My bias was bullish going into the NFP release, which worked out well. After the NFP release at 7:30, ES popped to 1131.50 and then pulled back to Support at 1126. I posted real-time scenarios on Twitter, which worked out well and kept me out of trouble. Trading trend days is not my strength, but I am working on it and slowly improving. I used to lose money on trend days because I would take too many counter-trend trades, too early. Now, I'm still taking counter-trend trades but I'm taking them at the extremes, e.g. I shorted 1138.50. This also shows how being aware of the Key Levels and generating bullish/bearish scenarios the night before and during the day has helped my trading. Hope you all did well, have a great weekend!
ES 5-Minute Chart
ES 30-Min Volume Profile Chart
ES Day Session Volume Profile Chart
I have a similar problem with trend days (especially if they are bullish.) Glad to hear it's gotten easier for you, it gives me hope.
ReplyDeleteHi emini player
ReplyDeleteI am new to futures and your blog showed up in google. General question..What are the typical future instruments good for momentum scalping ? ES is one, I believe..Are there others that you would recommend me to look into ? Thanks!
rookie
I feel most comfortable with ES, but there are more volatile instruments such as the Russel2000 (TF) and Crude Oil (CL). More volatility means you can make more, or on the flip side, lose more.
ReplyDeleteThanks! I have looked into TF..Why do you say it is volatile ? Tick Size .10 = $10 for TF, whereas with ES it is $12.5. Do you mean the average day range instead ? Could you please shed more light. Because I am wondering which future to pick, so still trying to understand more from existing players..
ReplyDeletecheers
rookie
Yea, I mean average range. More movement/range (volatility) means more short-term trading opportunities.
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