Micro pennant...continuation pattern..bot the breakout at 1301.25..sld it at 1305.25 Profit tgt set at 1.5 times width of pattern..would have stopped at a close below.
Put on 3 more Last green buy arrow was not properly placed...should have been one candle over on the screen @ 1277.75 My goals for the day were to stay calm, not be directionally biased, stick to one contract and try to make 2x what I risked Mission accomplished
One trade so far. sld @ 1346.75...bot @ 1342.75...4 pnts...$195.4 net ------------------------------------------------------------------ My experience tells me to expect some volty compression today. Lots of whipsaw. But who knows... Goals today. Only take my triple A setups. Stick to one car and make 2-3x expected reward/risk..ending green is always nice as well. But more ending red is ok as long as rules are followed in my opinion.
6 trades today total. Got whipped around a bit. But kept my cool..and stuck to rules. I consider that a winning day. $+72.40 net Side Avg.Price Pnts Sell 1346.75 Buy 1342.75 4 Buy 1355.5 Sell 1353.5 -2 Sell 1352.25 Buy 1355 -2.75 Sell 1353 Buy 1355 -2 Sell 1353 Buy 1354 -1 Sell 1351.75 Buy 1346 5.75 6 r/t`s @ 4.60 $27.60 2 $100 gross $72.4 NET Avg Win Avg Loss Reward/Risk 4.875 1.9375 2.516
Technically 5 trades so far today...in reality 3. The open ecry platform triggered 2 stop orders I had placed prior to the 9:30 EST NY open, on the open. Very strange. I covered them straight away but it messed with my mind a bit. I will post all results. But plead technical issues on the first 2. Plus the software is showing me up 162.5 when actual pnl is 137.50...more strange. Probably done for the day. Even though I recovered from 2 software issues and 2 losses (all back to back) pretty well I feel kinda steamed for the tech issues. 27 round turns this week @ $4.60 = $124.20 in commission..so that makes me +725.8 NET this first week. Dont know how that compares with the typical ES trader but I feel pretty happy with results. Stuck to goals of High R/R ratio and taking quick losses. I think after 100 trades or so I will have to analyze how far my winners keep going on avg. If I had to guesstimate I would say they keep going pretty good..probably another 5-10 pnts on avg. Would be nice to sit on my hands a little longer for them. Could add to the bottom line significantly.
By all accounts I should have gotten carried out this morning. Lost on first 5 trades in the chop. Made it back by catching the run from 10:40-11:40 then the pullback from 11:45-12:20..top then bottom ticked it. You can see the markers on the 1 min chart. 16 freakn r/t`s $82.8 in comm...$167.20 net Lost on my first 5 trades...just got whipped around. Then put my head down and churned it back. I hate losing. Done for the day. ---------------------------------------------------------
Just a guess here. But I assume that if you strapped a monkey to my desk, forced it to smoke crack cocaine and then let it trade the results would be on par....or better. Got ripped around in the morning again. Seems to be my MO. Getted chopped in the AM...churn it back by the PM. Perhaps I should trade the afternoon only? I feel like I can "see" things form up better. $146.80 NET --------------------------------------------------------------------------------
Not going to trade today. Have overtraded last two days in the chop. Need a break and of course today with fed meeting will be light and whippy. ------------------------------------------------------------------- I beleive we have a 100% chance of 25bp cut followed by a sell off. DX will probably hang tough. Recent sell off has factored in the insanity. Spinning top candle on the 30th, followed by a hammer yesterday..seems to indicate a leveling off in price action. I remain a long term bull on the $...added to UUP yesterday. -----------------------------------------------------------------------
Got stopped out on first two trades. Then took a large gamble relative to account size this morning. I was really feeling the consolidation pattern from 10:15-10:50 so I slowly bought 5 contracts. My thinking was that they either pop them or crap them very soon. If they crap them we take out the previous intraday higher/low then plummet to LOD fast. If that happened everyone and their mother would sell stock and send them to new lows allowing for plenty of time to make it back on the short side. Turns out I got the pop...gut feel mixed with a lil lady luck. Done for day...not gonna push it....$605.30 net ---------------------------------------------------------------
First trade of the day was long and lovely. Then after missing the trendline break to the downside I tried to sell the first good bounce on the bottom...that was fun. Got whipped out a bunch on the chop then managed to scale some sells on the breakdown of a small consolidation pattern. Covered them for a couple points and closed the platform. Lucky to be green again...13 turns.. $127.7 net I think since I have been green for 2 weeks I will move up to a 2 car standard size for next week. ----------------------------------------------------------------------