+4 points ES today. I did not adjust size to 2 yet. I will wait until I have enough excess margin to stand two losses without having to reduce size. This was an opening range bull break after price had a bear break of the pre-mkt range (lower range ...

Flag trading the trend

I always felt that strategies are born out of our observations of price action, and that back testing was tool to check whether what we were seeing (during the ocurse of our observations) was in fact worth believing. It is all very "scientific ...

Flag trading the trend

I used to use MACD quite a bit about 10 years ago (I cannot believe how long ago that was!) and a trader from another forum now defunct taught me a set up he called "the MACD Kiss" Rather than explain it, I circled those points on the chart where ...

Flag trading the trend

If everyone who dreamed of day trading would back test as part of their preparations, there's be a lot more successful day traders than there are. Great work ethic, Erasmus!

Flag trading the trend

The ema band is RHorner/Sonicdeejay inspired. The color candles are my interpretation of an RHorner suggestion that she uses in Metastock (I do not have Metastock so I am doing a bit of "guesswork" as to what her indicator is in fact ... indicating ...

Flag trading the trend

Another price action concept that is really an extension of S/R is that of a trading range (market is either trending or ranging). For example, the ES had a bear trend last week. It looks to have put in at least a temporary trend reversal at last ...

Flag trading the trend

A very important principle, in my opinion - if you see my ES trade today, the opening range broke to the bear side after the top of the opening range founr resistance at what had been support. This is key to trading successfully, in my opinion, ...

Flag trading the trend

10 points ES today. This puts the account at a level to increase my size to 2 contracts tomorrow. I think rather than a daily update I will just update how this is going at the end of each week for now. image This is a five minute chart that I ...

Flag trading the trend

YM and NQ are both nice traders. I know several traders (real life in person and not "internet" friends) who only trade the NQ every day. They do quite well. In fact, my best periods are when I focus on one instrument to the exclusion of all others. ...

Flag trading the trend

Bull flags can give nice risk:reward profiles as the stop loss is the low of the flag and the profit target is a test of the last high. image In my opinion, failed flags (flags that breakout but reverse through the stop loss) are very often good ...

Flag trading the trend

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Flag trading the trend

Viewing the 5 minute ES as a line on close, you can see that the bull flag breakout contained a 2B pullback long set up: image

Flag trading the trend

Computer and physical connections were fine - this problem was on the broker's end, not mine.

Flag trading the trend

I had to leave some on the table today as my platform kept freezing and I had no idea whether I was up or down for 20 to 30 seconds at a time. So I just put a 4 pont limit in and hoped for the best during one of the brief moments when things were ...

Flag trading the trend

I meant to focus on price and not on indicators. Volume, imo, I largely irrelevant to my day trading. Support/Resistance, price action patterns, trendlines, channels, prior highs and lows are the basic concepts about which I speak. I merely meant to ...

Sonic R. System

I just see that ES has dropped almost 30 handles in the last 45 minutes. Good grief! LOL I remember when these moves would almost always happen during RTH.

Flag trading the trend

I agree, D, and I will say I felt very good to get back to where I did from where I was at mid-day. Funny thing is if you look at the ranges that the ES has covered this week on a daily chart, it looks like I should have killed it. However, much of ...

Flag trading the trend

I was not in synch with the ES today until almost 2:30. At one point I was down 6 or 7 points +commissions to my broker. Then I hit for a 6.25 point win, which leaves me down -1.35 points, or -$67.58 in dollar terms. It is difficult trading a one ...

Flag trading the trend

I'm calling it quits for my little account right here. My two day total is a net of 8.06 ES points for $403.26 and a balance of $2403 and change. Right now my plan is to trade one contract per $1500 in available margin. So I will do one lot until ...

Flag trading the trend

Awesome jtrade! I love to see a trader with a plan. For 2016, I have added an additional goal to my trading activities. I have this little $2k futures account with which I've done basically nothing of any note. In the past I've toyed with the idea ...

Flag trading the trend