Thursday 93% - Tougher than Normal

Base System: 40W - 3L = 43T = 93% Potential

Sub System: 17W - 1L 18T = 94.4% Potential

Trading Accuracy: 70.59%

Net P&L: +$355.90

Net Points: + 7

I was on and off for a total of about 30 minutes early this morning.

It was a tougher day than normal and I ate a good chunk in fees. I scaled in a few trades and was fortunate enough to have the initial setup eventually pay off. Although the net is positive, I feel like the day was even at best and certainly could have been negative. That aside - lots of great signals when I was not near the screen and a great overall day for the system.

Still trading blind without S&R levels this week.

Chart of the day shows some great back to back signal action at the open. This would have been a wonderful day to get your points and get away from the screen for the day.

My data and charting is ..... affordable!

I wanted to point out to any newbies that you do not have to spend a ton of money per month to evaluate the markets daily and learn to trade a system.

I use Interactive Brokers Data: $10 per month if not trading.
Quotetracker for charting: $7 a month registered, $0 yes free if you want ads in the top bar.
Ninjatrader and Bracket Trader or order entry (free for simulations)

So right now it costs me $17 a month for all this simulating I am doing.

I hear plenty of complaints about Tradestation and Esignal as far as data speeds and lagging during fast action. Those services cost anywhere from $75 to $200 a month I think.

So for now - although I am sure I have random lag - I can say this combo at $17 a month is fast enough to be beating the big boys on the ES daily. So whatever you may think, it is working more than well enough for $17 a month.

FOMC Wednesday 88.1%

Base System: 52W - 7L = 59T = 88.1%
Sub System: 17W - 1L = 18T = 94.4% (nice)

Trading Accuracy: 80%
Net Profit: +$493.00
Net Points: +9.75

Today was FOMC day which always leads to whipsawed market action. I was in and out throughout the day, but never for more than 2-5 minutes. Even in those short logins I was able to see decent signals and manage some good trades. I started the day with 1 point while I was getting dressed in the pre market (love those types of trades).

Chart of the day shows two signals that formed at the FOMC time - both were potential big winners. It is sometimes risky trading around news - but the signals were clear as a bell. It was encouraging that I got my points during the slower part of the day which for many traders I would guess was horrible trading.

Tuesday: 79.6% No Time

Base system: 43W- 11L = 54T = 79.6%

Sub System: 17W -0L = 17T = 100%

Trading Accuracy: 78.57%

Net P&L: +$370.30

Net Points: +7.0

The sub system is back! 100% again on the subsystem with a bunch of UGLY signals.

I did not have much time at all this morning, maybe 30 minutes on and off. I caught some good signals and some intuitive signals based on indicator movement though.

I did not have the motivation to get my pivot levels for the week, so I am still trading blind.

A prepared trader is much better off than a trader who thinks he can sit down and just win.

There is less and less doubt about the system as weeks and months go by. There is plenty of doubt though about the mental stress of trying to do this for a living consistently.

Chart of the day shows a nice signal that usually goes at least 2 points and sometimes starts a trend. Today was the latter.

Monday: 93.9% potential - but...Look out below on the daily charts

Base System: 46W-3L =49T for 93.9%

Sub System: 15W - 1L =16T for 93.8%

Trading Accuracy: 78.95%

Net Profit: +$571.30

Net Points: +10.5

I only had about 45 minutes slightly before and through the opening today to watch the markets. Although I did trade aggressive, I managed to scrape out enough wins early. I caught one of my favorite setups. Its a back to back long signal where the 2nd signal becomes a double bottom. This signal usually reverses the market and can be "double dipped". I take 1 point on the first run up, then rebuy on the 2nd and hold for 1.5 or 2 points. I was trading blind without my S&R levels which is always more risky.

My daily chart shows a potential short signal coming up tomorrow. If we close lower tomorrow it could form a poorly shaped short, which could signal a quick run downwards.

Chart of the day shows "the system" picking yet another top.

Friday 83.8% Rough Day Bulls Win

Base: 62W 12L 74T : 83.8%

Sub: 19W 1L 20T: 95%

Trading Accuracy: 57.14%

Net P&L: +442.80

Net Points: +8.25

I ended the day up, but was not in sync with the markets. It was partially due to the slow plodding trend up. There must have been institutional buying today. I was surprised to see my P&L was net positive on the day after my scared, rule free trading. I was using 1-3 contracts and practicing scaling out and taking quick losses.

I was scaling out one contract if price moved against me and also did manage to take some quick stops. This showed some discipline. I am also getting fairly good at seeing major market shifts forming and getting in place for those.

I ended the week in the positive territory. Mentally though I had some setbacks and hope to get some quality screen time next week. I already know Monday will be busy as far as work.
Chart of the day shows a nice reversal I caught. I was able to scale out of this one nicely.

Thursday 88.7% - No Time To trade

Base: 55W 7L 62T 88.7%
Sub: 20W 4L 24T 83.3%

Trading Accuracy: 50%
Net P&L:(-$34.80)
Net Points: (-.25)

Not much time today to trade - one winner one loser left me pretty much flat. Signal wise it was a very good day.