September 7th, 2017 - S&P 500 e-Mini - Trading Activity - Today's Real Money Profit $ / Sim Trade Profit $767
Opening Comments
The market dropped by almost 10 points on the open.
I pushed the target on my open Plan B trade down to the 2453.75 which is just above the next major support level and the 23% Fibonacci retracement level.
No follow through on this opening move lower overnight.
The market rallied back to the open, declined to re-test the overnight low then rallied into yesterday's high prior to the regular hours open.
Reg hours opened testing yesterdays high.
Closing Comments
Spent the day stuck between resistance at 2468 and support at 2460.
Was a big enough range with sufficient movement to make some good trades in the Sim Account.
But, the market needs to break lower to get us out of the Real Money Plan B trade.
The late day rally back into resistance is not encouraging for tomorrow from our short position perspective.
No changes in the Real account position today.
The Sim account ended the day with a profit of $767.
Had one Plan B trade during the day that closed out intra-day.
Considering a more aggressive Plan B strategy of taking every signal on a reversal back in the direction of the original position rather than just the first one.
Real Money Trading S&P 500 e-Mini
Started the day holding 5 contracts short with an average price of 2456.86
Added 2 contracts yesterday.
We may be a bit more conservative adding contracts today if required.
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 @ 05/09/17
Adjusted Target to 2455.75
Adjusted Target to 2453.75
No changes in the Real Account position today.
Simulation Trading S&P 500 e-Mini
Sim trading while Plan B in Real account
1st Trade
1st Trade
1st Trade
Flip Trade - Plan B 1st Entry @ 07/09/17
Adjusted Target to 2460.50
Target Hit. Plan B Out.
Back to Normal Trading.
Daily Summary & Charts (SIM Account)
The market traded in a fairly narrow range today.
But, did move around enough to get some good trades in.
It is important to recognize when the market is ranging like this and to take reversal signals off support and resistance without hesitation.
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,
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 runs away from the entry point to maintain a break even that is within a 50% retracement level between to last 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.
The Flipping and Recovery Strategy in the Sim account is slightly different than the Real Account.
In the Sim account we will test taking every opposing signal until we reach a maximum of 10 contracts.
Trade Signals
The market dropped by almost 10 points on the open.
I pushed the target on my open Plan B trade down to the 2453.75 which is just above the next major support level and the 23% Fibonacci retracement level.
No follow through on this opening move lower overnight.
The market rallied back to the open, declined to re-test the overnight low then rallied into yesterday's high prior to the regular hours open.
Reg hours opened testing yesterdays high.
Closing Comments
Spent the day stuck between resistance at 2468 and support at 2460.
Was a big enough range with sufficient movement to make some good trades in the Sim Account.
But, the market needs to break lower to get us out of the Real Money Plan B trade.
The late day rally back into resistance is not encouraging for tomorrow from our short position perspective.
No changes in the Real account position today.
The Sim account ended the day with a profit of $767.
Had one Plan B trade during the day that closed out intra-day.
Considering a more aggressive Plan B strategy of taking every signal on a reversal back in the direction of the original position rather than just the first one.
Real Money Trading S&P 500 e-Mini
Started the day holding 5 contracts short with an average price of 2456.86
Added 2 contracts yesterday.
We may be a bit more conservative adding contracts today if required.
1st Trade - Plan B @ 05/09/17
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
12:32
|
Short
|
Cont-S
|
1
|
2448.25
|
Flip trade would take more than 5 contracts.
Revert to Plan B.
Plan B - Add to Short Position @ 05/09/17
Time
|
Signal Type
|
#Contracts Added
|
# Total Contracts
|
Entry Price
|
Average Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
13:15
| 1st 2 DWN | 1 | 2 | 2453.25 | 2450.75 |
Plan B - Add to Short Position @ 05/09/17
Time
|
Signal Type
|
#Contracts Added
|
# Total Contracts
|
Entry Price
|
Average Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
13:41
| 1st 2 DWN | 1 | 3 | 2455.00 | 2452.17 |
Plan B - Add to Short Position @ 06/09/17
Time
|
Signal Type
|
#Contracts Added
|
# Total Contracts
|
Entry Price
|
Average Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
8:34
| 1st 2 DWN | 1 | 4 | 2463.00 | 2454.88 |
Adjusted Target to 2453.75
Plan B - Add to Short Position @ 06/09/17
Plan B - Add to Short Position @ 06/09/17
Time
|
Signal Type
|
#Contracts Added
|
# Total Contracts
|
Entry Price
|
Average Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
12:57
| 1st DWN off RES | 1 | 5 | 2464.75 | 2456.85 |
Adjusted Target to 2453.75
Simulation Trading S&P 500 e-Mini
Sim trading while Plan B in Real account
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
2:48
|
Short
|
Cont-S
|
1
|
2460.25
|
2463.50
|
-$169
|
-$169
|
No follow through to the Short side, Flip Trade Long
1 Contract to Cover
4 Contracts for Recovery
Flip Trade
1st Trade
4 Contracts for Recovery
Flip Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts Cover
|
#Contracts Recovery
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
4:35
| Long | 1st 2 UP | 1 | 4 | 2463.50 | 2464.50 | $194 | $25 |
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
5:20
|
Long
|
Cont-L
|
1
|
2465.25
|
2466.25
|
$48
|
$73
|
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
5:36
|
Long
|
Cont-L
|
1
|
2465.25
|
2466.25
|
$47
|
$120
|
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
5:55
|
Long
|
Cont-L
|
1
|
2467.25
|
2468.25
|
$46
|
$166
|
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
8:38
|
Long
|
HI'r-LO's
|
1
|
2467.25
|
2468.25
|
$47
|
$213
|
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
8:47
|
Short
|
1st 2 DWN
|
1
|
2466.25
|
2465.25
|
$48
|
$261
|
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
8:50
|
Short
|
Cont-S
|
1
|
2465.00
|
2464.00
|
$46
|
$307
|
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
9:00
|
Short
|
Cont-S
|
1
|
2463.00
|
2462.00
|
$49
|
$356
|
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
9:02
|
Short
|
Cont-S
|
1
|
2461.75
|
2460.75
|
$47
|
$403
|
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
9:06
|
Long
|
1st UP off SUP
|
1
|
2462.00
|
2463.00
|
$47
|
$450
|
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
9:10
|
Long
|
1st 2 UP
|
1
|
2462.00
|
2463.00
|
$49
|
$499
|
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
9:22
|
Long
|
1st 2 UP
|
1
|
2462.75
|
2460.75
|
-$107
|
$392
|
No follow through to the Long side, Flip Trade Short
1 Contract to Cover
4 Contracts for Recovery
Flip Trade - Plan B 1st Entry @ 07/09/17
Time
|
Trade Direction
|
Signal Type
|
#Contracts Cover
|
#Contracts Recovery
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
9:31
| Short | 1st 2 DWN | 1 | 4 | 2460.75 | 2460.50 | $45 | $437 |
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 @ 07/09/17
Time
|
Signal Type
|
#Contracts Added
|
# Total Contracts
|
Entry Price
|
Average Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
10:08
| 1st 2 DWN | 1 | 5 | 2465.25 | 2461.65 | 2460.50 | $235 | $672 |
Back to Normal Trading.
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
11:56
|
Long
|
1st 2 UP
|
1
|
2462.00
|
2463.00
|
$47
|
$719
|
1st Trade
Time
|
Trade Direction
|
Signal Type
|
#Contracts
|
Entry Price
|
Exit Price
|
Trade Profit
|
Day Profit
|
12:14
|
Long
|
Cons-BO
|
1
|
2463.50
|
2462.50
|
$48
|
$767
|
Calling it a day in the Sim Account
Profit for today is $767.
Daily Summary & Charts (SIM Account)
The market traded in a fairly narrow range today.
But, did move around enough to get some good trades in.
It is important to recognize when the market is ranging like this and to take reversal signals off support and resistance without hesitation.
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,
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 runs away from the entry point to maintain a break even that is within a 50% retracement level between to last 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.
The Flipping and Recovery Strategy in the Sim account is slightly different than the Real Account.
In the Sim account we will test taking every opposing signal until we reach a maximum of 10 contracts.
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
|
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