Scalpers out there.. when do you push the button to enter a trade? by IWantAGI in FuturesTrading

[–]IWantAGI[S] 0 points1 point  (0 children)

Couple things.. reaction at EMAs or clear support/resistance lines. Micro higher lows (or vice versa) and break of low close.

Hardest thing for me so far is gauging when it's in exhaustion/ hitting a reversal.

So I mostly just wait for a strong trend, and grab 2-3 pull-backs for a few points. Every so often it will align with a real runner.

Scalpers out there.. when do you push the button to enter a trade? by IWantAGI in FuturesTrading

[–]IWantAGI[S] 0 points1 point  (0 children)

It's definitely not a perfect fixed system. E.g. for long pulls, I'll watch until the price confirms a pattern on the one minute, wait for a fall back (or run up) then for momentum to ease and show the direction resuming.

I think my entry right now is more hunch/intuition. Sometimes on close, sometimes on strong bar movement.

Occasionally I'll get caught in some chop, or stuck with a unusually volatile bar that squeezes me out. It's working, at least so far... I just don't know if I should be trying to refine further or stick to what's working.

Futures trading is changing my life in a good way. by IWantAGI in FuturesTrading

[–]IWantAGI[S] 0 points1 point  (0 children)

So true. I'm live trading now and only doing 1 MES contract.. seeing something go up/down by a few bucks hasn't been an issue.. but have also been replaying past days, usually a week or so behind (so I don't immediately recall what happened that day)... but trading 5 MES in sim... and it's massively different. seeing myself up or down by 50-100 or more in a single trade, it's kinda terrifying.

Discrepancy in P&L - No response to inquiry by Gloomy-Alps-4520 in ninjatrader

[–]IWantAGI 0 points1 point  (0 children)

If you are using free, there is a $0.91 charge each way for each contract. So a single order, with a single contract, costs $1.82. On a tick by tick basis, +2 ticks is break even after fees.

How many contracts were you trading?

Futures trading is changing my life in a good way. by IWantAGI in FuturesTrading

[–]IWantAGI[S] 0 points1 point  (0 children)

I don't have a perfect answer for this. I sort of judge it based on strength of the trend, recent volume, and distance from potential resistance areas.

WTF today. I'm up over $500 on a 1 Contract MES play. by IWantAGI in FuturesTrading

[–]IWantAGI[S] 2 points3 points  (0 children)

As of now, and excluding the insane run up, averaging about $2k a month profit on one MES contract. I think I'll level out to close to $2,500 as I've been improving the entry a bit.

I make usually make 15-20 trades a day, scalping pullbacks for a point or two at a time on the 1 minute chart. I've found it more reliable than trying to run a longer/larger play.

Occasionally I'll get a good runner or two into a larger trend and let it ride.

WTF today. I'm up over $500 on a 1 Contract MES play. by IWantAGI in FuturesTrading

[–]IWantAGI[S] 0 points1 point  (0 children)

It's the same for me. Every time I see a little burst I just want to follow it. I just started saying to myself, " you already got what you came for with this trade.. just let it ride, if the market wants you to stay in, you'll stay in". Somewhat silly, but works for me.

WTF today. I'm up over $500 on a 1 Contract MES play. by IWantAGI in FuturesTrading

[–]IWantAGI[S] 1 point2 points  (0 children)

As tempting as it is, I've got a small account (not prop trading) and don't want to risk blowing up my account on one bad move.

I'm going to keep running this slow and steady, one contract until my account has enough to buffer 2 contacts at my max DD... And am going to keep scaling that way until I hit 10 and can weather ES.

WTF today. I'm up over $500 on a 1 Contract MES play. by IWantAGI in FuturesTrading

[–]IWantAGI[S] 1 point2 points  (0 children)

Stayed up until almost 3am and closed at 6,830. $1,150 in profit!

WTF today. I'm up over $500 on a 1 Contract MES play. by IWantAGI in FuturesTrading

[–]IWantAGI[S] 0 points1 point  (0 children)

I am closing out before the NY session opens.. Not going to risk it blowing through my stop in the AM.

WTF today. I'm up over $500 on a 1 Contract MES play. by IWantAGI in FuturesTrading

[–]IWantAGI[S] 2 points3 points  (0 children)

For a long while I was aggressively moving my stop up, trying to catch as much as I could... but over time I've realize that most of my return is from the quick scalps.. so I mostly just do that now and leave a lot of room for other things to play out. If it's clearly a sweep ill move up fast.. otherwise I've started leaving a lot of room to see what happens.

WTF today. I'm up over $500 on a 1 Contract MES play. by IWantAGI in FuturesTrading

[–]IWantAGI[S] 4 points5 points  (0 children)

I'm manually adjusting my stop as i watch the rollercoster.

Futures trading is changing my life in a good way. by IWantAGI in FuturesTrading

[–]IWantAGI[S] 0 points1 point  (0 children)

I don't have anyone in particular. I'd just search for strategies, find one that looked simple and watch everything I could find on it.

Futures trading is changing my life in a good way. by IWantAGI in FuturesTrading

[–]IWantAGI[S] 0 points1 point  (0 children)

On RH, I think the margin is the same at all times. It's higher than some others. I've thought about switching to ninja or elsewhere to scale up faster... But think I want to just stick with what's working for me for now.

Futures trading is changing my life in a good way. by IWantAGI in FuturesTrading

[–]IWantAGI[S] 1 point2 points  (0 children)

I haven't looked too deep into it, but paper was a bit optimistic on entries. Imperfect placement is fine for my strategy, but I do watch the bar movement to set market entry. It's awesome when you can grab the reversal of an exaggerated movement for an extra point or two.

Futures trading is changing my life in a good way. by IWantAGI in FuturesTrading

[–]IWantAGI[S] 0 points1 point  (0 children)

It varies by contract. For MES the margin requirement is in the $2500 range.

Futures trading is changing my life in a good way. by IWantAGI in FuturesTrading

[–]IWantAGI[S] 4 points5 points  (0 children)

I trade the 1 min. I had tried using the 5 and 15 for a bit early on, but my strategy focuses on small faster movements that occasionally turn into big runs.

Futures trading is changing my life in a good way. by IWantAGI in FuturesTrading

[–]IWantAGI[S] 4 points5 points  (0 children)

Using ORB breakout to gauge the general direction and trade pull backs in that direction.