July 6th, 2017 - S&P 500 e-Mini - Trading Activity - Today's Real Money Loss -$78, Sim Trade Profit $0
Opening Comments
The market drifted lower overnight, nothing dramatic.
Profit Target for this week is $300 per day.
Real Money Trading S&P 500 e-Mini
The 2,000 tick chart was drifting lower from the open forming lower lows and lower highs.
It declined from a lower short term high into a sell signal.
2:14 - Placed an order for 1 short just above the bar signal, but did not get filled.
The market ran lower, missed this one.
Missed another one, was making myself some breakfast/lunch and forgot to turn to volume up so I could hear the alarms.
The 2,000 tick rallied them declined off a lower short term high into a sell signal.
4:17 - Would have been a good trade.
The market was running lower, made a short pause then broke lower into a sell signal on the 2,000 tick.
5:03 - Took 1 short @ 2419.75. Target @ 2418.75.
Target hit, we are flat with $45 profit.
Market continues lower, 2,000 tick gave us a continuation signal.
5:11 - Took 1 short @ 2418.00 Target @ 2417.00
Target hit, we are flat with $90 profit.
Market continues lower, 2,000 tick gave us another continuation signal.
5:19 - took 1 short @ 2416.50. Target @ 2415.50.
No follow through. 2,000 tick rallied of the low into 2 consecutive buy signals.
5:55 - Took 5 long @ 2419.75. 1 to cover the short and 4 for recovery. Target 2420.75.
So, this long trade did not follow through either and the market is going back down to the overnight low. We cannot flip this trade due to margin limitations, so we are in a Plan B situation.
The market went down to the low, tested support and rallied back into the previous high forming a nice W Bottom. We will take this as a good sign the market wants to rally back towards the open and adjust our target accordingly.
A flip of the W Bottom puts the target @ 2425.50.
Using a Fibonacci retracement from the yesterday's high to the W Bottom put's the 50% retracement level at 2424.00.
Based on these technical indicators we will move our target to 2423.50 in anticipation of a rally back to the open either prior to or after the regular hours open.
We are now coming into the regular open.
The market has rallied, we are in profit and there is a long bias to the signals.
At 8:26 the 10,000 tick chart closed with a long signal entry @ 2421.00
Out of the open the market rallied, but did not come near my target before it declined and broke down through support.
The market continued lower and found some support at the 2410 level.
The 10,000 tick bar at 9:16 closed with buy signal. I took one more long @ 2414.50.
Now long 5 with an average price of 2418.70.
The market struggled higher into then reversed at the 2421 level, just shy of my target, after which it declined back to the day low around 2412.
I took one more long at this support level @ 2412.00.
Now long 6 with an average price of 2417.58.
I pulled my target down to 2419.75, just below resistance.
The market continued lower into the end of the day.
At 14:52 the 10,000 tick gave us a long signal. Took 1 more long @ 2407.75.
Now long 7 contracts at an average price of 2416.18.
The Fibonnaci 50% retracement is now at 2418.75.
Simulation Trading LW Best TDOM Bonds
TDOM entry day is 6/7/17.
Took 1 Long @ 153 11/32 on the open.
Stop @ 151 23/32.
1st exit day is 10/7/17.
Simulation Trading S&P 500 e-Mini
No sim trading today.
Spent the day managing the Real Money Account.
Daily Summary & Charts
Not the best day I have had so far.
We lost $78 and ended the day with 7 contracts long in a negative position.
We managed to bring our break even down through the day.
But, we missed 2 good opportunities to take the trade out at a profit equal to or greater than our daily target.
Was a bit greedy and tried to make more on the trade than the market wanted to give me.
The market drifted lower overnight, nothing dramatic.
Profit Target for this week is $300 per day.
Real Money Trading S&P 500 e-Mini
The 2,000 tick chart was drifting lower from the open forming lower lows and lower highs.
It declined from a lower short term high into a sell signal.
2:14 - Placed an order for 1 short just above the bar signal, but did not get filled.
The market ran lower, missed this one.
Missed another one, was making myself some breakfast/lunch and forgot to turn to volume up so I could hear the alarms.
The 2,000 tick rallied them declined off a lower short term high into a sell signal.
4:17 - Would have been a good trade.
The market was running lower, made a short pause then broke lower into a sell signal on the 2,000 tick.
5:03 - Took 1 short @ 2419.75. Target @ 2418.75.
Target hit, we are flat with $45 profit.
Market continues lower, 2,000 tick gave us a continuation signal.
5:11 - Took 1 short @ 2418.00 Target @ 2417.00
Target hit, we are flat with $90 profit.
Market continues lower, 2,000 tick gave us another continuation signal.
5:19 - took 1 short @ 2416.50. Target @ 2415.50.
No follow through. 2,000 tick rallied of the low into 2 consecutive buy signals.
5:55 - Took 5 long @ 2419.75. 1 to cover the short and 4 for recovery. Target 2420.75.
So, this long trade did not follow through either and the market is going back down to the overnight low. We cannot flip this trade due to margin limitations, so we are in a Plan B situation.
The market went down to the low, tested support and rallied back into the previous high forming a nice W Bottom. We will take this as a good sign the market wants to rally back towards the open and adjust our target accordingly.
A flip of the W Bottom puts the target @ 2425.50.
Using a Fibonacci retracement from the yesterday's high to the W Bottom put's the 50% retracement level at 2424.00.
Based on these technical indicators we will move our target to 2423.50 in anticipation of a rally back to the open either prior to or after the regular hours open.
We are now coming into the regular open.
The market has rallied, we are in profit and there is a long bias to the signals.
At 8:26 the 10,000 tick chart closed with a long signal entry @ 2421.00
Out of the open the market rallied, but did not come near my target before it declined and broke down through support.
The market continued lower and found some support at the 2410 level.
The 10,000 tick bar at 9:16 closed with buy signal. I took one more long @ 2414.50.
Now long 5 with an average price of 2418.70.
The market struggled higher into then reversed at the 2421 level, just shy of my target, after which it declined back to the day low around 2412.
I took one more long at this support level @ 2412.00.
Now long 6 with an average price of 2417.58.
I pulled my target down to 2419.75, just below resistance.
The market continued lower into the end of the day.
At 14:52 the 10,000 tick gave us a long signal. Took 1 more long @ 2407.75.
Now long 7 contracts at an average price of 2416.18.
The Fibonnaci 50% retracement is now at 2418.75.
Simulation Trading LW Best TDOM Bonds
TDOM entry day is 6/7/17.
Took 1 Long @ 153 11/32 on the open.
Stop @ 151 23/32.
1st exit day is 10/7/17.
Simulation Trading S&P 500 e-Mini
No sim trading today.
Spent the day managing the Real Money Account.
Daily Summary & Charts
We lost $78 and ended the day with 7 contracts long in a negative position.
We managed to bring our break even down through the day.
But, we missed 2 good opportunities to take the trade out at a profit equal to or greater than our daily target.
Was a bit greedy and tried to make more on the trade than the market wanted to give me.
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