Average ES Daily Range for Week: 30.65
Today I spent some time just watching. I saw quite a few winning trades go by and the system was working well. Late in the day I got Ninjatrader running and took a few trades. In my rush to do so I forgot that I was charting Junes contract and had the March contract in the DOM. The trades still worked out and I then corrected the issue.
Results: 8.25 net profit of $437.50 I was 92.31% correct on my trades. I cannot complain there.
I took more time in selecting the signals and was using the markets internals ideas at times. I need quite a bit more time with my internals ideas however. As usual they are harder to trade in the live market than reading a chart at the end of the day.
Something very interesting was happening. I was seeing price not moving when it should have moved according to the internals. Shortly thereafter a large move would occur. I will be analyzing this pattern and making sure I have a reason to have a bias in the direction of the move. If this continues to work, this in itself could become a very high percentage trade setup.
Social commentary alert:
The news, as always is over saturating the story of the markets rally and looking for reasons why. Once the markets have run all the scared money out they reverse it, simple. When the pain is too great to stand, they are waiting there to buy it low and sell it high. We are sheep, we move with the herd. Most look for the easy trending moves, while the pros are buying the falling knife with an open hand and taking the risks and reaping the rewards.
Trade of the Day:
I have one signal that often signals a reversal. At times it reverses the whole market as seen here.
Posts
When you say you have 55 trades do you mean you have 55 separate trades or you have traded 55 contracts?
ReplyDeleteThis comment has been removed by the author.
ReplyDelete55 TOTAL signals.
ReplyDeleteMy net P&L totals reflect some of the signals and some errors and break evens etc.
I generally trade one contract.
Summation: 45 signals long for the day hit a 1 point target or better. 10 signals were losers and stopped out for 1.5 points and 55 signals were the total number together. If there is a back to back signal I count it as 1 signal.