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Plan for tomorrow in my live account is to take profits early and to just exit a loss before it get too large. I drifted from my strategy last week and let losses grow too large. Its best to exit loss and move onto the next trade. Hopefully I take my own advice.
I'm going to make my profits as small as I can and give the markets time to realize a profit on my trade. But there is a point when I have to exit a loss. This is the challenge.
I trade predominantly counter trend, buy weakness sell strength. I'm just going to wait for the good opportunity to catch a few ticks and get out if I'm wrong.
Market MES. 1 contract each trade.
8:45am short 5985.00 | exit 5970.00 | result +15.00 pts
9:58am long 5951.75 | exit 5952.25 | result +0.50 pts
10:00am long 5938.00 | exit 5938.50 | result +0.50 pts
10:03am long 5941.75 | exit 5951.75 | result +10.00 pts
10:11am short 5949.00 | exit 5938.75 | result +10.25 pts
10:20am long 5947.50 | exit 5948.00 | result +0.50 pts
11:01am long 5954.00 | exit 5954.50 | result +0.50 pts
11:12am short 5949.25 | exit 5949.00 | result +0.25 pts
11:33am short 5948.50 | exit 5936.25 | result +12.25 pts
11:55am short 5955.00 | exit 5954.50 | result +0.50 pts
12:06pm long 5956.00 | exit 5956.50 | result +0.50 pts
12:10pm long 5956.25 | exit 5956.75 | result +0.50 pts
12:15pm long 5956.00 | exit 5964.00 | result +8.00 pts
12:23pm long 5960.25 | exit 5933.25 | result -27.00 pts
1:05pm short 5931.25 | exit 5899.00 | result +32.25 pts
1:35pm long 5902.00 | exit 5910.25 | result +8.25 pts
1:53pm short 5913.00 | exit 5912.75 | result +0.25 pts
2:01pm long 5919.25 | exit 5919.75 | result +0.50 pts
2:06pm short 5820.00 | exit 5913.50 | result +6.50 pts
2:34pm short 5921.00 | exit 5918.00 | result +3.00 pts
3:05pm long 5867.25 | exit 5845.00 | result -22.25 pts
3:22pm short 5845.00 | exit 5844.50 | result +0.50 pts
3:31pm long 5842.75 | exit 5860.00 | result +17.25 pts
+78.50pts
Fees ($23.92)
Profit for the day: +$368.58
I trade a lot better today than last Thursday and Friday. I exited my bigger losses early before things got out of hand. I also got pretty lucky on direction for much of the day. I did try to catch the falling knife a few times and that hurt me on one trade.
Market MES. 1 contract each trade.
9:28am long 5819.50 | exit 5819.75 | result +0.25 pts
9:47am long 5809.00 | exit 5809.50 | result +0.50 pts
9:48am long 5811.50 | exit 5812.00 | result +0.50 pts
1:17pm short 5807.00 | exit 5806.75 | result +0.25 pts
1:37pm short 5803.25 | exit 5822 | result -18.75 pts
1:55pm long 5821.25 | exit 5826.25 | result +5.00 pts
3:09pm short 5851.50 | exit 5830.00 | result +21.50
3:46pm long 5820.00 | exit 5822.25 | result +2.25
Profit in points +11.50 pts
Fees ($8.32)
Profit in dollars for the day +$49.18
No comments really. Pretty exhausting trading today but still very fun. Happy to be green again.
Here are the trading results from today in my live futures account:
MES is the market. 1 contract per trade.
8:17am short 5802.00 | exit 5796.00 | result +6.00 points
8:31am short 5795.00 | exit 5794.75 | result -0.25 pts
8:52am short 5794.25 | exit 5784.00 | result +10.25 pts
9:14am short 5790.00 | exit 5789.75 | result +0.25 pts
11:14am short 5768.25 | exit 5767.75 | result +0.50 pts
11:33am short 5759.00 | exit 5758.50 | result +0.50 pts
11:57am short 5764.00 | exit 5803.00 | result -39.00 pts
12:25pm long 5803.50 | exit 5804.00 | result +0.50 pts
1:32pm short 5804.75 | exit 5829.25 | result -24.50 pts
1:55pm long 5828.50 | exit 5861.50 | result +33.00 pts
3:16pm short 5858.75 | exit 5858.50 | result +0.25 pts
3:29pm long 5962.75 | exit 5835.25 | result -27.50 pts
3:51pm short 5836.00 | exit 5851.00 | result -15.00 pts
Total points -55.00
Fees ($13.52)
Loss for the day -$288.52
Comments: I did well in getting out of the losses especially when the news about the tariffs came out. It was an okay day. I was wrong the direction most of the day and switched my bias a lot. I also did many impulse trades. But I exited my losses and that was important. The entries really hurt me. There was a point in the afternoon when I was close to being green on the day and I entered a trade just to try to get green without thinking about the entry. That was the trade at 3:29pm.
Here are the trading results for my live account for today.
Market MES. 1 contract per trade.
8:31am long 5776.25 | exit 5776.75 | result +0.50 pts
8:33am long 57777.00 | exit 5740.50 | result -36.50 pts
8:57am short 5741.00 | exit 5740.50 | result +0.50 pts
9:34am long 5741.00 | exit 5741.50 | result +0.50 pts
10:16am short 5744.75 | exit 5704.50 | result +40.25 pts
11:36am short 5690.75 | exit 5690.25 | result +0.50 pts
11:51am long 5681.00 | exit 5701.50 | result +20.50pts
12:44pm short 5728.00 | exit 5727.50 | result +0.50 pts
1:03pm short 5733.25 | exit 5775.00 | result -41.75 pts
Total points -15.00
Fees (9.36)
Loss for the day -$84.36
I trade well today with the exception of the last trade of the day. I went short when the market rallied hard off the lows in the middle of the daily range. I needed a tighter stop on that trade and let it ride the rest of the afternoon.
27 Trades today in the MES market. Some trades were multiple contracts with up to four contracts traded on 2 of the trades. Today was a pretty straight forward day where I just sold every rally and made money basically. I won't take time to write down each trade I made in this journal today as there were just so many. Profit for the day was +$153.39.
Today I was not satisfied with the progress I have been making in my live account. I decided to up the trading size to three contracts, MES. I was trading well until around 1pm when I went short at the low. I started with one contract. The market rallied against me and I layered into two additional contracts as the market rallied against me. Well this was a major turning point in the market for the day and it rallied hard against my position. I exited the position and suffered a big loss. Loss for the day was -$516.44.
By my accounting, you trading real money 9 days, with overall profit of $468.32. That's actually better than I thought someone without any tested edge would do.
What profit after 9 days would you have been satisfied with?
I know, I should have been very content with a +$400 profit after almost two weeks of trading. I wanted to be up +$1k and that was a figure I had in my head. I gave all my hard work back today. I will just have to try again tomorrow and be happy with any profit really.