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2-11-2010 No trades today. I have been away from my desk until 3 min before market close. The intraday rally to new high around 12:30 was a little early, The second attempt to break to new high occured in 60 min at 1:30, but it went only one tick above 12:30's high. The retrace was shallow...

2-10-2010 Total trades: 5 RTs winner: 3 loser: 1 wash: 1 net P/L: 2.5 pts Started around 11:50am ET. The first 60 min ater open has defined the price raneg of the day 1056-1070. I have drawn two down channels since 7am this morning. Once connects 7:40 and 9:55 swing high and the...

The move at 12:40 was not what I would have expected for today. In retrospect, the best I would do was to short at 1074.5 for second leg down after a mini bearflag. But I would have set my target to 1073 (23.6% fib) and equal movement. I was expecting a pullback to 38% at 1070 support,w hcih was...

I have reviewed all my trades today. There were 3 trades that actually were profitable at one point and turned into a loss at end. I probably thought I would give it a little bit more room for large swing. I believe I've misunderstand the situation where you would hold a little long for large...

2-9-2010 Total trades: 13 RTs winner: 5 loser: 8 net p/L: -2.5 pts total 8 trades have been stopped out between 0.5 to 1.5 pts loss. 5 winning trades were between 0.75 to 1.75 pts. Started at 12:30 PM ET. SPX tested 1058 and rallied 19 points. I was waiting for pullback to 38% fib...

2-8-2010 No live trading today. I was away from desk until 3:20 PM ET. The price movement together with last Friday's later bounce looked like correction leg A up and leg B down. At 3:26, the restest intraday low hold. Price bounced back a little. I did a paper trade at 3:28 going long at...

2-5-2010 Total trades: 5RTs winner: 2 loser: 3 net p/l: 0.75 pt Staretd around 1:15 pm A descending triangle/falling wedge forming. At 1:22 price falling below the bottom of the descending triangle (LHs and slightly LLs). It could also be viewed as a bearflag from 11:40 to 12:40...

2-4-2010 net P/L: 0 I forgot to include it in my previous post today.

I have been watching both ES and YM for some time now. YM has small spread during the day (typically 1 tick, occasionally 2). Sometimes you might find the price pattern on YM is more well defined than that on ES and occasionally breakouts start on YM 1-2 seconds earlier than that on ES. Other...

2-4-2010 Total live trades: 3 RTs winner: 1 loser: 1 wash: 1 (entered wrong order and immediately reverse with 2 contracts, one of the order became wash trade) Started at 12:30 pm ET. Didn't plan to trade live due to interruption of meetings so I decided to do some paper trading while I...

Thank you for your recommendation. The problem I am not making positive return is not becuase of the vehicle I am trading , but my edge is not good enought. I still want to focus on ES trading. I have been watching it whenever I can. Overtime, I feel I get to know better about its characters. If...

2-3-2010 My work schedule has been busy for the morning and could not really concentrate on trading. I did watch the market whenever I got chance to my desk. After 2 days retrace, market pulled back again today (The potential retrace to 1115 might take ABC three big steps. So we might be...

I am down 300USD in my future account since I started live trading on Dec 18, 2009. My commission is 5 USD for each RT. 59 RTs in Dec 2009, account net -120 USD end of month 71 RTs in Jan 2010, account net -182.50 USD end of month. The total commission from ec 2009 and Jan 2010 are 650...

2-2-1010 total trades: 5 RTs winner: 1 loser: 4 net p/l: -1.25pts started at 2:10 pm ET Long 1097.75 at 2:15 expecting retest 1099 intraday high at 1:40. Stop out at 1096.5. It was a poor decision because, 1. after 3 push up this morning, the consolidation would be at least more than...

2-1-2010 Total trades: 2 RT winner:1 loser:1 net p/l: 0.25 pt There is some change of my working schedule for the next 3-4 weeks. During this period, I will not be at my desk for most of the time in the morning until 2-3pm ET. Today is not really a trend day since there are many deep...

1-29-2010 Total trades: 1 RT winner: 1 net p/L: 1 pt Staretd at 12 pm ET SPX reversed at 10:30 and hit support near 1078 at 12pm. Two leg correction. Tried to break 1084 3 times failed. I have observed 3 important price levels today, 1080 (11:30am selling climax (second selling wave...

1-28-2010 Total trades: 4 RTs winner: 3 loser: 1 net P/L: 2 pts. Started at 11:45am ET. SPX touched 25% channel line and reversed back this morning. It broke the 50% center channel line and broke yesterday's low. It stopped a little above 75% down channel line. I have drawn two...

Buying above resistance or selling below support with stop order is considered valid approach to profit on breakout. My observation is often there are many failed breakouts, if blindly entering breakout with stop order will not necessarily lead to positive return over time. When to play...

I am done trading fo rthe day. I didn't trade after 2:15pm since the volatility was a bit too high to my comfortable level. Total trades: 2 RT winer: 1 loser 1: net p/l: -0.25 pt. Here is my reading of the market. At 2:35, the price broke the down trend channel. This was a long...

1-27-2010 Today is FOMC day. I will wait for 30min after 2:15 before resume trading. Went short at 12:30 as price broke the micro demand line after a throwback at 1086 around 12:25. To me, it looked like a inverted cup&handle to break 1084 soon (tha would be a secpond leg down). Short at...