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Yeah I do get eaten by the fees. Luckily my broker offers me the lowest commissions I have ever seen even for a low volume trader like me. I reviewed my trades and fees in February and they were very high, especially the exchange fees. Still don't know about March I haven't looked at that month yet.
I am pretty much always in a trade if I am in front of the computer which leads to the high fees and high turnover of trades. My method, I basically exclusively read the limit order book for any advantage I can find where I can fit my orders in the market. Sometimes I hold my losses way too long and my size is too big with an example being April 2nd when I held an ES contract for a 15 handles loss. Things like that happen.
Can you help answer these questions from other members on NexusFi?
Trade 1 MCL
9:03am short 85.08
9:10am exit 85.25
Result -$17.00
Trade 2 MCL
9:12am short 85.27
9:42am exit 84.76
Result +$51.00
The two trades above with the MCL was looking at the momentum on the short side. First trade didn't wait for a deep enough pullback and paid for it with a 17 tick loss. The second trade got in right after I closed the first trade thinking oil made a short term top and I ended up being pretty close, I think the top for that move was 85.35 about and made a nice 51 ticks.
Trade 3 MES
9:31am long 5206.75
9:47am exit 5206.75
Result $0.00
For the MES trade above, pre market was grinding higher for several hours and I attempted to find a nice pull back to join the action to the upside. I think I took about 4 points of heat before the market started moving my way. Market rallied I set my break even stop so I couldn't lose and was stopped out.
After that trade had to go to work and missed out on the big sell off.
Trade 1 MCL
7:43am short 85.05
8:26am exit 85.06
Result -$1.00
Trade 2 MCL
8:29am short 84.98
8:35am exit 85.10
Result -$12.00
Trade 3 MCL
8:42am short 85.10
8:53am exit 84.89
Result +$21.00
Trade 4 MCL
9:00am short 85.03
9:06am exit 85.03
Result $0.00
The general theme for the first four oil trades was to try and play the short side on downward momentum.
Trade 5 MCL
9:10am long 85.10
9:24am exit 85.30
Result +$20.00
Finally decided to go long oil and found a little 20 tick scalp
Trade 6 MES
9:30am short 5107.50
9:32am exit 5107.50
Result $0.00
First scalp attempt at the MES scratched with a breakeven
Trade 7 MCL
9:36am long 85.29
9:44am exit 85.42
Result +$13.00
One more attempt long at oil and came away with 13 ticks
Trade 8 MES
9:38am short 5098.75
9:43am exit 5093
Result +$28.75
Trade 9 MES
9:55am short 5098.50
10:27am exit 5094.50
Result +$20.00
Trade 10 MES
10:49am short 5093.50
10:50am exit 5090
Result +$17.50
The last three trades were all MES. Lots of selling momentum from yesterday and this morning decided to jump in short several times and came away with some ticks.
Trade 1 MCL
6:19am short 84.53
6:27am exit 84.63
Result -$10.00
Trade 2 MCL
6:29am short 84.69
6:51am exit 84.69
Result $0.00
Trade 3 MES
6:55am long 5112
7:02am exit 5112
Result $0.00
Trade 4 MCL
7:04am short 84.85
7:16am exit 84.92
Result -$7.00
Trade 5 MES
7:18am long 5110.75
7:20am exit 5107.25
Result -$17.50
Trade 6 MES
7:21am long 5107
7:33am exit 5111.25
Result +21.25
Trade 7 MES
7:36am short 5109.75
7:41am exit 5109.75
Result $0.00
Trade 8 MCL
7:43am short 84.79
7:48am exit 84.98
Result -$19.00
Took a bunch of other trades. Got kind of chopped up before 10am. Came back after 10 and probably should not trade pre market as I have never done well there.
Came back from being down big this morning and currently sitting at +$25.14 for the day.
Getting a read on the market today was difficult. Its always pretty tough in a downward consolidation pattern. There was lots of chop with the initial sell off to 5050s this morning early then the rally to highs at 5090s and again with a sell off to lows only an hour later around 1pm. Really no consistent pattern to grab a hold of and I ended up holding onto losses a lot longer than I should have. First with the push to lows right after open I entered short an MES contract and held from the 5070s all the way as the market pushed highs into the 5090s. I was bailed out with the multiday downward momentum I believe and actually closed the trade with a healthy profit as the MES pushed lows into the 1pm hour.
Oil should have been an easy short but as usual crude was up to playing games. I tried shorting looking to catch downward momentum and got stopped out several times on a rip my face off rally off the lows.
Loss for today -$48. Not bad considering I got bailed out of the short MES trade during the mid day sell off.
Pretty wild price action last night with the Middle East stuff going on. Was short around 9pm last night and took profits way too early before the Mid East stuff even happened. The rally ensued after the Middle East stuff happened and the ES hit highs around mid morning. Was able to catch a few ticks on the way up and on the way down as the sell off took place around mid day. Down momentum will probably be in place for the next couple of days.
Oil was a complete mystery to me. I understand the price spike with the Mid East conflict last night but price drifted all the way back down to 81s this morning. Took a couple of stabs in either direction but no luck with basically a break even day in oil for me.
Well today I kind of suspected the price action was going to be different than it had been. Lots of whipping around and going no where. Slowly starting to realize I should not be trading pre market because I do not have a good track record there. I dug myself into another hole before 9:30 and had to climb out of it slowly with whatever i could find in the chop. Finished up for the day, +$12. It was better than losing money I suppose.
Traded from 9:30 until about 1pm when I left for work. Looking for continuation of our current sell off and went short one MES contract in the low 5080s. It was a grind higher for most of the morning so I gave up quite a few ticks being short. Loss for the day, -$168.
Had a really good read on the market this morning. The downward momentum from the last 5-8 days made this morning a great pullback in the downdraft to get short. Shorted one contract of MES at about 10am and price 5113. From there it was all profit. I added one on the sell off at 5101.75 at about 11:30. Covered my short at 5091 and up for the day +$163.
Yesterday we sold off pretty hard from 8:30 to open. Thought it was going to be another big down day. ES hit 5020s and rallied. I got short in the 40s and as you can guess I lost some money as it turned into a big up day. Down -$108
