie, support, resistance, Fibonacci, Calculated Pivots, Channels, Trend lines, moving averages, chart patterns, etc.). I do the following in a nutshell: 1. Setup my charts and find all support and resistance on the 15 min chart. 2. Decide the trend of the day and trade off the 1st retrace. Be patient. 3. Look for a support or resistance to trade on. Depends on market context as well. 4. Practicing using the 15 and 5 min slowstoch and RSI for entry. 5. If I get a good entry, I try my best to let ES ride up or down far as possible. Adjusting my stop accordingly to reduce risk once in the trade. Trading one contract. 5. Stick to risk and money management. I have some rules I follow for my self as well before I take a trade. Right now, I struggle on entry and needs start defining my target risk vs reward before trade. Also practicing with the slow stoch for entry trades as well. I also want to read more on Volume profile. Also, posting my trades on the emini thread helps as well. All over the internet, I read about traders having trade setups they use. So now I am thinking I need one as well. Thanks,
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What does equities bots mean?
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Yes, thanks. what does the IBL 1330.50 mean? Just from looking at your chart, it appears that sellers shorted from the 1340.25 area and then start covering those shorts at the 1326.50 area. Even though its low volume that area means something. Just thinking outloud to myself.
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Thanks for info. Why would #2 happen?
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For some reason the 1330 did not move for like one hour and this price correspond to the chart you provided that was very interesting area. I am thinking buyers and sellers were equal at this price. Does that sound about right?
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Thank you for the comment. And good advice. I agree with what you are saying and will consider the following 1. Use simulator until I find a setup that works for me. 2. Don't leave simulator until I can atleast make consistence profit (atleast 3k in profits) with a bit of confidence. I think this is a good challenge for me. 3. While using simulator use real emotions decisions cause the longer I stay in there, no real money made:). I like this step 4. Keep listening, learning, thinking and having fun. 5. Once live account trade, trade one contract until I make 3x margin. Most importantly, keep posting trades here with evidence of why I took the trade. This will keep me discipline.
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IMO, high volume means that buyers and sellers thinks the area where high volume occurs is fair place to buy or sell. Low volume means that buyers and sellers thinks the area where low volume occurs is not fair place to buy or sell. Correct me if I am wrong please
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Thank you so much. Yes this thread is awesome for getting learning and good opinions and suggestions. Very good comments and suggestions you made. And I like the statement above. What you mentioned above makes since, nothing wrong with listening to traders but be weary of all the rubbish out there. I read alot, so learning is no problem for me. Thanks for your input.
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I post this in the wrong forum thread. Sorry. long 1335.25, stop 2pts, buying with the trend from strong move up over night. Bought off retracement. Out 3.5pts I bought this as soon as the bell open and retraced back 1335 area with 2 point stop just at the pivot point of 1333.25.
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Thank you so much for posting this. Good study material.