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05/04 Trading Recap

Trade #1 – Buy 1178, Sell 1180.50.  I bought here because I had 1177.50 pegged as a serious support level.  Also the 15 min chart had just crossed into “oversold” territory.  I sold because I had 1180.50 pegged as a key resistance level.  The trade could have gotten 2 extra pts but I’m pleased with the performance.  Result: +$250

Trade #2 – Buy 1169, Sell 1167.  I bought here because 1168.50 was a 100% IB extension as well as the fact we were 30 pts below yesterday’s close which is exactly 200% of the 10 day range (15 pts).  I used a 2 pt stop which was just too tight as it kicked me out on the low tick of that move.  Result:  -$200

Trade #3 – Buy 1167.75, Add 1169, Sell 1171.50, Sell 1171.75.  After getting stopped on the low tick I noticed the dom was just going crazy.  I reentered at 1167.75.  The market rallied to approx 1172 and pulled back which is where I added.  I took half off on the way up at 1171.50.  Price maxed out at 1173.50 and I sold the other 2 on the way back down at 1171.75.  It’s possible I should have recognized we were in a downtrend and that 1174 was going to hold.  I was clearly fighting the overall trend but thought we had hit some significant support.  Result:  +$650

Trade #4 – Short 1168, Buy 1172.  This was finally a mechanical percent r short signal.  I had definitely missed some earlier opportunities but decided to take this into the close.  I thought there was potential downside to the ES but also knew I there could be short covering.  Well, unfortunately we got the short covering.  I also moved my stop because I could tell it was overdone but as always, these moves can get more overdone than you think.  I should not have moved the stop.  Result: -$400

The last trade of the day definitely leaves a bad taste in my mouth but hopefully I do the right thing and just let it go.  I have definitely let something like this get me in the past, but I’m writing about it now which will hopefully serve as a release.

  • PnL:  +$300
  • High Win:  +$650
  • Avg Win: +$450
  • High Loss: -$400
  • Avg Loss:  -$300
  • Avg of Last 4 Winning Days: +$725
  • Avg of Last 1 Losing Days: -$125
Categories: Uncategorized
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