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Trading the Micro Contracts


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  #81 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 825 since Jul 2022
Thanks Given: 892
Thanks Received: 944

It looked like the perfect counter trend trade!


Mik618 View Post
Why did you do this?


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  #82 (permalink)
lightsun47
Toronto, Canada
 
Posts: 364 since May 2018
Thanks Given: 494
Thanks Received: 303


blackgrey45 View Post
Put on one trade in the MES. It was counter trend during the last 3 hours of the market.






(Side joke)

Funny thing is, if you sell your 'system' and we trade reverse of your entries, that alone is also a proven successful system.

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  #83 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 825 since Jul 2022
Thanks Given: 892
Thanks Received: 944

I used mental stops today and reduced my losses significantly. I even had a couple of good trades.

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  #84 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 825 since Jul 2022
Thanks Given: 892
Thanks Received: 944

Got stopped out of every trade today so no big winners. Traded all MES.

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  #85 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 825 since Jul 2022
Thanks Given: 892
Thanks Received: 944

Had one awesome trade in MES. Added contracts on the way up. Exited for a nice profit.



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  #86 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 825 since Jul 2022
Thanks Given: 892
Thanks Received: 944

Another week begins and I will touch on my trading plans.
>For entries I will buy weakness and sell strength.
>For exits I will determine a suitable stop loss and exit the trade when my stop loss is hit. The stop loss will likely be 3-10 ticks. For winning trades I will implement a trailing stop. If the trailing stop is not triggered I will hold the trade until the end of the day. Further more, for winning trades I will add contracts as the winning trade moves further into profit. For instance, if a winning trade is 40-50 ticks into profit I will add a contract.
>For markets I will trade the MCL, MES, and M6E

Have a great week everyone, I will be posting my results at the end of every trading day.

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  #87 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 825 since Jul 2022
Thanks Given: 892
Thanks Received: 944

Traded the majority of my trades in MCL with a few contracts of the M6E sprinkled in. No big winners today though.



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  #88 (permalink)
 
syswizard's Avatar
 syswizard 
Philadelphia PA
 
Experience: Advanced
Platform: Multicharts
Broker: Ironbeam, Rithmic
Trading: Emini ES / NQ / CL / RTY / YM / BTC
Posts: 344 since Jan 2019
Thanks Given: 20
Thanks Received: 146

Just remember: EMicro trades incur approx. 300-400% the commish and fees of the regular EMini contract.....for the same leverage.

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  #89 (permalink)
 
Sandpaddict's Avatar
 Sandpaddict 
Vancouver, Canada
Market Wizard
 
Experience: Advanced
Platform: Ninjatrader, MT4
Broker: IB, Global Prime
Trading: Futures CFDs
Posts: 684 since Mar 2020
Thanks Given: 975
Thanks Received: 638


syswizard View Post
Just remember: EMicro trades incur approx. 300-400% the commish and fees of the regular EMini contract.....for the same leverage.

I like your journal 😊

I do have some thoughts but I'll keep them to myself except to say you do need outsized winners for that strategy and I wonder what your strategy for locking those in is?

Other than that I really think you are far ahead of most people I see at your level.

I also like you spreadsheets at the end of day. I'm gonna do that 👍

Keep up the good work 😊

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  #90 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 825 since Jul 2022
Thanks Given: 892
Thanks Received: 944

28 total trades, most were in the MCL. I let a couple trades get away from me with a couple $30+ losses. I have to say I really like where oil is trading but I think it could dip into the 70s.



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Last Updated on January 13, 2023


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