Thread by @ES_F_Leo

1/ Trading with Delta contd..

#FuturesTrading #Trading $ES_f $NQ_f $RTY_f $SPX $NDX

Last week a wrote a thread about how I use delta in day trading futures markets. Here's a few thoughts and chartbooks.

2/ NQ - I use a 1-10 Point and Figure with tick size of 2

3/ ES - Now, I don't trade ES nearly as much as I do NQ but here's the setting that I found most useful.

1-8 Point and Figure with a .5 tick setting

4/ CL -

1-6 Point and Figure with .04 tick setting

5/ The chartbook files for SierraChart with these settings are available for download here: dropbox.com/s/y3gk2sx72wh5…
When you translate these to your services symbol settings you will want to double check the tick settings.

6/ MotiveWave templates for NQ/ES here: dropbox.com/s/dxlpcoc75smk…
dropbox.com/s/uoef3ywjxoun…

7/ dropbox.com/s/3zj4fqsn3qgm…

8/ Some additional notes: I generally ignore delta zones around 10 minutes into the close, personally I think there's too much noise in the last 10 minutes to give tradable information to carry over into the next session.

Delta zones at the nut high or nut low of the day..

9/ I trade these carefully, (the more likely scenario on retests of these areas is actually a stop run of the hi's/lo's which could setup a fade after that initial stop run)

10/ The immediate trade opportunity -- my thread originally focused on taking these trades as a retest setup, however if you are actively watching spot a large amount of delta in a consolidation zone or repeated attempts by one party with no further progress.

11/ These can be good trades to take "in the moment"

12/ Context is KEY: No single strategy or setup should trump overall context, news events, clear reversals of market direction, trend days etc. should always be considered when using this setup.

Thanks for all the kind words! 🍻