ES 11/15/13 +2.00

Had only one occurrence of Internet outage today, an improvement over the previous two days. Started the day good, as I'd already gotten my 2 points daily target at around 10 AM. However, I decided to take one more trade, as it was just too early to call it a day. Ended up digging a hole and spending the day trying to extricate myself out of it. In the end, I was back to where I started – up 2 points. However, dollar-wise, it was less, due to the commissions on the three additional trades. Should have left well enough alone. I also traded two contracts per trade, not one, again. Maybe going forward, I'll alternate between one and two, depending on the day's market condition.

Trade #1 – Prices touched and bounced off of the support area on multiple occasions. Went long, as the bar was kind of bullish and I was expecting prices to repeat what had occurred previously. Exited my runner near the upper trend line area. 0.75 + 1.25 = +2.00 pt.

• buy 2 @1789.50 at 10:06
• sell 1 @1790.25 at 10:11
• sell 1 @1790.75 at 10:12

Trade #2 – This was a disaster. I didn't have the correct resistance line in place at the time of the entry. Thought it was a good failed 2nd entry short with a very bullish signal bar. Didn't realize my entry was near resistance. The trade had no chance. In hindsight, I should have bailed out early for a small loss when the next immediate bar failed/turned down. Shouldn't have taken a full 2 points loss per contract. This set me back a lot. Dag! (2.00) + (2.00) = -4.00 pt.

• buy 2 @1791.25 at 11:35
• sell 2 @1789.25 at 11:51

Trade #3 – 2nd entry long with prices bouncing off of the same support area again. Got my scalp, but runner was stopped out. 1.00 + 0.25 = +1.25 pt.

• buy 2 @1788.75 at 11:55
• sell 1 @1789.75 at 12:09
• sell 1 @1789.00 at 12:38

Trade #4 – The 1788.00-1788.50 area acted as support all day. Had to go long, after two consecutive very bullish candlesticks formed. Exited my runner near the resistance area. Also, didn't like the behavior of the last bar. Even though it closed green, it seemed like a struggle. Prices did fell back a little, but then rocketed up pass my original runner target later. Got shaken out again. Still working on getting those nerves of steel to help me hold on to my runners. 1.00 + 1.75 = +2.75 pt.

• buy 2 @1789.75 at 13:21
• sell 1 @1790.75 at 13:28
• sell 1 @1791.50 at 13:41

ES chart 11/15/13