Damn just 1 tick SL? I set mine to ~2 pts, sometimes a tad bit more... and I thought I was being too strict.

mantaskon 

Damn just 1 tick SL? I set mine to ~2 pts, sometimes a tad bit more... and I thought I was being too strict.

Yup just 1 tick. I knew somebody would be a bit shocked lol

The SP500 looked a bit overextended to the up side going into the afternoon so I took a short on the MES, 1 contract.

Short @3:16pm EDT
Entry 4385.25
Exit 4384.75
Result +$2.50
I exited before the end of day move at 3:50pm. Did not want to be part of the possible move.

Faded a morning rally in the MES with one contract.

Short @10:48am EDT
Entry 4410.25
Exit 4409.25 @2:28pm (almost a 4 hour trade)
Result +$5.00

Took some heat on this one and got out for basically break even so I am happy with that.

Went in long on the short term weakness, 1 contract in the MES

Long @2:34pm EDT
Entry 4403
Exit 4405.25
Result +$11.25
Got out quickly on the little pop

I changed my strategy a bit. Now I am setting a profit target and holding a loss until the pain gets too great at which point I will exit. My strategy for losses are the same. For winners before I was moving my stop up to break even when the price went in my direction resulting in a lot of break even trades.

8 trades
1 contract each

MES
Short @10:59am EDT
Entry 4428.50
Exit 4427.25
Result +$6.25
Just a quick scalp short on the morning strength

MES
Short @11:20am EDT
Entry 4436.25
Exit 4434.25
Result +$10.00

MCL
Long @11:39am EDT
Entry 68.86
Exit 68.96
Result +$10.00

MES
Long @12:04pm EDT
Entry 4426.50
Exit 4428.50
Result +$10.00

MES
Short @12:19pm EDT
Entry 4432.50
Exit 4430.50
Result +$10.00

MES
Long @1:12pm EDT
Entry 4421.25
Exit 4423.50
Result +$11.25

Post FOMC:

MES
Long @2:05pm EDT
Entry 4397.50
Exit 4399.50
Result +$10.00

MCL
Long @2:32pm EDT
Entry 68.09
Exit 68.20
Result +$11.00

6 trades
1 contract each

MCL
Short @9:46am EDT
Entry 69.56
Exit 69.44
Result +$12.00

MES
Short @9:48am EDT
Entry 4427.25
Exit 4425.25
Result +$10.00

MES
Short 9:51am EDT
Entry 4430.50
Exit 4483.00
Result -262.50

MCL
Short @9:58am EDT
Entry 69.67
Exit 69.54
Result +$13.00

MCL
Short @10:34am EDT
Entry 69.78
Exit 69.67
Result +$11.00

MCL
Short @10:59am EDT
Entry 70.00
Exit 70.87
Result -$87.00

Daily Result -$303.50

So I think I am going to continue with the strategy I was using the past couple of days. This strategy has high win percentage with many small winners and the occasional large loss. I like taking quick profits of $5-$15 but will work on cutting my large losses down to $50-$60 per trade. I have been trading the MES and micro crude but I think I am going to transition once again to the ES. I am going to paper trade the ES for some time and try to build a track record with my strategy before I launch into real money. Strategy for the ES will be 1 tick profit target and 4 ticks stop. I will be using the DOM to determine short term tops and bottoms to buy lows and sell highs. I won't be posting my paper trades and I will definitely miss posting while I paper trade for the next couple of months. Thanks for reading.

-Blackgrey45

So I am continuing to paper trade the ES. I am currently paper trading with two seperate strategies. One strategy has high win rate of about 80%, with small winners and 20% of the trades are large losses. The winners are 2-5 ticks in size with losses running about 30-50 ticks. The second strategy has a low win rate of about 10% with 90% small losses. Strategy number 2 is essentially a flipped version of strategy number 1. I will continue with both strategies for now but I am liking strategy number 2 more. The large losses of strategy 1 are hard to stomach when they rarely do happen although it is nice to win 80-90% of the trades. Strategy 2 is a grind with 80-90% losses but the large winning trades make up for the pain and make me lean towards this one. Still not ready to commit real money to either.
I also am watching crude but am not paper trading it. I find the price action to be bearish with price dipping into the mid-67s today. I think 65 is a chip shot and could be taken out in the next week.

The paper trading continues. I am paper trading the ES but will probably venture back into live trading with the MES and micro crude. Holding losses in the ES is turning out to be costly. A 10 handle loss is hard to stomach at $500 a pop. When I do get back into live trading I will be taking profits quick and holding losses until the pain is too great. I realize that my risk to reward ratio is not favorable with this approach but that is how I trade. I hope everyone made some money today!

-Blackgrey45

The paper trading continues. I have now settle into a strategy in the ES. The strategy involves a 4 ticks stop loss and a 2 tick profit target using the order book to determine short term tops and bottoms. I plan to use this strategy in the ES when I start trading live. I have a number in my head for how much I want to save up to trade again and I'm not there yet. I make money 4 or 5 days a week on paper but live trading will be a whole other story and I know that.