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8-3-2010 I am still holding the august ES 1120 put. 1124 is very likely a short term top before another at least 40-50 pts down movement completes. I shorted NQ at 1895 near 11:22 ET and covered at 1888 before market close. I shorted NQ again at 1894 at AH (stop 1902). I expect 1860-65 would...

8-2-2010 long one ES August 1120 put at 19.75 (ES traded near 1119). If ES close above 1122, I will close the position. I plan to hold it for max 3-4 days. I expect ES to retest 1106-1107 soon if my assessment was correct.

7-29-2010 Last night, I placed a limit order to sell one contract of NQ at 1880 (50% retrace from Wed's daily range). If NQ trades above Wed's RH high on Thursday during RH, it would prove me wrong and I would cover my short. The order was filled this morning before market open. NQ touched...

7-28-2010 Covered 1 NQ short at 1871. I am looking for re-enter pt for new short. I expect ES to correct to 1095/1085. Of course, it might just quickly drop to these levels without meaningful bounce.

That was pure luck. Stop is one of the hardest aspect in trading. The AH price movement sometimes is very annoying, but it does provide some opportunity to enter a trade at a better price level which is not available during RH. In retrospect, I should have set the stop at 1898.5-1898.75...

7-27-2010 Yesterday, I expected a possible 5 pts upthrust this morning on ES which would translate to ~10-12 pts upthrust on NQ. I am still holding the short position of 1 NQ contract. My stop now is 1896 and target 1860. Today's price action is not very pretty for bull. It looked like a...

7-26-2010 It has been a while since my last post. I have been doing some study/testing and more study/testing cycles. I tried to develop a trading style that would fit me and my daily schedule. I don't think it would be realistic for me to do scalping everyday since I do have a day job which...

7-8-2010 Total trades: 1 (ES) winner: 1 net p/l: 2 pts I have been extremely busy this week at work and couldn't have the time to do too much day trading. The 1030 ES July call I bought on 7/1 was closed yesterday near market close. On 7/5 night, the ES plunged to 1002.75 at one time...

7-1-2010 Bought one ES July 1030 call when SPX was near 1018 around noon. I am holding it to SPX 1035-1039 probably by the close. Since this is kind of "bottom pick" trade, I used less leveraged product instead of ES contract.

6-30-2010 Total number of trades: 4 RTS loser: 4 net p/l: -3 pts I traded between 12-1pm. It was too choppy for me. There might be some fireworks at later session, but I am calling a day for me. The 50% fib level seemed to hold for the moment. 1040 is a critical level on ES. Let's see...

The usual small scalping is not really working for me after some experimental period. My winning probability was not high enough to be profitable with small gain or small loss. The bid/ask spread and commissions are also against me. Another reason was I could not really sit in front of screen...

6-29-2010 Number of trades: 1 RT winner: 1 net p/l: 0.75 pts Today was a big surprise to me for I didn't expect such dramatic down movement. I thought 5-10 pts down thrust would define a bottom for at least several days. I went long at 1041.75 near 12:40 for higher low. I got out at...

6-28-2010 number of trades: 1RT (ES) winner: 1 net p/l: 8.75 pts Price continued its consolidation. I went long at 1067.5 at 9:56am. 1067-1071 is accumulation value level based on my analysis. I got out at 1076.25 at 11:27am seeing 1078 was the resistance level for the daily price...

6-24-2010 Total trades: 5 RTs winner: 3 loser: 2 net p/l: 0.5 pt I though this morning's down thrust to 1070 would be today's low. 1074-1075 was 62% of the retrace from 1040 to 1130 on SPX. I went long at 1075.25 at 11:50 when price got above 20 bar EMA (5min). The volume looked...

6-23-2010 Total # of trades: 1 RT winner: 1 net p/L: 5.75 pts I was not able to trade yesterday due to work schedule. I have been watching market whenever I have chance and doing my own study preparing various trading scenario of short term. SPX broke 200 DMA this morning. Yesterday's...

6-21-2010 No trades today during day due to my busy work schedule. Last Friday, I thought ES would not move beyond 1119-1121 before retracement. The Sunday night gapup did surprise me. Anything above 1121 would be a short play for me. I went short at 1123 last night and covered at 1120...

6/17/2010 total trades: 1 loser:1 net p/l: -1 pt I was in meetings most time until after 3pm. I went short right before 3:30 rally. I got stopped out for 1 pt. The price moved so fast, I was not quick enough to jump on. 6-18-2010 total number of trades: 2 RTs (ES) winner: 2 net...

6-16-2010 total trades: 3 RTs (ES) winner: 3 net p/l: 2.75 pts Today was expected to be a consolidation day after yesterday's big rally. I went short at 1109.75 at 11:28 seeing first attempt to retest yesterday's high got rejected. I covered at 1108.5 in 6 minutes. I went short again...

6-15-2010 Today was a surprise to me. I didn't expect such trend day. Anyway, due to my work schedule, I was not able to trade today. SPX closed above 200 MA and broke the 1102-1105 neckline previous seen as resistance. It looks that buying has been triggered at several higher time frame. The...

6-14-2010 Total trades: 7 RTs (ES) winner: 2 loser: 4 wash: 1 net p/l: -1 pt Between 12: 15 and 12:35, I went long twice anticipating breakout bull flag and possible retest of intraday high. I got stopped out at first one. I went long at 97.75 at 12:28pm and gout out at 98.75 since I...