August 8th, 2017 - S&P 500 e-Mini - Trading Activity - Today's Real Money Profit $0, Sim Trade Profit $869

Opening Comments

The overnight market was pretty quite.
There was a decline off the open into yesterdays afternoon support level followed by the typical rally back towards the open.
This is a pretty common overnight movement.

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.

The sideways activity for the last 2 weeks will not last forever.
A break from that will be significant and indicative of the market direction in the near term.

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.

The market failed to make any sustained movement higher over the past couple of weeks and was beaten back on Friday's attempt to break higher.

The rubber band is winding up, which ever way it breaks the move could be substantial.

Simulation Trading LW Best TDOM  Bonds

We are long 1 @ 154 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 08/08/17.
We hold for the first profitable open or hit the Stop.

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
We ended yesterday holding a Long position of 5 contracts from a Flip Trade that did not follow through.
We need to deal with this open position today.

Flip Trade from 07/08/17
Time
Trade Direction
Signal Type
#Contracts Cover
#Contracts Recovery
Entry Price
Exit Price
Trade Profit
Day Profit
14:29
Long
Cons-BO
5
5
2477.75
2475.25
-$637
-$637
Ended the day with this open position that we will deal with overnight or tomorrow.
We got a sell signal in the overnight trading and Flipped this short.
We lost $637 on the trade so will need a target of 3 point o recovery on the Flip Trade.

Flip Trade
Time
Trade Direction
Signal Type
#Contracts Cover
#Contracts Recovery
Entry Price
Exit Price
Trade Profit
Day Profit
6:23
Short
LO'r-HI's
5
5
2475.25
2475.25
-$12
-$649
Trade ran down to within a 1/4 point of the target then bounced.
Flip trade at break even to Long. Losses $649 with commissions
Need a 3 point target on the next Flip Trade.

Flip Trade
Time
Trade Direction
Signal Type
#Contracts Cover
#Contracts Recovery
Entry Price
Exit Price
Trade Profit
Day Profit
8:51
Long
1st 2 UP
5
5
2475.25
2478.00
$680
$31

 1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
9:44
Long
Cont-L
1
2478.75
2479.75
$48
$79




1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
9:55
Long
Cont-L
1
2481.75
2482.75
$47
$126





1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
10:01
Long
Cons-BO
1
2482.50
2483.50
$49
$175
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
10:33
Long
Cont-L
1
2483.75
2484.75
$46
$221
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
10:49
Long
Cont-L
1
2485.00
2486.00
$48
$269
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
10:55
Long
Cont-L
1
2486.00
2487.00
$47
$316
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
10:59
Long
Cont-L
1
2487.00
2488.00
$49
$365

1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
11:18
Short
1st 2 DWN
1
2486.50
2485.5
$47
$412
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
11:20
Short
Cont-S
1
2486.00
2485.00
$48
$460
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
13:07
Short
1st 2 DWN
1
2479.00
2478.00
$48
$508
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
13:59
Short
Cons-BD
1
2477.00
2476.00
$48
$556
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
14:24
Short
LO'r-HI"s
1
2474.50
2473.50
$47
$603
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
:27
14:27
Short
Cont-L
1
2473.50
2471.00
$123
$726
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
14:31
Short
LO'r-HI's
1
2471.50
2470.50
$47
$773
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
14:33
Short
Cons-BD
1
2469.00
2468.00
$47
$820
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
14:36
Short
LO'r-HI's
1
2467.75
2470.25
-$127
$693





 No follow through to the Short side, Flip Trade.
1 Contract to Cover.
5 Contracts for Recovery.
Lost $127. Target 1/2 point for recovery

 Flip Trade
Time
Trade Direction
Signal Type
#Contracts Cover
#Contracts Recovery
Entry Price
Exit Price
Trade Profit
Day Profit
1438
Long
1st 2 UP
1
5
2470.25
2471.00
$176
$869

 Getting close to the end of the day.
Market becoming more edgy.
Calling it a day with a profit of $869.

 Flipping Technique worked well today.
Daily Summary & Charts

 A pretty wild day in the market today.
Started out pretty lazy and looking like a repeat of Monday.
Then about mid morning it took off making new historic highs and looking very strong.
But, it could not hold these gains and mid day was plunging back to make new daily lows and testing support levels from the previous week.















The charts below include Monday and Tuesdays trades






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