I was up till around 2 AM last night working on non-market stuff, and I know I can't trade while I'm sleepy, so decided to sleep in. I got to my screens around 11 AM, and there wasn't much going on, so scalped it short and then long for +2 pts. I should've held the long trade since price was finding some support around the 808 area (I was long from 809), but at the time, market was looking weak, so I bailed for a point. After I exited, price shot up 3-5 points in a hurry, at which point the risk/reward just wasn't there for me to buy, and I wanted some further confirmation before entering the market again. This brings us to the afternoon trades. Price couldn't reach yesterday's high, which was a warning sign that bulls were losing momentum, but I didn't want to enter short either since price had made a higher high, so I just sat it out. Then price started breaking down, and I entered short and was stopped out for 3 ticks. I got chopped up a bit trying to figure out the direction the market wanted to go, and it was quite frustrating. The market finally showed its hand around 2 PM when it broke the mid-point, but I wasn't at my desk to do anything about it. I had to step away, and told Matt via Yahoo IM that now that I was out of my short, ES would probably tank. and that's exactly what happened. I was a bit paranoid from the lack of follow through I experienced earlier so just took one more quick scalp to the short side when I got back. I had a feeling we would break the 1st hour low since they couldn't even push price back up to the mid-point, but I was unable to capitalize on the idea.
Ended the day with a +$250 gain, via a 67% win rate and a profit factor of 6.11.
For tomorrow, I'll be mindful of the 800 area, which held as support today. Below 800, I'll be expecting support around 790, 784, and then 774. I think price could come all the way down to the low 760s again (thus filling the open gap at 763.75), and still retain it's bullish structure.
ES 610-Tick bar Chart (Morning Trades)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRYiOYhyphenhyphen95-tRZPCzxHSWbaNwkyl0VWFmVVfs4VAre76BR7mRCzu2aCOU3U76PjGbCb3AsvKh5iyul14dPReOiEE21XK9eiPCCSvwuX51R0p8MPuWnvIAqewfZG__w16P6DXgKB8_fzS89/s400/20090324_MorningTrades.jpg)
ES 610-Tick bar Chart (Afternoon Trades)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEha8SWo3IVnGUCfLTLfY5pWcIiZbzBvOFSfdXMjoL5xzn_tzIYQMqHkbzl4SqEBV4b1kHg9v_vlWClE1F0gi8w906RsnGNWwTMo0a6F-_HkEHJG6t5s2JRXFCtk0Dmx-ZJaiAXNtLvJhm0G/s400/20090324_AfternoonTrades.jpg)
Gap filled by 12:30 PM
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi6yD5VkH8FuULqUtNatojmEao1kDd9g_atIF2GflfeekSBpwpHDQlo6GXec-cMOW-F6uRn4oGdKW2VEZHL_i1orPtbWgl8j-AApbhG5rPN75c5DCLRoamY39ru8_YiJzQXfIWW469yI-0n/s400/20090324_GapFilled.jpg)
ES/$TICK (3-Min)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiOiW81I1CDUNSZLdYQbC_ExVgViuibX3hyphenhyphenTjzzrdki2kATS9TqibFYD-vDecPB1yQRoW8V1R8yAbI11iPq4blS5TZhrRCxLKKJSl_6z_EkBcLyuxCXm-jiTybLCqr-Hz0ed1SGkMEXwWF0/s400/20090324_ES_3Min_TICK.jpg)
ES 15-Minute
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9hsZsK1FdY1t_4MYPs7jSV5wQCiKZVlOowZC73NqzprxgiLf_dlG0VfmhwTNdqSYd5_jWNsOQ5IddWpR6YSltu_9Jj8b4OUQ1wKKiYAuyU7YYaGfX3KEzmuSMZLavsG6wjGyW7oMzWhhT/s400/20090324_ES_15Min.jpg)
You traded great today man. Good work!
ReplyDeleteI had to redeem myself this evening so i've been trading a 70 lot on the EURUSD 1 min... I'm up 10k on 3 trades so far! ;)
Appreciate the kudos bro, but I'm not satisfied at all with today. Need to stop making the same mistakes over and over.
ReplyDeleteLOL @ your 70-lot trades! C'mon man, real ballers stick with 100-lots or more! Step it up buddy :D
Not enough margin in my fake account! ;)
ReplyDelete