/ES Trading Strategy on ThinkorSwim

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tomsk

Well-known member
VIP
Disagree. Ill write more detailed analysis later, but there is more to market than just AD
No worries, every trader has different risk profile. Good trading @skynetgen
I do look at other metrics as well
 
S

Shrum

New member
any other trades this morning?
Thanks for this thread, I find it very interesting
 
S

skynetgen

Well-known member
Warehouse
A classic trisqz after morning bottom:

1) Larger timeframe support after exhaustive move down
2) every candle closing inside first 30m candle
3) Lack of intraday catalysts

My bias is avoiding that chop(3085-3070) like plague. once the first 30m close happens outside of triangle I might go for scalp.
Also might buy at support(3065-3070) with clear confirmation . The upside target is 3100
 
S

skynetgen

Well-known member
Warehouse
Trisqz play analysis:



I did not wait for super clear 30m confirmation as I felt like earlier entry provided better RR

My exit was also conservative. - trying to take profits before being stopped out and see how it works

p.s. now with 20/20 hindsight trailing it on psar stop would have netted 3 points more. - management is hardest thing to learn
 
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blakecmathis

blakecmathis

Active member
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My play was nearly identical to yours man but I ended up getting in on that first pull back @ 3082.50
 
blakecmathis

blakecmathis

Active member
Warehouse
@Shrum Patterns such as these where you are looking to make a play on the breakout

 
S

skynetgen

Well-known member
Warehouse
@skynetgen Think the top is around 3102?
For today maybe .3105 - absolute max. But i think 3095 might been it. Personally was not playing the PM ( doing swing management)
vwap close looks like natural magnet
 
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T

Talochka

Member
Disagree. Ill write more detailed analysis later, but there is more to market than just AD
seems you are VERY right

Trisqz play analysis:



I did not wait for super clear 30m confirmation as I felt like earlier entry provided better RR

My exit was also conservative. - trying to take profits before being stopped out and see how it works

p.s. now with 20/20 hindsight trailing it on psar stop would have netted 3 points more. - management is hardest thing to learn
what time zone are you in?
 
J

JML

New member
I didn't open a position until the afternoon due to the fact that I hadn't traded a single contract since last Tuesday. Felt a little out of sync I guess I don't know how else to explain it. Just wanted to kinda sit back and see how the morning panned out. Anyways here's my action from today.

Blake, new here, long time TOS user, what do you look for to enter your trades?
 
blakecmathis

blakecmathis

Active member
Warehouse
@JML Before the opening bell I go back and look at the price action from the previous day as well as the action in post-market. I mark up any specific price points (support and resistance) that might come into play. I also do this all day long. If you look at the screenshots I've posted in this thread I've got probably 10-20 price points marked throughout the day. I do this so that when ES is trading in a specific range I don't have to frantically look back and try to spot a good price point for entry/exit. That could be with pull backs or getting in at the top/bottom of a new trend. So thats how I define the actual price point of my entries. ES trades differently than most instruments. There are patterns here that if you attempted to trade elsewhere you might get your bacon cooked. I try not to trade against the trend unless I'm 100% confident in the play, even then generally not a good idea. With the indicators I'm running right now it's a very simple and clean setup. Basically looking for FE bottomed out, sell/buy signal from the Wave Trend Oscillator, and confirmation from the CCI on the 2000t to indicate that the previous trend is over or if its just a continuation (cyan to purple, purple to cyan, etc.) Ideally I like to enter on the first pull back, but who doesn't? Lately I've been playing a lot of triangles which is pretty straightforward. For me, time of day is extremely important. Big moves happen on the hour and half hour. Most importantly though man I'm just paying extremely close attention to price action which I think is the most valuable tool a trader can have and utilize.
 
T

Talochka

Member
@JML Before the opening bell I go back and look at the price action from the previous day as well as the action in post-market. I mark up any specific price points (support and resistance) that might come into play. I also do this all day long. If you look at the screenshots I've posted in this thread I've got probably 10-20 price points marked throughout the day. I do this so that when ES is trading in a specific range I don't have to frantically look back and try to spot a good price point for entry/exit. That could be with pull backs or getting in at the top/bottom of a new trend. So thats how I define the actual price point of my entries. ES trades differently than most instruments. There are patterns here that if you attempted to trade elsewhere you might get your bacon cooked. I try not to trade against the trend unless I'm 100% confident in the play, even then generally not a good idea. With the indicators I'm running right now it's a very simple and clean setup. Basically looking for FE bottomed out, sell/buy signal from the Wave Trend Oscillator, and confirmation from the CCI on the 2000t to indicate that the previous trend is over or if its just a continuation (cyan to purple, purple to cyan, etc.) Ideally I like to enter on the first pull back, but who doesn't? Lately I've been playing a lot of triangles which is pretty straightforward. For me, time of day is extremely important. Big moves happen on the hour and half hour. Most importantly though man I'm just paying extremely close attention to price action which I think is the most valuable tool a trader can have and utilize.
you should write a book! thanks for explanation
 
blakecmathis

blakecmathis

Active member
Warehouse
Haha that might be a stretch man. I've learned a lot from traders on this forum like @skynetgen @horserider @tomsk and @BenTen. And for me its not even the indicators. Its the experience and knowledge that other people have who have been trading much much longer than I have. Market breadth, market internals, MTF analysis, time of day. These are just a few examples of the things I have learned from the great dudes on this site.
 
blakecmathis

blakecmathis

Active member
Warehouse
In my honest opinion 90% of every YouTube video out there about day trading is BS. If you were really that successful at trading, why would you need to supplement your income with revenue from making videos? You would be drinking mai tais on the beach in Maui. The members of this site have nothing to gain from helping people out. I truly believe all of us here want to see everyone succeed, stick it to wall street, and be the 5-10 percent of traders who actually prevail over the markets.
 

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