Clowns ES Daytrading Journal

[ESclown]

Quote from ESclown:

It might still make it to 61.25, in my previous post i notes 59-61 as pivot zone or resistance zone.

Saw some weakness at 60 so got in. Very tight stop and nice reward. If it breaks from the Fib 50% then i might take that and re-enter short.

Also, i only rely on intra-day fib levels if they fit in with price levels. Otherwise i never trade of them as obviously what most people are watching most likely won't get hit or work all the time.

If bears want to take this down then 60 is ideal zone, 61.25 is pushing it a bit and may mean we have not got strong sellers.

I am more of a pure price trader on shorter term price charts and use Fibs more for target projections. They are very powerful on longer term charts and sometimes on shorter term charts.

 

[ESclown]

Quote from ESclown:

Risky short at 59.75. Tight stop and target is test of lows.

Lunch time so moving stop even tighter. 3 tick stop and if this fails heading of too boxing practice and will be back for evening session.

 

[ESclown]

Quote from ESclown:

Lunch time so moving stop even tighter. 3 tick stop and if this fails heading of too boxing practice and will be back for evening session.

Out early at 56 because really am getting late for practice. Should test the lows however as this is usually a very high probability trade.

I did say earlier in post that 60 would be nice pivot, very high probablity of turn of these zones.

+3.75 on that one.

Will be back later. Good trading to all who read this journal.

 

[brownsfan019]

Nice day trading clown!

Decent day here as well, but I think you are leading so far!

Keep up the great work and journal. I'm sure there are plenty of lurkers out there.

 

[TokyoGhetto]

i am admitting to being a lurker. nice journal and good trading. The more I read the more I want to switch over to Futures. keep it up!

Question....do you use any type of "pit noise" squawk box??. I use Trade The News s&p 500 squawk and its pretty helpful in telling me where the market might go. I can't imagine trading e-mini s&p 500 without it.

 

[ESclown]

Back from workout. Looks like it did test low, that was a very high probability play (stats i have on it for last 4 months is > 70%) and missed out on potential profits - but im not going to be greedy here.

I basically have set myself a challenge to increase this $50000 account using 1 contract. When account size hits $60000 i will feel comfortable adding a 2nd contract.

I feel the discipline it takes to make money with 1 contract should be beneficial to me when i do increase size. Very conservative here and taking baby steps - basic target per day is 2ES points or $100. Some might feel i am too conservative but i have tried playing heavy before and got hurt on a few select days.

If i earn the right to increase contract size then i should have ability to scale out and take advantage of some bigger targets without getting anxious while in a trade.

Just typing this to remind myself to be patient and steadily build this account and earn the right to increase size.

 

[ESclown]

Quote from brownsfan019:

Nice day trading clown!

Decent day here as well, but I think you are leading so far!

Keep up the great work and journal. I'm sure there are plenty of lurkers out there.

Thanks brownsfan, glad a fellow trader is making money from them

I am on 14.75 points today so not bad - but i have left a few on the table. Not complaining though, its been nice trending day which is usually my bread and butter.

Going to try to go for more gains on evening session but give myself 2-3 losses and i will be done for the day. I find no reason to give back all the gains as i have done a few times in the past.

I have my safety net to keep pushing forward

 

[ESclown]

Quote from TokyoGhetto:

i am admitting to being a lurker. nice journal and good trading. The more I read the more I want to switch over to Futures. keep it up!

Question....do you use any type of "pit noise" squawk box??. I use Trade The News s&p 500 squawk and its pretty helpful in telling me where the market might go. I can't imagine trading e-mini s&p 500 without it.

Thanks TokyoGhetto - feel free to post anything you feel relevant.

I love futures trading because of how clean and efficient it is, i did start with stocks but got tired of continuously flipping through different charts.

However, saying that - i was quite lucky with stock trading and did double my first account playing stocks. Not had quite the luck with futures so far but it is very difficult and i know where my errors lie. I love the challenge of the ES as everyday is a mental challenge. I am very competitive so i find myself drawn to ES like a moth to a flame, its like i can't let go until i can find a way to win this game. Luckily i am quite well capitalised so i aim to try to learn and be in this game for awhile without even being profitable if need be.


I have tried squawk with Trade the News but did not give it a fair chance. I found it was distracting me from my screen action and was giving me a bias which was slightly different to my screen plays.
I only tried it for awhile but then decided to get rid of all the things that were distracting me - including indicators and many useless charts. Now i try to focus on just price charts and feel i have better focus on each price level. Squawk did not work for me but i have read many others who swear by it and helps them greatly. I guess everybody has to find what works for them.

I really believe in the KISS approach and have spent last few months trying to simplify my whole trading approach.

I hope you keep reading and enjoy the journal TokyoGhetto

 

[ESclown]

44-45 may offer a decent sized bounce. No longs from me until i see a trend change.

 

[ESclown]

Quote from ESclown:

44-45 may offer a decent sized bounce. No longs from me until i see a trend change.

Not bad bounce so far but cant break 51 resistance just yet. However, value is being dragged lower today and decent timeframe participation in this downtred. Next couple of days may not be so good for the bulls.