Trading ES (Q1 2004)
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china white
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Hampy - thats entirely YOUR odds management and pain level. if u want to go on 60/40 odds and dont care about 5 pts stop loss yes. I prefer tho to go on 80/20 odds when tick gives those odds to me with 0.3% trailing stop.
but that is like i said YOUR style. thez nothing wrong either way. if u ask my honest opinion 🙂 we use tick to skew odds in our favour, so why not wait for it? 🙂
but that is like i said YOUR style. thez nothing wrong either way. if u ask my honest opinion 🙂 we use tick to skew odds in our favour, so why not wait for it? 🙂
china white
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if SOX b/o from this upward channel (after a failed bear flag target) we'll fly to the sky imo
http://www.ttrader.com/mycharts/display.php?p=19757&u=chinawhite&a=China\'s ES&id=915
http://www.ttrader.com/mycharts/display.php?p=19757&u=chinawhite&a=China\'s ES&id=915
Good point, China. I don't consider that I have a trading style as yet, it's something I need to develop as I place more trades.
I do know however that I prefer odds in my favour, so I'll probably go for the patient option and wait for the Tick div.
BTW, neg div forming as I type, but like yesterday, since 10am tick low has not been below 0, so I shall not be taking it.
Also, a big thanks for all your help over the last few months.
I can see already how important it is to take the plunge and trade for real with a proper data feed. I've had Q charts less than a week yet I've learnt loads already and it makes it even more useful to be able to go back over all the ES threads and relate it to what I've observed in real time.
I 've also seen how difficult scalping via spreadbet is so I've withdrawn the majority of my account from D4F today and will be opening an IB a/c pretty soon.
Cheers, hampy
I do know however that I prefer odds in my favour, so I'll probably go for the patient option and wait for the Tick div.
BTW, neg div forming as I type, but like yesterday, since 10am tick low has not been below 0, so I shall not be taking it.
Also, a big thanks for all your help over the last few months.
I can see already how important it is to take the plunge and trade for real with a proper data feed. I've had Q charts less than a week yet I've learnt loads already and it makes it even more useful to be able to go back over all the ES threads and relate it to what I've observed in real time.
I 've also seen how difficult scalping via spreadbet is so I've withdrawn the majority of my account from D4F today and will be opening an IB a/c pretty soon.
Cheers, hampy
china white
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scalping via spreadbetting????? Hampy it is like betting on Uruguay becoming the next World Cup holder - yes they did it 3 times so its not impossible - but it is a bit suicidal innit? 🙂
tell u what - my avrg payout from scalps is 12-16 teenies. on IG u get their spread at 16 teenies. Mission Impossible part IV innit? 🙂
tell u what - my avrg payout from scalps is 12-16 teenies. on IG u get their spread at 16 teenies. Mission Impossible part IV innit? 🙂
china white
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mate its the same sort of Q as "how many angels can sit on the top of a needle" - which bugged Catholic philosophers for about 9 centuries 🙂 i dunno mate.....
what is imp tho is 2 things:
1) i am seeing trend up internals at 14:15 pivot - so 20 ema play is a good call
2) for this up move to be serious SOX needs to get out of its upchannel which so far failed to materialise despite gains in ES.
I am long 20 ema on my 2nd trade, its currently B/E - but i am keeping the position due to internals.
what is imp tho is 2 things:
1) i am seeing trend up internals at 14:15 pivot - so 20 ema play is a good call
2) for this up move to be serious SOX needs to get out of its upchannel which so far failed to materialise despite gains in ES.
I am long 20 ema on my 2nd trade, its currently B/E - but i am keeping the position due to internals.
Emotions ( and the Pub )
With apologies to all the experienced traders out there, here's how a beginner took 0 points with about 16 available.
1st lesson - Taken by surprise as the 1st tick div started to form within 10 mins of the open. At 10 est div looking pretty good soon confirmed by a sneeky look at the DOW 1 min PD RSI.
Guess what I did, *&$%V all.
At least i didn't fall into yesterday's trap and take the Neg div at 1140. ( Tick low never < 0 )
At this point starting to look more and more like a trend up day,
therefore buy any retracement to the NAZ 20/40 ema. Failed to do so WHY? Soon after, long white candle takes us to the top of the day and I've missed the whole lot.
With due respect to the maestro CW :cheesy: the indicies ema 's are not all lined up and some of the internals are not quite 2>1 so still looking for Tick div's. Within 10 mins we get one but the brain is shot to pieces by this stage, and fail to act yet again.
As more points go begging I decide to decamp to the pub and drown my sorrows ( well it's less than 100yds away so it would be rude not to )
Two more divs would have yielded points after 1300, but I probably wouldn't have taken them anyway.
Fortunately, I have a decent job to pay the bills so I shall be excused duty tomorrow PM.
Whoever said trading was easy? 😕
With apologies to all the experienced traders out there, here's how a beginner took 0 points with about 16 available.
1st lesson - Taken by surprise as the 1st tick div started to form within 10 mins of the open. At 10 est div looking pretty good soon confirmed by a sneeky look at the DOW 1 min PD RSI.
Guess what I did, *&$%V all.
At least i didn't fall into yesterday's trap and take the Neg div at 1140. ( Tick low never < 0 )
At this point starting to look more and more like a trend up day,
therefore buy any retracement to the NAZ 20/40 ema. Failed to do so WHY? Soon after, long white candle takes us to the top of the day and I've missed the whole lot.
With due respect to the maestro CW :cheesy: the indicies ema 's are not all lined up and some of the internals are not quite 2>1 so still looking for Tick div's. Within 10 mins we get one but the brain is shot to pieces by this stage, and fail to act yet again.
As more points go begging I decide to decamp to the pub and drown my sorrows ( well it's less than 100yds away so it would be rude not to )
Two more divs would have yielded points after 1300, but I probably wouldn't have taken them anyway.
Fortunately, I have a decent job to pay the bills so I shall be excused duty tomorrow PM.
Whoever said trading was easy? 😕
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china white
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hampy - i've got a bottle of Cachaca Colonial in my fridge here and 20 Brasilian bars within walking distance - however during trading hours i dont think u shud be "drowning your sorrows" - with all due respect - it is a sign of not being serious about trading, but dabbling with it rather. Mate i really wish u all the best luck in trading and the only reason why I am writing these lines is that funnily enough, u'll become a good trader ONLY if u give it 100%. actually quite a bit more 🙂
look back mate. what is the "sorrow"? u didnt take a trade which u know u shud've been in. take it as a lesson and take the next trade that presents itself.
my moves today were L 39 close 46, then long 20 ema (due to internals) close at -0.25 pts loss. i expected more but u take whats on the plate. u cock-up - yes - but that 20 ema long cud be a 10 pts win - easily. no regrets.
hamps i know what cofused u. tick neg div at 12:05 (actually 2 of them) was tempting to S. dont forget tho that internals at that point were decisively trendy and tick is a SECONDARY indicator (like any contrarian indicator) in a trending mrkt.
C'mon mate - u r doing better than me when i first started. keep up good work 🙂
look back mate. what is the "sorrow"? u didnt take a trade which u know u shud've been in. take it as a lesson and take the next trade that presents itself.
my moves today were L 39 close 46, then long 20 ema (due to internals) close at -0.25 pts loss. i expected more but u take whats on the plate. u cock-up - yes - but that 20 ema long cud be a 10 pts win - easily. no regrets.
hamps i know what cofused u. tick neg div at 12:05 (actually 2 of them) was tempting to S. dont forget tho that internals at that point were decisively trendy and tick is a SECONDARY indicator (like any contrarian indicator) in a trending mrkt.
C'mon mate - u r doing better than me when i first started. keep up good work 🙂
China
That's great encouragement! I hope hampy doesn't mind me butting in, but I too am having a few finger troubles at the moment, due to another string of (albeit small) losses!
Trying very hard to read the price from under the helmet. 😎
Cheers
Q
That's great encouragement! I hope hampy doesn't mind me butting in, but I too am having a few finger troubles at the moment, due to another string of (albeit small) losses!
Trying very hard to read the price from under the helmet. 😎
Cheers
Q
Thx for those words of encouragement.
The drowning sorrows bit was written tongue in cheek, always intended an early finish last night, parents down , so food in the pub.
I am certainly serious about trading, but have to balance that against partner, 2 young kids, and shift work that pays the bills and a pretty hefty mortgage.
I estimate that I will be able to trade an average of 3 days a week, but I shall continue studying on the others. I'm finding going back over the ES threads from end of last year really useful,
looking at the Tick and ES charts together I seem to see something new every time I look back.
That brings me on to something from last night's action.
China, you pointed out in November that a trend reversal may not be pointed out by tick so looking at ES with it's MACD there was a nice MACD neg div completed just before 1300. If you'd then gone back to taking Tick divs as primary indicator that may have yielded a few more points. Just an observation, what do you reckon?
Cheers, hampy
The drowning sorrows bit was written tongue in cheek, always intended an early finish last night, parents down , so food in the pub.
I am certainly serious about trading, but have to balance that against partner, 2 young kids, and shift work that pays the bills and a pretty hefty mortgage.
I estimate that I will be able to trade an average of 3 days a week, but I shall continue studying on the others. I'm finding going back over the ES threads from end of last year really useful,
looking at the Tick and ES charts together I seem to see something new every time I look back.
That brings me on to something from last night's action.
China, you pointed out in November that a trend reversal may not be pointed out by tick so looking at ES with it's MACD there was a nice MACD neg div completed just before 1300. If you'd then gone back to taking Tick divs as primary indicator that may have yielded a few more points. Just an observation, what do you reckon?
Cheers, hampy
china white
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hampy - good to know u r serious about trading. funniest thing - once u overcome YOUR OWN psychological bearriers and become a pro - all those financial burdens will strangely enough 🙂 disappear.... However, if they hold u prisoner mentally - they'll become even worse.... life is a b*tch 🙂
careful with trend reversals. when your +10 pts turn into -10 pts its usually an avalanche in the last couple of hours so tick may be giving u false signals (remember 1929/87 example?) internals at time povots r key to detecting those days imo
careful with trend reversals. when your +10 pts turn into -10 pts its usually an avalanche in the last couple of hours so tick may be giving u false signals (remember 1929/87 example?) internals at time povots r key to detecting those days imo
china white
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i know this is a bit off-topic but let me tell u how i c it.
lets talk about hypothetical Mr X here who wants to be a trader FULL-TIME, well prepared for it technically but has frozen fingers and general doubts about trading (a.k.a. doubts about HIMSELF 🙂 ). btw a clear sign of frozen fingers is when u hv a losing trade and so devastated that u dont trade for the rest of the day - just watching the mrkt as if it were eastenders 🙂
Of coz Mr X has his own obligations, bills, gorgeous kids or flashy mistress etc - we all have to spend money dont we? mentally that adds to Mr X's doubts of whether he's actually gonna be good in making money trading full-time.
Now - let me show how i c it
When i was a kid (and was losing all the fights to a particular group of other kids - which mentally for a kid is a much bigger problem than utility bills for an adult 🙂 ) my grandmom who is from Napoli told me - look at yrself in the mirror, u'll never win unless U BELIEVE u r Napolitano (Napolitani DO BELIEVE they r the best Italians in Italy). She even added that it is irrelevant if I was born in Napoli myself or not - it is that I had to believe it
U c my point? Napolitani being the best Italians or Mr X becoming a star trader r DEBATABLE issues (well only the latter one 🙂 ). But unless Mr X BELIEVES he's gonna make it big time, not just to pay off bills, but to get a yacht in the Med 🙂 he'll never make it.....
brutal - oh yeah. but if it wasnt, every1 wud be a trader.
Read the signature to my posts - "if u dont succeed now, u'll never do..."
good luck to all
lets talk about hypothetical Mr X here who wants to be a trader FULL-TIME, well prepared for it technically but has frozen fingers and general doubts about trading (a.k.a. doubts about HIMSELF 🙂 ). btw a clear sign of frozen fingers is when u hv a losing trade and so devastated that u dont trade for the rest of the day - just watching the mrkt as if it were eastenders 🙂
Of coz Mr X has his own obligations, bills, gorgeous kids or flashy mistress etc - we all have to spend money dont we? mentally that adds to Mr X's doubts of whether he's actually gonna be good in making money trading full-time.
Now - let me show how i c it
When i was a kid (and was losing all the fights to a particular group of other kids - which mentally for a kid is a much bigger problem than utility bills for an adult 🙂 ) my grandmom who is from Napoli told me - look at yrself in the mirror, u'll never win unless U BELIEVE u r Napolitano (Napolitani DO BELIEVE they r the best Italians in Italy). She even added that it is irrelevant if I was born in Napoli myself or not - it is that I had to believe it
U c my point? Napolitani being the best Italians or Mr X becoming a star trader r DEBATABLE issues (well only the latter one 🙂 ). But unless Mr X BELIEVES he's gonna make it big time, not just to pay off bills, but to get a yacht in the Med 🙂 he'll never make it.....
brutal - oh yeah. but if it wasnt, every1 wud be a trader.
Read the signature to my posts - "if u dont succeed now, u'll never do..."
good luck to all
china white
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SOX well confined within upchannel - actually testing its lower bound. dont think it is too good, given ES early surge:
http://www.ttrader.com/mycharts/display.php?p=19800&u=chinawhite&a=China\'s ES&id=915
however C&H traders can definitely see 1157.50 as a natural point for a handle to form. Tricky imo. Personally short 51 here.
http://www.ttrader.com/mycharts/display.php?p=19800&u=chinawhite&a=China\'s ES&id=915
however C&H traders can definitely see 1157.50 as a natural point for a handle to form. Tricky imo. Personally short 51 here.
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