August 15th, 2017 - S&P 500 e-Mini - Trading Activity - Today's Real Money Profit $0 / Sim Trade Profit $226

Opening Comments

We are back in the same mess as we just got out of.
Holding a short position in a rising market.
Flipping Strategy did not work out very well yesterday.
Reverting back to Plan B.

We have worked our way out of these predicaments before.
We will do it again.

There was a rally our of the open, breaking out of the range that the market was stuck in for most of yesterday's regular hour trading.

The outlook for the market is for the correction to resume and move lower through the end of August.
This may just be a rally to burn off the big move lower last Thursday.

Real Account Profit Target for this week is $350 per day.

Real Money Trading S&P 500 e-Mini

At the open we were holding 6 short positions at an average price of 2464.04.

We had a sell signal come up at 0:30 so took one more position short @ 2469.25 bringing our average price to 2464.78.

Our break even is just above the Fibonnaci 23.6% retracement level.
We will need a target of 2462.25 to recover our losses from yesterday.

We will maintain our target from yesterday at 2459.50 for now.

While we are managing this trade we will continue to trade the Sim Account.

The market came down and nearly hit our target a couple of times throughout the day, but could not break through support @ the 2460 level

The broader market was showing weakness again today with more decliners than advancers.

Ended the regular hours holding 7 short positions at an average price of 2464.78.

There was weakness going into the close and a decline off the open.
So, I am going to push my target down for the overnight session.
Target moved down to near the Fibonacci 38% retracement level at 2457.25

Simulation Trading LW Best TDOM  Bonds

We are long 1 @ 155 16/32 from 11/08/17
Stop @ 153 28/32
1st exit day is 15/08/17

Trade is not in profit at the open of 15/08/17, Hold.

Trade was stopped out today for a loss of $1625.

Simulation Trading S&P 500 e-Mini

We will continue to test out this flipping technique until the end of the week.

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
9:07
Short
1st 2 DWN
1
2464.25
2463.50
$47
$47





1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
9:10
Short
Cont-S
1
2463.25
2462.25
$48
$95





1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
9:12
Short
Cont-S
1
2462.50
2461.50
$47
$142





1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
9:16
Short
Cont-S
1
2461.00
2462.90
-$93
$49





No follow through to the Short side, Flip Trade Long
1 Contract to Cover
5 Contracts for Recovery
Trade Losses $93
Point target for recovery 1/2

I forgot to cancel the buy order for the last short trade and the market pulled back and hit that order so I ended up with 6 long with an average price of 2462.50.
Worked out in my favour this time.

Flip Trade
Time
Trade Direction
Signal Type
#Contracts Cover
#Contracts Recovery
Entry Price
Exit Price
Trade Profit
Day Profit
9:27
Long1st 2 UP162462.502463.16$177$226
The market started doing the tight range and going sideways kinda like yesterday, so I stepped aside and watched.

Daily Summary & Charts (Sim Account)

 The regular market hours were pretty choppy again, indicative of an indecisive market.
Could not hold the gains made overnight.



































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