Trading G6E & ES

[yubesh]

I have been paper trading the past few months with trade navigator and I can't seem to build a consistent winning ratio. I would really like to know what are the take profit and stop loss you guys place. Do you all estimate from the ADR? If so what is the percentage? What kind of indicators do you all use to place and entry and exit? I really would love to know some cool strategies for making profits on a consistent basis.

Right now I am using the RSI crossovers and MACD for a confirmation entry. Bollinger band for the move of the market. Usually its 12:12 for the 6E and 7:7 for the ES. But even that I do not see much of a consistent profit. Its either a little over 200 a day, 150 loss or break even for the day.

I do see more volume on the Euro markets open and the NY. Besides that, pretty much sideways.

What are the preferred time scale for charting by the masses? I use the tick range bars. 8 for the ES and 16 for the ym and 6e. Anyone looks at volume and price action on DOM to trade?

Btw any coaches or website I can learn more about day trading which have been proven to be useful or effective?

-Newbie trader

 

[timsk]

Hi Yebesh,
Welcome to T2W.

Your profile displays the vendor's badge which indicates that you run a commercial website. Given the content of your post, I assume this is a mistake? Fellow members are unlikely to provide constructive feedback to your questions if they suspect you're a vendor merely here to spam our forums.

Assuming the vendor badge is an error, I recommend you read the first two links in my signature (below), as your questions indicate that you don't yet have a tried and tested trading methodology. Additionally, more detailed answers to your questions can be found in the Trading FAQs section. Enjoy!
Tim.

 

[yubesh]

Oops. Sorry my bad. Obviously I overlooked that part. I am not a vendor. I am just someone new to trading and wanna be trained to trade successfully. Thanks for your heads up Tim!

 

[wackypete2]

Hi Yebesh,
Welcome to T2W.

Your profile displays the vendor's badge which indicates that you run a commercial website. Given the content of your post, I assume this is a mistake? Fellow members are unlikely to provide constructive feedback to your questions if they suspect you're a vendor merely here to spam our forums.

Assuming the vendor badge is an error, I recommend you read the first two links in my signature (below), as your questions indicate that you don't yet have a tried and tested trading methodology. Additionally, more detailed answers to your questions can be found in the Trading FAQs section. Enjoy!
Tim.

Tim,
Why would you assume this is an error? The sign up page clearly states the vendor issue and one must actually click a selection that states they are a vendor. All you are doing is encouraging him to get rid of the badge. He'll still be a vendor.

Clearly, t2w does not have what it takes to fix this vendor issue. Admin and mods are too nicey nicey in dealing with this issue. You guys are either afraid to hurt someone's feelings or just want to keep the member count climbing. BE TOUGH, stand up for the site. You already know as stated in your post this is going to turn into a lulzfest vendor bashing thread yet here it is allowed to stand.

Vendor
Anyone who has a commercial interest in selling/marketing their product or service to T2W members must declare this interest here.

Peter

ADDED: Yes, I am being very harsh.

 

[wackypete2]

Oops. Sorry my bad. Obviously I overlooked that part. I am not a vendor. I am just someone new to trading and wanna be trained to trade successfully. Thanks for your heads up Tim!

How did you overlook it when you had to actually click on a specific choice for the vendor badge to show up. If you overlooked it there would be no vendor badge showing.

Peter

 

[yubesh]

Omg. I am no vendor. I just randomly clicked that section thinking it was a referral option from Google or yahoo as most sign ups seek an option to be chose.

T_T Here goes my efforts of making a post.

 

[yubesh]

So, just cause I posed some questions I am labeled a vendor? Where is the good in asking questions then?

 

[DionysusToast]

Getting back to the question....

Presuming you are day trading.

Stick to 1 market. The ES and GC are vastly different in terms of liquidity and so they don't move the same intraday. If you like thicker markets, I'd go for Bund + ES, as they share more characteristics in how they move.

In terms of

"Right now I am using the RSI crossovers and MACD for a confirmation entry. Bollinger band for the move of the market. Usually its 12:12 for the 6E and 7:7 for the ES"

If you are looking for a combination of indicator settings to provide a 'setup' to trade off, a bit like a red light short, green light long, then I can tell you that trading is a lot more nuanced like that. The ES will put in 3-4 8-10 point swings a day and you'd be better off studying the common reference points at which those swings occur.

 

[yubesh]

Getting back to the question....

Presuming you are day trading.

Stick to 1 market. The ES and GC are vastly different in terms of liquidity and so they don't move the same intraday. If you like thicker markets, I'd go for Bund + ES, as they share more characteristics in how they move.

In terms of

"Right now I am using the RSI crossovers and MACD for a confirmation entry. Bollinger band for the move of the market. Usually its 12:12 for the 6E and 7:7 for the ES"

If you are looking for a combination of indicator settings to provide a 'setup' to trade off, a bit like a red light short, green light long, then I can tell you that trading is a lot more nuanced like that. The ES will put in 3-4 8-10 point swings a day and you'd be better off studying the common reference points at which those swings occur.

Actually I have noticed the ym and es movements are quite similar. I am actually watching the markets of ym, 6e and es for over 9 hours a day and one thing for sure is, I can see more movements in the 6e. I can't help but to console myself that those retracements from the active high and active low of the day are the winners at. But even that I still don't understand how much of stop loss I should put for the 6e. Even at 12:12, I get stopped out at like -13-15 and the market climbs back up +20 or 30. Its very frustrating, honestly. Many RSI crossovers over the moving average, but they are definitely not all winners. Still cracking my head on nullifying the error rate of my execution.

What are your preferred time frames on the es, ym and 6e?

Appreciate your time taken to reply, DT.

 

[timsk]

Yes, I am being very harsh.

Hi Peter,
It's the intention behind the comment that matters, so, harsh is fine coming from you! Many members do make the mistake of accidentally - and quite innocently - indicating some sort of vendor status - that much we know. I've been on to Sharky and the Tech' team for yonks to make that section of the registration process foolproof - but there's always more important things to do - you know how it is . . .

Tim.

 

[fborne]

you are boring with your vendor story. stick to the question and markets. I am here to catch ideas, see what I do wrong, and don't *** care about vendor damn badges, f you want to do something good, then explain me everytimes I try to upload a picture, it show me: upload failed.

Anyway to go back to original question, your SL dpends also of your strat. what kind of strat you do define your SL. for exemple, for reversals, you need something fast, in ES around 6 ticks maybe 7, depends also your timeframe. lets stick to 5 min timeframe in ES, reverals with 6-7 ticks max will be enough. but as I wrote, all depends of the kind of strategy you use.

Regards,
FBO

 

[timsk]

you are boring with your vendor story. stick to the question and markets. I am here to catch ideas, see what I do wrong, and don't *** care about vendor damn badges, f you want to do something good, then explain me everytimes I try to upload a picture, it show me: upload failed.

fborne,
I suspect that you've accidentally stumbled upon and joined the wrong site. The one you want - and certainly need - is this one. Once you've 'graduated', feel free to return here, whereupon I and others will be happy to answer your questions.
Tim.

 

[fborne]

Timsk,
should I take your answer as an insult?