August 10th, 2017 - S&P 500 e-Mini - Trading Activity - Today's Real Money Profit $0, Sim Trade Profit $140

Opening Comments

Well, Wednesday was almost a mirror image of Tuesday, a run to the down side then a rally back to close above the open.
Not sure what to think about that.

In the broader market decliners outpaced advancers across the indices.
Breaking lower and not being able to sustain it is not a good sign for our short position.
At least we have had some good activity the last couple of days and it looks ready to break one way or the other.

Real Account Profit Target for this week is $350 per day, once we close out the current open position.

Our weekly analysis from the forecasting service we follow, Larry Williams TV, is still indicating a near term correction based on the cycle and inter-market analysis done.

The predictions are normally pretty close, but the timing can be a bit off at times.

Real Money Trading S&P 500 e-Mini

Short 8 contracts at an average price of 2440.00.

Continue to monitor.

The prognosis for the market is to have a correction in the near term, August is generally a choppy month which could accelerate a sell off if something breaks.

Unable to hold onto the decline on Wednesday in a mirror image of Tuesday's activities.
Today should be interesting.

Today was very interesting.
President Trump's comments about North Korea were the catalyst the markets need to tank.
The market dropped over 40 points on the day and closed near the low of the day at 2437.50
This put me in profit on this trade.

The dilemma now is when to cover the position.
What will the market do tomorrow.
Will it do a characteristic a bounce after such a dramatic decline
OR
Will it continue lower as we go into the weekend with uncertainty about the future of North Korea?

I moved my target up to 2430.50 for the overnight market hours.
We will see what is happening in the morning.

Simulation Trading LW Best TDOM  Bonds

We are long 1 @ 155 4/32 from 04/08/17
Stop @ 153 16/32
1st exit day is 08/08/17

We are not in profit on the open of 10/08/17.
We hold for the first profitable open or hit the Stop.
EOD we are in profit.

Placed order to sell 1 @ 155 18/32
Order filled we are flat with a profit of $435.

Next TDOM entry day is 11/08/17
Placed order to buy 1 @ 155 16/32
Order filled
Stop @ 153 28/32
1st exit day is 15/08/17

Simulation Trading S&P 500 e-Mini
Flip Trade Rule (Modified 07/08/17)
When Flipping trades we flip immediately to 5 contracts.
The target for the flip trade will be the recovery of the previous trades losses.
Profit is secondary to recovery of losses and getting flat.
This will apply to apply to all trades that do not follow through.

Trade Signals
I added an additional trade signal to the mix, the Support & Resistance Trade
This comes into play when the market encounters a support and resistance level and either bounces off or retreats from.
In this case the first naked close signal is taken as the entry point.
This signal differs from the W in that it can occur wherever support and resistance levels occur whereas the W signals generally occur at trend tops and bottoms.
For a more detailed description of all signals see the post;
My Trading Signals Explained - Updated 05/08/17 - Added Signal Support & Resistance

Signal Type
Long Signal Name
Long Signal Acronym
Short Signal Name
Short Signal Acronym
Continuation Trades
Continuation Trade – Long
Cont-L
Continuation Trade – Short
Cont-S
Trend Correction Trades
Rally off higher short-term Low – Long
HI’r-LO’s
Decline off lower short-term High – Short
LO’r-HI’s
W Trades
W Bottom – Long
W-BTM
W Top – Short
W-TOP
Support & Resistance
1st Up off Support – Long
1st UP Off SUP
1st Down off Resistance – Short
1st DWN off RES
1st 2 in a Row Trades
1st 2 in a Row Up – Long
1st 2 UP
1st 2 in a Row Down – Short
1st 2 DWN
Consolidation Trades
Consolidation Break Out – Long
Cons-BO
Consolidation Break Down – Short
Cons-BD

1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
2:07
ShortLO'r-HI's12466.752465.75$48$47
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
3:28
Short1st 2 DWN12466.252465.25$47$95
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
4:01
ShortCont-S12464.002463.00$46$141
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
4:05
ShortCont-S12463.002464.25-$62$79





No follow through to the Short side, Flip Trade.
1 Contract to Cover.
5 Contracts for Recovery.
Lost $62 on this trade.
Need 1/4 point target for recovery

Flip Trade
Time
Trade Direction
Signal Type
#Contracts Cover
#Contracts Recovery
Entry Price
Exit Price
Trade Profit
Day Profit
4:37
Long
1st UP of SUP
1
5
2464.25
2464.50
$61
$140

Daily Summary & Charts

 Did not do as much trading today as normal.
Was busy with some other stuff and monitoring from a distance.
Pretty rare to see a big move like today.


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