ES: patterns & rockets
- Thread starter 1contract
- Start date
9:45 Begin
S1 992.50 994.25 -1.75
(9:50)
Sell short rocket - stopped out.
10:15 Quit
I'm unlikely to be trading much for the next 2 weeks - perhaps not at all. On holiday next week & lots of tasks to be completed before then.
Summary:
Day:
- RT: 1 (0 winner, 1 losers, 0 scratch)
- PL: -1.75
Month:
- RT: 27 (17 winner, 13 losers, 2 scratch)
- PL: -5.75
S1 992.50 994.25 -1.75
(9:50)
Sell short rocket - stopped out.
10:15 Quit
I'm unlikely to be trading much for the next 2 weeks - perhaps not at all. On holiday next week & lots of tasks to be completed before then.
Summary:
Day:
- RT: 1 (0 winner, 1 losers, 0 scratch)
- PL: -1.75
Month:
- RT: 27 (17 winner, 13 losers, 2 scratch)
- PL: -5.75
9:50 Begin
10:00 Wow!
B1 991.25 993.75 +2.50
(10:27) (10:34)
Buy b.o. up from congestion. Sell @ HoD res (ignoring spike).
[hindsight: lots of money left on table]
B1 992.50 992.75 +0.25
(10:33) (10:33)
This was an order entry error. I intended to put a sell limit to exit previous trade & entred a buy instead. Fortunately able to exit immediately for no loss. For a few seconds here I was long 2 lots - perhaps I need to change my name.
10:42 Now indicators are saying long rocket - but approaching round no. res (1000) so do nothing.
11:29 Rocket coming to an end now. If I'd entered @10:42, I'd have had the opportunity to take a further 3-4 pts. Perhaps it's better to enter all of these automatically & then be prepared to exit quickly if nec'y.
11:30 Quit
15:35 Returned
Looks like I just missed a great move.
S1 988.75 988.00 +0.75
(15:55)
Sell break of little pennant. Cover quickly because I don't trust this so close to mkt close.
[hindsight: good decision to exit]
16:00 Quit
Summary:
Day:
- RT: 3 (3 winner, 0 losers, 0 scratch)
- PL: +3.50
Month:
- RT: 30 (20 winner, 13 losers, 2 scratch)
- PL: -2.25
Something wrong with stats here (RT<winners+losers+scartch) - I will check this later.
10:00 Wow!
B1 991.25 993.75 +2.50
(10:27) (10:34)
Buy b.o. up from congestion. Sell @ HoD res (ignoring spike).
[hindsight: lots of money left on table]
B1 992.50 992.75 +0.25
(10:33) (10:33)
This was an order entry error. I intended to put a sell limit to exit previous trade & entred a buy instead. Fortunately able to exit immediately for no loss. For a few seconds here I was long 2 lots - perhaps I need to change my name.
10:42 Now indicators are saying long rocket - but approaching round no. res (1000) so do nothing.
11:29 Rocket coming to an end now. If I'd entered @10:42, I'd have had the opportunity to take a further 3-4 pts. Perhaps it's better to enter all of these automatically & then be prepared to exit quickly if nec'y.
11:30 Quit
15:35 Returned
Looks like I just missed a great move.
S1 988.75 988.00 +0.75
(15:55)
Sell break of little pennant. Cover quickly because I don't trust this so close to mkt close.
[hindsight: good decision to exit]
16:00 Quit
Summary:
Day:
- RT: 3 (3 winner, 0 losers, 0 scratch)
- PL: +3.50
Month:
- RT: 30 (20 winner, 13 losers, 2 scratch)
- PL: -2.25
Something wrong with stats here (RT<winners+losers+scartch) - I will check this later.
9:40 Begin
Rocket signal on open - do nothing.
9:45 Break of low - which I missed.
9:47 Price very eratic with DOME looking thin & gappy - do nothing.
10:00 There goes that gappy DOME again. Mkt a bit scarey today - looks like it wouldn't take much to launch one of those sudden spikes we've seen recently.
B1 982.25 979.00 -3.25
(11:18)
Buy b.o. up of double bot. Late with the entry and late with the stop.
S1 978.50 980.00 -1.50
(11:38) (11:45)
Sel b.o. of flag - stopped out.
Postmorten trade 1:
- entry bar red
- bar after that extended the move against me (now past my stop)
- now comes a little 2 bar retracement - low vol here suggests that it won't continue - I could have bailed here @908.00
- bearing in mind time of day b.o should have been entered with extreme caution in first place
Postmortem trade 2:
- trade coincided with bullish div on TICK - should not have taken this trade
12:15 Quit
14:10 Return
Beautiful flag developing on 10 minute chart.
S1 979.50 978.75 +0.75
(14:13) (15:55)
Sell break of big flag. Departing from my stated plan at start of journal and. trading 10min chart rather than 3 - so will allow bigger stop for potential bigger profit. Held through 3.25 drawdown (14:48) while acc/dis supported the downward move. Trade moved into profit of 2.25 before reversing. Eventually took smaller profit when price moved up on stronger volume.
[hindsight: should have taken +2 profit when it was there, as approaching end of day didn't leave scope for the kind of profit anticipated at start of trade. Gap down open on Monday?]
16:00 Quit
Summary:
Day:
- RT: 3 (1 winner, 2 losers, 0 scratch)
- PL: -4.00
Month:
- RT: 3 (1 winner, 2 losers, 0 scratch)
- PL: -4.00
Rocket signal on open - do nothing.
9:45 Break of low - which I missed.
9:47 Price very eratic with DOME looking thin & gappy - do nothing.
10:00 There goes that gappy DOME again. Mkt a bit scarey today - looks like it wouldn't take much to launch one of those sudden spikes we've seen recently.
B1 982.25 979.00 -3.25
(11:18)
Buy b.o. up of double bot. Late with the entry and late with the stop.
S1 978.50 980.00 -1.50
(11:38) (11:45)
Sel b.o. of flag - stopped out.
Postmorten trade 1:
- entry bar red
- bar after that extended the move against me (now past my stop)
- now comes a little 2 bar retracement - low vol here suggests that it won't continue - I could have bailed here @908.00
- bearing in mind time of day b.o should have been entered with extreme caution in first place
Postmortem trade 2:
- trade coincided with bullish div on TICK - should not have taken this trade
12:15 Quit
14:10 Return
Beautiful flag developing on 10 minute chart.
S1 979.50 978.75 +0.75
(14:13) (15:55)
Sell break of big flag. Departing from my stated plan at start of journal and. trading 10min chart rather than 3 - so will allow bigger stop for potential bigger profit. Held through 3.25 drawdown (14:48) while acc/dis supported the downward move. Trade moved into profit of 2.25 before reversing. Eventually took smaller profit when price moved up on stronger volume.
[hindsight: should have taken +2 profit when it was there, as approaching end of day didn't leave scope for the kind of profit anticipated at start of trade. Gap down open on Monday?]
16:00 Quit
Summary:
Day:
- RT: 3 (1 winner, 2 losers, 0 scratch)
- PL: -4.00
Month:
- RT: 3 (1 winner, 2 losers, 0 scratch)
- PL: -4.00
14:10 Begin
B1 987.25 983.50 -3.75
(14:37) (15:06)
Buy b.o. from congestion. Failed to pull trigger on my 2.25 pt stop - the words rabbit & headlight come to mind. This is starting to become a habit.
[hindsight: should have exited for +/- a tick on lack of volume - chart shows lots of time for cheap exit. Failing that should have triggered stop as planned]
S1 983.25 980.00 +3.25
(15:06) (15:36)
Sell b.o. (down) from cong. (reversal of previous trade). This turned into a rocket. Exited on fib resistance, even though stocs signal still holding.
[hindsight: near perfect exit]
15:45 Quit
I wonder if a time stop might help with trades like #1? - e.g. if bo doesn't develop after 2 bars, exit.
Summary:
Day:
- RT: 2 (1 win, 1 lose, 0 scratch)
- PL: -0.50
Month:
- RT: 3 (2 winner, 3 losers, 0 scratch)
- PL: -4.50
B1 987.25 983.50 -3.75
(14:37) (15:06)
Buy b.o. from congestion. Failed to pull trigger on my 2.25 pt stop - the words rabbit & headlight come to mind. This is starting to become a habit.
[hindsight: should have exited for +/- a tick on lack of volume - chart shows lots of time for cheap exit. Failing that should have triggered stop as planned]
S1 983.25 980.00 +3.25
(15:06) (15:36)
Sell b.o. (down) from cong. (reversal of previous trade). This turned into a rocket. Exited on fib resistance, even though stocs signal still holding.
[hindsight: near perfect exit]
15:45 Quit
I wonder if a time stop might help with trades like #1? - e.g. if bo doesn't develop after 2 bars, exit.
Summary:
Day:
- RT: 2 (1 win, 1 lose, 0 scratch)
- PL: -0.50
Month:
- RT: 3 (2 winner, 3 losers, 0 scratch)
- PL: -4.50
10:10 Begin
B1 982.75 983.25 +0.50
(10:20) (10:26)
Buy reversal b.o. Turned into rocket, but snatched small profit on low volume bar.
[hindsight: missed bigger profits - decision to exit was sound I think - but might have considered re-entering when vol. picked up a few mins later]
B1 988.25 989.25 +1.00
(11:20) (11:24)
Buy b.o. of flag. Take profit when move stalled and acc/dis failed to make new high.
[hindsight: good exit]
B1 990.00 990.25 +0.25
(12:04)
Buy new hi. Snatched profit when price stalled.
[hindsight: chicken exit - TICK, TRIN, acc/dis all favoured a continued rise - also rocket signalled - should have stayed]
12:20 Quit
Attached chart contains yesterday's trading too.
Summary:
Day:
- RT: 3 (3 win, 0 lose, 0 scratch)
- PL: +1.75
Month:
- RT: 3 (5 winner, 3 losers, 0 scratch)
- PL: -2.75
B1 982.75 983.25 +0.50
(10:20) (10:26)
Buy reversal b.o. Turned into rocket, but snatched small profit on low volume bar.
[hindsight: missed bigger profits - decision to exit was sound I think - but might have considered re-entering when vol. picked up a few mins later]
B1 988.25 989.25 +1.00
(11:20) (11:24)
Buy b.o. of flag. Take profit when move stalled and acc/dis failed to make new high.
[hindsight: good exit]
B1 990.00 990.25 +0.25
(12:04)
Buy new hi. Snatched profit when price stalled.
[hindsight: chicken exit - TICK, TRIN, acc/dis all favoured a continued rise - also rocket signalled - should have stayed]
12:20 Quit
Attached chart contains yesterday's trading too.
Summary:
Day:
- RT: 3 (3 win, 0 lose, 0 scratch)
- PL: +1.75
Month:
- RT: 3 (5 winner, 3 losers, 0 scratch)
- PL: -2.75
9:45 Begin
S1 986.00 988.25 -2.25
(10:01)
Sold break of cong. Stopped out on quick reversal.
10:39 Left the screen for 5 mins & missed a good move - and a rocket signal. I will look to entering long rocket on a retracement.
10:48 Rocket failed.
Volume v. low today so far - summer, Friday, power problems.
S1 990.00 989.75 +0.25
(11:06) (11:24)
Sell break of little H&S. Didn't materialise.
11:45 Quit
Summary:
Day:
- RT: 2 (1 win, 1 lose, 0 scratch)
- PL: -2.00
Month:
- RT: 5 (6 winner, 4 losers, 0 scratch)
- PL: -4.75
S1 986.00 988.25 -2.25
(10:01)
Sold break of cong. Stopped out on quick reversal.
10:39 Left the screen for 5 mins & missed a good move - and a rocket signal. I will look to entering long rocket on a retracement.
10:48 Rocket failed.
Volume v. low today so far - summer, Friday, power problems.
S1 990.00 989.75 +0.25
(11:06) (11:24)
Sell break of little H&S. Didn't materialise.
11:45 Quit
Summary:
Day:
- RT: 2 (1 win, 1 lose, 0 scratch)
- PL: -2.00
Month:
- RT: 5 (6 winner, 4 losers, 0 scratch)
- PL: -4.75
9:45 Begin
S1 997.50 1000.25 -2.75
(10:30)
Sold break of flag. Stopped out.
[hindsight: way too slow to exit here - at very worst 999.25 was completion of double bot]
10:43 Now we have a long rocket signal - but HoD res just overhead.
B1 1002.00 1002.75 +0.75
(10:49) (10:58)
Buy break of prev hi. Exit on volume spike and failure of acc/dis to make new hi (on 1min chart). HoD has been taken out.
[hindsight: right to exit]
11:08 Long rocket has now failed, as has HoD b.o. - this is beginning to look like a possible short entry.
11:30 Quit
Postmortem:
2.75 is way too big a stop to risk on a trade like #1 this - where profit potential was only 2-3.
Some good moves during the rest of the day: break H&S @12.24; nice break lower @14:39 that I might have taken 1-2 pts form.
The trend in the last hr didn't quite make rocked signal (stoc but not MACD) on the 3min chart - but did on the 5 minute.
Daily volume picking up but still v.low.
Monthly PL starting to look ugly. I don't think I'm being helped by the low volume, which works against the kinds of b.o. trades that I find myself playing. I'm going to cut back on my trading for the rest of the month, or until volume returns.
When I do trade, I am going to take some failed b.o. trades - looking for low volume following b.o.
Summary:
Day:
- RT: 2 (1 win, 1 lose, 0 scratch)
- PL: -2.00
Month:
- RT: 12 (1 winner, 5 losers, 0 scratch)
- PL: -6.75
S1 997.50 1000.25 -2.75
(10:30)
Sold break of flag. Stopped out.
[hindsight: way too slow to exit here - at very worst 999.25 was completion of double bot]
10:43 Now we have a long rocket signal - but HoD res just overhead.
B1 1002.00 1002.75 +0.75
(10:49) (10:58)
Buy break of prev hi. Exit on volume spike and failure of acc/dis to make new hi (on 1min chart). HoD has been taken out.
[hindsight: right to exit]
11:08 Long rocket has now failed, as has HoD b.o. - this is beginning to look like a possible short entry.
11:30 Quit
Postmortem:
2.75 is way too big a stop to risk on a trade like #1 this - where profit potential was only 2-3.
Some good moves during the rest of the day: break H&S @12.24; nice break lower @14:39 that I might have taken 1-2 pts form.
The trend in the last hr didn't quite make rocked signal (stoc but not MACD) on the 3min chart - but did on the 5 minute.
Daily volume picking up but still v.low.
Monthly PL starting to look ugly. I don't think I'm being helped by the low volume, which works against the kinds of b.o. trades that I find myself playing. I'm going to cut back on my trading for the rest of the month, or until volume returns.
When I do trade, I am going to take some failed b.o. trades - looking for low volume following b.o.
Summary:
Day:
- RT: 2 (1 win, 1 lose, 0 scratch)
- PL: -2.00
Month:
- RT: 12 (1 winner, 5 losers, 0 scratch)
- PL: -6.75