Daytrading! Part Deux

Thursday, April 10, 2008

After last weeks loss I took a few days off to regroup. Did some light trading today, but with the treasury budget announcement scheduled at 2pm (and trading really thin right now) I'm calling it a day with a very small profit.

0936 Long 2 ES 1357 @ 510T support, uptrending 5min 18MA. Stop hit @ 1356. -1

1018 Long 1 ES 1354.50 @ 510T support. Moved stop up and set profit target at 1358.50, which it hit at 1025 for +4 points.

1033 Long 1 ES 1358.25 @ 510T support. Stop loss hit for -1 points.

1301 Short 1 ES 1365 @ 510T resistance. Moved stop up until hit for a small loss of -0.25 points.

1315 Long 1 ES 1364.50 @ 510T support. This was against a downtrending 510T 18MA, but the 5min stochastics were rising and the PBF Squeeze indicator had a green bias line, then a pullback. It took a while, but I got out with a small profit of 1.5 points in very poor trading action.

Up 3.25 points for the day.
 

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Friday, April 11, 2008

Had a bad trading day up until about 3:00pm, when the last couple of trades pulled my day into the green for a very (very) small profit.

At market open the ES were about -14 points below the 5min 18MA. So I was looking for a long trigger for a pullback to the MA.

0934 Long 1 ES 1347.25 @ green bias line on PBF Squeeze indicator and @ 510T support. Stop hit 1346.25 quickly. -1

0943 Long 1 ES 1347 @ green bias lineon PBF Squeeze indicator and @ 510T support. Stop hit at 1346 immediately. -1

0955 Long 2 ES 1347.25 at cross of 510T 18MA and then pullback to support. Support didn't hold and stopped out again. -1

0957 Long 2 ES 1348 @ 510T support. Stop hit a minute later. -1

Now as price approaches the 5 min 18MA at 1354, I'm no longer considering long entries as the gap between ES price and the 5 min 18MA is not enough to justify the risk. So short entry triggers what I'm looking for.

1003 Short 2 ES 1346 @ 510T resistance. Set initial profit target at 1344 (+2 in my favor) which was hit, then moved stop to 1345.75, which was also hit for +0.25. +1.125 avg gain on this trade.

1025 Long 1 ES 1347.25 @ 510T support. This was not a good trade as the 5min 18MA was only 4 points above... but the setup on the 510T chart looked good so I took it with only 1 contract. Stopped out for -1.

At 10:40, price action looked choppy, so waited a bit for 5 min 18MA to curl up, allowing a long entry on a trigger off the 510T chart. I'm looking for price to close the morning gap down (it never did).

1110 Long 1 ES 1348.50 at green bias line on PBF squeeze indicator following stochastic divergence on 5 min chart. Another poor trade as 510T resistance as right above it. -1

1119 Short 2 ES 1347 @ 510T resistance. It took 18 minutes for my stop to be hit. -1

1139 Long 2 ES 1347.75 at green bias line on PFB Squeeze indicator, green candle up and then slight pullback. I set a small profit target of 1349.75, and my remaining contract was stopped out at 1348. Avg gain +1

Ran an errand and went to lunch.... came back on the 5 min 18MA on a downtrend so only short entries being considered.

1505 Short 2 ES 1337.50 @ 510T resistance. Set profit targets at +2 and +4 points, the +2 was hit at 1335.50, and the remaining contract was stopped out at 1337 for +0.5. +1.25 avg for this trade.

1534 Short 1 ES 1336.75 @ red bias line on PBF squeeze indicator and pullback. I was trying to short at first bar on 510T closing below the 18MA, but ended up shorting right at support. It worked out though, and since I had nothing to pare out (only 1 contract) I decided to let it run. I set a profit target of +5 points, with a market buy order sitting at 1331.75. This would cover all my losses for the day. I was able to move stop to entry and then lower and lower. at 15:52 my profit target was hit - and right at the bottom of the dip! Sometimes it just works out :)

Up 1.5 ES points for the day. A chart showing trades is attached.
 

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Monday, April 14, 2008

(I'm late getting this up, sorry)

A series of bad trades.... down -11.25 pts on the ES. Only 2 out of 16 trades were profitable, and for a small amount at that.

I'm trying to sort out an EasyLanguage trading strategy that will let me trade more mechanically.

Or maybe I need a TradeStation plugin that will automatically reverse each trade I make before it hits the network. If I go long, it changes the trade to short, and to long if I enter short. I'd surely make money that way....
 

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Monday, April 21, 2008

Only a couple of trades today, as I'm still working on a viable trading strategy and doing some simulations, backtesting, etc. A chart is attached.

1427 Short 1 ES 1384.50 @ 510T resistance. Stopped out five minutes later on big bar up for -1 point.

1440 Long 1 ES 1385.50 @ green candle up on strengthening PBF Squeeze indicator and stochastics. Waited for pullback first, then entered. Another entry would have been at 14:45 as the price pulled back to just a tick above the 18ma support. I set profit target at 1389.25, which was the high of day hit earlier. I figured it would pullback after hitting (which it did) and I didn't want to wait around for it to possibly go higher, or fail. It took a while, but 22 minutes later the profit target was hit for +3.75 points.

+2.75 points for the day.
 

Attachments

Wednesday, April 23, 2008

0951 Short 1 ES 1378.25 @ 510T resistance. Stopped out -0.5

0955 Long 1 ES 1378 @ green candle up, stop hit 1379 -1.

0957 Long 1 ES 1378.75 at green candle and pullback. -1.

1001 Short 1 ES 1377.25 @ 510T cross. -0.5

1012 Long 1 ES 1376.50 @ green candle and pullback after stochastic divergence at 10:05/10:15. Kept my trailing stop too tight, and stopped out at 1379 for only +2.5 pt gain on a 12 point move....

(lunch)

1527 Long 1 ES 1382.50 at basing after move up. Stopped out for -1 on push down.

1533 Short 1 ES 1380.50 on crossing 510T 18ma support, then pullback. Went down about 2.5 pts, then pulled back quickly so only made +0.5 on this trade.

-1 ES pts for the day.
 
as well how do i view your charts both pivotas and jtk? i have selected under account settings the ability to see images however i am unable to see anything using safari or firefox both on MAC? unless you guys are posting your charts somewhere else.
thanks sorry for the hassle
 
I am still using the Squeeze and do recommend it. I have not tried any of Paint bar Factory's other indicators so cannot comment on those.
 
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