Finally, some progress! Stayed out of the market till past 9 AM central due to consumer sentiment report coming out at that time. Took a couple of small trades afterwards, but exited too soon (this is becoming a repeating theme). Entries were solid, and shorted close to high of the morning, then took a quick counter-trend scalp. Was busy with a lot of work/meetings for most of the day. Finally got around to checking the ES chart around 2 PM central, and ES was trading around 910. It went down to the low 900s; I waited for a snap-back to get short and scaled into a 8 contract position. Target at the time was in the mid 890's, but ES really took a dive, and I exited the entire position in the low 890s. For the first time, I actually held on to the position with some patience and was rewarded accordingly. As I type this, ES is trading at 863, so I guess I still exited early, but I'm satisfied with the performance given the fact that I had to get to another meeting and didn't want to leave an open position.
This is a record profit day for me (+$6,756). Although I'm fairly excited about today's performance; come Monday, I have to forget today ever happened and start from zero.
By the way, just want to clarify that all charts posted here are on Central (Chicago) Time zone.
TradeStation Performance Summary
Trades Plotted on 3-Min Chart
Current FIB Levels (240 min chart)
Market Structure Chart (5-min)
My views on trading the E-Mini S&P 500 Futures utilizing Price Action, Market Structure, Volume/Market Profile and the Auction Market Process. Visit www.EMiniPlayer.net for Daily Key Support/Resistance Zones, Trade Plan and Educational Recaps.
Friday, November 14, 2008
Friday 11/14/2008 Trades
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Now that's a good day's pay!ReplyDelete
Thanks Michael! As you know, consistency is key in this business, and today is just 1 day's performance. Need to focus on consistency over time.ReplyDelete