Wednesday, March 18, 2009

Wed. 03/18/09 - Trend Trading

I decided to sleep in today and got to the screens in the afternoon.

Trying to follow the rules I set out yesterday.

12:18 PM - Long at 771.75 (Uptrend on 3-min time-frame, bought the .618 retracement)
12:44 PM - Exit at 776.75 (1 tick below yesterday's high of 777) for +5 points

1:11 PM - Normally, I would have shorted the double-top in the 777 area, and looks like that would have worked too, but sticking with yesterday's goals, I'm staying out of shorts until the up-trend is clearly broken or price becomes way over extended

2:24 PM - Just hit it long at 781 (market mid-point + 200 EMA on 1-min chart + positive divergence on volume oscillator, support below so I can probably bail for break-even if it doesn't work)
2:25 PM - Exit at 783 for quick +2 points (should have held for a bit longer but there was a lot of momentum to the down-side. Initial target was 785; the level where price broke out to higher highs earlier)

I made more money today in 2 trades than I did with15+ trades yesterday (efficiency). This is EXACTLY what the goals from yesterday were shooting for. Now lets see if I'm able to keep this up.

ES 610-Tickbar (Morning Trade)

ES 610-Tickbar (Afternoon Trade)

Gap filled by 12:45 PM

ES/$TICK (3-Min) - Remained above zero line most of the day


  1. Nice job. That's a really good start to optimizing your plan.

  2. Thanks! I just need to make sure I can consistently trade this way.

  3. I'm impressed. You're so disciplined! Awesome trades :-)

  4. Jules, appreciate the kind words, but it's too early to tell. Consistency is key. Lets see how this goes. I'm still struggling but did make some progress today.

  5. nice trading man! Solid stuff. I can't believe i'm seeing fib's on your charts. Its scary!

  6. Nice trading, keep it up!


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