ES Journal - 2019/2020

I may have to sell my 420 shares of TLRY and spend it on some math tutoring. Then again, the market is doing a fine job...

Edit: Added math.

 

Indeed. P.S. Brave of you to counter-trend it today. When I try that I tend to get mucked up.

 

me too

 

This trade type has a 80% win rate with a 1:1 RR when trading discipline is maintained and all the right conditions are lined up. The biggest keys are time of day, new highs on an up day with an expansion bar, a time stop, and of course a stop the size of the expansion bar. The profit objective is a complete retracement of the expansion bar. The most subjective part entering the trade either during a tick frenzy to wait for a tick slowdown. Did I mention trading discipline as being key?

 

always good to have it on some days when you are not getting the mojo on in the ES. or practice new strategies. But the fees would eat into the profit, me thinks.

 

whats with the timed stop, how does that work??

 

I see ES is backing off from last Friday’s highs.

 

That's a great win rate. Still testing it?

 

If Im fighting a trend, I sure as hell don’t want to fight it for long. After five minutes or so, I would estimate the trade becomes 50/50 if profit target is not reached. After ten minutes, if you have not exited yet, exit here and go long with a tight stop.

 

I am satisfied with the viability of this setup and have been net profitable with it. However, I will not trade this setup if I am either physically or emotionally impaired such as flu or fight with the girlfriend.