No trades today! Got my eye on some prices though for a swing trade.

Zachary Standley 

No trades today! Got my eye on some prices though for a swing trade.

What area are you looking for a swing trade? Curious to get your opinion. I bought ES near the close today as a swing trade after we filled that gap from last week.

Well the first thing is, I want to see more interaction down at these levels. I want to see a new balance develop, and I want to see 2920-2900 tested. As of now, 2920 is holding up, but it's too early for me to make a sound call and to enter long there. I'll keep my eye on price action overnight and see what happens. Inconclusively, 2910-2920 is a great entry IMO.

Zachary Standley 

Well the first thing is, I want to see more interaction down at these levels. I want to see a new balance develop, and I want to see 2920-2900 tested. As of now, 2920 is holding up, but it's too early for me to make a sound call and to enter long there. I'll keep my eye on price action overnight and see what happens. Inconclusively, 2910-2920 is a great entry IMO.

Next question:

If your criteria are met and you see what you'd like to see, where would your stop be placed? What would be your tentative initial target?

I see 2936 as a likely first target and and 2948 as a possible second target. ATH would be the next spot after that for me.

mtzimmer1 

Next question: If your criteria are met and you see what you'd like to see, where would your stop be placed? What would be your tentative initial target? I see 2936 as a likely first target and and 2948 as a possible second target. ATH would be the next spot after that for me.

Behind 2900. ~2898, if not a little further back.

~2936 would be the 1:1 target. All-time highs is the second.

I think we have the same trade, bud. If it runs off without me, give me half. LOL

Zachary Standley 

Behind 2900. ~2898, if not a little further back. ~2936 would be the 1:1 target. All-time highs is the second. I think we have the same trade, bud. If it runs off without me, give me half. LOL

How about we dip down to 2910 so you can fill long and then shoot off like a rocketship to ATH? Sounds like a plan to me! We do some of the same analysis it seems!

mtzimmer1 

How about we dip down to 2910 so you can fill long and then shoot off like a rocketship to ATH? Sounds like a plan to me! We do some of the same analysis it seems!

That would be perfect tbh. We might be using the same strategy! It seems like it with the numbers you gave me.

I set up an alert for 2918 and it didn't go off. I may have missed my shot. We'll see!

Lost 4 points in the MES today! (SIM)



I did everything that I was supposed to do, so I don't feel bad about this trade at all (I usually feel bad after losing). My macro set-up developed in the 30 minute chart, and a relatively important level was being interacted with, which I observed through the footprint- absorption soon became evident after I recognized this, so I entered. Stop loss was in the right place, and my entry was decent. All around, this was a good trade, and I would (and have to) take it again.

Also, I put on a swing trade today too. Obviously it's still going, I'll keep you updated on it.

I find that there's less to talk or write about, now that I have a for-sure strategy that I'm committed to. I don't know if this is a good thing or a bad thing.

No day trades today. The ES/MES is currently in a weird position, and I can't tell if we're bullish or bearish in the daily chart. Because of this, I closed my swing trade that I put on yesterday for a relatively minuscule 3.25 point gain. Nothing special!

As for my day trading as a whole, I find myself gravitating more and more to wanting to trade live already. I do have ~$442 just sitting in my live account that I don't need to survive, so I'm really debating just jumping in with my current strategy to challenge myself / to be involved. I thought about it earlier, and even though I definitely take SIM seriously, trading live is more engaging, because it's real risk and real reward! I suppose I'm getting a bit impatient because I've been in SIM so long. Maybe the prospect of trading real money will "bring my trading to life?" I don't know, all I know is, I want to trade live!

I would be risking relatively a lot of capital per trade: right off the bat, if I were to use a 2 point stop loss with this $442 account in the MES, and I lost the first trade- that's a 2.27% loss. On the flip side, I'd aim for 2:1 to 3:1, depending on what the market tells me. All around, it's risky, but the idea of doing so is strongly appealing: because of the personal challenge, and because it's real, and not to mention the potential reward- could you imagine successfully growing an account this small?.. Trust me, I'm not banking on it, and I know it's unlikely. Also, I suppose trading live with this account would add an extra element of seriousness to my approach to trading, and I would have to be extremely selective, and on the ball with my trades.

If you think this is a good idea, or an absolutely terrible one, let me know. I'm willing to take the risk, and I think it would be a good experience, regardless of the outcome.

Zachary Standley 

No day trades today. The ES/MES is currently in a weird position, and I can't tell if we're bullish or bearish in the daily chart. Because of this, I closed my swing trade that I put on yesterday for a relatively minuscule 3.25 point gain. Nothing special! As for my day trading as a whole, I find myself gravitating more and more to wanting to trade live already. I do have ~$442 just sitting in my live account that I don't need to survive, so I'm really debating just jumping in with my current strategy to challenge myself / to be involved. I thought about it earlier, and even though I definitely take SIM seriously, trading live is more engaging, because it's real risk and real reward! I suppose I'm getting a bit impatient because I've been in SIM so long. Maybe the prospect of trading real money will "bring my trading to life?" I don't know, all I know is, I want to trade live! I would be risking relatively a lot of capital per trade: right off the bat, if I were to use a 2 point stop loss with this $442 account in the MES, and I lost the first trade- that's a 2.27% loss. On the flip side, I'd aim for 2:1 to 3:1, depending on what the market tells me. All around, it's risky, but the idea of doing so is strongly appealing: because of the personal challenge, and because it's real, and not to mention the potential reward- could you imagine successfully growing an account this small?.. Trust me, I'm not banking on it, and I know it's unlikely. Also, I suppose trading live with this account would add an extra element of seriousness to my approach to trading, and I would have to be extremely selective, and on the ball with my trades. If you think this is a good idea, or an absolutely terrible one, let me know. I'm willing to take the risk, and I think it would be a good experience, regardless of the outcome.

There is almost no comparison, speaking of myself, between live and sim.

As the market approaches my orders my pulse picks up, when filled my heart starts to race. After a short while, maybe a minute, I’m back to normal as far as heart beat. This happens more so with the first trade of the day.

I think it is a great idea.

Remember YOU are the house. The odds are in YOUR favor. YOUR running a well thought out business.

Businesses have expenses but also make money. Both go hand in hand, never just one alone.

Ron


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