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06/01 Trading Recap

If I take anything from this today execution related, it would be that 1. I need to stop chasing this one pt late crap. 2.  If I think the ES is truly in play vs. the TF it’s ok to go with that instinct, but do it early and not on the 2nd or 3rd opportunity, 3.  When u get a 8:35 percent r fade trade, make sure it’s a legit sig all around.

Trade #1 – Short 1080.25, Buy 1081.25.  This was my 8:35 percent r fade setup.  There were some definite red flags on this trade.  First although the tf gave the signal at 8:35, the ES couldn’t even give a red bar.  It was showing definite relative strength and there was a gap above still to close.  The chart also appeared to be in a strong up trend.  I got +2 pts on the trade and the support level was the VWAP but it never even crossed my mind to get out for break-even.  I got out of the trade early because of these fears.  Result: -$100.

Trade #2 – Short 1081, Buy 1083.  After I got out of the previous trade, the market immediately started to drop.  I thought this may be one of those instances where I just happened to cough up my cts at exactly the wrong time.  I decided to hop back in and give it the maximum risk allowed for the trade entry.  Result: -$200.

Trade #3 – Buy 1082, Sell 1080.50.  Well this is a trade I just flat out screwed up.  From my stats, I know that Mondays do have a propensity to trend.  The TF chart was no longer in play but the ES was trending up strong and had just given a percent r long signal.  The mechanical entry was 1081 and I got in after it moved 1 pt in the right direction.  However this was one pt late and meant I might have to endure 1 pt of extra heat.  Already being down $300 for the day, I decided a little too late I wasn’t up for this.  I got out of the trade at 1080.50 which just happened to be the low tick.  Another reason I got out is because with my percent r trades I’ve noticed lately that instead of my normal 3 pts of risk, the mkt lately has been going 3.5 or 4 pts the against the trade and then reversing to the desired direction. Well, so far at this pt in time it moved exactly 4 pts against my setup.  The fact is that setup just because it then sky-rocketed (on the 9:00 news announcement) to reach my target and beyond.  Results: -$150.

Trade #4 – Short 1092.50, Buy 1090.50.   This was a short at the ES restested Friday’s initial balance low.  It also appeared the ES had reached an exhaustion pt.  I wanted to stay conservative here though as the TF was finally giving a mechanical percent r long and the indexes were all in nice uptrends.  Result: +$200.

Trade #5 – Buy 1088.50, Sell 1085.50. Mechanical percent r long signal.  Results: -$300.

Trade #6 – Short 1088.75, Buy 1089.25.  Results: -$50.

Trade #7 – Buy 1091.75, Sell 1087.25.  This was by far my dumbest trade of the day.  Percent r had confirmed on the ES but not the TF.  I thought the ES was the chart in play and took this trade.  I was also just looking for action.  My execution was terrible on this as I bought 1.25 pts too high too. Results: -$450.

Trade #8 –  Short 1081.50, Buy 1077.25.  This was a mechanical percent r short signal.  I took this off as I was over $400 in unrealized gains and we were testing the day’s lows (1076.75).  In reality the market lately has been like a cruise missile into the close.  If you hold, you’re getting paid on these moves.  I could have held for a much bigger payday.  Results: +$475.

  • PnL:  -$625
  • High Win:  +$425
  • Avg Win: +$335
  • High Loss: -$450
  • Avg Loss:  -$208.33
  • Avg of Last 10 Winning Days: +$753.09
  • Avg of Last 9 Losing Days: -$685.88
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