Archive for May, 2010

5/27 Trading Recap

Today I definitely still had some sloppy trades.  I keep saying this, but if I had really tightened up today maybe I actually walk away +$300-$400 net.  There were a couple stupid trades I definitely felt like I could have avoided.  With volatility dropping, there is less room to make these errors.

Trade #1 – Short 1087.25, Buy 1088.25.  The ES got confirmed yesterday on the 15 min gap chart right into the close.  I got short on the open today at 1087.25.  With my normal stop it would have been at 1090.25.  I however coughed the cts up at 1088.50 for -1.25 pts.  The trade would have worked out to be break-even.  Results: -$125.

Trade #2 – Buy 1084.75, Sell 1087.  Got a percent r play.  I closed the position when the 15 min bar closed to give a short signal.  Result: = +$225.

Trade #3 – Sell 1086.25, Buy 1087.25.  So with the 15 min chart giving a percent r short I took the trade.  I got in 1 pt late because it looked like it could have gone either way.  The trade got within 1 tick of my target to get +3.75 pts of unrealized gain (4.75 from the mechanical entry).  The price action was so fast too it would have been tough to grab anything more than 3 pts with time to think about it.  Plus all signs were pointing to a potential continued down move.  Results: -$100.

Trade #4 – Buy 1091.50, Sell 1091.50.  Not a TF percent r trade but a percent r trade from the ES chart.  I also jumped the gun and got in 2 ticks early (didn’t wait for the close).  Ending up scratching before I got +2.5 but that would have been the same result.  I was nervous in the trade though.  Actually it was a good trade.  The TF was not moving and the ES was clearly the chart to take signals from today.  If you front run, only do 1 ct in the future.  Result:  Scratch.

Trade #5 – Buy 1093.25, sell 1090.25.  This was a trade was sketch at best.  So it was from the percent r signal from trade 4.  It started working so I hopped on to only see it go all the way back to the entry.  When it gets to this point in a trade, I really just need to be ok with with missing it.  Result: -$300.

Trade #6 – Sell 1093.50, Buy 1090.50.  Retest of the highs on a choppy day with a +1000 tick reading.  Result: +$300.

Trade #7 – Buy 1092, Sell 1093.  Result: +$100.

Trade #8 – Sell 1094.50, Buy 1098.50.  Result: -$400.

Trade #9 – Sell 1095.50, Buy 1095.50.  Result: Scratch.

Trade #10 – Buy 1096, Sell 1098.  Result: +$200.

Trade #11 – Buy 1097.50, Sell 1099.50.  Result: +$200.

  • PnL:  +$100
  • High Win:  +$300
  • Avg Win: +$205
  • High Loss: -$400
  • Avg Loss:  -$231.25
  • Avg of Last 10 Winning Days: +$753.09
  • Avg of Last 8 Losing Days: -$693.49
Categories: Uncategorized

05/26 Trading Recap

Trade #1 – Sell 1085.50, Buy 1088.50.  This was a play on me thinking that we were going to be a choppy day and would move to the bottom of the range.  Unfortunately I made the unwise decision of doing this in the middle of range.  If it’s a range day, only make plays at the extremes, never in the middle.  I get stopped out at the high tick (top of range).  Result: -$300.

Trade #2 – Buy 1079.50, Sell 1080.  Result: +$50.

Trade #3 –  Buy 1077, Sell 1076.75.  Result: -$25.

Trade #4 – Buy 1080.75, Sell 1083.25.  Result: +$250.

Trade #5 – Sell 1084.25, Sell 1082.25.  Result: -$100.

Trade #6 – Buy 1079, Sell 1077.  Result: -$200.

Trade #7 – Buy 1077.50, Sell 1075.50.  This was a percent r fade-trade.  Wednesday’s are the worst performance day by far.  Plus we bounced off sig. support and thought that might hold.  Result: -$100.

Trade #8 – Sell 1076.25, Buy 1072.50.  It’s clear the percent r signal seemed to want to work.  The signal was technically at 1077.50 so I definitely got in late here but was still able to ride it to a nice win.  The market went on to much farther downside.  One thing I would be careful to watch in the future is that I really thought this trade wasn’t going to work.  So much, I faded it.  When a trade like that does start to work, I’ve noticed that it has a really good shot of blindsiding people and going on to 10 pt + winners.  Result: +$375.

Trade #9 – Buy 1068.75, Sell 1067.75.  Result: -$50.

Trade #10 -Buy 653.90, Sell 653.50.  Result: -$40.

  • PnL:  -$140
  • High Win:  +$375
  • Avg Win: +$312.50
  • High Loss: -$300
  • Avg Loss:  -$131.67
  • Avg of Last 9 Winning Days: +$825.66
  • Avg of Last 8 Losing Days: -$693.49
Categories: Uncategorized

05/25 Trading Recap

Although double-edged sometimes, the volatility in the overall ES has provided me opportunity when I’m patient and trade my system as I should.  Today was a good day for me.  We opened down 25 ES pts and had the opportunity for a crash.  However, the market stood it’s ground and reversed at approx. 9:45-9:50 as it often does lately.  We then went on a mega rally as the gap just seemed to act as a magnet until we closed it at the end of the day.  Although we rallied, it was not just straight up action  until the last 30 minutes of trading and there were great opportunities to not only buy pullbacks but even to get in a couple of shorts.

Trade #1 – Buy 619.3, Sell 619.3.  Bought the TF here on an oversold reading with percent r.  TF had actually confirmed but all the other indexes had only setup.  The entire day was very volatile and I just scratched the trade.  Result:  Scratch.

Trade #2 – Buy 620.4, Sell 619.  I had a long bias from the open and this was just another shot.  I mad a bad move selling at 619 but it only cost me commissions and 1 tick.  Result: -$140.

Trade #3 – Buy 619.1, Sell 622.4.  Result: +$330.

Trade #4 – Sell 1052.75, Buy 1052.75.  Mechanical percent short signal from the 15 min chart.  Took the trade because I felt it was a legit signal and the 15 min has been very accurate lately but did not have a lot of faith so pulled the trade off early which was good thing.Result: Scratch.

Trade #5 – Sell 1051, Buy 1052.  This was a mechanical percent r short signal from the 5 min chart.  It had already been stopped (theoretically) but by only 1 pt.  With the added volatility I thought the trade was still in play.  I got to antsy because of the volatility and pulled it off early.  Result: -$100.

Trade #6 – Sell 1050.50, Buy 1046.50.  Tried the trade again.  See trade #5.  Result: +$400.

Trade #7 – Buy 1053, Sell 1052.  I got a mechanical long signal on the 5 min percent r chart.  The entry was 1052 but I got impatient and bought 1053, however the bar would have given the entry.  This frustrated me and I just got out.  Result: -$100.

Trade #8 – Buy 1052, Sell 1056.75.  Ok, second time’s a charm.  I tried to hold for 1058 because of how I messed up trade 7 but decided to just take it for the original target.  Could have gotten 1058.  Result: +$475.

Trade #9 – Buy 1060.75, Sell 1063.25.  Mechanical percent r long signal.  It moved so fast in my direction I got spooked and sold.  It was a good thing because if I had maintained the mechanical rules I would have gotten kicked out for break-even.  Result: +$250.

Trade #10 – Buy 1062, Sell 1065.75.  Another play on the percent r long sig from trade 9 trying to get the original target.  I could have held longer here as the mkt was strong at this point and the gap still had not been closed, but I just took it off for the target.  Result: +$375.

  • PnL:  +$1490
  • High Win:  +$475
  • Avg Win: +$366
  • High Loss: -$140
  • Avg Loss:  -$120
  • Avg of Last 9 Winning Days: +$825.66
  • Avg of Last 7 Losing Days: -$772.56
Categories: Uncategorized

5/24 Trading Recap

So today I did a much better job of sitting on my hands until the very end of the day.  I was +$925 until about 3:30 when I decided to cough up $550 in the last 30 minutes of trading. It started with a mechanical short signal I got at approx. 3:15.  I really didn’t have much faith in the signal so my first instinct was to skip the signal.  As time went by, the price action was giving no indication that it would be a winner as the trade started out in the red almost from the beginning.  I decided to get in when the trade was already 1.5 pts and I would only have to risk 1.5 pts.  Well, I got stopped out.  What’s ironic is I got stopped out by only 1 tick and the trade eventually would have been great (with the exception of the stop!).  But all I could see was that I just lost $150 on a trade I didn’t believe in.  I really have no problem with me taking the trade because often the trade works out best when I have the least faith but I have to not get emotional when I do get stopped.  Well, after losing on the trade what’s my next step.  I risk (lose) $400 on an impulse trade to try to get my $150 back (horrible risk:reward).  So in a couple of minutes I go from +$925 to +$375.  I have to really learn to keep my money once I get it.  This has been a serious problem for me.  I really am ok with the mechanical trade I took at the end of the day.  It’s unfortunate I got stopped but it was only 1 tick that kept me from finishing the day at +$1500.  The one other thing I did good was actually allow myself to still finish in the positive.  In the recent past, I would have gone down blazing and probably blew the entire winnings to try to get the money back.

Trade #1 – Buy 1080.50 (4), Sell 1082.50 (2), Sell 1180.50 (2).  I doubled my contracts on this trade because this is my highest probability trade.  I probably mismanaged it a little.  The entry technically would have been 1080 and the ES actually hit 1185 but I didn’t do anything.  What I did do was take half off at 1182.50 (the break-even mark for the trade) but maintained my 1185.50 target while watching it come all the way back and stop me out after having 4.5 pts of unrealized profits.  Result: +$150.

Trade #2 – Buy 1078.50 (2), Sell 1083.50 (1), Sell 1182.75 (1).  Thee open was 1180 and after looking at the daily charts I thought we were in a range that extended to 1189.  I bought 1178.50 on an oversold percent r reading.  I did take $275 of heat on the trade but had a good result.  I took half for +5pts and watched the other half get to +8.5 pts before taking it off for +4.25 pts.  Result:  +$462.50.

Trade #3 – Buy 1084 (1), Sell 1082.75 (1).  I got long here on a mechanical percent r signal but got scared and exited the trade.  Result: -$62.50.

Trade #4 – Buy 1083.50, Sell 1080.50.  After debating with myself, I decided to the give the mechanical signal from Trade #3 it’s full risk.  The market bottomed at 1180.25 after stopping me out at 1180.50.  Result: -$300.

Trade #5 – Buy 1082, Sell 1088.50.  After seeing my mechanical signal get stopped by 1 tick, I decided to give it one more shot.  I had resistance at 1189 and the mechanical signal’s target was 1188.50 so I just left that in place. Result: +$650.

Trade #6 – Buy 1082.75, Sell 1083.  Result: +$25.

Trade #7 – Short 1080.25, Buy 1081.75.  Result: -$150.

Trade #8 – Buy 1081.75, Sell 1077.75.  Result: -$400.

Trade #9 – Buy 1074.50, Sell 1074.75.  Result: +$25.

  • PnL:  +$400
  • High Win:  +$650
  • Avg Win: +$262.50
  • High Loss: -$400
  • Avg Loss:  -$228.13
  • Avg of Last 8 Winning Days: +$742.50
  • Avg of Last 7 Losing Days: -$772.56
Categories: Uncategorized

05/19 Trading Recap

Today was a day where I did about everything wrong.  I let my ego get in the way and I got way to tied to the idea that we weren’t going trend and that a bounce was imminent.  The only problem with that, is you can still be right and the market can still break you.  This is where timing is key.  But timing wasn’t my main problem today.  It was definitely ego/emotion.  If I just had bad timing today, but didn’t let ego get involved, I probably walk away -$700.  However, I end up more than doubling that because I did things like lose discipline and start taking trades I had no business being in.  I also ramped up my qty after being down decent money.  This is usually a recipe for disaster as it was for me today.  When I increase qty to dig myself out of a hole, I usually just end up in a bigger hole.

This day definitely doesn’t have to be a waste.  It will be a learning point for me.  I will realize what works for me (patience, taking the best 4-5 setups per day) or I will continue to bang my head on a wall at the end of each day and wonder why.

Trade #1 – Buy 1114.50 (1), Sell 1113.50 (1).  Result: -$50.

Trade #2 – Buy 1113.50, Sell 1118.50.  Result: +$500.

Trade #3 – Buy 1114.25, Sell 1110.75.  Result: -$350.

Trade #4 – Sell 1110.50, Buy 1110.75.  Result: -$25.

Trade #5 – Sell 1114, Buy 1112.25.  Result: +$175.

Trade #6 – Buy 1110.75, Sell 1107.75.  Result: -$300.

Trade #7 – Buy 1109.25, Sell 1110.50.  Result: +$125.

Trade #8 – Buy 1109.75, Sell 1106.75.  Result: -$300.

Trade #9 – Buy 677.8, Sell 675.8. Result: -$200.

Trade #10 – Buy 671.3, Sell 672.3. Result: +$100.

Trade #11 – Buy 670.2, Buy 670.9, Sell 669.4.  Result: -$230.

Trade #12 – Buy 669.6 (2), Sell 668.1.  Result: -$300.

Trade #13 – Buy 668.3 (2), Sell 668.2 (2).  Result: -$20

Trade #14 – Buy 668.5 (2), Sell 668.1 (2).  Result: -$80.

Trade #15 – Buy 668.5 (4), Sell 667.5 (4).  Result: -$400.

Trade #16 – Buy 668.6 (4), Sell 666.7 (4).  Result: -$720.

  • PnL:  -$2115
  • High Win:  +$500
  • Avg Win: +$225
  • High Loss: -$720
  • Avg Loss:  -$293
  • Avg of Last 7 Winning Days: +$791.43
  • Avg of Last 7 Losing Days: -$772.56
Categories: Uncategorized

5/18 Trading Recap

So today was definitely not my best day.  I think I had a relapse and thought I was living back in Salt Lake City because I looked up at the clock and saw 1:45 and truly believed we were 15 minutes away from the close.  I’m not sure if I should, but I do trade a little bit different at the close vs. midday or morning.  Thus I changed my strategy a little and it cost me.  After realizing what I had done, I kind of lost it and way over-traded.  Today I have 17 round trips.  I will almost always lose money on a day where I have 17 trades.  Just not my style of trading where I’m currently at in my career.  I need to continue to focus catching the best 4-5 opportunities each day provides.

Trade #1 – Buy 1144.25, Sell 1143.25.  ES was +2 pts into a pre-market percent r long signal.  The TF looked really strong.  I got long hoping for a full target (+5 pts).  I ended up taking the trade off for -1 pt.  The trade said to allow 2 pts.  The trade would have gone to -2 pts and then gone up for the full target.  Result: -$100.

Trade #2 – Short 1144, Buy 1147.25.  This was a mechanical short given by my 9:35 percent r fade system.  The entry was 1144 with a  stop at 1147. I actually had some slippage (1 tick) on the exit above.   The top was 1147.50 so I got stopped out by only 2 ticks.  The market was volatile and although I was leaning towards a down move I just couldn’t hop back in quickly.  Result: -$325.

Trade #3 – Sell 1145.50, Buy 1145.50.  First attempt to get short again but got antsy. Result: Scratch.

Trade #4 – Sell 1143.50, Buy 1141.50.  After getting stopped by only 2 ticks on my mechanical signal and then seeing it drop like a rock I hopped on for 2 pts of the move.  Result: +$200.

Trade #5 -Sell 699.6, Buy 700.7.  This was just a stupid trade that I should have avoided.  Result: -$110.

Trade #6 – Sell 1140.75, Buy 1136.50.  Percent R short signal from the ES chart with a very close signal from the TF chart.  All indexes were lined up on this play.  I did take this trade off 3 ticks early for no other reason than greed/fear.  Result:  +$425.

Trade #7 – Sell 1136.25, Buy 1139.  So this was the mechanical signal from the percent r chart.  This is really tough.  Do you take this signal which is definitely late, or just say you know what, the signal from the Trade #6 was the signal so skip it?  I took it but I think I have to lean to skipping it in the future.  Result:  -$275.

Trade #8 – Sell 1139, Cover 1131.25.  Using my own self-pain as a gauge, I see that my 1139 stop almost nailed the top.  Also, the fact we really couldn’t puncture 1140 gave me confidence to try this short one more time.  Got out where my original target would have been on trade #7.  Result:  +$775.

Trade #9 -Sell 1125 (1), Buy 1127 (1).  Result: -$100.

Trade #10 – Buy 1126.50 (1), Sell 1126.50 (1).  Result: Scratch.

Trade #11 – Sell 1118.75, Buy 1119.75.  Result:  -$100.

Trade #12 – Sell 1119, Buy 1119.  Result:  Scratch.

Trade #13 – Sell 1116, Buy 1118.  Result:  -$200.

Trade #14 – Buy 1122, Sell 1118.  Result: -$400.

Trade #15 – Buy 1118, Sell 1116.25.  Result: -$175

Trade #16 – Buy 1118.50, Sell 1121.75.  Result: +$325.

Trade #17 – Buy 1121, Sell 1119.  Result -$200.

  • PnL:  -$360
  • High Win:  +$775
  • Avg Win: +$431.25
  • High Loss: -$400
  • Avg Loss:  -$198.50
  • Avg of Last 7 Winning Days: +$791.43
  • Avg of Last 6 Losing Days: -$470.42
Categories: Uncategorized

5/17 Trading Recap

I’m pretty happy with my performance today.  I got sloppy a little bit in the middle of the day, but overall felt I traded my system in a pretty disciplined manner.  I talked to Matt a little mid-day and realized that I was still feeling like I should be accomplishing more in this type of volatility.  I then promptly proceeded to give up all the $400+ in profits I had accumulated thus far.  After lunch I got it back together and finished strong.  I started off the day being very patient and didn’t trade for the first 60+ minutes.  Tomorrow I plan to be as patient with my setups and hopefully continue to tighten it up even more.

Trade #1 – Buy 1127.25, Sell 1125.25.  This was a play on the fact that I thought we were going to be choppy today.  Percent R had crossed into oversold territory and then made a doji so I thought I had some confluence.  Good trade setup, just didn’t work. Result:  -$200.

Trade #2 – Buy 1125.50, Buy 1124, Sell 1126.75 (4).  Result: +$400.

Trade #3 – Sell 1125, Buy 1124.75.  This was my first trade attempt at the %r trade I missed.  See below for additional information.  +$25.

Trade #4 – Sell 1124.25, Buy 1122.25.  I definitely flubbed this trade up a bit.  First I got a mechanical percent r short signal on the 15 min to short at 1126.50.  I wasn’t sure about this trade because the day was indicating it may just be choppy.  After the trade got +2.5 I had a lot of confidence it would continue to drop.  Originally I was going to keep a 5 pt target (7.5 pts away from the mechanical entry) but became flustered once the ES reached the target for the mechanical entry.  I should have at least got +$250 but was so flustered I even left the final 2 ticks on the table.  Result: +$200.

Trade #5 – Sell 116.75, Buy 1118.25.  Thought this was a mechanical percent r setup but by the time the bar closed I realized it wasn’t.  Thought I still give it a shot as it appeared to be going my direction.  Probably should have been quicker to pull this off.  Result: -$150.

Trade #6 – Sell 1117.50, Buy 119.75.   This was a mechanical percent r short signal.  I struggled with this because the market was so choppy and I really tried to pass it up, but it just kept teasing me.  Result: -$225.

Trade #7 – Buy 1119.50, Sell 1118.75.  Result: -$75

Trade  #8 – Buy 1119.75, Sell 1124.  This was just based on the premise I thought the low was in.  Result: +$425.

Trade #9 –  Buy 1127.50, Sell 1128.50.  I jumped the gun on this trade a little and got in at 1127.50 even though the entry should have been 1127.25.  Because I was in the trade even though I shouldn’t have been, I decided to go ahead and take $100 off the table and then try to get a legitimate entry as the mkt was acting weak. Result: +$100.

Trade #10 – Buy 1126.25, Sell 1131.25.   This is a continuation of the above percent r trade.  The mechanical entry was 1127.25 so I was getting a full pt better here.  I had 2 options, I could have reduced my risk my by 1 pt or keep the same risk and have an extra pt of breathing room.  I took the latter and it was the right decision.  Had I kept the mechanical stop it would have been hit, but on this trade I came within 2 ticks and still hit my target.  Result: +$500.

  • PnL:  +$1,000
  • High Win:  +$500
  • Avg Win: +$325
  • High Loss: -$225
  • Avg Loss:  -$162.50
  • Avg of Last 7 Winning Days: +$791.43
  • Avg of Last 5 Losing Days: -$492.50
Categories: Uncategorized