attempting ES futures

This is a discussion on attempting ES futures within the Trading Journals forums, part of the Reception category; For ES traders, I recommend that you read the book entitled The MEJT System by Dr. Jeffrey Tennant. It's a ...

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Old Sep 19, 2011, 2:14am   #41
mtt
 
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Re: attempting ES futures

For ES traders, I recommend that you read the book entitled The MEJT System by Dr. Jeffrey Tennant. It's a helpful time based system. I also recommend that you think in terms of fibonacci numbers.
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Old Sep 19, 2011, 12:40pm   #42
 
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Re: attempting ES futures

piggybridges started this thread +320.16

Another winning day. Even though it feels 'wrong' it seems to be best for my account if I just stop for the day when up a 'decent' amount.

Just watching now for the day.
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Old Sep 20, 2011, 11:44am   #43
 
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Re: attempting ES futures

piggybridges started this thread Currently up $135.20 this morning.
Seem to be going through quite a lucky patch.

I'll upload my statement later. I may or may not carry on trading today. Not sure.

This journal is really really quiet, though.
I notice most other journals are people spreadbetting smaller accounts as opposed to trading futures. Maybe that's why?
Not certain i'm gonna carry on for too much longer. We'll see.

Anyway, best trade for me so far today was a CL long for 20 ticks.
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Old Sep 20, 2011, 2:43pm   #44
 
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Re: attempting ES futures

piggybridges started this thread +$445.28

Turned into a rather good one again, and stopping now.
If I was to carry on trading, in my experience, it would just guarantee me giving most of the profits back!

Just watching for the day, now.

I feel very overdue some losing days, more like how things were going a few weeks ago when the journal began!
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Old Sep 21, 2011, 12:19pm   #45
 
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Re: attempting ES futures

piggybridges started this thread -$129.72

Probably gonna stop for the day here at a guess. First losing day in a little while at -129.72.
Still up over $600 so far this week though.
Would have been a very good day in fact, but the Euro Bund Future put a serious spanner in the works.

I don't think anyone actually reads this journal, but I'll post any updates later if i happen to make any more trades.
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Old Sep 21, 2011, 5:26pm   #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, 5:53pm   #47
 
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Re: attempting ES futures

piggybridges started this thread
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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, 7:00pm   #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, 7:55pm   #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, 9:37pm   #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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