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

6 comments:

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

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

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

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  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.

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

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