chart and trades for today attached. I was away from my computer till 12 today. In hindsight my first trade was stupid and I had no reason to take. My remaining trades I entered and exited according to my read of the chart and volume. The last trade I felt I followed the framework well and was expecting an increase in blk volume and the high of the previous bar to be taken out. I was stopped out.
Daily ES Sim trade August 27 2008 Closed position today. Trend was strong, and felt I had a good trade so far. Stop was at 1289.50 Price was nearing stop with a good run today. Daily ES bar was approaching lavender right trendline and volume continued to rise. Made an error on the sequences to exit as I thought it was going to be an accelerated traverse that was likely to hit stop. Still happy with trade. Point to consider from now on with daily trades. I will run two contracts. This position had allowed to take a very nice profit within three days of the entry. As much as 30+ points. Two contracts would have allowed to close one with gains, and allow the second to run. Closed Daily Sim trade today at - 1283.50 Entry was - 1303.50 Position closed with a gain of 20 ES points on 1 contract.
ES 20080827 Still finding it difficult to tell which laterals matter and which ones don't - until after the fact.
I felt really in tune with the market today, and fortunately I had the simulator up and running. It was suggested that I post my blotter, so I'll attach it (all times CST, and commissions are included). A few comments: -- My first entry after the lunch break was late because I was trying to catch up with my annotations and was a bar late on the FTT. -- I washed several times in the afternoon. This is an area I need to work on. I get fatigued late in the day so I make a lot of mistakes. For now, I would rather be a little trigger-happy and take an early wash than end up with a 3 point loser. -- I chickened out on my last exit of the day . I held all the way through that OB and then I was so wore out that I just bailed, right before it shot up 3 points on the last 2 bars before 4:00. -- I totally bungled the FTT at 13:45 CST. I was so hung up on the fact that it didn't meet Peak Volume requirements that I underemphasized the low close and JW change signal. Another instance of late-day fatigue.