May 24th, 2017 - S&P 500 e-Mini - Trading Activity - Today's Sim Trade Profit $228
Another exciting day in the Financial Markets.
Actually not. Turned out to be very boring.
Spent most of the day in a very tight trading range with little in the way of trading opportunities.
Hence the smaller than normal profits for the day.
Pre-market Simulation Trades
The pullback in effect at the closed continued into support at the afternoon lows.
We then went SWS until the European open at 2:30 when there was a rally into resistance at yesterday's high.
Nothing trade-able so far and we are now going SWS just under resistance.
2,000 tick pulled back from resistance, formed a higher short term low then rallied into a buy signal. 7:11 - Took 2 long @ 2398.75. Target @ 2399.75.
Switch to Real Money Account for Open Trade
We have been consolidating at resistance below yesterdays high for most of the overnight session.
Started to break out just before the open. Took 3 long @ 2400.00. Target on 2 is 2401.00. Will hold the other based on a Memorial Day Trade strategy.
The market typically rallies on the Memorial Day weekend.
Regardless of what happens at the open we will keep these targets and strategy intact.
We will not flip this trade.
The break out at 13:00 took out the 2 contracts @ 2401.00 with a profit of $90.
We will hold the other contract as planned.
Exit rule on this is the first profitable open or a $1,700 stop.
Puts the stop @ 2363.00.
Switching to Simulation Account
The target was hit on our pre-market trade. We are flat with $95 profit.
2,000 tick declined out of the open, gave a second sell signal. 8:37 - Took 1 short @ 2398.75 (only got filled on 1). Target @ 2397.75.
Target hit we are flat with $142 profit.
2,000 tick rallied off support and gave us 2 consecutive buy signals. 8:53 - Took 2 long @ 2399.50. Target @ 2400.50.
No follow through. 2,000 tick made a lower short term high and declined into a sell signal. Took 6 short @ 2398.50. 2 to cover the longs and 4 for recovery. Target @ 2397.50.
Target hit, we are flat with $228 profit.
Market is directionless this morning. We have actually been going SWS since about noon yesterday.
The trading range is about 3 points. Very tight to try and trade. We will stand aside until we get a clear indication of the direction. Both 30 min and 10,000 tick signals can be dangerous in this type of market. The 2,000 tick can whip us back and forth which is also very dangerous.
It is almost noon and the market has not moved out of this tight trading range. Very strange behaviour indeed.
Just after 13:00 the market finally made move breaking out of the range to the upside after making a false break to the downside.
It did not run to far and did not have the strength to break through the historic highs from earlier in the month.
Getting late in the day and not liking the lack of movement and follow through in the market today.
Calling it a wrap.
Daily Summary & Charts
Actually not. Turned out to be very boring.
Spent most of the day in a very tight trading range with little in the way of trading opportunities.
Hence the smaller than normal profits for the day.
Pre-market Simulation Trades
The pullback in effect at the closed continued into support at the afternoon lows.
We then went SWS until the European open at 2:30 when there was a rally into resistance at yesterday's high.
Nothing trade-able so far and we are now going SWS just under resistance.
2,000 tick pulled back from resistance, formed a higher short term low then rallied into a buy signal. 7:11 - Took 2 long @ 2398.75. Target @ 2399.75.
Switch to Real Money Account for Open Trade
We have been consolidating at resistance below yesterdays high for most of the overnight session.
Started to break out just before the open. Took 3 long @ 2400.00. Target on 2 is 2401.00. Will hold the other based on a Memorial Day Trade strategy.
The market typically rallies on the Memorial Day weekend.
Regardless of what happens at the open we will keep these targets and strategy intact.
We will not flip this trade.
The break out at 13:00 took out the 2 contracts @ 2401.00 with a profit of $90.
We will hold the other contract as planned.
Exit rule on this is the first profitable open or a $1,700 stop.
Puts the stop @ 2363.00.
Switching to Simulation Account
The target was hit on our pre-market trade. We are flat with $95 profit.
2,000 tick declined out of the open, gave a second sell signal. 8:37 - Took 1 short @ 2398.75 (only got filled on 1). Target @ 2397.75.
Target hit we are flat with $142 profit.
2,000 tick rallied off support and gave us 2 consecutive buy signals. 8:53 - Took 2 long @ 2399.50. Target @ 2400.50.
No follow through. 2,000 tick made a lower short term high and declined into a sell signal. Took 6 short @ 2398.50. 2 to cover the longs and 4 for recovery. Target @ 2397.50.
Target hit, we are flat with $228 profit.
Market is directionless this morning. We have actually been going SWS since about noon yesterday.
The trading range is about 3 points. Very tight to try and trade. We will stand aside until we get a clear indication of the direction. Both 30 min and 10,000 tick signals can be dangerous in this type of market. The 2,000 tick can whip us back and forth which is also very dangerous.
It is almost noon and the market has not moved out of this tight trading range. Very strange behaviour indeed.
Just after 13:00 the market finally made move breaking out of the range to the upside after making a false break to the downside.
It did not run to far and did not have the strength to break through the historic highs from earlier in the month.
Getting late in the day and not liking the lack of movement and follow through in the market today.
Calling it a wrap.
Daily Summary & Charts
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