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
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4 comments:

  1. YM-TraderMay 2, 2009 at 8:20 AM

    E-Mini Player,
    What is your name by the way..at 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.

    ReplyDelete
  2. E-Mini PlayerMay 2, 2009 at 9:22 AM

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

    ReplyDelete
  3. YM-TraderMay 2, 2009 at 2:17 PM

    Awais,
    Here's the link for "Coping with Ambiguity"...
    http://www.rainbowmtntraders.org/forum/viewtopic.php?f=7&t=40

    ReplyDelete
  4. E-Mini PlayerMay 3, 2009 at 12:50 AM

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

    ReplyDelete

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