This is an interesting thread and I've tinkered with many chart types and settings in my journey day trading the ES. Ultimately, I discovered that discretionary trading does not fit my personality, so I took some time off and worked to develop an automated strategy that I manually back tested and trust. Am currently backtesting and forward testing my strat in the ES.

So, the strategy works very well on the ES with 2400 tick chart in back/forward testing and decently on the ES 3M regular bar chart. However, the 3M chart doesn't give me the number of trades or profitability level as the 2400T chart. I am trying to adapt it to the Micro ES (to build up a scratch account) and having difficulty dialing in the best tick setting, since both instruments trade different volumes an appeal to different groups of traders.

Has anyone found a general rule of thumb to "scale" an ES tick chart to the Micro ES? An earlier post mentioned 900t chart on the Micro but that doesn't quite work in my scenario.

TIA,

Matthew

Matthew2158 

This is an interesting thread and I've tinkered with many chart types and settings in my journey day trading the ES. Ultimately, I discovered that discretionary trading does not fit my personality, so I took some time off and worked to develop an automated strategy that I manually back tested and trust. Am currently backtesting and forward testing my strat in the ES. So, the strategy works very well on the ES with 2400 tick chart in back/forward testing and decently on the ES 3M regular bar chart. However, the 3M chart doesn't give me the number of trades or profitability level as the 2400T chart. I am trying to adapt it to the Micro ES (to build up a scratch account) and having difficulty dialing in the best tick setting, since both instruments trade different volumes an appeal to different groups of traders. Has anyone found a general rule of thumb to "scale" an ES tick chart to the Micro ES? An earlier post mentioned 900t chart on the Micro but that doesn't quite work in my scenario. TIA, Matthew

If I would trade micros, I always would chart the "main" instrument (in your case, I would chart the ES and trade the MES)

tr8er 

If I would trade micros, I always would chart the "main" instrument (in your case, I would chart the ES and trade the MES)

I would like to do this, but I am not sure if that is possible using an automated strategy as it only trades on the Level 1 market (in this case Micro ES). I'm new to auto trading, so I may need to ask this elsewhere. I am using Mulitcharts.net.

Matthew2158 

I would like to do this, but I am not sure if that is possible using an automated strategy as it only trades on the Level 1 market (in this case Micro ES). I'm new to auto trading, so I may need to ask this elsewhere. I am using Mulitcharts.net.

Try using a trade copier.

It will copy your ES trades (run them in Sim for your strategy) and enter them on a MES live chart.

This is also a great way to increase contracts with live ES trades on a micro scale. I have been doing this for awhile and had no issues.

I would suggest one, but I use Repikanto for Ninjatrader 8. I am Not familiar with Multicharts.

Matthew2158 

... Has anyone found a general rule of thumb to "scale" an ES tick chart to the Micro ES? An earlier post mentioned 900t chart on the Micro but that doesn't quite work in my scenario. TIA, Matthew

You could create a chart with 2 instruments. First, you add the MES symbol then the ES. The MES is set to use the daily, transparent and for ES you set the desired bar type and period you want to watch and set the panel to 1. This way when you open a trade, it will target the MES.

trendisyourfriend 

You could create a chart with 2 instruments. First, you add the MES symbol then the ES. The MES is set to use the daily, transparent and for ES you set the desired bar type and period you want to watch and set the panel to 1. This way when you open a trade, it will target the MES.

@trendisyourfriend, that is a good suggestion, actually one I've tinkered with in theory when manually trading in the past. Unfortunately, I'm pretty sure Multicharts won't let me reassign data series numbers and the way my strategy is setup it only trades off of #1 layer data series which would be the MES "hidden" chart, although I could visually see the ES on the chart. I've asked my coder if this is something that can be programmed in MC.net, awaiting response.

Before 9:30AM EST, I analyze the NQ 5min chart but zoomed out to see where price is relative to the past week/month and how it has acted at key levels (short-term support and resistance).

Right before/at open, I pull up the 5min chart but zoomed in to focus on price action near a key support/resistance level.

I only trade NQ and only from 9:30-10 sometimes 10:30AM max.

I dominantly use a 5-minute chart. And, I have an additional 15-second chart for fine-tuning.

This thread question asks WHY. My reason is there are patterns in the market and I have found them in the small puzzle.

Matthew2158 

@trendisyourfriend, that is a good suggestion, actually one I've tinkered with in theory when manually trading in the past. Unfortunately, I'm pretty sure Multicharts won't let me reassign data series numbers and the way my strategy is setup it only trades off of #1 layer data series which would be the MES "hidden" chart, although I could visually see the ES on the chart. I've asked my coder if this is something that can be programmed in MC.net, awaiting response.

I was able to map chart vs. broker symbols to the ES and MES, respectively, for the given trading account. That perfectly achieved what I was after!

MT

half hour suits my needs best. My goal is to be in one trade maybe two each day. I trade four markets; Russell, gold, oil and coffee (weird i know). The way I trade, whipsaw is my number one enemy, closing times are number two. 30m is to my mind is the best compromise to overcome the 2 difficulties and maintain my sanity. Did I mention I dont like whipsaw? Here's a song about it (if you dont know)

whipsaw