eknollen Daily ES journal

Discussion in 'Journals' started by eknollen, Nov 8, 2012.

  1. eknollen


    Trading in increments of 5 cars, up to 15 maximum in a single position. Normally I stay in a single 5 car position. I blew up some time ago because I failed to respect my trading plan. Now i'm one of those people that can make money trading but doesn't have any. "Yes, we exist". Anyway, while trying to accumulate Capital I am just sim trading, so ill post my plan and results daily here. PS: I know paper trading is not real, etc, etc. I take this as seriously as I possibly can and don't have any options until I re-cap, so no need to kick me while i'm down.

    Overnight bullish bias from 18.5 to position for a possible aggressive target of 42. Watch for failure and reversals at 27.5 and 33.5. Noted failure at 27.5 leading to reversal. Sharp rejection level lead to setup of perfect cash session DT and a 20 pt sell off on failure of 1404.25.

    (This was the setup on cash open, seriously, what more could you ask for? http://screencast.com/t/i80dmpDgd7iy )

    Covered at 88, and had a perfect bounce off of that 83.75 which I unfortunately missed. Breach of 88 indicates we are going to vacuum all the way to 74ish on retest of 83.75.

    Daily performance: http://screencast.com/t/ZebX5wc6E
  2. eknollen



    Breach of 88 into vacuum area expected to yield at least 76. 73.75 would fill air pocket. Anything below 1406.75 is bearish, and I will attempt to sell 27 if I get confirmation, and hold it for that retest of low. Any new low below 1384 gives us low 70's. I will seek to cover short at 76.5, and buy 72, adding into a heavy position down into the 68 level. I will view any breach of more than one or two ticks at 68 continued bearish action. Looking for the level to get front run for a bounce back to 87.75

  3. eknollen


    Trade plan for 11/9/12

    Early ramp up in Asian session off lows expected, but way too deliberate for me. I am looking to fade this bounce and sell up against 83.5. I want this to act as resistance for a retest of lows and ideally a new low where I will be heavily long back up to 87.75 where I will be a seller. Failure of the 88 level will get me flat where i'll most likely just watch, but be looking for a retest of 97.5 and perhaps 1404 where I will aggressively sell up against 06.75.

    Failure of 68 I will view as extremely bearish and we could have a quick drop to 63.75. I really need a bounce back up above 1406.75 to feel bullish. That doesn't mean I am not expecting a nice bounce today.
  4. eknollen


    this is the results from the 9th.


    Poor execution... Was undisciplined in trade management as is obvious by my average time in them. Unfortunately stopped before that 88 short.
  5. NoDoji


    I'm flabbergasted.

    You posted a trade plan which called the market in advance near-perfect.

    Right after your post, ES double-topped. There's your short entry above 80.00. Price tested lows and broke to new lows.

    The failure of 68.00 resulted in a quick drop to 63.50.

    Price then ran up to 87.75, which was one freaking tick from the top.

    Trading 5 cars, your plan produced 40 points profit or $10,000 in less than 12 hours of trading.

    If you can't trade your own plan, I recommend starting a subscription service for your calls. :D
  6. I'm interested in this thread.
  7. eknollen


    haha. Well, I did get that short at 80, and covered at 68, went long, and got out quick. I bought the low at 63.75 so all was good but the way US Cash opened I covered my long and tried shorting against 72 expecting a new nominal low at 58 before a pop. I got tunnel vision in this and made a bunch of stupid trades before walking away.

    Something about Friday really seems to bring out the bad trader in me :mad:
  8. eknollen


    Tonight we've had a quick drop to 67.75. I am going to look for a bounce here overnight and sell into 77.0. If we dont get a bounce overnight I will be looking to buy 59, and failure of 59 i'll go flat. If we do get a bounce as I said i'll be selling into 77.
  9. eknollen


    that 77 is looking too aggressive, going to try to sell against 73.75 instead. A drop to 59 then reversal is the perfect scenario.
  10. eknollen


    http://screencast.com/t/YOZ9spzz was my performance yesterday. ETH did not really do enough of what I wanted to trade cash. A little lower and I would have got long, but that was the pop up I was looking to get from 59. This rejection looks very bearish to me. I am looking for a bigger drop soon, and remain bearish under 1406.75. Today I am looking to sell 1377.75. A break of that 1379.75, and ill be looking to sell into 83.25 cautiously. That area has the potential to pop back up to 88 really fast. I have no interest in longs today, and might try to set up for a swing short here if I can get in.
    #10     Nov 14, 2012