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You're right. Comissions kill us. I did 9 round turns, i pay about 3.50 per round turn through ninjatrader brookerage, 31.5 in comissions. Despite i'm a beginner and i'm at simulator of course i must have comissions in mind. i appreciate you brought this to my attention.
I'm worried now with my entries once i trade 1 contract each time, if i see something i consider a "clear trade" i hit 2. Once my 1 contract entry is right, for 2, 3, 4, the comissions don't repreesnt much money cause you can manage your risk. Hitting 1 contract there is no risk management. You have to take care of your entries.
Trades that i did on 02/08/2017 (having some trouble with the videos yet, even today, tried to change video format and didn't work, back to old one and on monday start again).
I will comment what i did yesterday only:
I was late at the opening and did nothing, didn't go short after opening. i watched and waited. When the price came back to minimum i saw people hitting 1000 at 2282.25, 1200 contracts at 2282.00 so i hit the 2281.50 and went short with a 2 tick stop loss, ES had to go down and my primary target was payroll's price, 2279.25. People hit 500 at 2281.25 when 1000+ hit 2281.50 and 700 hit 2281.75, taking me out of the trade.
I was expecting to see new sales at minimum so i would go short together. Price went back to 2281.25 and 1300 hit the 2281.25 and i hit too. 161 contracts hit the 2281 and 800 hit the 2281.25 going long, o tried to leave at 2281.25 but could not anymore. I covered at 2281.50.
At this time i was 3 ticks down and saw that buyers were strong at this area. Price went up til 2282.50, came back testing the minimum and 1700 hit the 2281 and it didn't become offered. This way i decided to go long and hit the 2281.50. My stop loss was at the minimum price. ES stopped going up and down, 2281.50 became offered again, until there no problem but many trades happening at these point made me worried about a possible breakout.
2281.50 became bid but i couldn't see any big order going long at these points, i saw 10 lots order. This way i left with a 2 tick profit and as soon as i left market went up in a strong movement.
Got back 2 ticks, from 3 i started loosing.
After this i made a huge error. i was expecting to seel at another's day close at 2286.5 but was too anxious and thought price could not get there. Decided to go short at the top of the value area, that was 2285.50. Put my stop loss at 2286.50, that was a close another day. It took my stop loss. But at 2286.5 the uptrend stopped and i went short, 2 contracts, bought 1 at 2285.50 and another one at 2285.00.
ES was coming from top to vwap area, so when it got vwap and stopped i hit at 2284 and went long. Took too much and i decided to leave, 1 tick profit.
ES went up to 2288.5 area that was yesterday's close. waited to see if people went short at this area. I saw people hitting the 2288.50 and hit too. bought 1 at 2288.00 and another at 2287.75.
The last trade the price came back to vwap area and i went long at 2286.5 and take 1 tick profit at 2286.75.
Sorry for the videos, will try to put them back on monday.
Market opened, tested the open and made new highs the rest of the morning. I was expecting to go long near 2221 but was not fast enough and didn't do the trade. For two times price came to 2221 and i didn't hit the 21.25.
Tried to go short at 2222.5, once it was at the top of the value area, stop loss at 2223. I saw people going short at this price and hit it. 2222.5 became offered and my target was 3 ticks once i knew buyers are strong these days. I was unconfortable once 2222.5 became offered again and instead of lowering my stop loss to 1 tick loss i took my stop gain order and moved up. Had no time and took my stop loss.
Did nothing more for the rest of the morning and stopped trading today. No video yet, i'm sorry, had no time fix this.
Lesson for today: don't loose the trade for 1 tick, hit it as soon as it come close to the price you were looking for all the time. go long or go short 1 tick up or down if you were not fast enough, but do the trade!
Hi guys, will tell you what i was seeing at the market today.
the market came from 3 days making new highs and yesterday seems to me that buyers were losing strenght. When market opened today inside yesterday's value area i chose to wait for some signal or yesterdays's value area extremes.
The market was down and i was looking for going long around 2320.75
Price was 2321.50 and it seemed to have stopped there so i hit (was excited waiting for some signal there and entered the trade too early, should have in fact waited for the price i was looking at). Put my stop loss at 2320.5, 1 tick below the reference price.
Market made new lows and came to 2320.75 but i was already long 1 contract. Price came to 2320.5 and i went long 1 more contract at 2320.75.
Took me out 1 contract at 2320.5 but stopped there and i took (went long) 1 more, despite my stop loss.
My entry price was 2321, the first contract would sell at 2321.5 and another one my target was close to the opening.
As soon as i got 2 ticks on my first contract i increased my stop loss price to the minimum, 2320.50 and the risk was ok at this point. If it came back to minimum i had to exit and had no loss anymore.
Price went up fast, there was no big order going short until 2322.75 when i decided to quit the trade.
Following is the video. The videos i make have no sound and sorry about this you can't see where are my orders to leave very well, will improve on next one.
If there is something more i can do to clear my explanations please let me know. Once i trade only through tape reading there is no graphic i check nor something more visual than my video, that's why i prefer to explain writing, so please, forgive me for having to read a lot :-)
Did one more trade for today, went long at 2323.75 when the vwap was 2323,50, took some time and traded about 15k contracts above this prices, so i decided to take 1 tick profit and left. Didn't record this trade.
Did nothing, despite some good signals from market i started the day waiting for some signal, when it came, that was going long close to the opening at 2233.25 i didn't hit, was expecting for the opening.
Was not confortable too hitting and going long at the maximum for a obvious reason, i went long yesterday at the minimum and today at the historical maximum i will not hit it, will not make a breakover, it's my policy and i must respect it. so i didn't go long when price made new highs.
Waited, waited and waited and the price came fast to yesterday's closing and i was not fast enough and was looking at vwap price too. People had a great opportunity going long at 2237.25, and again i didn't make it.
Anyway we have markets everyday and now i have some profit that i want to keep it, despite a virtual profit. So will wait for the next day to come.
Book style market today in my opinion, need some more profits to be more agressive these days and a little more confidence.
5 days making news highs, world indexes today signing for some profit taking. Opened inside yesterday's value area and when it got close to maximum and i saw a lack of buyers i went short, 2 contracts. My first stop loss need to be at the maximum price, 4 ticks. Took 2 ticks profit on one contract, moved my stop loss to two ticks above my entry point and waited for the opening price to see what happened. My first target for the second contract was the minimum of the day but i could not wait in this operation, i knew that it needed to be a new trade for this. when it found some people going long above the opening i took my profits and left.
video for the first trade i did:
Market had showed the side it was easier to come and i was looking for the 2347.75 to became offered to hit the 47.50. it happened. I saw people going short at this area and went short at 47.25. Price stopped a little time there, my stop loss needed to be above the openning, so it was. my price became bid but i knew it could test the opening again. anyway i didn't want to see. prefered to quit with a 1 tick profit. Video:
i saw another good opportunity when price returned from lows close to the opening. my stop loss would be 4 ticks up and once i'm profit decided not to do. As i said yesterday we have markets every day. i'm a beginner so i prefer to go step by step.
A brief description on what i did today: (videos come later)
Started the day wrong way, looking fore some profits taking, so looking for going short, too bad. Took time so i could change my mind for going long, almost stopped my day, was -us$82.5 and finished -US$50 . Bought 2 contracts when price came back to opening but did another mistake and could not hold. Anyway, everyday we learn one more lesson. Mine for today is: do what you see, not what you think it's going to happen. My pre market preparation was good but my trades were not good. For the ones i entered well i didn't keep it and took 1 or 2 ticks only.
Anyway, next week we have markets again,let's rest and prepare for the next trades!
The videos i post later, ok?
Have we all a great weekend!
