/ES Futures Trading Strategy on ThinkorSwim

[blakecmathis]

@television Absolutely brotha!!

 

[television]

thanks, King

 

[blakecmathis]

Three winning trades from today all based on the exact same pattern: Inverse Head & Shoulders

 

[blakecmathis]

I didn't make this trade but this is what I'm looking for in an ideal short play with a good clear entry

 

[blakecmathis]

I have a bad habit of abandoning this setup and just trying to trade S/R with the trend or with the news and that is when I lose money. Stick to the plan and it works like a champ.

 

[television]

This stuff is great, i personally find when using s/r strats you end up getting faked out a lot more (level ii and time and sales can help reduce this )
I also never thought of applying head and shoulders to smalls scalps until you mentioned it, seems to be working great after back testing it with today's price action. Will continue testing this and let you know how it goes... it looks promising. Also i want to say keep the recaps coming! they help a ton!

 

[blakecmathis]

@otmane Where'd you lose it man if you don't mind me asking?
I didn't have a great day today but still profitable none the less.

 

[television]

yikes bro, hope that was a small portion of you account. Go back to the drawing board and make sure you have a good working system (doesnt have to profitable 100% of the time... ) also make sure your emotions are in check
remember every good trade has a take profit level and an invalidation level

 

[blakecmathis]

So looking back on today this was the only "false signal" I found. Did not make this trade. No clear entries for me personally and usually pretty dicey around the intraday vwap. But if you were looking to just snag a couple points and grab some green it was a winner.

 

[blakecmathis]

@otmane hang in there man!!

 

[blakecmathis]

I'm gonna be watching 2930 like a hawk. Institutional trading has been off the charts at these fib levels.

 

[television]

@blakecmathis do you personally trade after hours?\
Yeah, i agree market has been respecting technicals in this downturn. Also, dont be surprised if it breaks the 0.618 (it can work up to the .5 level before making its move )

 

[blakecmathis]

@television

@blakecmathis do you personally trade after hours?\
Yeah, i agree market has been respecting technicals in this downturn. Also, dont be surprised if it breaks the 0.618 (it can work up to the .5 level before making its move )

No way man. No post market trading for me. There are some good pre market trades to be made in the morning though before the chaos ensues.

 

[blakecmathis]

@otmane I believe @netarchitech @HighBredCloud and some others were working on something similar to that not too long ago. But the indicator they developed is the only thing I've ever seen like that.

 

[blakecmathis]

Hopefully they see this brotha and can put you in the right direction!! I can't remember for the life of me what it was called

 

[blakecmathis]

I wouldn't know the first thing about options man.

 

[lrc11239]

Thank all you guys! You are a blessing! How have you been dealing with the huge moves early in March?? I'm using this set up on /NQ and works well. I was using basically just the RSIL with 512/1000 Tick charts and a 30min for a bigger picture. I was looking for something to add that will stop me from bad trades instead of taking every signal. Works well so far just need to be patient with my entries. Again thank you sooooooo much!!!

 

[blakecmathis]

I believe this setup works better with high volatility. Today however, has been trash. I learned from @skynetgen a while back to avoid days with gappers. 0 trades today. $0.

 

[television]

^super quick head and shoulders scalp
--not going live until i get the hang of this in my simulation account (just opened a sim acc on tradeovate)

Unlike the first one, this second scalp had no confirmation from the 2000 tick cci along with the 1 min spy cci (most likely would not have taken this in real time)
btw all these were seen in hindsight...
unfortunately my eyes are still getting used to seeing these in real time as they develop

 

[television]

just focusing on the head and shoulders until i master it, then i may move onto other setups.. what ****s is that these happen only a handful times a day and if im ot constantly looking at my screen then i miss them... the entries only have a brief 30 second window so i have to be on high alert at all times