Home > Uncategorized > 06/07 Trading Recap

06/07 Trading Recap

My Trades:

Trade #1 – Buy 1061, Sell 1064.50.  This was based on the fact that the TF had confirmed but the ES gap chart had only setup.  Got long 1061 and could have held for more but was a nice trade to catch +3.5 pts.  Result: +$350

Trade #2 – Short 1069.75 (1), Buy 1069.75 (1).  This was based on the 15 min chart and is a perfect example why I have 2.5 pts from the entry as my break-even and why I have to be careful with pulling something off a little early.  The mechanical entry was 1069.25.  I sat on it and got in 2 ticks better.  Once I got +2.5 pts in my trade (but only +2 pts from the mechanical entry) I moved the stop to break-even.  The ES came back and stopped me out as it went 1 tick higher than my entry to 1070 before dropping big time to reach the ultimate target.  Result: Scratch

Trade #3 – Buy 1064.25, Sell 1063.25.  This was an attempt as the 15 min chart re “setup”.  Result: -$100

Trade #4 – Buy 1061, Sell 1064.  Result: +$300

Trade #5 – Buy 1063.50, Sell 1063.  Another percent R signal that I didn’t like but I gave a shot.  Was able to come out only -2 ticks.  Result -$50

Trade #6 – Short 1062.50, Buy 1059.50.  Percent R signal that chickened out on and only got 3 pts although it went on to my target of 5 pts.  Result: +$300

System Trade Review:

Trade #1 – 9:50 Short 1064.50, Buy 1067.50 – The market reversed at what seems to be the normal reversal time of 9:45.  The ES gap chart had just “setup” and the push down and then the up move was very severe which normally do not work well with this setup.  So, taking into account those circumstances, I was not feeling positive about the trade and it failed.

Trade #2 – 10:15 Short 1069.25, Buy 1064.25 – I really was not feeling confident about this trade either but I was wrong.  After having the strong bounce and taking into account it being Monday, I thought the bounce could continue.  Also, although this was the first “mechanical” signal for the setup, there had already been a very profitable “almost” signal.  Most of the time, the “almost” signal ends up being the only profitable one, but this did work well, though not without it’s challenges.

Trade #3 – 1:45 Buy 1065, Sell 1062.  I didn’t like this trade as was during the lunch chop, and the day wasn’t really a trend type of day.  Plus it immediately was not working.

Trade #4 – 2:30 Short 1062.50, Buy 1057.50.  I liked the short even though we weren’t really trending because we still had plenty of room to the LOD (1057.50).  The bounce was off the IB low, but I like these plays after 2:00 that are making a move against the IB.  One thing I did while actually in the trade was pull the trade off for +3 vs waiting for the full +5 pts.  That was clearly a mistake and was more about money than executing the system.

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