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I have been developing trading systems since the early 1980s. I DO NOT sell systems. If a system works, why would anybody sell it? If it makes money, trade with it. Why create competition for yourself?
I finished R & D on this day trading system for the ES in November, 2016. Since December 1, 2016, it has generated 517 trades. It has not had a losing month. The worst month was +$50 (June 2017) and the best month was +$5,262.50 (March 2018) not including commissions and fees. The biggest draw down has been slightly less than $1,500, so it can be easily traded with a $5,000 account. Cumulative profits, without compounding, has been $32,247.50 as of the close today (July 19,2018). Officially, I will declare the past record to be hypothetical because early on I didn't have the good sense to take every trade as it was indicated. I thought I was smart enough to pick and choose the best trades. I was wrong. But no trade was entered into the record unless the market traded thru the price indicated. So, for example, a buy order at 2799.25 was not entered into the record unless the market traded at 2799.00. So I believe the record to be true and accurate. You can't blame the system for "operator error". All accounts I now trade follow the system EXACTLY as it was designed.
I started this journal because some folks I told about this system couldn't believe it. I intend to post my entry orders and stops as soon as possible after I place the orders and, hopefully, before they are filled. If the prices for those orders change, I will try to post the changes and edit-in a recap after the close.
It is nearing midnight, so I will continue tomorrow. Before I go to bed, there is one thing I feel I should make perfectly clear. If the results continue to be as good as they have been, some might be tempted to use this journal like some kind of advisory letter. DON'T DO IT. I am simply going to tell you what I am going to do before I do it. I AM NOT ADVISING ANYONE TO BUY OR SELL AT ANY PRICE OR AT ANY TIME. It would be incredibly stupid to try and mimic me. I am busy all day with trading and watching the market. My entry and exit points sometimes change according to market action. I may not have time to edit this journal on a timely basis. I AM PROVIDING INFORMATION, NOT ADVICE.
By the way: 1 trade today. Lost 2 points. I will give details tomorrow
Just entered orders: buy ESU18 2799.00 sell 2797.00 stop @9:15 am
9:42 raised entry and stop 2799.75/2797.75
11:14 raised entry and stop 2800.75/2798.75
1:35 - buy order filled - entry price was exact low of that run. but all accounts got filled
1:46 raised stop to 2800.00
1:49 placed order to take profit @2805.50
2:00 raised sell stop ti 2801.50
2:25 stopped out with 0.75 profit
canceled sell order
All times mentioned herein will be Central time, USA
This system has specific rules and formulas for calculating entry prices and stops. These prices may change intra-day depending on price action and volatility. The rules and formulas are proprietary and will not be disclosed.
But some of my trading rules are just good common sense to me. I don't trade before 9am because so many economic reports and indicators are released in the hour or two before that and I like to give the market time to digest that information. Likewise, I don't initiate a new trade in the hour before a FED announcement. I do not enter new trades after 2:30 pm and I exit all open trades by 3pm. I NEVER trade without stops and frequently re-evaluate my stops but I always change them to improve the results of the trade - never to avoid getting stopped out.
I'm not familiar with superdom specifically but you should be able to see support and resistance with any basic charting program. Try using different timeframes. I use Generic Trader because that's where all the accounts I manage are held for now. But its getting a little cumbersome changing all the orders individually for each account. I'll soon be looking for a FCM who can take block trades and allocate the fills.
10:35 There certainly seems to be good buying support just under 2820. Since 9:15 the market has traded under 2820 several times and bounced back every time. The 10:15 bar shows a low of 2819 but I was watching it like a hawk and never saw a print below 2819.25. At any rate, I didn't get any fills and the market is above 2824 at this moment. All orders remain the same for now.
12:00 canceled all orders If it would get that low now after today's action, I probably wouldn't want it.
10:25 raised buy order to 2839.0 and stop to 2837.0
11:50 filled on the buy - stop remains the same for now
11:54 stopped out
should have left orders at original levels but the changes were dictated by the market action - you don't really have a system if you don't do what it says
