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6-11-2010 total trades: 3 RTs (ES) winner: 3 net p/l: 1.5 pts I was able to trade from 11:30 to 1pm. Today was expected consolidation after yesterday's big rally. NQ is forming a nicely defined symmetric triangle. I did several scalps from long side, but these trades were...

6-10-2010 Today is rollover day for ES contracts. Total number of trades: 7 RTs (ESU10) Winner: 4 loser: 3 net p/l: 0.25 pt Between 12:40 and 1:20, I went long several times anticipating the breakout of bull flag. I went long at 1071 at 12:40pm after two legs down and price...

6-9-2010 Total trades: 3 RTs (ES) winner: 2 loser: 1 net p/l: 1.5 pts NQ looked like breaking out of falling wedge since yesterday. ES gapped up this morning, retested yesterday's close successfully in the first hour of trading and then broke to the upside. I went long at 74.5 at...

6-8-2010 Total trades: 6 RTs (ES) Winner:2 Loser: 3 wash: 1 net p/l: -2.5 pts Based on yesterday's price action, the last 30 minutes selling was like to shake out weak hands and trap more sellers. I expected a down thrust in the morning and reverse then. Today's morning down thrust...

I am still working on trader's psychology part. I tried to limit my daily number of trades. If I have a few loss in a roll, I would either stop for the day or become more picky about rest of the trades I would take. Never fall in a mood trying to get even with market. How to let winner run? I...

6-7-2010 Total trades; 5 RTs (ES) winner: 2 loser: 3 net p/l: -1.25 pts I did a few long scalps in the middle of the day expecting the 50% fib level would provided some support. I got stopped out several times. I went to meeting from 1 to 3pm. I went short at 1058.75 around 3:15pm as...

6-4-2010 Total trades: 4 RTs (ES) winner: 1 loser: 3 net p/l: -0.75 pt I traded between 11:50 to 12:55. Tried 4 longs between 1075 and 1080 for reverse breaking supply line, double bottom, breaking 20 bar MA. Well all potential reverses during that time frame failed with weakness. The...

In my opinion, both gamble and trading are game of probability in certain sense. However, the subtle difference between two is you can't take it back once you have bet on, but in trading, in general, you can always get out of your trade at any time if you want. This eventually leads to...

6-3-2010 Total trades: 2 RTs (ES) winner: 2 net p/l: 3 pts I was able to trade from 11:30 to 1pm. I have other commitments at work after 1pm so I could not concentrate on trading for the second half of the day. I went long at 1099.50 (stop 1098) at 11:35 for potential triangle...

6-2-2010 Total trades: 4 RTs (ES) loser: 3 wash: 1 net p/l: -1.75 pts I went long between 1:30 and 1:50pm. I got stopped out 3 times. It could be my stop were too tight (1 pt largest stop), or I expect some large move from breakout. Although all 4 trades had potential profit 0.25-0.75...

6-1-2010 Total number of trades: 5 RTs (ES) Winner: 3 loser: 2 net p/l: -1.5 pts Long at 1084.50 (stop 1083.50) at 11:54am, it was 62% retrace and micro-supply line break. Stopped out at next 2 min bar. Re-enter at 1084 and out at 1084.75. went to meeting from 12:15 to 1:30. Long...

5-28-2010 No trades today for I have been in meeting from 9am to 12:30pm pacific time. After yesterday's big rally, I expected some consolidation today. ES retraced inside an up channel since 5/25 pre-market swing low. If I could have traded between 12 to 3:30 pm. I would probably go long...

5-27-2010 Total trades: 5 RTs (ES) winner: 2 loser: 3 net p/l: -0.75 pt I went long at 1091.5 at 12:48 (stop 1090.5) seeing 2 min bars were making HH & HL. The price broke the mini-supply line briefly (92.25),It was failed breakout, next bar made lower high. I got stopped out for 1 pt...

5-26-2010 Total trades: 2RTs (ES) winner: 1 wash: 1 net p/l: 1.25 pts I started at 11:45. The 2 min bar have been choppy ( 2-3 pts swing between high and low). I wanted to go long at 12:15, 12:30 with price breaking down trend channel with throwbacks. However, price moved a bit too fast...

5-25-2010 No trades today. I have been in meetings from 12 noon to 3:45PM EST. Last Friday, the low was made at open and there was sharp reverse within 30 minutes from open. Buyers were managed to hold the consolidation zone yesterday until last 30 minutes hard selloff yesterday. Although...

I usually use 2 min chart to figure out my entry and stop. I've noticed that there were many overlaps on 2 min bar. Overall, today was a choppy day, which was expected after Friday's movement. I guess buying 1085.75 was ok, but I would have to set stop at 1084.25. Intuitively, I thought I...

5-24-2010 total trades: 3 RTs(ES) winner: 2 loser: 1 net p/l: 1.0 pt Until 1pm, the price movements looked healthy after low thrust and reverse last Friday. I stared near 11:30. The price bounced from 1080.5 level. It was too legs up to retest day high, I missed the 1082 entry and...

5-21-2010 No ES day trade today. I was in meetings until 3pm. It was a huge bull flag retraced to 50% fib level. I was waiting for the price to break above the top of bull flag channel line. The move eventually came in at last 30 minutes. It was powerful move and price closed above 23%...

5-20-2010 Total trades: 3 RTs (ES) winner: 2 loser 1 net p/L: -1.25 pt I was a bit emotional with my first trade since I widened my original stop after seeing things didn't go exactly as I expected. This was extremely bad habit of losers. I went long at 1080.25 around 12:45 thinking...

5-19-2010 I am very much occupied at work today. I am afraid I won't be able to focus on my day trade activity today. Today is kind of important. SPX touched 200 DMA and bounced. EURO bounced. Gold is down big.