July 12th, 2017 - S&P 500 e-Mini - Trading Activity - Today's Real Money Profit $0, Sim Trade Profit $0

Opening Comments

We are short 4 contracts at the open with an average price of 2420.75.

The market opened at 2425.00 and  has not moved very much overnight.

Profit Target for this week is $350 per day.

Real Money Trading S&P 500 e-Mini

We are short 4 contracts form yesterday with an average price of 2420.75.

The market has gone sideways since about 13:00 yesterday afternoon.

The question today is how to manage this short position.
The market was quite volatile yesterday with a sharp sell off mid morning then a rally back to the day highs.
What does this mean for today and how do we set a target that is reasonable for this open trade.

Putting a Fibonnaci sequence over yesterday's activity puts the 38% retracement level at about our break even and the 50% retracement level just below our target @ 2419.25.
We will leave the target there for now and see what happens.

Well, this is not good. The market has broken higher before the open.
We will wait to see where it goes then look for a turning point to take additional short positions and get our average price back into the trading range.

After the open, the market continues to rally.
Sticking with the plan, be patient wait for it to turn.

Seeing some resistance at the 2440 level.
Took 1 contract short @ 2440.25.
Short 5 contracts at average price of  2424.65

The rally that started in the morning petered out and the market went sideways for the rest of the day closing near the day high.

We end the day with 5 contracts short at 2424.65 and the market closing at 2440.25.
The position is negative about $3000 at this time.


Simulation Trading LW Best TDOM  Bonds

We are flat in Bonds.

Next TDOM entry day is 14/7/17 for a long position.

Simulation Trading S&P 500 e-Mini

 No Simulation Trading today.

Daily Summary & Charts


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