ES Trading

Likely beginning soon, I will start trading a new ES system and will no longer trade anything else for the time being. ES had been in my arsenal many years ago but I guess I needed a long break before really thinking about it again. 2007 was the last time I really traded it with full focus. And that ended a bit badly as some of you may recall.

This time around, things should, no they will be better. I have revamped what I was doing back in 2007 and instead of “averaging down” with an absurdly huge/no stop point, the holy mother of all trading sins some would argue, I will be “scaling into full-size positions.” I have developed 2 Ninja indicators that tell me when to start looking for a trade, what direction that trade will be in, and at what points I will scale in. Basically I begin to enter on a retrace of an established trend. The deeper the retrace, the more committed until I reach a full size position or take profits (all out, no scaling), or am stopped out.

The exiting part of plan is still being tweaked and backtested but will involve R:R of at least 1. Some SIM trades from today: Total 26 ES contracts, 5 trades, $1950 in SIM profit. Of course this means nothing on a simulator, which I rarely use, but wanted to get my ES sea legs back under me.