August 17th, 2017 - S&P 500 e-Mini - Trading Activity - Today's Real Money Profit $2921 / Sim Trade Profit $460
Opening Comments
Holding 7 contracts short at an average price of 2464.78.
Working Plan B to exit this trade.
Typical overnight activity.
The market declined into support then rallied into resistance maintaining yesterday's late day trading range.
About an hour before the open the support level at 2461 was challenged, broke through momentarily, then rallied back above.
The outlook for the market is for the correction to resume and move lower through the end of August.
A move lower now would indicate a continuation of the anticipated correction.
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 7 short positions at an average price of 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 Monday.
I have set the targets to attempt to recover the losses and make some money.
This technique has come up short a number of times with the target not quite being hit.
I may have to rethink this and go back to the initial logic of the Recovery Method which is to get flat and recover the trade losses rather than making a profit.
Also need to look at how I am setting the targets.
Are they based on profit targets or actual market support, resistance and price action?
We have a target set at 2457.25 which is below the support level we could not break through on Tuesday at the 38% Fibonnaci retracement level.
Yesterday's activity traded in the same range as Tuesday, unable to break either higher or lower.
While we are managing this trade we will continue to trade the Sim Account.
No follow through to the Long side, Flip Trade Short
1st Trade
1st Trade
1st Trade
1st Trade
No follow through to the Short side, Flip Trade Long
1st Trade
Calling it a day with money in the bank.
Moving to the Simulation account.
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)
1st Trade
No follow through to the Short side, Flip Trade Long
1 Contract to Cover
Holding 7 contracts short at an average price of 2464.78.
Working Plan B to exit this trade.
Typical overnight activity.
The market declined into support then rallied into resistance maintaining yesterday's late day trading range.
About an hour before the open the support level at 2461 was challenged, broke through momentarily, then rallied back above.
The outlook for the market is for the correction to resume and move lower through the end of August.
A move lower now would indicate a continuation of the anticipated correction.
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 7 short positions at an average price of 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 Monday.
I have set the targets to attempt to recover the losses and make some money.
This technique has come up short a number of times with the target not quite being hit.
I may have to rethink this and go back to the initial logic of the Recovery Method which is to get flat and recover the trade losses rather than making a profit.
Also need to look at how I am setting the targets.
Are they based on profit targets or actual market support, resistance and price action?
We have a target set at 2457.25 which is below the support level we could not break through on Tuesday at the 38% Fibonnaci retracement level.
Yesterday's activity traded in the same range as Tuesday, unable to break either higher or lower.
While we are managing this trade we will continue to trade the Sim Account.
Ended the regular hours holding 7 short positions at an average price of 2464.78.
Was watching the Live trade coming into the regular hours open.
Coming into the Reg hours Open we are seeing a Short Bias.
However, this did not follow through and we saw a rally out of the open.
This rally stalled and the market declined into my target at 2457.25 for a profit of $2666.
Resume Day Trading
Was watching the Live trade coming into the regular hours open.
Coming into the Reg hours Open we are seeing a Short Bias.
However, this did not follow through and we saw a rally out of the open.
This rally stalled and the market declined into my target at 2457.25 for a profit of $2666.
Resume Day Trading
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
9:04
| Long | 1st 2 UP | 1 | 2458.25 | 2459.25 | $45 | $45 |
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
9:06
| Long | Cons-BO | 1 | 2458.75 | 2457.25 | -$80 | -$35 |
1 Contract to Cover
5 Contracts for Recovery
Trade Losses $80
Point target for recovery 1/2
1st Trade
5 Contracts for Recovery
Trade Losses $80
Point target for recovery 1/2
Flip Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts Cover
|
#Contracts Recovery
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
9:11
| Short | 1st 2 DWN | 1 | 5 | 2457.25 | 2456.75 | $110 | $75 |
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
9:14
| Short | Cont-S | 1 | 2455.00 | 2454.00 | $45 | $120 |
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
9:14
| Short | Cont-S | 1 | 2454.75 | 2453.75 | $45 | $165 |
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
9:15
| Short | Cont-S | 1 | 2453.50 | 2452.50 | $45 | $210 |
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
9:16
| Short | Cont-S | 1 | 2452.00 | 2451.00 | $45 | $255 |
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
9:20
| Short | LO'r-HI's | 1 | 2450.25 | 2452.25 | -$105 | $150 |
1 Contract to Cover
5 Contracts for Recovery
Trade Losses $105
Point target for recovery 1/2
Flip Trade
5 Contracts for Recovery
Trade Losses $105
Point target for recovery 1/2
Flip Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts Cover
|
#Contracts Recovery
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
9:28
| Long | 1st 2 UP | 1 | 5 | 2452.25 | 2452.75 | $110 | $260 |
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
| 9:33 | Long | HI'r-LO's | 1 | 2454.25 | 2454.25 | -$5 | $255 |
Calling it a day with money in the bank.
Moving to the Simulation account.
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.
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
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
|
| 10:24 | Short | 1st 2 DWN | 1 | 2456.25 | 2455.25 | $47 | $47 |
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
| 10:29 | Short | Cont-S | 1 | 2454.50 | 2453.50 | $48 | $95 |
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
10:33
| Short | Cont-S | 1 | 2453.25 | 2452.25 | $47 | $142 |
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
10:39
| Short | Cons-BD | 1 | 2452.25 | 2451.25 | $48 | $190 |
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
10:48
| Short | Cons-BD | 1 | 2450.25 | 2452.25 | -$102 | $88 |
No follow through to the Short side, Flip Trade Long
1 Contract to Cover
5 Contracts for Recovery
Trade Losses $102
Point target for recovery 1/2
Flip Trade
1st Trade
1 Contract to Cover
5 Contracts for Recovery
Trade Losses $102
Point target for recovery 1/2
Flip Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts Cover
|
#Contracts Recovery
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
11:03
| Long | 1st UP off SUP | 1 | 5 | 2452.25 | 2452.75 | $113 | $201 |
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
11:10
| Short | 1st 2 DWN | 1 | 2449.00 | 2448.00 | $47 | $248 |
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
13:18
| Short | Cons-BD | 1 | 2439.00 | 2441.40 | -$121 | $127 |
1 Contract to Cover
5 Contracts for Recovery
Trade Losses $102
Point target for recovery 1/2
Flip Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts Cover
|
#Contracts Recovery
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
13:27
| Long | 1st 2UP | 1 | 5 | 2441.40 | 2442.00 | $144 | $271 |
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
13:41
| Short | 1st 2 DWN | 2 | 2440.00 | 2439.00 | $95 | $366 |
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
13:48
| Long | 1st UP of SUP | 1 | 2441.00 | 2438.75 | -$115 | $251 |
Flip Trade
No follow through to the Long side, Flip Trade Short
1 Contract to Cover
5 Contracts for Recovery
Trade Losses $115
Point target for recovery 1/2
Market is getting more choppy as it nears the close.
We would expect a rally into the close.
But, nothing is for sure.
Stepping aside due this late day choppy behaviour.
The Flipping Technique worked well in todays market.
Profit for the day is $460.
Time
|
Trade Direction
|
Signal Type
|
#Contracts Cover
|
#Contracts Recovery
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
13:53
| Short | 1st 2 DWN | 1 | 5 | 2438.75 | 2438.25 | $114 | $365 |
1 Contract to Cover
5 Contracts for Recovery
Trade Losses $115
Point target for recovery 1/2
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
14:02
| Short | 1st 2 DWN | 1 | 2437.75 | 2436.75 | $47 | $412 |
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
14:17
| Short | Cons-BD | 1 | 2436.00 | 2435.00 | $48 | $460 |
Market is getting more choppy as it nears the close.
We would expect a rally into the close.
But, nothing is for sure.
Stepping aside due this late day choppy behaviour.
The Flipping Technique worked well in todays market.
Profit for the day is $460.
Daily Summary & Charts (Real Account)
The market tanked with style today, breaking below last Thursday's lows and confirming our confidence in the market cycle and intermarket analysis that was forecasting this correction.
The question now is how far will it go?
The market tanked with style today, breaking below last Thursday's lows and confirming our confidence in the market cycle and intermarket analysis that was forecasting this correction.
The question now is how far will it go?
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