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Quick Summary: Down $154.72. Really a nothing day for me. I am trying to keep my losing days to about -$175. Also want to hold winning trades longer. This is going to be key going forward, if I am ever to pass the combine.
Trade 1: Short 48.19 at about 8:42. Decent trade breaking through resistance. Just no follow through. Finally stopped for +1 tick. No complaints really....just price just wont go down.
Trade 2: More of an impulse trade so not happy with it. Short 48.13 at 9:02. I was faked out a bit and thought the market had popped and taken out the stops and then was going back down. I was wrong and it cost me -8 ticks. I really see no reason to have taken this trade. Not happy with it all.
Overall happier with my performance lately. I am not putting up good numbers, but I have really cut down on the overtrading and (for the most part) the impulse trades. Will keep working on my process day by day.
Quick Summary: up $46.32. Really a nothing day. One accidental trade that I made 5 ticks on. Just didn't really have an entry on the rally after the Oil Report. Tomorrow is another day.
Quick Summary: Made $1,346.88. Had a really nice day. I am very thankful, I think this is my best day this year.
Premarket Analysis: Nice uptrend but market momentum slowing. I am looking for longs on a pullback.
I use an excel spreadsheet for journaling...sometimes interesting to see what I am thinking at different times in the trade. Decided to post that just for fun tonight.
7:46:41 AM Good volume already 165K
8:03:21 AM About 180K volume very good
8:03:39 AM Market did not pb to CWAP
8:04:12 AM Looking to close under the Green line
8:06:14 AM Market is at CWAP
8:13:26 AM Market in range, may be no opportunity for a while.
8:23:08 AM Trying to short at 49.88
8:23:37 AM Cancel. Breaking rules
8:27:31 AM Not really a sweet pitch as yet.
8:28:43 AM Only 16 ticks for range first half hour
8:34:17 AM Small BO
This little BO fails, and so I am considering the UT to be broken, at least for the moment
8:36:35 AM Break of Green line on MM Short at 49.86
8:50:26 AM Stopped lost 5 ticks
9:00:52 AM Short at 49.79. Stop is 49.88 Break below Green line.
9:04:03 AM Not a buyer at the Red or Black line at this point
9:04:19 AM I believe we may have a top in place.
9:06:10 AM Sellers coming in
I wanted to flip immediately and go long after I was stopped out, but I get burned doing that SO often!! It is actually against my rules, unless I am planning for it beforehand. After a few minutes though, I believe we are going higher so I get long at 49.90.
9:12:34 AM Long at 49.90
9:12:44 AM Break above Green line. All TFs long.
At this time, I am convinced that market wants to move higher. I use my max size for now, of 3 contracts. As you can see, I am sweating it for quite a while LOL
9:13:44 AM So much Vol on the sell side in the order book. Scary
9:14:57 AM Market did not come all the way back to Red line.
9:15:15 AM Trend is up. Came almost to 50% retrace.
9:15:36 AM But just no traction!!!
9:16:46 AM ES is rallying also. Need to get some follow through!!!!
9:24:07 AM Just having a hard time getting above my entry!!!!!
9:26:28 AM Creeping higher. May be institutional buying.
9:34:37 AM Going to make something on it. It is doing the dance around 50.00.
9:37:24 AM Stop following Green line. 49.94
9:48:50 AM Lot of size on the ask. Market trying to creep higher.
9:50:15 AM Huge order to buy at 50.00 258 contracts!!!
9:52:23 AM Huge volume trading here. 1300 Contracts
9:54:27 AM Interesting. The size on the ask has really diminished.
9:56:42 AM Stop to 50.01. We need to take out this high.
9:57:05 AM Made need the EC to get it done.
9:57:48 AM Size is back on the ask
10:03:29 AM Hiding behind large orders. Stop to 50.03
10:09:04 AM Stop to 50.06.
10:19:39 AM Huge pop. Trying to stay in for target. Stop to 50.30
10:24:19 AM EC in 6 min. C'mon!!!
10:25:48 AM Trailing aggressively
10:27:59 AM Stopped for 52 ticks. This is the best trade I have ever taken. I think.
Very nice to see this trade work out. Hat tip to Ian (Aquarian1) for some trade ideas. Thank buddy
No trades today. Just didn't want to go into the weekend feeling horrible about taking a dumb trade!!
For the week, I was up $1526.40. This is my best weekly performance this year. Just want to continue to focus on fat pitch trades and following my process. Nice to be Green on the combine.
Quick Summary" Down $154.72. Kind of a sluggish day. Also I had a couple of losers, and then missed the best trade of the day.
Premarket: Market is very slow and volume is low. Don't really see any trend or bias.
Trade 1: Short the BO at 50.43. Just not much follow through. Ended up losing 2 ticks. Maybe should have just scratched it...Hard to know. The trend was definitely down, and the trade was according to plan.
Trade 2: Short the pullback to 50.51. Market blows through me...stopped for -5 ticks. I just gave up at this time. Was one more good trade but I had stopped for the day.
Was just concerned about giving back a bunch of profit on a seemingly slow day.
Quick Summary: Down $594.16. Just a real tough day.
Premarket: Took trade very early at 7:40ish. Long at 50.46. Just not a good trade. I hadn't done my analysis, just sort of dove in. Also, I have not been trading the premarket using this particular setup. Anyway I lose 8 ticks on the 3 lot.
Then at 8:01, I short again at 50.44. Thankfully on 2 lot. Very poor impulse trade. I lose 7 ticks. At this point, I am down about $650. Real tough morning.
Finally at 9:57 I take BO trade long at 50.72. The market wiggles and jiggles, and I finally get out with 1 tick. Not a great trade. Major overhead resistance at 50.82. So r:r is horrible. Glad to get out of this day.
Quick Summary: Down $474.16. Yuck. Horrible range day. I just do not trade these well! Somehow, I have to figure out how to keep from dinging myself so bad on a day with so little opportunity. I also over traded. I had been doing a much better job of limiting the trades. This will be a focus tomorrow.....process, process, process!
Premarket Analysis: Well, there was no premarket analysis....got up late. Computer would not start. Things kind of went down hill from there. LOL
Trade 1: Was a momentum short after breaking through the MAs. Just no traction...lost 4 ticks on the two lot. I really don't see much wrong with this trade. The market was just not going down. (or going anywhere!!)
Trade 2: This was a horrible late long trade. I along with a lot of my very best friends (HA) thought the market was breaking to new highs. Nice buy 1 tick off the high, and -6 ticks on the 1 lot.
Trade 3: I finally get a decent OF and momentum short at 52.86 with 1 lot. This looks like a true reversal and I add another contract at 52.71. This is a poor decision with shakes me out of the trade with only small profit. I was trying to be somewhat cautious and trade 1 lot, but this was basically the best trade of the day. <shrug> I think I clear $90 on this trade which leaves me down about $50 for the day. Would have been a good time to quit!
