Tuesday, October 29, 2013

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

E-mini S&P 500 Futures chart for Tuesday 10/29/13
ES chart 10/29/13

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