Monday, November 4, 2013

ES 11/4/13 +2.75

Did 3 trades today and was basically done before noon. Yeah, it was that slow of a day. I didn't mind, though. Had also skipped and missed 1 trade each.

Trade #1 - Took a short, as prices met resistance at the downward sloping trend line. The two Dojis that just formed before my entry made me hesitated for a bit, though. Then a very bullish bar showed up, right after my entry. Thought I had gotten in too early. Good thing prices reversed and I got my scalp. My runner was stopped out, though. 1.00 + 0.25 = +1.25 pt.
  • sell 2 @1759.50 at 9:52
  • buy 1 @1758.50 at 9:57
  • buy 1 @1759.25 at 10:00

Trade #2 - There were 3 reasons why I liked this trade.
  1. 2nd entry
  2. Double bottom
  3. Signal bar that started bearish, but ended bullish
But, I didn't have the nerves/patience to see this trade through. Got nervous after some congestion and bailed for a tick each. Trade would've worked nicely, as I entered what would be the low of the afternoon. 0.25 + 0.25 = +0.50 pt.
  • buy 2 @1757.50 at 11:13
  • sell 1 @1757.75 at 11:23
  • sell 1 @1757.75 at 11:28

Trade #3 - Went long on a bounce off of the upward sloping trend line. Was looking for prices to reach to the upper channel of the main bearish trend line at the time. My exit was a couple of ticks below it. However, my runner was stopped out again. 0.75 + 0.25 = +1.00 pt.
  • buy 2 @1758.50 at 11:54
  • sell 1 @1759.25 at 11:58
  • sell 1 @1758.75 at 11:58

E-mini S&P 500 Futures chart for Monday 11/4/13
ES chart 11/4/13

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