There is my ES trade of the day.





It was a retest of High volume bar, with decent volume on the 2nd test.





But I don't like ES this late looking like this. 1 point and done.

My wife and I have been talking a lot about just being happy in life. My side of that has been mostly about trading. Her side has been about a kitten.

We used to have 4 cats and 2 dogs, but now have no home, all have died except for Piper, and I thought it was easier for us to travel with only one pet to deal with. She actually had said that many times herself, how she really did not want another cat.

And I had once said I was done trading...

So the other night out to dinner, I said, "OK, here's the deal. If we take the kitten, I get to name it whatever I want."

I figured that was a deal killer for her, she had a name already picked out. Meanwhile, her list for my trading is a piece of cake.



Fast forward to today, say hello to Short Squeeze






He and Piper took to each other immediately, guess it was meant to be.

GaryD 

It is always amazing to me how many trades I take with targets that are originally set where they would get hit, but then I close them early. The past two days I bought the LOD and sold the HOD, and then took leass than 25% of what would have been there for me.

That does not seem to change my ability to maintain profitability, but at one point that same fact was enough to push me over the edge. I nearly despised my trading, because I would take $300 out of $1000. Looking at today's charts, or yesterday's, or last week's, or last year's, that is what I do.

I like tose entries for a reason. markets turn at key locations, and for some reason I can read those fairly well. What I can't do as well is tell how long to hold them. So to compensate, I just wait for the next major point of POSSIBLE turn, where the volume hits it's max, where the make or break really goes down, and then trade in a way that I don't care what the outcome is.

I think I try to minimize uncertainty.

Trading to make money inspires impatience to the degree that you have experienced money.


That is how I summarized a long silly conversation about why I want to trade. And I went into why I felt impatient. Here was my story;


"... yes, I can make $1k a day average, and no even if I explained why you might not understand, because trading has to come to you through experience. It cannot completely be described. You could have the best trader in the world try to say something that would make a difference to you trading, and still think he was a "scam". That is not the issue.

Imagine, from where our finacial world was just a few years ago, if I had to start from zero and count; 100, day 1, 101, day 2 102, day 3 103, day 4 103, day 5 103, day 6 102, day 7 103...."



Psychology.

Thursday

ES has loacl DTd at key support in the premarket session. CL has opened below Y value but in range, and open drive up to inside Y value. I am looking to short crude, following local DT yeatsrday, I am in 1 at 95.72, ETH hi is 95.86, sitting with a wide stop and watching that area ahead of ES open. The ES DB is troubling to me...





I have had a couple chances to averege down, but ES is a wild card still. I need some work on my swing trading anyway, and being in 1 contract gets my attention level in the zone compared to being flat. Heightens senses somehow.

Closed at ETH Vwap, going to see what ES does


We got down to test yesterday's excess




This market is balancing on a daily basis, but also on a monthly basis, and so direction is a tough call today. So far.

Missed / passed on the trade the 2nd time. Just not a clear enough signal. There was the location, but not anything else...


There is a lack of clear participation so far

Today will be a test of patience, or, I may walk. Tight range two-sided trade. Tough to have any advantage. There was a stop run, back into RTH value, I sold the IB, got stopped out at RTH 2SD, gave back the morning's trade at 3 x 1, net -19.




Decent trade, stop should have been above prior high

Friday, June 14, 2013


My problem yesterday was I held a view of the market in my head, even after I saw something that should have changed that view.

It started with noticing a local double top in CL. It caused me to have a bias, or a plan for the day even. That is not the bad part.

GaryD 

What was bad, is I allowed my bias to overpower what the market was telling me.

GaryD 

Thursday ES has locall DTd (typo, I meant double bottomed) at key support in the premarket session. CL has opened below Y value but in range, and open drive up to inside Y value. I am looking to short crude, following local DT yeatsrday, .... The ES DB is troubling to me......I have had a couple chances to averege down, but ES is a wild card still.

Which lead to my not reading the day correctly, and shorting instead of buying, causing me to quit early due to feeling like I was not "getting it".

GaryD 

Today will be a test of patience, or, I may walk. Tight range two-sided trade. Tough to have any advantage. There was a stop run, back into RTH value, I sold the IB, got stopped out at RTH 2SD, gave back the morning's trade at 3 x 1, net -19.

I saw price as struggling against resistance instead of pushing through it. The clues were there, I called ES "troubling" because it did not fit my view of the day. But it was trying to help me, and I ignored it.