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