Home > Uncategorized > 4/20 Trading Recap

4/20 Trading Recap

Trade #1 – Short TF 714.1.  Cover 714.  This was just a reactionary trade.  I looked down and saw a long green bar that I thought was 9:25-9:30 however it was from the first 10 seconds of the 9:30 bar.  I happened to be a couple of ticks ahead so I put stop +1 tick.

Trade #2 – Short ES 1197.75, cover 1200.25.  This was just a bad trade.  Probably chalk it up to impatience and wanting to get in the market.  The ES 1.25R chart gave a percent r short signal, but I have no stats on the success of this trade.  If anything, from just watching I would say it doesn’t work most of the time.

Trade #3 – Buy ES 1199.50, sell 1201.  I bought here based on a large volume spike on the 1.25R chart.  The bar was red so it was a contrarian trade.  I took it off based on a +1000 tick reading.  This was a mistake as the market only pulled back to 1199.75 but continued to rally the rest of the day.

Trade #4 – Short ES 1201, cover 1203.25.  Shorted based on a +1000 tick reading.  Big mistake.  As stated before, the market rallied all day.  Also, this was just a bad trade because I only took based on the bad performance of my earlier impulse trades.  This is where there is a serious snow ball syndrome.  One bad trade often leads to another bad trade.  I haven’t taken a +1000 tick fade in months but just wanted action.

Trade #5 – Buy 1202.75, sell 1202.50.  Bought based on a percent r signal.  This was the only legit trade signal all day and I still figured out a way to mess it up.  Went to gas station to grab a soda, came back and thought I had the criteria to move stop to break even.  That was wrong.  For some reason on this trade I was flat out scared though.  The market had put a pretty strong rally from the bottoms with no real pull back.  It hit a high of 1105 (which I had 1106 as R) and moved down.  In all honesty, I really thought the pullback was going to be bigger.  One thing going for this trade though was the fact that the buy was given at the IB high which is usually good support.

Trade #6 – Buy 1101.50, sell 1103.50.  I want to hold this until 1107 as there was a VAL there and an open gap there however I had to respect the potential of a Double Top so after hitting 1104.50 (1105 prior high) and retracing I had to pull the plug.  Well, the market continued to chop for a little longer but really did not pull back much farther than my 1103.50 where I coughed up my cts.  The market pretty much reversed there and went up to 1105.50 which left me giving up a potential $200 profit.

Trade #7 – Buy 1103, sell 1103.  Because nothing had happened with the original percent r trade (no stop, no target, no BE) I decided to give the trade another shot (third times a charm right?).  Well, I became fearful of longs taking profits into the close so I got out.  See prior trade for how the day finished out.

What I really hope to take from today is when I don’t trade my signal, I am not succeeding.  For the most part I do have face the facts and see that I’m not adding a whole lot of value to the system right now.  Also, the biggest thing killing me right now are the impulse trades.

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