attempting ES futures

This is a discussion on attempting ES futures within the Trading Journals forums, part of the Reception category; You are wrong =) I am reading this journal everyday, i don't trade with technical analysis like you seems to ...

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Old Sep 21, 2011, 4:26pm   #46
 
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Re: attempting ES futures

You are wrong =) I am reading this journal everyday, i don't trade with technical analysis like you seems to but still it's great to see someone getting better everyday, keep it up.

I am just a newbie and i'm not going to trade the US products(Doesn't fit my schedule unfortunately) but i'll start a journal in a few weeks when i'll start trading the eurex products.
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Old Sep 21, 2011, 4:53pm   #47
 
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Re: attempting ES futures

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Originally Posted by sound-of-revenge View Post
You are wrong =) I am reading this journal everyday, i don't trade with technical analysis like you seems to but still it's great to see someone getting better everyday, keep it up.

I am just a newbie and i'm not going to trade the US products(Doesn't fit my schedule unfortunately) but i'll start a journal in a few weeks when i'll start trading the eurex products.
Nice to know that there's some life out there, and i'm not just completely talking to myself!
Maybe people have been quiet because I have been doing well and they assume that I don't need any help!? Guess I'll find out the answer during my next bad patch, lol.

So what will you be trading?
And what will you base your trades on if not technical analysis? Fundamentals I guess?
Anyway, look forward to your journal.
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Old Sep 21, 2011, 6:00pm   #48
 
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Re: attempting ES futures

I'll trade the bund or the bubl, depends on what i will be most comfortable with. I still need to wait at least a week before my account gets open, so i can't even trade on demo right now.

No technical analysis and no fundamentals =) Just the order book with time and sales, looking for momentum.

I have never really been interested enough in technical analysis to get good at it.

I just think big players move the market so scalping via the order book suit my personality very well. Not sure at all if it's going to work since it will be my first experience in trading but it's going to be a great challenge. So i will not give any advise to anyboby but it could be entertaining for people.
I'll give you the link to my blog/journal when it will be online.
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Old Sep 21, 2011, 6:55pm   #49
 
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Re: attempting ES futures

piggybridges started this thread Very good, S-O-F

I think I mentioned at the beginning of this journal that I have all kinds of theories and methods that I wish to test. Trading from the orderbook was one of them ideas, along with all kinds of other things like statistical models, sentiment analysis, a more fundamental approach etc etc etc.
I just happened to start with a more technical approach first, as i had spent lots of time studying and it had been doing well for me in demo.

As a result, i'll be sure to keep an eye on your journal when you start it.

I found it very hard to get any consistency when I attempted (in demo) to trade from the orderbook/time+sales window. Maybe I didn't really know what I was supposed to be looking at, or how to correctly interpret the information.
But I do plan to re-visit it at some point, mainly because it seems to be the purest form of trading and I like the logic involved with trading off of the information that actually drives price
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Old Sep 21, 2011, 8:37pm   #50
 
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Re: attempting ES futures

=( i wrote an answer for like 15 minutes and my internet connection got interrupted and i lost the message.

I was saying as of now you should stick with your method, it looks like it works pretty good since last week. But you already made a good point it all comes down to what to be looking at. You could be watching the depth of market for a year and you still wouldn't know what the hell is going on if nobody explained it to you.

I have been fortunate enough to find someone who helped me to see the most important thing in a DOM, the volume. Again i don't know if it's going to work out for me, but it will be fun to finally be able to trade live, i have watched the markets for quite a while now.

When i started getting interesting in trading, i read a lot of stuff about technical analysis, because this is unfortunately the most popular form of trading on the web. I tried to picked it up, but i just couldn't, i would come back everyday and be like "There is no way i'll be trading this way, i just don't like it". It doesn't have to be fun, but it has to be interesting. I didn't like it because it looked like there is no real thought process, a basic forex system would look like this :"When this moving average cross this, you do that etc....". I come from an online poker background, i wanted to find something more concrete. I think i found what i was looking for in the order book. There is no set rules, no stategy, it all comes down to what you see, get in when you see momentum, get out when you see it slowing down.
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Old Sep 22, 2011, 12:51pm   #51
 
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Re: attempting ES futures

piggybridges started this thread bit of a battle so far this morning.
First trade lost around $150 on the ES, then made about $100 on oil, then made $150 back on the ES, so up around $100 so far. Bit scary though. Most markets being crazy with some huge moves all around. GBPUSD completely crashed! ES down 30 odd handles. madness...
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Old Sep 22, 2011, 2:43pm   #52
 
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Re: attempting ES futures

piggybridges started this thread +$187.70

Stopping here. +$187.70 for the day.
Market is a little too lively for me I think, so not gonna push it today.
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Old Sep 22, 2011, 2:50pm   #53
 
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Re: attempting ES futures

Quote:
Originally Posted by piggybridges View Post
bit of a battle so far this morning.
First trade lost around $150 on the ES, then made about $100 on oil, then made $150 back on the ES, so up around $100 so far. Bit scary though. Most markets being crazy with some huge moves all around. GBPUSD completely crashed! ES down 30 odd handles. madness...
Don't blame you. I took out 11 ticks this morning (4:10AM EST) on the ES and I'm going to give it till the 10 am news and then if it stays like this, call it a day.

When it gets this thin - it's not the same market. You certainly can't use the same stops.
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Old Sep 22, 2011, 3:09pm   #54
 
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Re: attempting ES futures

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Originally Posted by DionysusToast View Post
You certainly can't use the same stops.
Yes, I missed out on what would have been a very nice trade on oil this morning. 'Typically' the sort of setup that it showed me meant my risk would usually be around 20ticks, but in this instance it would have required a stop of about 70 ticks! I passed on it. It would have given me about 100 ticks, but not to worry. I cant reduce size fruther to allow me to take such trades in increased volatility as im only trading 1 contract at a time as it is!
Still, just happy to have another winning day.
Let's see what tomorrow brings.
Up around $760 for the week, so it'll take quite a bad day to take me negative for the week.

Do feel as though my luck is due to turn though!
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Old Sep 23, 2011, 1:58pm   #55
 
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Re: attempting ES futures

piggybridges started this thread +$37.78

Possible that I'll stop for the day/week here. I was up a few hundred earlier, but gave most of it back.

Anyway, time for my WEEKLY RECAP:

WEEKLY PNL
M +320.16
T +445.28
W -129.72
TH +187.80
F +37.78
TOTAL = +861.39

RUNNING JOURNAL PNL
WEEK 1 = +162.16
WEEK 2 = +1122.73
WEEK3 (this week)= +861.39

STARTING BALANCE = 8000
CURRENT BALANCE = 10146.28

My friend I mentioned in my opening post had blown his 8k account at this point, so IM doing better than him! Too well, in fact. Most definitely some 'reversion to the mean' in my account soon. Still feel fortunate to have been doing so well.

The guy I sometimes mention who I occasionally skype with has been netting about +15 ES point per day this week. He drives me crazy. I just dont understand how someone can be so good and literally call every swing top/bottom in real time. He also shorted last last night at 1137 or so which he closed recently for about 18 handles!! Makes me sick, lol
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Old Sep 23, 2011, 7:22pm   #56
 
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Re: attempting ES futures

piggybridges started this thread would be tempted for a long here at 1127.5, possibly. Just watching now though. Not risking anymore this week..
Besides, since mainly trading other things as opposed to the ES, results seem to be better.
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Old Sep 23, 2011, 7:52pm   #57
 
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Re: attempting ES futures

piggybridges started this thread would have been stopped on that, which comes as no surprise considering my skype buddy went short at about the same time!
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Old Sep 25, 2011, 1:58pm   #58
 
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Re: attempting ES futures

piggybridges started this thread Lost a lot of money at the casino last night, so would like a good week!
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Old Sep 25, 2011, 5:23pm   #59
 
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Re: attempting ES futures

Enjoy reading your journal. I am a new ES trader, so I'm interested in your progress. It would be great to see what else you are trading. Keep up the posts. We are reading them!
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Old Sep 25, 2011, 11:50pm   #60
 
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Re: attempting ES futures

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Originally Posted by Tommytrade2000 View Post
Enjoy reading your journal. I am a new ES trader, so I'm interested in your progress. It would be great to see what else you are trading. Keep up the posts. We are reading them!
I'm mainly trading Oil(CL) and the eurobund(FGBL). The whole point of the journal was to trade the ES; My results definitely seemed to improve when I stopped trading it, although I keep coming back too it. I'm working on some stuff at the moment. it's a kind of choppy market. Certain things seem to be working with it so far in my experience. Maybe it's simply a matter of certain markets having certain characteristics (for whatewver reason)and exploiting them.....

PS - I may have lost a boat load of money at the casino last night, but I've made back some money tonight at the pub quiz! 5th time i've one in 7 attempts!
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Last edited by piggybridges; Sep 26, 2011 at 12:59pm.
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