Scalping e mini ES

[samuelhogg]

Futures on Interactive Brokers. Also use Fxpro.

 

[Simex]

today, after taking a 1000$ hit on my account at the open through a combination of not being prepared and f*cking up, I scalped 1-2 contracts back to flat-of 29 trades, 26 made money

often it's like this, I don't seem quick enough to trade the opening hour, but can scalp continuous profits when the market has more defined shape. What about others?

 

[wackypete2]

I don't trade the ES too often anymore, but I also got beat up early in the trading day. This is why I don't do much es trading anymore. I found I can more consistenly trade stocks open to close.

Peter

 

[bnaimy]

I trade the ES consistently and being doing it for some time now, i trade based on support and resistance.

If you want to make money or learn how i trade, then have a look at the
live priceladder(DOM) that i have running everyday while i trade. Its live tick by tick and
i also comment while i trade and what i look for. So whenever i am in a trade, you can see where i enter and where i have my stop and my targets.

Not sure how many people that do what i do, but havent found anyone else who shares their live DOM. It dont really bother me that others have a look, so feel free to drop in.

Before anyone flame, its 110% FREEEEEEEE muhaaaaaaaaaaaa :cheers:

www.navigtrading.com

Its a simple and poor site, just got ot the live video stream and watch it there, there is also a very simple chat right below it. I dont attend the chat, but its for you guys who wants to talk amoungs eachother. Feel also free to read my daily rant on my blog :jester:

I take around 1-4 trade pr day, so there will be times i wont be doing **** for a long time, so patience is key her. If you hear me talk and blabber, its because i am talking to my skype buds that i am helping.

Enjoy, and as always its free and open for everyone :smart:

Daytrading rooms can kiss my ass, most are phonny and they never trade themself, just alot of talk but you never learn anything. I guess its a private agenda i have against them LOL

Take care fellas and goodluck with your trading

Regards
Bashir Naimy

 

[bnaimy]

I find scalping the ES very difficult to do. My problem is that I can do pretty well for a while being extra careful, but inevitably I get lulled into overtrading and giving back profits. I don't have that problem with currencies for some reason. Lately I've focused mostly on currencies and equities, avoiding the ES. I'll probably come back to it and try to figure it out. It's definitely a challenge...

I seem to have the opposite problem, i find the ES to be a breeze and currency a pain in the ass. I tryed currency once and that was it for me, and i headed back to what i do best, and that is ES.

I guess everyone have their own flavor :cheesy:

With kind regards
Bashir Naimy

 

[Daytrade_Victor]

I trade the ES consistently and being doing it for some time now, i trade based on support and resistance.

I agree. I never tried currencies, but I find scalping the ES pretty easy using support and resistance and a just few other indicators. 1-4 trades per day here as well, but more like 1-2 trades on most days. I only go in when it looks good to me and some days I don't even trade. I know folks who over-trade and it can be kind to them on some days but be disastrous on otheresl. To each his own, but I find that being patient is more beneficial in the long run.

 

[Tryer66]

Hi

I don't trade e:minis but am interested to know more about them (trading FTSE). Anyway, regarding sticking to your rules as I have had the same problem and still do this from time to time - I think most people do (they call it sabotage).

You need to write your rules out and decide to stick to one method and test this first - they recommend 30-50 trades to see if it works (I keep rewriting my rules if I start wavering away from them as I find this helps to focus). If you read one of the Dr Van Tharp books this may help or any motivational book (NLP) as they mostly say the same things. They suggest that if you tell yourself not to do something you are inevitably going to do it - like a naughty child. So you need to tell yourself what you want to do. The psychology side of trading I think is the hardest part.

I hope that helps a bit.

Does anyone scalp the es intraday consistently?????

1-5 points a day. I have a strategy that works but cannot seem to stick to my rules..
any feedback?????? love using bollinger bands as a oversold overbought indicator.

 

[monkeyboytony]

I traded Emini's almost Everyday using this strategy
http://eminiscalper.blogspot.com/

I also tweet my trades live using this startegy on twitter.com/eminitos

Regards,

 

[bnaimy]

A suggestion, if anyone is having problems with scalping the ES, i suggest that you drop both time and tick based charts. They have a tendency to give alot noice that will only make you tired and it will end in mistakes. Take it form someone who have been true with time and tick charts, and i find rangecharts to be optimal in most cases.

I suggest using 1range (4tick) range bars, this is a very good chart for clean
price moves without the noice. You will have a eayer time seeing the support and
resistance levels,and it will require less work on the eyes.

As for trading the ES, its alot easyer then the NQ or YM, as to why people say ES is harder beats me. I find the emini es to be alot of manageble.

As a finaly hint, and i wont go to much into it, i might perhaps post a few videos about it later.For those having a hard time finding support and resistance, or think they have support and it ends up not being it i suggest using something called Volume By Price.

This will make finding S/R a breeze, however there is zero to little information on this, no wonder cause it works perfectly. And what information that is out there is not usefull, just theori at best. There are a few changes that needs to be done to it however, as using it in its baseform is just not optimal.

I will post a video regarding this in the coming week on a seperate thread in this scalping section.

I have attached a picture of my trades from today using this, just a visual excamples so u know what i am talking about. Dont mind the red and green dots for now, thats simple custom orderflow indicator that i use for direction in the market, will come to that later.

If the entries look random, i assure you they are not, its a good reason for each
and every trade. I will go indepth into this later, been a while since i contributed to the forum....so this will be a gifts to the scalpers out there struggling, in my world i see 2 ES points as a scalp.

Simple framwork for my system is this,i know it
sounds crazy but it work..ill explain:

1:Buy when there is heavy selling in the market(alot more agressive sellers comitted at the lows)
2:Sell when heavy buying in the market (alot more agressive buyers committed at the highs)

Something for the scalpers out there to ponder and figure out
until i post more.


With kind regards
Bashir Naimy

 

[TraderQI]

If you can't seem to stick to your rules, the thing to do is to explore psychologically why this is so. What does a "loss" mean to you? Why are you scalping to begin with instead of doing longer holds? Do you hate losing profits? What kind of rules do you frequently break? Do they have a general underlying psychological theme about them? These are the questions to be asking yourself if you know you have an edge you can't stick to.

Best of luck.

 

[amps101]

I use Keltners for the same...except entering on the close of higher/lower candle, not when the high/low broken..... rathcoole, how do you manage stop loss and how do you move stops for profit taking?

Appreciate this thread...

Just wondering if you are still using this KC setup...??

 

[amps101]

i use a 10-period with a 1.25 offset, but even the standard settings on your charting software should work ok.
the KC's work similar to Bbs but they are actually based on ATR, average true range.
So to my point of view, when price closes outside eeither the upper or lower KC channel, it indicates that price has moved beyond the typical average for that period.
It's by no means certain that price will revert to mean (reverse) immediately but it's a good early warning signal.
Assuming price has been heading down and we're looking for a reversal back upwards - once a bar closes outside the lower KC I then place a Buy Stop at the high of the candle body.
If price continues to decline, my Entry won't be triggered.
Once a new bar is formed, still outside the KC, I then move my Buy Stop Entry down to the high of that candle body.

easier to understand by diagram I think:

bar A closes outside lower KC so place Buy Stop at high of body (762). This does not get triggered.
bar B also closes outside lower KC so move Buy Stop Entry down to high of that candle (758)
That also doesn't get triggered.
bar C closes below lower KC so move Buy Stop Entry down to 756.50

That price then gets triggered by candle D and you're in Long.

minimum target is far side of KC at E (about 765.50) although you'd try to keep in the trade until an opposite signal occured, the reversal at candle F (771)

so following the Long there is a new reversal short. Can you spot the subsequent Reversal Long ?




btw, i like to use on 15 min and 60 min candlestick charts ....

Just wondering if you are still using this nice and simple KC set up...??

 

[amps101]

Great thread! Been looking for this!

I (try my best) to scalp e mini's intraday spreadbetting using MACD, Bollinger Bands, Support & Resistance and my own in built uncanny systematic methodical way to mess it all up! Quite possible to pick up some very nice moves which i do often but something in me refuses to just happily take my profit and leave it at that! I often clear a few hundred quid in an hour or so and I know I should just be happy with hitting my daily target and go do something else... but i don't and I usually end up giving it back and starting from scratch! When will i learn! Greed and fear eh guys! But i,m getting better, just banked 250.00 and I,m watching the candles rise but i,m resisting!!! I,m not going back in!!! Even though it's broken resistance and rising... i,m gonna watch it... but i,m not going to give it back. Gota preserve my small account for tomorrow!
I divulge. Sorry! can get lonely watching candles go up/down and sideways for a few hours!
So, I spreadtrade(bet) the emini and have the FTSE daily chart running alongside and the correlation between the SPX500 daily and the FTSE 100 DAILY is pretty uncanny.
I use ETX for my trading platform and I use IG for my advanced charts but i can only get the SPX500 daily chart. Cant get an emini chart? Is there one?
I use MACD divergences/crossovers in conjunction with my Bollinger Bands in conjunction with my support/resistance levels I put in and adjust on 3 timeframes ( 5min, hour and daily) and I use trends. I look at stchastics ( sometimes) for O/B o/s levels but i pay more attention to my support/resistance levels and bands to be honest. They seem to be more relevant to what price actually does. I,m not actually sure what type of trading this is called? Sometimes I scalp ifmi,m not certain, mostly my trades last a good 15 - 25 mins as I watch MACD rise with my price and reach a resistance ( or drop to a support) I don't tend to trail my stop.
I find If i add to my winners I can hit my daily target ( 250 STERLING) in a few hours on a good day ( more than a few hours on a bad day) I usually start off at a pound a decimal and add to that up to 5 pound only when the move is confirmed.
Doing this on my laptop, have a window for my platform and windows for my charts. One day when i,m a real trader I will get multiple ( bloomberg type) screens! For now I have to suffice with what i have.
When i have enough capital I plan to trade emini contracts proper but for now spreadtrading is a great learning platform and if i lose ( which i do less than i win) i know exactly how much is at stake at any given time. My stops are pretty tight and i try not to get stopped out, rather cut my losses quickly when i get it wrong.

Well guys as i write, i see the SPX500 is at 826.40 and retracing (my emini on ETX is showing 823) So i am glad i didn't go back in and try to nick a few more ticks!

I see and I forget
I hear and I remember
I do and I understand

Chinese proverb.

Still trying to do the understand bit!

Peace.
Renato

Just wondering if you are still using this technique/setupin today's markets....??

 

[johnny197145]

love using bollinger bands as a oversold overbought indicator.