so that's waht happens in the ES...lol.. not the 1st and won't be the last. Took a short at 1100...-2 pts. I realized the DT at 03 but it is too far away for me to place my stop a few tics above there. I re shorted 1102.5 and +1pt and +6 tics on the balance. the previous structure I saw might have been correct as far as testing the highs but I changed my short term bias to down instead of staying with the bigger picture . The re test of the short term bot in the 97 area didn't have the vol I would have liked to convince me that the short side was the way to go but I wasn't paying attn....my fault. that area would have made a great L opportunity but you can't win em all and it's easy to say now in hindsight. Th only problem I have with this is that this is one of my primary setups and I really played it like an amateur. I was doing a few other things.....Lack of focus....I should have taken a double size position and got my ass kicked....best way to learn a lesson The good thing is that I didn't get all pissed off once I realized what I did. Instead I was able to get a short trade at the DT...which is a legit setup for me.... and recoup. I was looking at that as the the top of the area I wanted to see them clear in order to test the hi's , so a pause and pullback there was expected. That's it for me today
Walt, NP I don't plan on posting a PNL because I never look at it. It goes back to the old SOES trading days...98-2003...w couldn't take the PNL off the monitors the first few years. We wound up trading in defensive mode and it became a nightmare. There was over 100 guys in the office and it became really uncomfortable to have everyone be able to walk by ur desk and look at ur PNL too. Programs were originally written in DOS and we were limited in functionality. We used to put tape on our screens to cover up the PNL and when you would got to lunch other guys would mess around and pull the tape off...hence the fist fights lol...ahhh the good old days. Anyway, Most of us , if there are any still left, don't look at the PNL. I can't speak for anyone else but ponce I know whaere I am at for the day, week , month...I trade differently. I try to protect a whole # or get too aggr. to try and make $$ back. Most people think it is insane not to look but it's what has worked for me for quite a while now and I am not going to mess with it. Sometimes the swings are big and the days are great/ugly...when u feel your heart beating or if thoughts other than trading pop into your head while trying to focus, it's not a good thing for me. The more even and level headed I can stay the better. Posting here is already a challenge and my entries are not what I am used to but it will take some time and I'm wiling to give it a shot. Hope that makes sense
waiting on NFP...have orders set for long in 1 acct and short in another acct. After 1 gets triggered I willcxl the other. Basic BO trade of either side of this sideways range.
first trade of the day worked out well but I'm sure I had some major slippage on entry & exit so it all balances out imo got L 83.5, a level from yest but only got +1 pt 1/2 position & -1 on bal....BE still nursing a L from 79.75 ...scaled on the way up and had 1/8 pos left when I added 1/2 position at 81.25. 87 support area from yest acted as res so far today but I scaled out of the remaining portion at 84.5. A few small scalps all on the Long side but nothing to write home about. trading in the middle of days range @ the moment. Price seems to have found value in the 81-87 area for now. I will look to trade the extremes for now & will be selective as it's NFP Fri in the summer time
looking for poss L 76.5ish or poss buy stop at 80ish...depends on PA if it's moving too fast when it gets down there I'll be looking at 73 area
almost got long on the 12:04 bar (1 min chart) with big vol into the 76 area but the tape was moving quick and I think I can get a better entry with less heat a little lower Stupid thing is, I really should have been short. ES couldn't hold the open price even tho it tried to push thru. 73 is next area of interest as mentioned.
missed the L in the 73 area the bounce on light vol into res area was a nice setup for a short but I was a bit too focused on the L side for some reason