Eminis PnF
Eminis PnF
Hi folks,
As per my promise, here is my first post regarding a strategy for trading the S&P emini ES
You probably know I'm a big fan of PnF for intraday trading so I applied a technique from a very successful trader of FTSE to the S&P emini.
The set up is a PnF chart set to Box size 1, reversal 2
The technique is to trade 5 box reversals, thus always being in the market.
The results have not allowed for slippage (overnight moves mainly) or commission.
Since the 24th December 2002 this method has produced a profit of 213 points from 56 trades. The worst drawdown has been 6 points!!!
Thats over $10,000 of profit per contract net of costs in about 7 weeks.
I'm not saying such wonderful performance will continue, but it augers very well indeed.
JonnyT
__________________
Trading Mentor
Hi JonnyT,
Interesting post. I actually just started seriously looking and P&F for intraday yesterday myself. One question though, if the reversal size is 2, how do you get a 5 box reversal?
Cheers,
H.
JonnyT,
Could you post a chart as an example, for us to look at? Perhaps one of your recent trades.
Cheers
db-t
Quote:
Originally posted by Henry
Hi JonnyT,
Interesting post. I actually just started seriously looking and P&F for intraday yesterday myself. One question though, if the reversal size is 2, how do you get a 5 box reversal?
Cheers,
H.
The chart is constructed using 1 point per box, and a 2 box reversal criteria, however, the trades are entered and exited on 5 boxes being filled in the opposite direction.
With PnF it is important to get a scale-view of the chart that you are trading, sometimes the reversal criteria are also the trade points, but not always - as in this case.
If you get your chart optimisation right, there are several other types of trade that you can make from the same chart.
TBS
__________________
TBS
TBS is offline Coach/Trainer
Click the image to open in full size.
This is how the action for the sp's today would look - granted it has been a very tight range so far - hence a coulple of losing trades.
__________________
TBS
TBS is offline Coach/Trainer