goodoboy

Thanks for sharing good analysis.

Thank you kindly for the time and effort. Good work, and good reading.

Leave this guy alone man. Some of us is enjoying the analysis. There is too much arguing and foolish on this forum. Let the guy do his thing and save the comments for after the market close so we all can focus.

Thanks for posting, I appreciate your comments. Keep going. Lots of traders took the short today. I missed the rally, all I had to do was risk the breakout above Monday highs for a LONG, and it would have been a good day for me.

Thank you. What do you mean by Globex low? Is this the low of the day? Thanks

Thank you alot buddy. Your analysis is helping me. Thanks. Please continue

Thank you for posting your analysis. Please continue posting whatever you have. Thanks.

Thank you Phantom for the comments and advice. And everyone comment. I agree with you concept, trading with a systematic or mechanical approach seems more understanding and strategic. One thing I have on my side is patience. I am not in a rush to take a trade, that is not a high probability of me winning. I manage to get 2 points this week. That's a start to recovery! I will continue to put in the hours of reading here, watching webinars, and practice daily/nightly. Right now, besides the technical and finding a method that works for me, I focus more on risk vs reward and waiting for the right trade for me, until I recover. Thanks,

Thank you all for the time and effort in replying. Really appreciate it and it help me. My approach as of now is to learn by practicing. Right now, I am just following the ES price action, resistance, supports, trendlines, and chart patterns to make decisions to buy or sell. Along with being very patient and letting the trade come (and not chasing and rushing) to me with pre-planned stop loss and exit targets. And some moving averages to locate short trend changes. No indicators, except for looking at the SPX on the larger time frame chart. I am only trading one contract on a live simulator with real money. Also, order Al Brook new book Trading Price Action Trends.

Thanks, What do you mean by discretionary trading? Some one who just trades with no real method, just instinct?

Thank you all for the time and advice. Well appreciate. Do you use Market Internals (Breath, Advancers/Decliners, Ticks,etc.) as an market view before taking trades?

Thanks, I like this advice. Hard to develop a plan if I have no idea what the plan details. I want to trade the ES and begin playing with on charts to see what happens and continue learning here, practice and experimenting. I am in no rush. But I do like this advice.

Good points and advice. I shall refer to these comments from time to time. I am still deciding on learning plan. There seems to be alot of different thoughts from traders from scalping and swing trades.

Thank you kindly for the comments and advice, its a good introduction. Can you explain a bit more your comment about "confirmation"? What do you mean confirmation exits off to the right of the screen? Thanks

You are definitively correct about. I stop trading live for now and take some time on a learning approach.

Thank you for the comment. Good analogy.

I want to trade ES to be profitable and because I also swing trade stocks as well. I work full-time and as well and ES follows the S&P as well. In addition, as a source of additional income. But from what you guys mentioned already, I need a plan to learn and plan to trade the ES that fits me. So thats what I am working on now. I am digging more into Al Brooks method on price action and monitor the ES on how it moves on the 15 and 5 min charts. So far, I a have become more patient, so thats a good start. Thank you all for the help.

Thank you so much for your blunt and realistic comments. You are right, no mastering the ES, its my daddy, I am the as you said above. For now, I am keeping it simple and just observing the price action of ES and working on my plan for learning. I want be paying anyone for any coaching or mentoring at this time. Learning on my own what works for me with the advice and reading here. I am not using lower indicators, only 5 and 5 min chart and price action and resistance and support and get what points I can with money and risk management.

Thank you for your efforts and time. I really appreciate it.

Thanks for the time and advice. Really appreciate it. I only read one book so far, The Discipline Trader, which is very good. I have some capital set aside for learning and practicing. I decided to hold off on real live trading until I have a learning plan and trade execution plan. I will still be actively analyzing the SPX and ES chart for speculation and then some back testing at night to see if what I speculated was correct. Sort of like a football coach reviewing game film. I wanted to read from more experienced traders so atleast make sure what direction to take and think you guys/gals helped me. I need a plan and learning material! I will start by searching this forum for more information for newbies. Thanks all for the help. Also, why do you say "Forget about indicators." Thanks

LOL, what do you mean do I know how to trade? Can you be a little more detail? What defines if someone knows how to trade or not? Whats the criteria?

Thanks buddy for the advice. I did answer my own question.

Hello, I been trading the ES for nearly 1 month using Apex platform. The results so far has been a max loss of $700. My back ground is mostly buy and hold stocks for long term based on fundamentals, but for the last 6 months, I been studying technical analysis and money management. My approach to trading the ES is evidence based technical analysis by identifying overbought/sold, chart patterns, support and resistance, and fibs retracement and then I either go LONG or SHORT on the ES with hopes of 3+ points. I only use MACD and RSI. The losses occur, when I am not being patient or not verifying everything, before taking the trade. My question to experienced ES traders is what do I need to learn to with ES to be more efficient? Should I get a mentor/coaching? Introduce more lower indicators in my evidence. Currently I am reading Candlestick Charting Explained. Any advice is welcome.