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My ES Scalping Strategy, 2+ pts/day


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My ES Scalping Strategy, 2+ pts/day

  #31 (permalink)
 
trendisyourfriend's Avatar
 trendisyourfriend 
Quebec Canada
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Experience: Intermediate
Platform: NinjaTrader
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Simple question. I did not know we could ue the iPad to trade and using Ninja. Is this a special version of Ninja ? And do you use a keyboard ?

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  #32 (permalink)
 
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 Big Mike 
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trendisyourfriend View Post
Simple question. I did not know we could ue the iPad to trade and using Ninja. Is this a special version of Ninja ? And do you use a keyboard ?

Check here:


Mike

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  #33 (permalink)
 rptrader 
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I know this thread is for the ES but I want to see if I can use your method to trade the 6E during the Asian session. Here is a pic of the trade I just took. Short at 1.4573, with a 6 tick stop. First scale at 1.4570, second scale at 1.4567. The 6E trends pretty good so I'm thinking I could go for a larger target on the second trade.

I hope you don't mind me posting this trade.

rptrader

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  #34 (permalink)
 
jwdixon's Avatar
 jwdixon 
Denver Colorado
 
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rptrader View Post
I know this thread is for the ES but I want to see if I can use your method to trade the 6E during the Asian session. Here is a pic of the trade I just took. Short at 1.4573, with a 6 tick stop. First scale at 1.4570, second scale at 1.4567. The 6E trends pretty good so I'm thinking I could go for a larger target on the second trade.

I hope you don't mind me posting this trade.

rptrader

I do trade the 6e, i have been following cjbooths thread so i have been watching his charts as of late. I think this can work on any liquid market, you just need to find the right charts....

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  #35 (permalink)
 rptrader 
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jwdixon View Post
OK....That seemed to work, sound is a little low but you can hear something....I think I am limited to 5 min. videos with jing so I will try and do 1 a day. If you have any trade set up questions that you want me to try and address, post it and I will do my best.

I was asked what I use for my money management...... not much, about 5 years ago I made a word doc, to help motivate me to stop trading when I got to 2 points and this is what I came up with. I have it printed in color, right in front of me, all day and night, I can't miss it, so it gets drilled in to my little brain. I am a creature of habit, and I have not really increased my contract size according to what I wrote up, but right now with all the distractions I am comfortable with trying to make 2 points a day. The main thing for me is not to take many losses, so I sometimes miss trades (like today) but its better for me to miss a trade than just jump in and take a loss. Last week was only half of what the "GOAL" is but didn't get trades off 2 of those days.

2011-06-06_1534 - jwdixon's library

I will post the word doc also, so you can modify it to your liking....

JW,

This document assumes 2 points per contract. When trading 2 contracts with scaling out you need 2 successful trades to hit the goal, instead of just one trade with a 6 tick stop and one target of 8 ticks, or 9 to also cover commissions. Is that what you meant or are you going to switch to a one exit target method?

Thanks
rptrader

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  #36 (permalink)
 
jwdixon's Avatar
 jwdixon 
Denver Colorado
 
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Big Mike View Post
Check here:


Mike

thanks I did not know they offered it.......I have been using Jump Desktop......$20........and I trade off my desktop at home from the iPad, about 1 sec delay but great battery life and the desktop does all the work, also I dont have to set up different charts.....infact did this from the iPad at dinner....hehehe

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  #37 (permalink)
 
jwdixon's Avatar
 jwdixon 
Denver Colorado
 
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rptrader View Post
I know this thread is for the ES but I want to see if I can use your method to trade the 6E during the Asian session. Here is a pic of the trade I just took. Short at 1.4573, with a 6 tick stop. First scale at 1.4570, second scale at 1.4567. The 6E trends pretty good so I'm thinking I could go for a larger target on the second trade.

I hope you don't mind me posting this trade.

rptrader

Hey rptrader, dont mind at all....here are the two charts I have been playing with, Im sure you could find better. The thing I am always looking for the charts where I dont have to change my rules.....that way it does not mater what I am looking at, if I SEE IT, I CAN TRADE IT, less thinking.....good luck. Let me know what charts you end up watching.

Thanks

2011-06-06_2049 - jwdixon's library

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  #38 (permalink)
 
jwdixon's Avatar
 jwdixon 
Denver Colorado
 
Experience: Intermediate
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Trading: ES
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rptrader View Post
JW,

This document assumes 2 points per contract. When trading 2 contracts with scaling out you need 2 successful trades to hit the goal, instead of just one trade with a 6 tick stop and one target of 8 ticks, or 9 to also cover commissions. Is that what you meant or are you going to switch to a one exit target method?

Thanks
rptrader

RP, when I did that I was still on the quest for 2 points a day, actually I was trading the russel more than the ES, but you are right, I want to just net about $100/day, how every many trades it takes, thats why sometimes I need to trade in the afternoon, I dont always hit exactly 2 points but thats my goal. Hope that helps

Also where I tend to exit too early, others might not have that problem....boils down to comfort and what profit you think you can pull out on the average trade...

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  #39 (permalink)
 rptrader 
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jwdixon View Post
RP, when I did that I was still on the quest for 2 points a day, actually I was trading the russel more than the ES, but you are right, I want to just net about $100/day, how every many trades it takes, thats why sometimes I need to trade in the afternoon, I dont always hit exactly 2 points but thats my goal. Hope that helps

Also where I tend to exit too early, others might not have that problem....boils down to comfort and what profit you think you can pull out on the average trade...

Thanks. That's what I figured but I wanted to make I sure I was on the same page.

rptrader

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  #40 (permalink)
 
jwdixon's Avatar
 jwdixon 
Denver Colorado
 
Experience: Intermediate
Platform: Ninja trader
Trading: ES
Posts: 110 since May 2011
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OK here are two screen shots during my morning trade. I will go over my thinking for the entry in the video I will post later. You will see I moved PT2 up quite a bit trying to catch a runner, I almost hit the close button when I saw 2.5 points but I resisted.....just moved my stop up to 6 ticks......

I have some run around, lunch with kids, and then I will get to the video.....do you think they are worth the effort? Anything to make them better?

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