[hunter1]

In the interest of helping young traders and all traders I shall divulge all you need to know to make money trading the eminis. This is of course a simplification but use this as the basis for your trading methods and you will make all the money you want.

Watch the tape. Learn to tell which direction the little guys ie. suckers are going. Watch the 1 ,2 and 3 lots. If the are buying heavy you are looking to sell if they are selling heavy you are looking to buy. That is all you need.

If your indicator of choice method etc gives you those trades take them. If its giving you a trade in the direction of the little guys DO NOT TAKE THE TRADE.

[brownsfan019]

Great! That's all you need to know to trade?

[hunter1]

Can you read price? Can you read the tape? Do you make money each and everyday? If not then don't roll your eyes. Indicators lag. Most newbies trade methods like mA crosses stoch nonsense etc. You must be able to read the market in real time and understand what it is telling you. The easiest way to do this is watch the tape and watch the little guys. If you do you will see that time after time after time they come in and then get punished by the smart money. It is a given. So you don't want to trade with them you want to trade with the smart money which is usually against them.

A form of tape reading is 1/3 of my trading method. 1/3 is my method for trend. 1/3 is my method for trade zones. Plot the zones then watch the tape. Take the trade. Do that 4 to 6 times and go work out. I scalp for 1 point a trade and run a few trailing contracts with b/e stop. Initial stop is never more than 2 pts and often less. I use 2 charts and that's it. Nice and simple.

[Trader333]

One point on ES is 4 ticks so is that what you mean ? Also which platform are you using to watch the tape ?


Paul

[hunter1]

Trader 333 yes 1 pt = 4 ticks. that is what i mean. 4 ticks per trade for base unit then let something trail.

I use trade station time and sales. Just watched another little guy wipe out before I posted this.

[trader273]

I always find it funny when people go back and forth of indicators vs no indicators. There are a million ways to make money in the market, and to think there is one way is a joke.

MODERATOR:
Please change the title of this thread to something like, "One way to scalp the Emini's"

[sevensa]

Originally Posted by hunter1 »

In the interest of helping young traders and all traders I shall divulge all you need to know to make money trading the eminis. This is of course a simplification but use this as the basis for your trading methods and you will make all the money you want.

Watch the tape. Learn to tell which direction the little guys ie. suckers are going. Watch the 1 ,2 and 3 lots. If the are buying heavy you are looking to sell if they are selling heavy you are looking to buy. That is all you need.

If your indicator of choice method etc gives you those trades take them. If its giving you a trade in the direction of the little guys DO NOT TAKE THE TRADE.

What about my EOD trading where I don't read price nor the tape? Are you saying that I am doing it wrong, since I am not doing it like you?

To be frank, your advise is a useful as saying all you need to know to make money is to buy low/sell high and short high/cover low.

[steve46]

Generally speaking, the success of retail daytraders is going to be distributed randomly. That is to say, for any single event trade, there are likely to be both skilled retail traders as well as unskilled newbies taking trades. I don't pay much attention to them one way or the other....

There are "fades" but nothing that a screen trader could make use of without having some experience and a squawk to listen to. For instance in the pits it used to be said that specific brokers (Refco for instance) were good fades. So if you saw them coming in to buy you might want to lean on them for a short, thinking the top was in...(lol) and vice versa. Frankly for me, it works best to rely on the positive expectancy of my system and to just take the signals and manage the trades in a disciplined way. Otherwise you are always going to be second guessing yourself.

Good luck Folks
Steve