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Today I didn't take any ES trades because I've been focusing on the ZN lately. But I thought I would still take a minute and pull up some ES charts and see what they look like.
Ok the big chart (above). All we really care about on this chart is direction. Direction is long because price is above EOT's Allas Avg.
The medium charts (above) are for picking reversals only. We know we want only longs since our big chart made that clear.
I can't show a small chart today because mine is messed up, I am playing with some new EOT stuff.
Remember not to be greedy. Two or three trades a day is all you need, with 1 to 2 points each. You can make $500-$1000 a day with that, just get comfortable scaling up the contracts.
Also keep in mind sometimes simple is best. I think my charts show you can be simple and still have a lot of information at your hands.
Mike
Can you help answer these questions from other members on NexusFi?
hey guys sharky again lol always trying to point things out that i see that i did before,indicators..............STOP ......... lol the whole point of indicators is so you can see what the chart is trying to tell you in a way that your mind can comprehend.. but after you use a indicator long enough you should be able to look at the same chart with no indicators and see the same thing, we have to be careful that we dont spend all our time learning a million different indicators and methods and make sure we spend our time instead,,,learning market behaviour thanks ...sharky
I have not been trading the ES really for about two weeks, while I continue my focus on the ZN (follow that here). I know many of you only trade ES and enjoy looking at my charts, so that is why I am posting them.
Here are screen shots for today. Again, charts show Central time zone. I use the 4 range for entry, the 2584 volume for reversals, and the 10946 volume for big picture trend. I am also playing with 4 tick renko for the big picture, so will post that here as well.
Williams %R settings 7,14,0. I don't enter on renko, because I don't trade my big chart. I enter based on my small chart.
I've been using 10946v on big chart for ES, but am liking renko having recently looked at it, because it absorbs some a lot of noise.
For me, I can't trade well off just one chart. So I use three charts, each with a specific purpose and a minimal number of indicators. I like using different types of charts (range, volume, renko) because each of those also have unique purpose.
We found four or so small trades to make in our live room, all winners as far as I can recall. It definitely takes more focus to pull trades out of a market like this, but it can be done!
Have you played any more with vr4x1? It's such a big help in identifying which direction we will come out of choppy areas.