Best part of my trading job is reviewing my trades the following day.

Especially when I enter at optimal locations. Though my exits don't look that great, it was at strategic locations according to my expectation of 40 pts ATR day. I didn't expect a 60 pts day. Almost 3 times that of Monday & Tuesday!

Overall, satisfying day but still need to work hard to capture 80% of daily ATR.

Thursday - May 11 2023

My bias is short today. My usual method is unreliable when price oscilates around 20 DMA. Hence I'm relying more on price action pattern i.e Bullish engulfing day yesterday.

Short RTH open @ 4141 and exited @ 23.

Result = + 18 points.

My re-entry limit order @ 4134 is not filled yet. I may regret going flat as my thesis for today is test of 4100.

Overnight ATR is already 45 and hence I was conservative in my profit. Since the volume is high, we may get another 60+ pts day. Let's see.

man, ive been trying to find profitability for a while. seeing your results are amazing. if youd ever be willing, id love to hear about how i can trade like yourself

nateandrews01 

man, ive been trying to find profitability for a while. seeing your results are amazing. if youd ever be willing, id love to hear about how i can trade like yourself

Thanks. I'm having a lucky streak of winners

My entire methodology is described in my journal. Obviously it's going to take some time to go through it if you are interested. You may want to ready my recent summary just a couple of days ago.

I'm still in warm-up mode and literally trading just 1 or 2 MES but aim to catch 75% of daily ATR. i.e 30 out of 40 ES points (assuming 1% daily range)

I have only 1 suggestion to any wannabe traders.

"Zoom up your time scale and Scale down your size".

Good luck.

HumbleTrader 

Obviously it's going to take some time to go through it if you are interested. You may want to ready my recent summary just a couple of days ago.

I read this a day or two back, thanks for the recap. One thing I didn't notice was what timeframe you use?

WW

westernwind 

One thing I didn't notice was what timeframe you use?

My SPY ETF trade is usually held for most of intraday. Approx 6 hours.

My MES timeframe is based on my profit target. I aim to catch the bulk of daily ATR and that often means staying in the trade for 60 to 90 minutes. In terms of charting, I use the whole range of daily, 30 mins, 5 mins and even 1 min charts. They are only to help me 'feel' the market and NOT to enter/exit. EMA crossover (5/13) in 5 minutes chart may be considered as my trade execution chart (though I'm not a 5 minute time-framer)

Recap.

My 1st trade was near perfect execution of my short bias from RTH open 4141 to 4123 for 18 points.

My next short attempt backfired mainly due to my order mishap. I shorted the bounce @ 4135. The expectation was a test of Y-L with profit target of 4105. That turned out to be too ambitious and that's ok. When we made a new swing high @ 44, I should have been out @ break-even during the next pullback. (I am a big fan of stop limit orders). However, my error in input meant the trade was held till the end of the day and hence 8 points loss.

Overall + 10 points. Not complaining

Short bias today.

Thesis was gap closure but likely Inside Day of ATR 25-30 pts.

Short 4155 and then added 4152.

Covered 1/2 @ 4143 i.e Y-Close - Perfect

Full planned exit @ 4131. Also planning to add more if we bounce upto 4150 (unlikely scenario)

Didn't have the discipline to hold till 4131 and got out @ 35.

Pre-mature exit most likely due to psychology i.e decided to maintain the good streak intact. Since this is my first week after a lengthy break with jet lag still lingering, perhaps I can be gentle with myself.

+20 + 11 = 31 points today.

Surprisingly, every day of this week was positive and everyday I was short. Yet ES barely moved since Monday. hmmm..