ES EMINI Trading - The gap and others

There was no volume today. I saw something that triggered to take the trade and I took it but didn't feel comfortable with it. Still worked and i got my targets.
 
NFP falls on Friday too this week with no trading so I reckon it's just going to be weird all week dude.
 
hello aversano,

just joined saw some of your gap stuff

the gap u trade is from 415 close est to open at 930 est? or something else?
 
Pat494 said:
May I suggest you only trade gaps when the market is in a congestion area.
Easy to know because a 20 ma is flattish as the market oscillates. A slope indicator is very useful for this
Click to expand...

hello pat

im new

the 20 ma on what time frame; daily, or lower minute scales.?....
 
TRADINGXYZ said:
hello pat

im new

the 20 ma on what time frame; daily, or lower minute scales.?....
Click to expand...

I'm no expert but I find it useful to look at different time frames, not just the one that you intend to trade, although this is the main one.
 
Last edited:
mslcwt1 said:
aversano,robster970

Hi, G'Day, hola ...

You fellas seem to be trading the open on the ES using a gap method. Haven't seen you mention the gap of what? (yesterday's close against today's open?)

Also, price action during that portion of the day is often pretty rowdy. As in wild price swings, no apparent trend but 4 & 5 point price bars, and so on. Yet you don't mention those issues in any of your posts. ???

At any rate, I am also an ES guy and find anything along those lines worth a read.

Noticed mention of the phsycological side of trading. Seems as if I've observed that in myself and have just recently gained some ground in that area.

Also, coincidentally, trading price and volume seem to be winning out with fewer indicators.

Have to agree with you also on time & price being a bit difficult to ascertain what is being portrayed.

I've attached a 5 min chart from Friday 3/19 and the 2 trades I took. Price started running, volume was present, I hit 2 - 1 pt trades. I should also say, I only get to watch the market the first hour or so and the last hour or so.

Putting all those concepts together mentioned above seems to have improved my trading. Of course, now that I mention it, my results will probably tank...

Glad to see your inward retrospect seems to be the guiding principle and being able to react to it in a positive way shows the pursuit of a trader trying to learn and grow.

Can you put up a chart of a trade?

Regards,
Click to expand...

I am interested in gap trading and have researched larry williams oops and have been exposed the "the gap guy", an individual who looks at gaps of open to close and has some statistics to back it up..I have had some success with gap trades but have since moved on...would love to hear what your impressions or feelings are towards gaps?

chris
 
TRADINGXYZ said:
I am interested in gap trading and have researched larry williams oops and have been exposed the "the gap guy", an individual who looks at gaps of open to close and has some statistics to back it up..I have had some success with gap trades but have since moved on...would love to hear what your impressions or feelings are towards gaps?

chris
Click to expand...

Still undecided on gaps.
As a matter of interest what have you moved on to ?
 
TRADINGXYZ said:
have u ever traded oops gap? as discussed by larry williams
Click to expand...

No - I took an initial play from 'Mastering the Trade' and then modified it with a wider stop and a couple of other pre-conditions on the size of the gap and news. It did me well for 6 months but March crucified me as gap closures rarely happened (which is what I rely on).

Hence I'm taking break and will resume gap play when market becomes rangebound rather than the strong trend under low volume state that it's in now.

I don't tend to chop and change strategies; merely refine ones I have to improve risk mgmt and profitability.

I'm just back to longer term trading ES now following trends, breakouts and reversals which is a lot lower pace of life and a bit more considered. If anything, returning purely to this I have realised that I'm probably not cut out for the higher pace of intraday and if anything can see me elongating holding times for positions and probably moving more to position trading.

More bang for the buck.
 
Pat494 said:
Still undecided on gaps.
As a matter of interest what have you moved on to ?
Click to expand...

what i meant is that I really did not have much success with oops style trade and have moved onto other types of trades in regards to the es...but i'm still interested in gaps...just have not been able to find something that consistently works..

chris
 
robster970 said:
No - I took an initial play from 'Mastering the Trade' and then modified it with a wider stop and a couple of other pre-conditions on the size of the gap and news. It did me well for 6 months but March crucified me as gap closures rarely happened (which is what I rely on).

Hence I'm taking break and will resume gap play when market becomes rangebound rather than the strong trend under low volume state that it's in now.

I don't tend to chop and change strategies; merely refine ones I have to improve risk mgmt and profitability.

I'm just back to longer term trading ES now following trends, breakouts and reversals which is a lot lower pace of life and a bit more considered. If anything, returning purely to this I have realised that I'm probably not cut out for the higher pace of intraday and if anything can see me elongating holding times for positions and probably moving more to position trading.

More bang for the buck.
Click to expand...

This is not surprising to me...when I researched this stuff some time ago I saw periods of time when gap plays worked and then periods of time when they did not..i'm sorry to hear that youve had a rough time with them lately...maybe that "gap guy" can be useful for you...he looks at things like where did the prior day close in relation to the range and uses stats to play gaps from open to close

chris
 
robster

one more thing, using news to trade gaps is generally not a good way to approach gaps, its better to use some statiscal probabilities...in general, and imho, making trading decisions for the es from news is extremely risky ...

chris
 
Hi,
i'm brand new...could you possibly tell me where i can find '233 tick charts' for dow e-mini's? also trying to find 10-minute candlestick charts to go back the last two weeks. i have found 10 min candles for the current day, but can't find them for prior days...i appreciate any and all leads :) my e-mail is [email protected]
Thank you! Gianni
 
I use the gap (yesterday's close) as a gauge for my trades,I then use chart patterns, volume and t&s to identify the time of entry. I act cautiously before and after news releases and do NOT base my sentiment on the psychological wave that the news are creating.
 
giannide said:
Hi,
i'm brand new...could you possibly tell me where i can find '233 tick charts' for dow e-mini's? also trying to find 10-minute candlestick charts to go back the last two weeks. i have found 10 min candles for the current day, but can't find them for prior days...i appreciate any and all leads :) my e-mail is [email protected]
Thank you! Gianni
Click to expand...

i have never found tick charts online but barcharts.com might have something useful for candlesticks...here is something i looked up

http://charts.barchart.com/chart.as...i=&ov2=&argj=&argk=&argl=&code=BSTKIC&org=stk

good luck...
 
TRADINGXYZ said:
robster

one more thing, using news to trade gaps is generally not a good way to approach gaps, its better to use some statiscal probabilities...in general, and imho, making trading decisions for the es from news is extremely risky ...

chris
Click to expand...

You assumed I would trade the gap because of the news. The opposite is the case - if the news was interesting to the upside or downside, I would not trade the gap. News told me when to stay out, not when to get in.
 
robster970 said:
You assumed I would trade the gap because of the news. The opposite is the case - if the news was interesting to the upside or downside, I would not trade the gap. News told me when to stay out, not when to get in.
Click to expand...

staying out of the trade when there is significant news sounds good..so you look for a congested, trading range bound market, with flat 20ma on whatever time scale u use and then exit at yesterday close...do u look for a certain minimum gap size to play and what kind of stop do u use..if u dont mind my asking...

chris
 
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