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