I missed prep this morning due to a dentist appointment. The ES probed down and got some of the late shorts today.
I had only longs this morning and missed the short trades. I made two mistake one getting in to early and the second one was a doom mistake. My biggest trade could have been held but I wanted to keep my profits at the time and though the ES would give me a chance to reenter before hitting 1254 area.


3 loses with 2 being mistakes and 2 winners and 1 scratch

+3.00

Another wild day trading stock index futures, the ES is holding a inside level at 1237. If we hold 1237 we should retest the overnight high of 1265. If we break 1237 then we will test yesterdays lows. We could be range bound today because of the long term support holding at 1240 and because of yesterday huge down move and reversal.

What a day and I had prep pegged but I got a call at 8:15 from day care with a sick kid. I missed the best day in the last 2 years. It was 2008 all over again. I did get off two early morning trades. Again look at micro and macro bias today they held all the way down.

2 winners 6.00 Pts

brettwilson69 

What a day and I had prep pegged but I got a call at 8:15 from day care with a sick kid. I missed the best day in the last 2 years. It was 2008 all over again. I did get off two early morning trades. Again look at micro and macro bias today they held all the way down. 2 winners 6.00 Pts

I'm not sure if that was the best day for me.

I didn't trade yet back in 2008 so I cannot compare. The only thing I can say that today was very different from what I'm used to. I would say the whole week is different. Even on 1min chart every candle would go from high to the low and from low to high before closing. It was a lot of jumps around and it was hard for me to understand what's going on. But I like watching range bars on days like this. I think this is the way to go.

Thanks for you posts! Keep it up!!!

vovan348 

I'm not sure if that was the best day for me. I didn't trade yet back in 2008 so I cannot compare. The only thing I can say that today was very different from what I'm used to. I would say the whole week is different. Even on 1min chart every candle would go from high to the low and from low to high before closing. It was a lot of jumps around and it was hard for me to understand what's going on. But I like watching range bars on days like this. I think this is the way to go. Thanks for you posts! Keep it up!!!

Yes, that is why I started trading range charts they take alot of noise out of the market.

The ES is moving like the Dax and with a 4 range chart the bars are moving too fast. I'm moving up to a 5 bar range chart to try to slow things down for me. I'm not use to making that quick of decisions. Key areas to the up side are Marco bias @ 1210 and Micro bias @1190 area. If 1165 holds look to close the gap and or at least retest 1190. A break of 1165 and the first area we should test is 1150. I will post my Friday trades later. I had 21 trades and lost -.25 for the day.

The ES is still making huge moves day and night. Key area's today are 1150 (macro support) 1080 overnight low. If we hold 1150 we should keep moving down and eventually get to the 1000 area. If 1150 holds all continuations down try to hit. If we retest 1080 and it holds hit all continuations up. The ES has moved so much it might also setup a range today. Area's if we do move up 1170 and 1190.

The speed and amount of setups in a day is overwhelming. I'm finding myself timid and unsure at times but need to push my self. The setups are the same and the structure is the same, I just need to take advantage,

The opportunity to make a small fortune is there but you must have the guts to trade your approach when the markets moving like a Ferrari and not a moped. I'm starting to get a little better with this market but still it pushes me to my limits. I have missed more opportunity the last week then I did over the last year. I did trade in 2008 but I lost money on days like these, so I have made some progress.

8/5/11 21 trades -.25 total

8/8/11 3 trades +5.75
8/9/11 5 trades +5.75
But so many missed Trades

Today should be another wild day the ES is moving back from the hugh move up. Area's for possible support 1144 retest of old resistance. There is also an area at 1136 which is around 50% of last move up. If we don't hold these area's then we should retest 1100.

To many unfilled limit orders, missed trades and early entries but still managed to make a little money.

8 lossers 5 winners +5.50

I need to fix these things.