Thanks for clarification, Matt! I was looking at 15-minute
charts (as per your tutorial), and a 2080 as a target (your pink 9
ema). I believe that 2080 will still be achieved overnight, but I
will not bet on it. Yes, I was looking for a 3:1 ratio, which we
may still get if 2082 is tested.
junkie- here's an update to those trades, nice rally to
the 20 MA, your first target is always the 5 EMA, then the 9 EMA,
then the 20 EMA. I generally like to take 2 - 3 contracts and
scale out of one at the 5, 9, and 20. However this time I
only took 2 and was out by the 9 EMA so price went higher, but good
educational example
when doing these RVM trades on ES, I look for setups on a 5, 10,
and 15 min time frame, best trades come from dojis
Yes, RSI(5) was below 5% on 15-minute charts and below 10% on
two-hour hour charts. Those numbers seem to reliably point to a
successful reversion-to-the-mean trade. An inverted hammer was a
good trigger. I had a day order at 2084.25 on September, which was
not triggering, so I cancelled the trade. Day orders do strange
things on IB, sometimes they trigger out-of-hours and sometimes
they trigger only during the cash hours. I had a buy stop, I
probably should have used a GTC order.
If you see a similar setup again, please make a note on the
blog. Thank you, Matt!
another thing I like to see is the MACD/BB indicator get super
wide like a balloon, that's always a good indication that the trade
will play out, see the chart
okay I have to record this final newsletter
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Thanks for clarification, Matt! I
ES 15 min futures
Posted by junkie on 14th of Jun 2015 at 07:50 pm
Thanks for clarification, Matt! I was looking at 15-minute charts (as per your tutorial), and a 2080 as a target (your pink 9 ema). I believe that 2080 will still be achieved overnight, but I will not bet on it. Yes, I was looking for a 3:1 ratio, which we may still get if 2082 is tested.
junkie- here's an update to
Posted by matt on 14th of Jun 2015 at 08:58 pm
junkie- here's an update to those trades, nice rally to the 20 MA, your first target is always the 5 EMA, then the 9 EMA, then the 20 EMA. I generally like to take 2 - 3 contracts and scale out of one at the 5, 9, and 20. However this time I only took 2 and was out by the 9 EMA so price went higher, but good educational example
when doing these RVM trades on ES, I look for setups on a 5, 10, and 15 min time frame, best trades come from dojis
Yes, RSI(5) was below 5%
Posted by junkie on 14th of Jun 2015 at 09:46 pm
Yes, RSI(5) was below 5% on 15-minute charts and below 10% on two-hour hour charts. Those numbers seem to reliably point to a successful reversion-to-the-mean trade. An inverted hammer was a good trigger. I had a day order at 2084.25 on September, which was not triggering, so I cancelled the trade. Day orders do strange things on IB, sometimes they trigger out-of-hours and sometimes they trigger only during the cash hours. I had a buy stop, I probably should have used a GTC order.
If you see a similar setup again, please make a note on the blog. Thank you, Matt!
another thing I like to
Posted by matt on 14th of Jun 2015 at 09:02 pm
another thing I like to see is the MACD/BB indicator get super wide like a balloon, that's always a good indication that the trade will play out, see the chart
okay I have to record this final newsletter