August 31st, 2017 - S&P 500 e-Mini - Trading Activity - Today's Real Money Profit $0 / Sim Trade Profit $656

Opening Comments @ 02:00

From the open, the market rallied back to meet resistance at yesterday's high then started to decline back towards the open, then rallied making new overnight highs.
Looks like the market is already pricing in the expectation of a good jobs report on Friday.

Historically there is a rally prior to the Labour Day long weekend.
Looks like we are doing that again this year.

Target of $400 per day for this week.

Our mid term prognosis based on the cycle and inter-market analysis, has not changed.
We still expect the markets to continue lower into October.

The forecast provides general direction, but not magnitude.

However, looking at the market activity we anticipate the correction could come back to the 2360 levels.
Flipping & Recovery Strategy (Modified 21/08/17)

Going back to the Plan B Concept for Flipping failed trades and recovering losses.
The fundamental  logic of this strategy is to recover the losses of a previous trade, not making a profit.

The guidelines are as follows:

1. The trigger event is when a trade does not follow through,
2. The trade is flipped in the opposite direction taking the required number of contracts to recover the losses with a one point target,
3. If flipping requires more than 5 contracts ( this happens if the market runs away or if there are consecutive losing trades) we revert to Plan B.

Plan B guidelines:

Hold the position and add contracts strategically as the market moves away from the 1st entry point to maintain a break even that is within a 50% Fibonacci retracement level between to last significant low and high of the current market cycle.
The maximum number of contracts to be added is 5 for a total position of 10 contracts.
Look for W or Support & Resistance trade signals for entry points to add contracts.
Adjust the target as necessary to near the new break even as contracts are added.
Wait for the market to come back and hit the adjusted target.

Trade Signals
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

Real Money Trading S&P 500 e-Mini

We are back in a Plan B situation holding 3 contracts short at an average price of 2452.58.
Target is set at 2451.50.

We will continue to manage this trade using the modified Plan B Flipping technique used on the Sim account last week.
When in Plan B take the 1st signal supporting our trade direction on any move against the trade.
1st short signal after a rally or 1st long signal after a decline.
So far that has been working pretty well.

Target of $400 per day for this week.

Flip Trade - First Entry @ 30/08/17
Time
Trade Direction
Signal Type
#Contracts Cover
#Contracts Recovery
Entry Price
Exit Price
Trade Profit
Day Profit
10:24
Short1st 2 DWN122450.25
No follow through to the Short side.
Flip trade would take more than 5 contracts.
Revert to Plan B.
Plan B - Add to Short Position @ 30/08/17
Time
Signal Type
#Contracts Added
# Total Contracts
Entry Price
Average Price
Exit Price
Trade Profit
Day Profit
13:45
1st DWN off RES132457.252452.58
Adjusted Target to 2451.50

Plan B - Add to Short Position @ 31/08/17
Time
Signal Type
#Contracts Added
# Total Contracts
Entry Price
Average Price
Exit Price
Trade Profit
Day Profit
2:44
1st DWN off RES142457.502453.81
Adjusted Target to 2452.50

Plan B - Add to Short Position @ 31/08/17
Time
Signal Type
#Contracts Added
# Total Contracts
Entry Price
Average Price
Exit Price
Trade Profit
Day Profit
5:35
1st 2 DWN152460.502455.15
Adjusted Target to  2454.00

Plan B - Add to Short Position @ 31/08/17
Time
Signal Type
#Contracts Added
# Total Contracts
Entry Price
Average Price
Exit Price
Trade Profit
Day Profit
9:30
1st 2 DWN162468.252457.33
Adjusted Target to 2456.00

Plan B - Add to Short Position @ 31/08/17 
Time
Signal Type
#Contracts Added
# Total Contracts
Entry Price
Average Price
Exit Price
Trade Profit
Day Profit
13:10
1st DWN off RES172467.502458.79
Adjusted Target to 2457.00

Added 4 positions today at potential reversal points that did not materialize as the market continued higher.
This may reveal an weakness in this particular Flipping Technique.

 Ended the day with 7 contracts short at an average price of 2458.79
Target is set at 2457.00

Simulation Trading S&P 500 e-Mini

Working Plan B on the Real account, so will trade in the Sim Account.

The Flipping and Recovery Strategy in the Sim account is slightly different than the Real Account.
In the Sim account we will test taking the first signal in each reversal in the direction of our position until we reach a maximum of 10 contracts.

1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
1:09
LongHI'r-LO's12458.252457.75-$30-$30





No follow through to the Long side, Flip Trade Short
1 Contract to Cover
1 Contracts for Recovery

Flip Trade - First Entry @
Time
Trade Direction
Signal Type
#Contracts Cover
#Contracts Recovery
Entry Price
Exit Price
Trade Profit
Day Profit
2:44
Short1st DWN off RES112457.752456.75$47$17

1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
3:32
Long1st 2 UP12460.252461.25$48$65





1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
4:06
LongCont-L12462.252463.25$45$105





1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
4:56
LongCont-L12464.002465.00$47$152





1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
5:35
Short1st 2 DWN12460.252463.25-$105$47





No follow through to the Short side, Flip Trade Long
1 Contract to Cover
4 Contracts for Recovery
Flip Trade
Time
Trade Direction
Signal Type
#Contracts Cover
#Contracts Recovery
Entry Price
Exit Price
Trade Profit
Day Profit
8:22
Long1st 2 UP142463.252463.25$154$201

1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
8:33
LongHI'r-LO's12463.752464.75$47$248





1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
8:36
LongCont-L12465.502466.50$48$296





1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
8:45
LongCons-BO12466.502467.50$47$343





1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
9:25
Short1st 2 DWN12468.752468.75$47$390






1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
9:33
ShortCons-BD12467.002466.00$49$439





1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
9:37
ShortCons-BD12465.002465.50-$29$410





No follow through to the Short side, Flip Trade Long
1 Contract to Cover
1 Contract for Recovery

Flip Trade
Time
Trade Direction
Signal Type
#Contracts Cover
#Contracts Recovery
Entry Price
Exit Price
Trade Profit
Day Profit
9:39
Long1st UP off SUP112465.502466.50$49$459

1st Trade - This trade was the result of forgetting to cancel an order.
Fortunately it worked out.
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
10:33
LongMistake12464.002468.00$197$656






Called it a day as I had some other things to do.
Ended with $656 profit in the Sim account.

 Daily Summary & Charts (Sim Account)

A strong up day from the open to the close.
To bad we were on the wrong side of it.












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