Friday ES entire day analysis - amazing day- no indicators- by TRADERBEAUTY

[yamantaka]

Jane, I'm a systems trader. I don't think the bigger picture version as you've shared above would easily lend itself to automation since it involves a wee bit of discretion. However, your earlier no indicator version would.

 

Do you have any interest in working with me to develop that into an auto-trader?

[yamantaka]

@wcicom, you are incorrect. Each ES tick is $.125, not $.25., but your point about slippage is well taken. In truth a trader who buys ask and sell bid is losing a whopping 50% in slipppage on a one point ES trade. I think scalping ES without leasing a seat on the CME is a money losing proposition after all costs are factored in.

[Traderbeauty]

Hi yam. would love to. i used to be a very good easy language programmer, specialized on butterflies and condors etc on the euro.

Had 26 computers running 24/7 optimizing the results, oh well , that is history now lol.

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Traderbeauty-Jane

[Guest mroussos]

Friday was a great day for sure

 

Where can I find that divergence indi

 

thanks

[Traderbeauty]

Hi Mroussos

You can use any divergence indicator- it does not make a difference at all.

Remember- a div is only a potential for a future reversal or a retracement, its not a guarantee; so do not make a usual mistake that we all mak- meaning- you see a divergence and you swear that the market is going to retrace and guess what- it just continues and take you out.

To my humble opinion- dont waste you time with indicators, check you fibs on top of the indicators and if you see a divergence right when the fib extension is 1.272 or 1.618 then take it , but keep in mind that this is just a retracement.

If the fib is less that 1.272 then this is either a symmetry with a retracement equal to the last leg or a reversal.

But as long as the fibs are 1.272 or more then most likely the trend continues.

Traderbeauty-Jane