NexusFi: Find Your Edge


Home Menu

 





Blackgrey45 Journal


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one blackgrey45 with 306 posts (540 thanks)
    2. looks_two deaddog with 19 posts (17 thanks)
    3. looks_3 COoneguy with 11 posts (8 thanks)
    4. looks_4 HiLatencyTRDR HLT with 7 posts (8 thanks)
      Best Posters
    1. looks_one bobwest with 3.8 thanks per post
    2. looks_two blackgrey45 with 1.8 thanks per post
    3. looks_3 deaddog with 0.9 thanks per post
    4. looks_4 COoneguy with 0.7 thanks per post
    1. trending_up 38,688 views
    2. thumb_up 651 thanks given
    3. group 25 followers
    1. forum 385 posts
    2. attach_file 8 attachments




 
Search this Thread

Blackgrey45 Journal

(login for full post details)
  #11 (permalink)
Cools81
Melbourne, Australia
 
Posts: 24 since Jul 2022
Thanks Given: 12
Thanks Received: 21

Interesting. Can you elaborate with pics? or explain why a 3 tick stop and why only one trade a day?

3 tick stop has me intrigued.

Cheers.

Reply With Quote
The following user says Thank You to Cools81 for this post:

Can you help answer these questions
from other members on NexusFi?
Tradestation historical data to be used in NinjaTrader 8
Platforms and Indicators
PowerLanguage/EasyLanguage Trying to use a Function as a …
EasyLanguage Programming
Optimal Futures Trading Workflow
Platforms and Indicators
Any experience with Affordable Indicators - Duplicate Ac …
Trading Reviews and Vendors
convert tradingview pinescript to ninjascript indicator …
The Elite Circle
 

(login for full post details)
  #12 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP
Trading: MES MCL
Posts: 615 since Jul 2022
Thanks Given: 720
Thanks Received: 757


Cools81 View Post
Interesting. Can you elaborate with pics? or explain why a 3 tick stop and why only one trade a day?

3 tick stop has me intrigued.

Cheers.

3 ticks is the maximum amount I want to risk per day. I suppose I could trade one contract of the MES and risk 30 ticks a day in that instrument, but I like trading the ES. Just a personal choice. Sorry I don't have pics because I don't use charts. I use the DOM and an Excel spreadsheet.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
(login for full post details)
  #13 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP
Trading: MES MCL
Posts: 615 since Jul 2022
Thanks Given: 720
Thanks Received: 757


Current ES volume: 1.198 million

Visit my NexusFi Trade Journal Started this thread Reply With Quote
(login for full post details)
  #14 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP
Trading: MES MCL
Posts: 615 since Jul 2022
Thanks Given: 720
Thanks Received: 757

ES trade for 10/13:

1 contract traded
Direction is short
Entry @ 3564.50
Exit @3566.25
Loss of -$87.5


I lost more than my typical 3 ticks. When my stop was triggered the liquidity disappeared and it lost a lot in slippage. There are no excuses but that is what happened.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
(login for full post details)
  #15 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP
Trading: MES MCL
Posts: 615 since Jul 2022
Thanks Given: 720
Thanks Received: 757

3.2 million ES contracts traded today

Visit my NexusFi Trade Journal Started this thread Reply With Quote
(login for full post details)
  #16 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP
Trading: MES MCL
Posts: 615 since Jul 2022
Thanks Given: 720
Thanks Received: 757

ES Volume @1:12 EST: 1.94 million

Visit my NexusFi Trade Journal Started this thread Reply With Quote
(login for full post details)
  #17 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP
Trading: MES MCL
Posts: 615 since Jul 2022
Thanks Given: 720
Thanks Received: 757

ES breached 3600 again.

ESZ2 contract volume @3:21pm EST - 2.29 million

Visit my NexusFi Trade Journal Started this thread Reply With Quote
(login for full post details)
  #18 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP
Trading: MES MCL
Posts: 615 since Jul 2022
Thanks Given: 720
Thanks Received: 757

Very nice rally in the ES today.

ESZ2 contract volume @12.52pm EST: 1.25 million

Visit my NexusFi Trade Journal Started this thread Reply With Quote
(login for full post details)
  #19 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP
Trading: MES MCL
Posts: 615 since Jul 2022
Thanks Given: 720
Thanks Received: 757

Two ES trades today:

1 contract long, entry@3687, [email protected] for a -$12.5 loss
1 contract long, [email protected], [email protected] for a -$12.5 loss

Also traded the 6E
1 contract long, [email protected], [email protected] for a -$6.25 loss

Visit my NexusFi Trade Journal Started this thread Reply With Quote
(login for full post details)
  #20 (permalink)
kamaiu
Singapore, Singapore
 
Posts: 14 since Oct 2022
Thanks Given: 1
Thanks Received: 14



blackgrey45 View Post
Two ES trades today:



1 contract long, entry@3687, [email protected] for a -$12.5 loss

1 contract long, [email protected], [email protected] for a -$12.5 loss



Also traded the 6E

1 contract long, [email protected], [email protected] for a -$6.25 loss



It appears it is statistically stacked against you for 1-3 tick stop loss in the ES, but letting a winner run all day. That would mean you would have to perfectly pick the low or high of that trading session. Your RR would need to be greater than the ATR of a trading session. Your risk of ruin is likely 100%. Death by a thousand cuts.

1-3 ticks is more market makers / high-frequency land in todayís ES market. Scalping less than 4 ticks would require a stop greater than the reward and a high win rate to make up for that extra initial risk. The market can go 3 ticks in milliseconds and pop right back. This is easy work for a market maker.

You can also add more contracts on the MES. 10 = 1 on the ES. You are trying to swing trade and need to size your position according to a reasonable stop like a few ticks above/below a swing high/low. That could be 10, 20, 40 ticks away. If itís too far for your taste, then itís just not a good trade to take.

Reply With Quote
The following user says Thank You to kamaiu for this post:





Last Updated on November 5, 2023


© 2023 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts