Friday, May 1, 2009

Friday 05/01/09 - Positive Day

I only traded for a couple of hours today (10:30 AM - 12:30 PM central) since I was at the condo in the morning, and busy with other errands in the afternoon, and although today's P&L reads +$212.50, I'm much more satisfied with my trading today (grade of B-) compared to yesterday's +$1,100 gain, which I graded as a C-. My discipline was better today, although there's still room for a ton of improvement. You can check the Trade Chart to get an idea of my primary trades for the day, but basically, scalped long at a support level; scalped short at trend-line resistance, and then scalped long again once trend-continuation was confirmed, and exited on the stop-run that ensued once ES broke to a new high of day. That's it...pretty simple and straight forward trades today.

ES 610-Tick bar Chart (Trades)

My bias continues to be to the upside. At this point, if ES breaks below 850, bias switches to neutral. A break below 830 and the bears are back in control. That's all for today folks! Have a nice weekend :)

ES/$TICK (3-Min) - Gap filled within the first 20 minutes of market open. Over 100,000 contracts traded at the close with an 8 point up-move; I'm guessing that was mostly Shorts covering their position.

ES 60-Min - Bounce off the 50% retracement; Close above the 23.6%. Lookin good for the Bulls


  1. E-Mini Player,
    What is your name by the least your first name? Yes, I saw the quote about complacency at Don Miller's site (that's how I found your site). A few days ago, after a tough day I unwound and re-grouped by writing a little article about "Coping with Ambiguity" and posted it in a little known trading forum (where I like to stick some self-thoughts periodically). I can post it here if you're interested. Just something to read and think about IMHO.

  2. Hi Chuck, yes please feel free to post the URL to your post. And the name's Awais.

  3. Awais,
    Here's the link for "Coping with Ambiguity"...

  4. Great write-up Chuck! Thanks for the link :)


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