ES 10/31/13 +2.25

I didn't trade yesterday, as it was FOMC Statement day. The market tends to be very erratic, fast and unpredictable when the Fed speaks. Also, I thought I would miss today's morning session, as I had to go to the airport. Instead, I was able to make it back just a bit pass 10 AM. Did 3 trades, missed 2 and skipped on 2 other on this overall range day.

Trade #1 - Prices made a double bottom, having just broken support at the prior level. Took a 2nd entry long via a limit order. The signal bar wasn't the prettiest, but it was green nonetheless. +1.00 pt.

• buy 1 @1752.00 at 10:41
• sell 1 @1753.00 at 10:44

Missed trade #1 - Did not get filled on my limit order to go long on a failed 2nd entry short. Prices moved up too quickly (notice the gap in b/w the signal and trigger bars). Would've gotten a winner here.

Missed trade #2 - Classic 2nd entry long, with support on an upward sloping trend line. Did not see this setup, as I was not looking at the chart. Would've gotten a winner here too. Dag!

Skipped trade #1 - Thought about it, but ultimately didn't take this 2nd entry short. The trade would've worked, but would've had to sweat through a bit of a pullback (see 2nd skipped trade below). Anyway, 2 main reasons for me not taking this trade:

1. The signal bar was somewhat bullish (still green)
2. It would've been a countertrend trade

Skipped trade #2 - After what looked like a failed 2nd entry short, I was tempted to go long. However, prices were near both the top of the trend line and resistance line. Didn't think there was enough room to scalp out. Didn't take the trade. Prices did move up, but only for about 3 ticks before retracing 2 points back to the trend line.

Trade #2 - Took this 2nd entry long, but came within 2 ticks of being stopped out. In hindsight, it was a bad entry, as it was taken at the top of the small trading range. Also, where I entered, prices had not touched or bounced off of the trend line yet. When prices started heading up, I bailed for +0.25 pt. It then shot up about 3.50 points further. Might be paranoid, but I'm sure prices would've tanked, had I held on. Cameraman is always watching.

• buy 1 @1760.00 at 13:50
• sell 1 @1760.25 at 14:10

Trade #3 - The setup for this trade is somewhat similar to "Skipped trade #1". It was a 2nd entry short setup. Would've also been a countertrend trade. Another additional negative was there were a lot of overlapping bars. But, I went ahead and took this trade due to 2 main reasons:

1. Prices made a new high (range rules)
2. Bearish signal bar

Took a little bit of heat, as prices bounced a little. However, when the bottom fell out, prices dropped fast. I got my +1.00 pt scalp. Had I had any runners, it would have been good for another 10+ points.

• sell 1 @1762.75 at 14:35
• buy 1 @1761.75 at 14:52

ES chart 10/31/13

ES 10/29/13 +1.00

Same shit, different shoe. Market moved at the same snail's pace as yesterday. Seemed like all good trading opportunities ceased at around noon time. Did two trades today, but I should have just stopped after the first one and called it a day.

Trade #1 - Failed 2nd entry short, after prices had formed a double bottom. +1.00 pt.

• buy 1 @1761.75 at 10:23
• sell 1 @1762.75 at 10:30

Trade #2 - Went long on a 2nd entry, after prices had formed a triple bottom. Had a good feeling about this trade and was pretty sure of getting my scalp. However, prices dropped further and I was within 2 ticks of getting stopped out. When prices rallied a bit, I took the opportunity to bail out at break-even. Didn't do this twice yesterday and got burnt twice for it. Of course, the market being what it is, after my exit, prices continued up another 3.5 pt. I was right on the direction, but my entry was just a bit too early. Seemed like there was a cameraman filming behind me. All my actions were being transmitted back to the market. I somehow suspect that had I not bailed out early, the market would've dropped to take me out. But since I did, it carried on up. 0.00 pt.

• buy 1 @1764.25 at 15:31
• sell 1 @1764.25 at 15:39

ES chart 10/29/13

ES 10/28/13 -1.00

Not a good day overall to start the week off. Morning trading was OK, but the market just slammed on the breaks and halted to a crawl around noon. This was when I got myself into some trouble – took two consecutive losing trades. However, for those two losers, I still could have gotten out with +2 ticks each, but greed got the better of me. Going forward, I need to trust my gut instincts more often. Bailing out of a trade at a tick gain or even break-even is better than getting stopped out. Anyway, ended the day negative.

Trade #1 - 2nd entry long with trend line support and prices exhibiting higher highs and higher lows. Got my scalp of +1.00 pt.

• buy 1 @1753.50 at 9:43
• sell 1 @1754.50 at 9:45

Trade #2 - 2nd entry short, after prices made a new high. In hindsight, I should not have taken this trade, as 3 consecutive Dojis had already formed. I was just too anxious to take a trade. Anyway, I still had a chance to bail out with 2 ticks profit, but instead took a -1.25 pt loss. This trade took almost 1 hour, from entry to exit. Another sign that it was in trouble.

• sell 1 @1758.00 at 13:27
• buy 1 @1759.25 at 14:24

Trade #3 – Bad entry (chased after this 2nd entry long). Paid for it with a loss of -1.75 pt. Again, I could have bailed out with 2 ticks profit, but instead held on.

• buy 1 @1759.25 at 14:27
• sell 1 @1757.50 at 15:09

Trade #4 – Immediately after being stopped out on my previous trade, I went short on selling momentum. The bar was very bearish. Took some time for this short to work out. A few times I was even considering exiting early for a tick or two. +1.00 pt.

• sell 1 @1757.50 at 15:09
• buy 1 @1756.50 at 15:35

ES chart 10/28/13

ES 10/25/13 +1.25

Wow...what a frustrating, choppy and slow day. Can't seem to get into any setups that actually worked. Either they weren't present when I was watching the charts or I missed them due to being away from my desk for a quick moment (lunch, bathroom breaks, etc). Also, had some trouble getting the correct trend lines in place, which caused me to miss (not able to identify) two good entries. The two trades that I got in this morning didn't pan out. Never got any traction. Bailed out on both for a tick or two.

Trade #1 - Decided to go short, as prices met resistance on the upper trend line. The bar was very bearish and ran down quick. Had to get in on the next bar. Prices did drop by 1 pt from my entry, but didn't tick through before retracing. Didn't get my scalp target, instead got stopped out for a tick gain. This frustrating tick through thing has been happening to me a lot. Anyway, congestion and a couple of Dojis followed, which caused me to bail out on the runner early. 0.25 + 0.50 = +0.75 pt.

• sell 2 @1748.50 at 10:22
• buy 1 @1748.25 at 10:32
• buy 1 @1748.00 at 10:34

Trade #2 - This was a failed 2nd entry short that didn't work out. After I got filled on my long entry, prices reversed and headed down fast. The bar was bearish and I thought I would be stopped out. Instead, prices reversed again, with an equally strong bar and I took the opportunity to bail out for a tick on each contract. 0.25 + 0.25 = +0.50 pt.

• buy 2 @1749.75 at 11:01
• sell 2 @1750.00 at 11:05

ES chart 10/25/13

ES 10/24/13 +6.25

Today seemed like it was an uptrend day, but within a big overall price range. Did two trades...all before 10:30 AM. I was basically done at this point, even though I watched and somehow missed two other good trades later on.

Trade #1 - Prices formed a triple bottom. Took a 2nd entry long off the low of the day. I exited early on my runner, due to an upcoming 10:00 AM economic data release. 1.00 + 1.25 = +2.25 pt.

• buy 2 @1741.25 at 9:49
• sell 1 @1742.25 at 9:52
• sell 1 @1742.50 at 9:55

Trade #2 - Was hesitant (again, for the 108th time) for a second about taking this 2nd entry short, as prices were trending up. However, went ahead and took the trade, due to 3 reasons:

1. Resistance at both the major and minor sloping (albeit upward) trend lines
2. Resistance at median horizontal resistance line
3. Uptrend within an overall range, so range rules could apply

This turned out to be an excellent trade. Got both my scalp and runner targets fairly quickly. 1.00 + 3.00 = +4.00 pt.

• sell 2 @1744.25 at 10:23
• buy 1 @1743.25 at 10:24
• buy 1 @1741.25 at 10:28

ES chart 10/24/13

ES 10/23/13 +2.00

Took only 2 trades today. Missed about 5 others. Ended trading early, as I just got tired of looking at the charts and missing trades.

Trade #1 – Was looking for a bounce, after prices broke the trend line. 2nd entry long on a limit order. Scalped out for +1.00 pt.

• buy 1 @1742.25 at 9:39
• sell 1 @1743.25 at 9:41

Trade #2 – Again, a 2nd entry long on a limit order. +1.00 pt.

• buy 1 @1737.50 at 10:31
• sell 1 @1738.50 at 10:34

ES chart 10/23/13

ES 10/22/13 +3.50

I didn't trade yesterday. Had some neck pains, when I woke up. Couldn't turn my neck. Must have slept in the wrong posture. Anyway, for today, I did a lot of trading. Too much for my liking. I think I should have stopped after the first 3 trades. Seems like 3 is my optimal number. Also, did some stupid things like averaging down and not sticking to my stop price.

Trade #1 - Got +1.00 pt on a breakout pullback long.

• buy 1 @1744.75 at 9:32
• sell 1 @1745.75 at 9:35

Trade #2 - 2nd entry long with trend line support. I got shook out of this trade. I bailed for a tick, after the Doji formed. Better safe than sorry, I guess. +0.25 pt.

• buy 1 @1745.50 at 9:47
• sell 1 @1745.75 at 9:51

Trade #3 – Again +1.00 pt on a breakout pullback long.

• buy 1 @1750.50 at 10:05
• sell 1 @1751.50 at 10:11

Missed out on the reversal, as the market gave back all of its morning gains. Had a short entry limit order that was not filled. Didn't want to chase after a trade, so just sat back and watched, as the market continued its downward trajectory.

Trade #4 – Went long on a failed 2nd entry short. Trade didn't work out. Should have limited my loss and bailed out. Instead, I took a full -2.00 pt stop. Ouch!

• buy 1 @1746.75 at 11:11
• sell 1 @1744.75 at 11:14

Trade #5 – After stopping out on the previous long, I went short immediately. I have to admit that this was an emotionally-driven entry. Worked out this time, but I should not have gotten into this trade. +1.00 pt.

• sell 1 @1745.00 at 11:15
• buy 1 @1744.00 at 11:16

Trade #6 – After prices hit my scalp target on the previous short, it reversed. Took a 2nd entry long. It was an aggressive trade (countertrend), as the market was in a downtrend now. Prices moved up just enough for me to scalp out +1.00 pt.

• buy 1 @1744.75 at 11:18
• sell 1 @1745.75 at 11:19

Trade #7 & #8 – I broke a couple of trading rules here – never average down and never adjust my stops. I took a long entry, after a double bottom had formed. Not a good enough reason alone for a trade. I realized my mistake, but knew prices have a good chance of bouncing off of the trend line. However, that support area is a bit below my max 2 pt stop loss. I did a stupid thing and moved my stop below that area. Prices came down and found support, as expected. I went long again (avg down) here. Escaped with a (0.25) + 1.50 = +1.25 pt. Prices ran up another 5+ pt, afterwards. Done for the day.

• buy 1 @1747.00 at 12:26
• buy 1 @1745.25 at 12:49
• sell 2 @1746.75 at 13:05

Even though I was net positive, it was a disappointing day overall. I had 7 winners vs 1 loser, yet ended up only 3.50 pt. Main culprit is the 2:1 risk/reward ratio. Not sure if I can come up with an alternative to this, though. Over-trading was not good. Taking a full 2 pt loss on Trade #4 was bad. Breaking a couple of major trading rules was the worse.

ES chart 10/22/13

ES 10/18/13 +4.25

Had some difficulties figuring out whether it was an uptrend or a range day. Initially, thought it would be the former, but by late morning, it looked like the latter. Was switching my S/R lines around. Turned out my initial uptrend lines were correct, as the market was basically in an upward trajectory the entire day. Had a hard time trying to keep awake in the afternoon period, though. It was slow moving. Trading-wise, I took 2 trades, but missed on 2 other good ones.

Trade #1 - When the regular session opened, it looked like an uptrend day. Prices retraced and bounced off of both the trend line and EMA, before closing up as a bullish candlestick (price rejection). Went long and got 1.00 + 1.00 = +2.00 pt. I bailed out early on my runner, as prices were hitting overhead resistance.

• buy 2 @1734.00 at 9:50
• sell 1 @1735.00 at 9:54
• sell 1 @1735.00 at 9:59

Trade #2 - By this time, I had reset my S/R lines to accommodate for a range day. Took a 2nd entry long, with support (prices tested support area 3 times). Got a bit nervous when two consecutive Dojis formed. Again, manually exited on my runner. Would've gotten my 2nd target, had I held on. 1.00 + 1.25 = +2.25 pt.

• buy 2 @1731.25 at 10:36
• sell 1 @1732.25 at 10:43
• sell 1 @1732.50 at  10:53

After this 2nd trade, reverted back to my original S/R lines meant for a trend day. Missed out on 2 good trades due to hesitation on my part. Nothing else for the rest of the day, except a late long entry setup. However, by this time, it was almost near closing.

ES chart 10/18/13

ES trades for 10/17/13

This will be a very brief recap of today's trades. As was noted yesterday, I stepped out of the apt. and didn't return until about 10:30 AM. Checked the chart and it was setting up to be an uptrend day. Again, I took 3 trades. All were to the long side and were winners.

Trade #1 - I misread this to be a breakout pullback long entry. It wasn't, but luckily the trade worked out. One of the benefits of trading with the trend. Even if you make a mistake, odds are stacked more in your favor. +1.00 pt.

• buy 1 @1718.25 at 11:18
• sell 1 @1719.25 at 11:33

Trade #2 - A failed 2nd entry short with trend line support. +1.00 pt.

• buy 1 @1720.00 at 11:43
• sell 1 @1721.00 at 11:45

Trade #3 - Again, a failed 2nd entry short with trend line support. This time, prices were bouncing off of the EMA as well. +1.00 pt.

• buy 1 @1722.50 at 15:01
• sell 1 @1723.50 at 15:07

ES chart 10/17/13

ES trades for 10/16/13

Yesterday: Didn't trade the whole day - had to run some errands.

Today: Traded until 2 PM - needed to head out for an appointment.

Tomorrow: Won't be trading in the morning - nephew's b/d celebration at school. Will be back for the afternoon session, though.

It was an uptrend day for the most part. From about noon on, though, the market was flat to slightly lower. Anyway, here is a quick update on today's 3 winning trades - 2 longs and 1 short.

Trade #1 - Took a 2nd entry long, with trend line support, just after the regular market opened. Really fast trade. Got my +1.00 pt scalp in under 1 minute.

• buy 1 @1702.50 at 9:33
• sell 1 @1703.50 at 9:34

Trade #2 - Saw a failed 2nd entry short, as prices bounced off of the trend line. Went long right after the formation of a very bullish trigger bar. This time, my target was hit even faster. Total time elapsed from entry to exit was 0:25 seconds. +1.00 pt.

• buy 1 @1711.00 at 10:15
• sell 1 @1712.00 at 10:15

Trade #3 - Got my down trend line in place. Took a 2nd entry short, as prices met resistance at the upper trend line. Prices hit my target a few minutes before I had to head out at 2 PM. Had it didn't, I would've manually exited for whatever amount I could have gotten. Prices went to as low as 1710.50 before bouncing. Would've love to have traded with a runner. +1.00 pt.

• sell 1 @1714.50 at 13:46
• buy 1 @1713.50 at 13:56

ES chart 10/16/13

ES trades for 10/14/13

It's Columbus Day today, but market was opened. It was a trend day, but a slow one. Did 5 trades today - 4 winners and 1 loser. Still net $ wise, it didn't amount to much, as I didn't catch any runners.

Trade #1 - 2nd entry long on a bounce off of the EMA. Failed to gain any traction. Stopped out for a loss of (1.75) + (1.75) = -3.50 pt. Bad way to start the day.

• buy 2 @1689.75 at 9:59
• sell 2 @1688.00 at 10:09

Trade #2 - Went long as prices made a double bottom. Even though I got my scalp target, it would've been safer, had I waited on a 2nd entry. 1.00 + 0.25 = +1.25 pt.

• buy 2 @1689.00 at 10:13
• sell 1 @1690.00 at 10:33
• sell 1 @1689.25 at 10:42

Trade #3 - Risky/aggressive trade, as this was a countertrend trade. Prices met resistance at the previous day's high. Went short immediately after the closing of a bearish candlestick bar. Prices dropped just enough for me to scalp out, before moving up nearly 5 pt. 1.00 + 0.00 = +1.00 pt.

• sell 2 @1700.25 at 13:49
• buy 1 @1699.25 at 13:54
• buy 1 @1700.25 at 13:58

Trade #4 - More or less a 2nd entry long. I missed the actual 2nd entry, but got in when prices bounced off of the median trend line & EMA. Only got a scalp out of it, as my runner was stopped out, before prices jumped for 4 pt. Sucks! 1.00 + 0.25 = +1.25 pt.

• buy 2 @1701.75 at 14:52
• sell 1 @1702.75 at 15:04
• sell 1 @1702.00 at 15:05

Trade #5 - Prices bounced a few times on the EMA. Went long, after a very bullish bar formed. Got my scalp, but I really shouldn't have taken both this and the previous trade. Even though both worked out, they were taken very late in the day. 1.00 + 0.00 = +1.00 pt

• buy 2 @1704.00 at 15:31
• sell 1 @1705.00 at 15:33
• sell 1 @1704.00 at 15:35

ES chart 10/14/13

10/12/13 wedding pics

Went to a former co-worker's wedding last night. My former manager and former group head also were there. Might write a bit more about it at a later post, but for now just a couple of pics. I had a good time overall. Good to see and catch up with people I used to work with. One thing that stood out for all of us were the food. The quantity and quality. There were over 20 main dishes (meat, fish & veggie dishes from A to Z). Plus, a separate table for seafood offerings (crab claws, clams, scallops, salmon, etc) and another for desserts. We were nearly in a food coma...mein gott!

dancers

banquet hall

ES trades for 10/11/13

Friday was an uptrend day. Did 3 trades - a pair of longs and a short. All were winners.

Trade #1 - Even though prices were forming a small downward sloping channel, I still went long. There were 3 reasons for this.

1. It was a 2nd entry
2. Prices were at the EMA
3. It was looking like an uptrend day

• buy 1 @1689.50 at 10:23
• sell 1 @1690.25 at 10:27

I had manually exited for +0.75 pt, in anticipation of prices meeting resistance at the upper trend line. Sure enough, after touching the trend line, it promptly reversed...which led to my 2nd trade.

Trade #2 - When prices reversed immediately and upon the formation of a bearish candlestick, I went short on a limit order. Price rejection entry. Was a bit nervous when, not one, but two consecutive Dojis formed near the EMA. However, I held steady, as I was expecting prices to test Thursday's high of the day. Prices broke through that level and went down further. Got my scalp of +1.00 pt.

• sell 1 @1689.50 at 10:28
• buy 1 @1688.50 at 10:35

Trade #3 - As prices continued dropping, I was expecting some sort of bounce around the main upward sloping trend line. When it did and the bar ended very bullish, I was tempted to go long. I held off, as I was waiting on a 2nd entry. Had I taken the trade, it would've worked out. Prices then bounced on the short upward sloping trend line that formed. Also, prices were at the EMA. I entered on a limit order on a candlestick that ended up bullish. However, the next bar finished bearish, but I did managed to get my +1.00 pt scalp with it at it's high point . The bar after that ended up as a Doji and failed to push prices down, which caused the market to rocket up. This could have been a failed 2nd entry short trade too.

• buy 1 @1688.25 at 11:24
• sell 1 @ 1689.25 at 11:26

ES chart 10/11/13

ES trades for 10/10/13

After yesterday's session, I was planning on being more selective in my trade choices going forward. Quality over quantity. Did just that today. Took only 3 trades. All were winners, though the last one was painful to watch. Better safe than sorry. I always remind myself this to lessen the pain.

Trade #1 - I had initially passed on this 2nd entry long. Didn't really want to take it, as the signal bar was somewhat bearish. However, prices subsequently bounced off of the upward sloping trend line. Went long on a limit order. +1.00 pt.

• buy 1 @1668.00 at 9:31
• sell 1 @1669.00 at 9:33

Trade #2 - Bullish day today. Prices broke off of the main upward sloping trend line and just kept moving up. Took a momentum long trade. It worked here, but I don't think I will do any more of these type of trades again. Need to stick to my rules. +1.00 pt.

• buy 1 @1677.50 at 11:36
• sell 1 @1678.50 at 11:39

Trade #3 - This is the trade that caused me some sorrow. Actually, don't know why I'm complaining, since I had no runners (trading single contract only). Also, even if I had runners, they would've been stopped out, as prices retraced before the power move up. I went long, after a candlestick bar that started bearish, but ended up finishing very bullish (price rejection). Didn't even bother waiting for a 2nd entry. In hindsight, maybe I should have, though. Prices retraced and almost stopped me out. Manually exited for +0.50 pt, as I thought support wasn't going to hold, as I suspected it would. Too bad for me, as the market just took off for another 10 points. Mein gott!!!

• buy 1 @1677.25 at 2:13
• sell 1 @1677.75 at 2:26

ES chart 10/10/13

ES trades for 10/9/13

Made a lot of trades today. I should definitely cherry pick my trades more often. Take only the best setups with the highest probability of success. This invariably requires a bit of patience, which I'm still working on. 11 trades is just too many, though.

At around noon, my internet connection went down. Had to manually do a reboot. This is nothing new (see my past post titled "TWC sucks!"). As a result, all trades prior to the loss connection don't have entry/exit details. I've manually highlighted (green=long, red=short) them, instead.

Out of the 11 trades, 7 were winners and 4 were losers. Even though I had > winners than losers, I still ended the day down -0.75 pt or -$37.50, before commissions. The main problem is that my losers were twice as big as my winners. For the strategy that I'm using, the risk/reward ratio is 2:1. I need to somehow find a workaround to this. It is an obstacle and a discouragement knowing that I have to make 2 winning trades to make up for every 1 losing one. More if including commission costs. I would probably need to have a consistent +75% win rate. Quite tough.

Also, I switched to a 2000 tick chart from the 1800 that I've been using. Just experimenting. Anyway, I'm too lazy and tired to post the entry/exit & time stamp details for the 11 trades. Please just refer to the chart.

ES chart 10/9/13

ES trades for 10/8/13

Started off on the wrong foot today. In my determination not to repeat yesterday's chart-watching session, I got into the first "good" trade setup I saw. It failed. I could have mitigated the loss, but the emotional roller coaster clouded my judgement. Didn't like starting the day with a loss like this. Spent the rest of the day (basically the entire day), yup...you guessed, chart-watching. Sigh.

Trade #1 - I can't see the forest for the trees! Prices were touching the upward sloping trend line, when a 2nd entry long setup appeared. As mentioned, in my eagerness to jump in, I'd failed to notice several details.

1. Prices were already at the double top resistance area. I must have been blind to have missed this!
2. At the prior high, prices did not reached the top of the trend line. It had stalled in the middle of no man's land to form the double top.
3. The signal bar was bearish. I might have escaped with a scalp had I entered via a limit, instead of a stop order.

Anyway, I still could have bailed out for 0.50 pt gain, when prices made another attempt higher. Greed & hope finally did me in. I was hoping that this next attempt would break through. Plus, I didn't want to settle just for half a point. Stupid move, as it costed me -1.75 pt in the end.

• buy 1 @1669.50 at 9:31
• sell 1 @1667.75 at 9:36

ES chart 10/8/13

No trades for 10/4/13 & 10/7/13

Didn't trade last Friday, as I had to do some errands. As for today, the attached chart is what I saw. Special emphasis on the word "saw", as I didn't take any of the 8 trades. Had ample opportunities to enter all of them. All would've been winners. Mein gott! Blame it on analysis paralysis, lack of sleep/concentration, mental block...whatever. Every once in a while, I just can't pull the trigger to enter a trade to save my life. It's somewhat fairly easy to pick out trade entries. Very hard to actually execute them. Sucks!

ES chart 10/7/13

ES trades for 10/3/13

The pre-market was down about 13 pt at one point. By the time the market opened, it had pared about half that loss. Took 5 trades today - 4 winners and 1 loser. The loser was the first trade of the day and it was somewhat more painful than my previous losses. I should not have taken that trade.

Trade #1 - The trend was up at the time. Went long as it was a 2nd entry and prices bounced off of the trend line. Looked like a great setup. However, I forgot that at 10:00 the ISM Non-Mfr PMI data comes out. Don't know why I'd let this important detail slip. I always kept the economic calendar opened and in all previous occasions, I'd steered clear of trading +/-30 minutes of a major economic data/news event. The market dropped about 7 pt leading up to the data release. (2.00) + (2.00) = -4.00 pt...ouch!

• buy 2 @1681.00 at 9:46
• sell 2 @1679.00 at 9:52

Trade #2 - Prices halted their downward projection around the area of the previous low of the day. Entered long on a 2nd entry with prices forming a double bottom. Seemed like countertrend trading, but at this early point in the day, it looked like a range day. Stopped out on the 1st contract again, due to that annoying 1 tick tick-through. 0.25 + 1.00 = +1.25 pt.

• buy 2 @1675.00 at 10:10
• sell 1 @1675.25 at 10:14
• sell 1 @1676.00 at 10:16

Trade #3 - Prices rose to the upper downward sloping trend line and met some resistance. Place my stop order below the bearish candlestick and got filled on a 2nd entry short. Got both the scalp on the 1st contract and the 3 pt target on the 2nd. 1.00 + 3.00 = +4.00 pt.

• sell 2 @1675.50 at 10:18
• buy 1 @1674.50 at 10:21
• buy 1 @1672.50 at 10:22

Trade #4 - The market bounced slightly and went into a short uptrend. Took a 2nd entry long with trend line support. Got my 1 pt scalp on the 1st contract, but was stopped out on my 2nd. Should have manually exited, since prices formed a double top. 1.00 + 0.25 = +1.25 pt.

• buy 2 @1672.75 at 11:05
• sell 1 @1673.75 at 11:07
• sell 1 @1673.00 at 11:11

Trade #5 - Prices were moving in a tight 3 point trading range. Entered long on a stop above a Doji candlestick that formed after a bearish one. This was not a 2nd entry, but I like it because prices had support, as it formed a double bottom. 1.00 + 0.25 = +1.25 pt.

• buy 2 @1674.75 at 2:11
• sell 1 @1675.75 at 2:16
• sell 1 @1675.00 at 2:17

I dug a hole early in the day, but managed to pull myself out. Netted +3.75 points for the day.

ES chart 10/3/13

ES trades for 10/2/13

Market opened deep in the red today, due to the government shutdown issue again. It opened down 14 pt. It was in a trading range early on, before spending the rest of the day in an uptrend. Again, I did 3 trades today. Of course, again, I was within 1 tick of my initial scalp target. Very frustrating, since all 3 trades were winners, but the net money was not a lot.

Trade #1 - Market broke out of the early range to the downside very bearishly. Even though it was a countertrend trade, I went ahead because 1) prices made a double bottom and 2) prices had just completed a measured move. Thought a market reversal was in order. I was right, but didn't stick around to get rewarded. As mentioned before, my 1st contract was stopped out for 1 tick. I was shook out of my 2nd contract, due to congestion (overlapping bars) and formation of a Doji. 0.25 + 0.25 = +0.50 pt.

• buy 2 @1674.25 at 10:12
• sell 1 @1674.50 at 10:15
• sell 1 @1674.50 at 10:17

Trade #2 - At the time when I took this trade, I didn't think it was countertrend trading, as I thought range rules were still in order. In hindsight, the market was in an uptrend from about 10:30 forward. Anyway, I took a 2nd entry short, as prices were meeting resistance from both the resistance line and upper-sloping trend line. Should have manually exited my runner when prices bounced off of the trend line, though. 1.00 + 0.50 = +1.50 pt.

• sell 2 @1681.25 at 11:38
• buy 1 @1680.25 at 11:41
• buy 1 @1680.75 at 11:47

Trade #3 - Didn't have the right trend lines in place when the trade was taken. Later on, with the correct lines in place, I realized that I'd entered too early (in no man's land). Plus, I should have waited for a 2nd entry, instead. As it were, I manually exited both contracts, due to the double Dojis that had formed. 0.50 + 0.50 = +1.00 pt.

• buy 2 @1684.50 at 12:52
• sell 2 @1685.00 at 13:10

ES chart 10/2/13

ES trades for 10/1/13

The first trading day of October looked to be a range day in the beginning. An hour after the market opened, I realized it would be an uptrend one. I did 3 trades - 2 winners and 1 loser. Ended the day net positive, but not by a lot.

Trade #1 - Prices were bouncing off of support on multiple bars. The signal bar started out bearish (broke through support), before finishing higher and ended up being very bullish, instead. Went long on a 2nd entry. Again, for the upteemth time, I was within 1 tick of my scalp target. For the ES, prices have to tick through a target, in order to get filled. For example, my entry was 1677.00 and 1st target was 1678.00. To get this target, the ES has to hit 1678.25. Rarely do you get filled at 1678.00. Anyway, ended up with 0.25 + 1.00 = +1.25 pt.

• buy 2 @1677.00 at 9:30
• sell 1 @1677.25 at 9:32
• sell 1 @1678.00 at 9:32

Trade #2 - Like I've said previously, I prefer range days over trending ones. After the 1st trade, I basically sat and watched in frustration as the market just kept going higher. Didn't want to jump in, as I didn't want to risk going long at the high. Finally, after the lunch time period, I got in on a 2nd entry long. It didn't take off as expected. I should have exited early, once that very bearish bar formed. In hindsight, there were a lot of overlapping bars too. I think my anxiousness to get in on a trade got the better of me. Should have sat this one out, as this trade costed me (1.50) + (1.50) = -3.00 pt.

• buy 2 @1688.00 at 13:08
• sell 1 @1686.50 at 13:36
• sell 1 @1686.50 at 13:36

Trade #3 - After I got stopped out on Trade #2, I immediately went short. I have to admit, this entry was partially emotionally driven. Very dangerous thing to do. I should have waited for prices to reach the trend line resistance before considering any short trades. Prices went nowhere for close to half an hour, before it finally headed south (after resistance at the trend line). Got full points on both my scalp and runner. 1.00 + 3.00 = +4.00 pt.

• sell 2 @1686.75 at 13:36
• buy 1 @1685.75 at 14:04
• buy 1 @1683.75 at 14:26

ES chart 10/1/13

HK Sept 2004

Can't believe these were taken almost 10 years ago. Then again, my first trip to HK was way back in 1997. Mein gott...has it been 16 years already?!? Time does go by quick, especially once you hit a certain age bracket. Anyway, good memories...

Avenue of Stars - located along the Victoria Harbour waterfront in Tsim Sha Tsui, Hong Kong.

Jackie Chan

Jet Li

Michelle Yeoh

HK sure knows how to built condo developments. Below are some pics of my sister's former condo. Notice the model of the lobby. Yes, in the middle is a man-made beach. What's amazing is that the lobby is actually on the 3rd floor, not ground floor! There's also a community gym, bowling alley, movie theater and a Wellcome supermarket. The development has 7 towers. Each tower has about 58 floors. The size and amenities offered are typical of the newer developments.

model of the lobby

actual lobby

actual lobby

exterior