Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Analytic Trading Journal: Contract: MES
Method: Momentum MicroTrend Following, Pullback Entry
Process Driven Trading
Platforms: NT8, Bookmap, Jigsaw, TOS
Conditions for Entry:
1) MFT Volume and MFT Order Flow in same direction.
2) Strong trend with strong pullback to statistically significant level
3) Pullback -> approx 50% retracement in ticks and volume from last swing
Can you help answer these questions from other members on NexusFi?
Market Condition: Long Conditions did NOT exist this morning for MES.
Action: Decided to only trade in Sim using momentum micro trend following with pullback entries in both directions.
Comments: Weird breakdown to yesterday's settlement level at 3062 with a bounce straight up. Almost as if someone was
angry they missed yesterday's rally and wanted to get long at a much better price.
I did well in the morning, the afternoon was a struggle but I held onto most of my gains.
Metrics:
Trading size: 1-4 MES
MAX DD in the morning was 18.50
MAX DD at the EOD was 163.75 (ugh!)
Average MFE/MAE = 1.75 -> a bit low but not too bad
Market Condition: No Long MTF Conditions, Cycle Mode
Action: Switch to short term momentum micro-trend following in Sim.
Comments: Expiration week contributing to sideways price action as gamma hedging may be less important now.
MAX DD still too high and Average MFE/MAE too low due to choppy market
Market Condition: Short Cycle Mode, No Momentum.
Action: Traded MMTF and then switched to scalping off statistically significant levels. Traded in Sim only.
Comments: Sim trading was the right decision today.
Being one day away from Options expiration, there was no significant gamma hedging
affecting ES/MES futures therefore no real momentum. I expect more of the same behavior tomorrow.
It's not worth trading real money in Short Cycle Mode markets.
Market Condition: Underlying Daily Down Trend with some mean reversion to settlement.
Action: Traded as if this was a mean reverting cycle mode market. Discounting the underlying down trend was a mistake.
Sim trading only today was the correct decision.
Comments: Friday Expiration day was unusual in that there was a strong down trend component to this market.
It behaved like a standard expiration day in that there was mean reversion to the settlement price 3 times
Mid afternoon recovery on high volume and double bottom but price could NOT be maintained above
settlement and collapsed at 4 PM EDT.