Revised: +$28. I figured out an insider was selling (via comtex on tradestation), so I waited for an ES push to the downside and shorted. Of course, it doesn't matter that I make $28 or lose $28, so much as I go back to my program and correct issues that popped up today that caused me to have less profit than what would have otherwise been acceptable.
+ $717 Very narrow ES range coming into the ADP report. I thought the â+40K jobsâ estimate seemed patently absurd, so I placed a sell stop below the range low, filled @ 1166.75 with real follow through for a change. I had 4 pts showing and with two lots, wouldâve taken off half, but only trading one lot, I decided to move my stop to a tick above 50% retracement of the move and see if this one could ride a while. Stopped out shortly after the open, and when price only moved a few ticks further and retraced the final up bar, I re-entered @ 1165.25 and covered @ 1162.00, having learned to take profits quickly in this narrow range trading, especially when price decently overshoots the channel line. Shorted POTâs lower highs, starting at 9:42am, took 3 moves for .89, .79, and .82, and left a LOT of money on the table with the last trade. Late in the day, ES appeared weak and I shorted @ 1166.00 looking for a quick breakdown to test the low, but no such luck, out @ 1164.75, and called it a day. Considering I'm only trading ES for possible breakdown scenarios, not a bad day.
-$70. I should have punched out at break-even, but I expected more out of my trades. Didn't happen. Could not get the break I wanted.