1. Identify trend on 3 min and/or 5 min charts.
2. Trade only in direction of trend. This is going to be tough since I have a natural tendency to trade counter-trend. This would work out if I had a big account and a seat on the CME, but I don't have either of those, so I need to shoot for bigger profits and be more efficient with my trades (less trades, for larger gains). 2 points will be my max stop-loss. Bigger gains shouldn't mean sloppy entries.
3. Shoot for a minimum 1:2 risk/reward ratio. Preferrably 1:3
I may not trade rest of the week or trade VERY lightly since I need to finish my final project for class by this Friday, as well as the IT project for my client. But I'll still continue to make a new post every evening with the regular charts and will be updating the Gap Tracker post as well.
On to the charts...
ES 610-tickbar (Morning Trades)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjkc6q1Z5rCRjqdbqf9_AaCwpgpvCRLQxnQhyphenhyphenknwPCTk5K1zp_y4nmTb0s1nsieQJ7fuTn_mtqf5s0uOaduaFSMSs-A2YQHmAytUBN3BlxyL27CzXEHfSC0fu2YWukr3P6m04xzv6kRntcs/s400/20090317_MorningTrades.jpg)
ES 610-tickbar (Afternoon Trades)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgludBsFuy7x5LUcoNGOKkOL54PoZ4Tw2pc5Oxcf_FdbQisFrleCf-zuk7YKkRUZn08s6_S8OLkWyn5d2r7tbcADwkxwB3Ri8FatD4Nl1AyOelj5GUEcE2QBT4Mo0SWcQFxDU9jbduz8a1a/s400/20090317_AfternoonTrades.jpg)
I really didn't think ES would take out yesterday's high of day, but I guess this is what happens when too many people (in this case, shorts) are caught on the wrong side and have to liquidate their positions.
TradeStation Performance Summary
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnmjA2QXmPlS_8Q_E1NMn5_uZEJXKXy_At_lKPlCM04hYrjikeIkdOn5_2TS82ma8Jhgund6xxdCWdT9fNFnVSRb9x-Lu3MVld5RWzDlXpdNxX_5KDvhVSc_A5iZlAf313n4xAxx2RaPDW/s400/20090317_PerfSummary.jpg)
Gap filled at Open
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1IsX4SxHNnMB0kS46c2qMj66ohlwf3LRd4ODJAkKjWWzlAKEmf-ee2eNEqpy3gGx5NL3OQSgUp-XpBjGapjmiOQLOoKRmKskcHlc3NagbNGLUkUgI6-D_2sFvX7qnxvVyq_gkP2mCuclP/s400/20090317_GapFilled.jpg)
ES/$TICK (3-Min)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHc8OaYWMdKv7llVWG_fIp26Z01q6EKsykATBrr5NcGhoj5NmG_mO__J8Zod-XXKGhpqZtdb-o2TYnQ81nbE6ISMbs6ay4nCU1NnVmTcofunm7MUz3GZ47TqzxSeO24UCeLmbCc1iGRQ6P/s400/20090317_ES_3Min_TICK.jpg)
Dude if you keep this up your going to have to start going live soon. I mean you still haven't had one losing day yet man!
ReplyDeleteWe will get back at it tomorrow!